Marketing Objectives

What is a marketing objective?

A specific goal or target relating to the marketing activities and performance of a business

What are the main types of marketing objectives?

• Sales Volume

• Sales Value (Revenues)

• Sales Growth (%)

• Market Share (%)

• Brand Loyalty/ Awareness

What is the value of setting marketing objectives?

• Marketing strategy and activities are aligned with corporate objectives

• Provide a focus for helping to identify marketing priorities and allocate resources

• A way of measuring marketing activity performance

Why is a fast-changing external environment a potential problem with marketing objectives?

• E.g. Changes in legislation impacting the whole market

• A new competitor enters the market

Why is a potential conflict between marketing objectives a potential problem?

E.g. Trying to increase market share by cutting prices may damage objectives for brand perception

Why is it easy to be too ambitious with marketing objectives a potential problem?

E.g. Growing market share without putting the necessary resources in place to achieve it