Marketing Objectives

What is a Marketing Objective?

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

Main types of Marketing Objectives:

• Sales Volume

• Sales Value (Revenues)

• Sales Growth (%)

• Market Share (%)

• Brand Loyalty/ Awareness

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

Potential Problems with Marketing Objectives:

• Fast-changing external environment:

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

  • A new competitor enters the market

• Potential conflict between marketing objectives:

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

• Easy to be too ambitious with marketing objectives:

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