Setting Marketing Objectives

Setting Objectives

All business departments, or functions, have objectives which contribute to the business’ overall mission. Departmental objectives are known as functional objectives and the marketing function may have a range of different objectives:

Sales volume and sales value

• The marketing department may have objectives involving:

  • Sales volume - increasing the volume of goods sold.

  • Sales value - increasing the revenue generated through the sale of goods and services.

Market size

• The marketing department may have objectives involving market size, market growth and sales growth which refer to increasing the size of the market so that a business can try and increase its sales.

Market share

• The marketing department may have objectives involving market share which involves a business increasing its market share to attract customers from competitors.

Brand loyalty

• The marketing department may have objectives involving brand loyalty which includes retaining customers and ensuring repeat customers.