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OBJECTIVES
0 Goals or targets that companies set themselves
  to achieve and which provide a focus for
 decision ,making and for devising strategy

0 Short term targets with defined measurable
  achievement

0 Objectives must be definable and quantifiable
  ...there must be an achievable target.

0 Objectives should be defined in such a way that
  actual performance can be compared with the
  5/9/2012                                          2
  objective.
MARKETING OBJECTIVES
0 Goals/targets that must be achieved by
  the marketing or merchandising
  department to achieve overall goals.

0 Marketing objectives are the aims set out
  for the organisation’s marketing
  programme.

0 Marketing objectives are about products,
  sales, marketing and merchandising
   5/9/2012                                   3
Why do we need Marketing
          Objectives?
0To enable a business to
 control a marketing and
 merchandising plan.
0To help motivate individuals.
0To provide a common goal.
0 To provide an agreed,
 consistent focus for all
 functions of the business
 5/9/2012                        4
Marketing Objectives and
                Strategy
0Objectives provide the starting point for
 marketing/ merchandising plans and strategies

0Strategy concerns methods devised to achieve the
 objectives.

0The success of the strategy should be evaluated in
 terms of the extent to which objectives were
 achieved
   5/9/2012                                     5
SMART objectives
0 Specific – not vague
0 Measurable – quantities and verifiable
0 Agreed – with those concerned
0 Realistic – and achievable
0 Time related – to be achieved within a
 specified time
  5/9/2012                           6
How do these objectives fit in with
           overall objectives?

0 Hierarchy of objectives – marketing subordinate


0 Corporate objective – overall objectives


0 Marketing/merchandising - set out by the
  Marketing and Merchandising Departments

0 Marketing mix objectives – product, place,
  promotion, and price.
  5/9/2012                                          7
example...
0 Corporate objective – to grow the company
0 Marketing objective - increase market share
0 Product objective – to launch a new range
0 Distribution objective – to appoint new agents
  for this range
0 Promotional objectives – to increase brand
  awareness by 25%
0 Pricing objective – to be cheaper than
  competitors
5/9/2012                                           8
Marketing objectives refer to :

0Sales
0Market share
0Market standing
0Customer satisfaction
0Customer awareness
0Customer retention
0Distribution penetration
0Product launches
 5/9/2012                              9
WHY?
0Maintain market share
0Increase market share
0Enter new markets
0Develop new products
0Enhance product image
0Establish product as market leader

5/9/2012                              10
and also...
0Increase product range
0Enter new market segment
0Increase sales
0Increase sakes revenue
0Increase customer awareness
0Increase brand loyalty
0In all cases these objectives should be made
 SMART
5/9/2012                                        11
SMART objectives
0 Specific – not vague
0 Measurable – quantities and
 verifiable
0 Agreed – with those concerned
0 Realistic – and achievable
0 Time related – to be achieved
 within a specified time
5/9/2012                          12
Examples of SMART
  0Increase market share in the target market
     by 5% in the coming year

  0Increase product sales to the TM by 20% in
     the coming year

  0Increase brand awareness by 40% in the
     coming year
5/9/2012                                        13
Constraints on Setting Objectives
0 Realistic and achievable


0 Little purpose in setting unrealistic goals


0 Organisational freedom is therefore constrained


0 Constraints are internal (lack of resources)
  and external (consumer demand)

0 Objectives should be achievable given the constraints that
  apply
    5/9/2012                                           14
Constraints...
0 Internal
Financial – limited funds
Resources - limited human resources and expertise
Market position – sales, market share

External
Competition
The economy - consumer demand
Tastes and fashions – changes in customer preferences

 5/9/2012                                               15
A final thought...
0 “


If you don’t know where you are going any road will
  take you there”
(Raymond Viault, former CEO of Jacobs Suchard)




      5/9/2012                                        16

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Powerpoint objectives marketing and merchandising

  • 1.
  • 2. OBJECTIVES 0 Goals or targets that companies set themselves to achieve and which provide a focus for decision ,making and for devising strategy 0 Short term targets with defined measurable achievement 0 Objectives must be definable and quantifiable ...there must be an achievable target. 0 Objectives should be defined in such a way that actual performance can be compared with the 5/9/2012 2 objective.
  • 3. MARKETING OBJECTIVES 0 Goals/targets that must be achieved by the marketing or merchandising department to achieve overall goals. 0 Marketing objectives are the aims set out for the organisation’s marketing programme. 0 Marketing objectives are about products, sales, marketing and merchandising 5/9/2012 3
  • 4. Why do we need Marketing Objectives? 0To enable a business to control a marketing and merchandising plan. 0To help motivate individuals. 0To provide a common goal. 0 To provide an agreed, consistent focus for all functions of the business 5/9/2012 4
  • 5. Marketing Objectives and Strategy 0Objectives provide the starting point for marketing/ merchandising plans and strategies 0Strategy concerns methods devised to achieve the objectives. 0The success of the strategy should be evaluated in terms of the extent to which objectives were achieved 5/9/2012 5
  • 6. SMART objectives 0 Specific – not vague 0 Measurable – quantities and verifiable 0 Agreed – with those concerned 0 Realistic – and achievable 0 Time related – to be achieved within a specified time 5/9/2012 6
  • 7. How do these objectives fit in with overall objectives? 0 Hierarchy of objectives – marketing subordinate 0 Corporate objective – overall objectives 0 Marketing/merchandising - set out by the Marketing and Merchandising Departments 0 Marketing mix objectives – product, place, promotion, and price. 5/9/2012 7
  • 8. example... 0 Corporate objective – to grow the company 0 Marketing objective - increase market share 0 Product objective – to launch a new range 0 Distribution objective – to appoint new agents for this range 0 Promotional objectives – to increase brand awareness by 25% 0 Pricing objective – to be cheaper than competitors 5/9/2012 8
  • 9. Marketing objectives refer to : 0Sales 0Market share 0Market standing 0Customer satisfaction 0Customer awareness 0Customer retention 0Distribution penetration 0Product launches 5/9/2012 9
  • 10. WHY? 0Maintain market share 0Increase market share 0Enter new markets 0Develop new products 0Enhance product image 0Establish product as market leader 5/9/2012 10
  • 11. and also... 0Increase product range 0Enter new market segment 0Increase sales 0Increase sakes revenue 0Increase customer awareness 0Increase brand loyalty 0In all cases these objectives should be made SMART 5/9/2012 11
  • 12. SMART objectives 0 Specific – not vague 0 Measurable – quantities and verifiable 0 Agreed – with those concerned 0 Realistic – and achievable 0 Time related – to be achieved within a specified time 5/9/2012 12
  • 13. Examples of SMART 0Increase market share in the target market by 5% in the coming year 0Increase product sales to the TM by 20% in the coming year 0Increase brand awareness by 40% in the coming year 5/9/2012 13
  • 14. Constraints on Setting Objectives 0 Realistic and achievable 0 Little purpose in setting unrealistic goals 0 Organisational freedom is therefore constrained 0 Constraints are internal (lack of resources) and external (consumer demand) 0 Objectives should be achievable given the constraints that apply 5/9/2012 14
  • 15. Constraints... 0 Internal Financial – limited funds Resources - limited human resources and expertise Market position – sales, market share External Competition The economy - consumer demand Tastes and fashions – changes in customer preferences 5/9/2012 15
  • 16. A final thought... 0 “ If you don’t know where you are going any road will take you there” (Raymond Viault, former CEO of Jacobs Suchard) 5/9/2012 16