Understanding marketing objectives

understanding marketing objectives

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Examples of marketing objectives

  • Increase brand recognition
  • Increase market share
  • Broaden its project range
  • Break into a new market segment
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Internal influences on marketing objectives

  • The corporate objectives- the marketing objectives should aim to work towards the overall goal of the business.
  • Size and type of firm- new entrants to a market may have less ambitious objectives.
  • Financial position of business- depending on the funds available they may be able to do extensive research on what makes good marketing.
  • USP
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External influences on marketing objectives

  • Position in the market- may be able to break into new segments  and build upon existing brand image.
  • Expected response of competitors- rivals may match your actions to achieve a particular objective.
  • State of the economy- if there is a slow or no growth, objectives may be more conservative, especially if you sell luxury items and not necessity items.
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