Presentation on theme: "Marketing Objectives Defined as: marketing ‘goals’ that the business must achieve in order to meet its wider business objectives."— Presentation transcript:
1 Marketing ObjectivesDefined as: marketing ‘goals’ that the business must achieve in order to meet its wider business objectives
2 Marketing Objectives Main ones for most businesses tend to be: Growth in market shareClearer product differentiationLong term brand value to customersCreating and launching new products / services – ‘Innovation’
3 Objectives into marketing targets Going from big picture into smaller picturesTargets are ‘milestones’ on the road to achieving the objectivesTargets are usually short and medium term
4 Objectives and small firms Small businesses don’t usually think about, or even write down targets and objectivesA criticism of the business manager/owner in a small businessIncrease sales by 10% for example
5 Limitations on objectives There are always barriers to achieving objectivesSome internal – e.g. available resourcesSome external – e.g. changing market with competitor actionsThese may prevent all or some of the objectives being achieved
6 Marketing model 1. Marketing objectives 5. Control And review Business objectives1. Marketing objectives5. ControlAnd review2. Gather data3. Form hypothesis4. Test the optionsTaken from :Marcouse et al, Business Studies, ed 2, 2003
7 Analysis of marketing objectives To create an effective marketing strategy you need to have clear objectives – it will probably fail without them!Objectives are different to strategy, so look up the definition of marketing strategy now so you are clear about this!
8 Evaluation of marketing objectives The success of using objectives within a marketing strategy is to be realistic about setting the objectivesIt’s unlikely a new ‘sports shop’ in your nearest shopping centre will win a large market share from well established stores like JJB Sports is it?