unit 3.3

Give marketing objectives

• Sales volume

• Sales value

• Sales growth

• Market share

• Brand loyalty

Value of setting marketing objectives

Provides a focus for allocating resources

Potential problems with marketing objectives

• Fast changing environment

• Potential conflict between objectives

• Easy to become too ambitious

Advantages of Primary market research

• Tends to be up to date

• More detailed insights tailored to the business

Disadvantages of primary research

• Time consuming and costly

• Research may not be representative of population

Advantages of secondary market research

• Quick and easy to use

• Often free to obtain

Disadvantages of secondary research

• Can quickly become out of date

• Not always tailored to specific research

• Expensive