Transcript of "Understanding marketing objectives"
Understanding MarketingObjectivesJune 2013
Objectives• Describe the range of marketingobjectives set by businesses (C)• Analyse the effectiveness ofmarketing objectives (A*-B)
Starter for 10• What is a company vision/aim?• Who sets the company aims andobjectives?• What is a corporate objective?Give examples!• What does S.M.A.R.T stand for?
Starter for 10• What is a marketing objective?• List 3 of the Key requirements• What are the four main types ofmarketing objective?
Marketing objectivesMarketing objectives are the marketing targetsthat must be achieved in order for the companyto achieve its overall goals, such as ‘to boostsales from £25 million to £40 million withinthree years’
Key RequirementsRequirement Comment1. Provides futuredirectionChrylser: ‘Our purpose is to produce cars and trucks that peoplewill want to buy, will enjoy driving, and will want to buy again’2. Expresses aconsumer benefitPret a Manger: ‘Our mission is to sell handmade extremely freshfood’3. Realistic Innocent Drinks: ‘To be the most talent-rich company in Europe’??4. Motivating Body Shop: ‘Tirelessly work to narrow the gap between principleand practice, whilst making fun, passion and care part of our dailylives.’5. FullyCommunicatedKwik Fit: ‘To get customers back on the road speedily, achieving100% customer delight.’6. Consistentlyfollowed inpracticeGoogle: “Do no evil”???????
Types of marketing objectiveFour main types:1. Increasing product differentiation2. Growth3. Continuity4. InnovationHow?