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marketing objective

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TASK 2: MARKETING OBJECTIVES Aims: these are goals that cannot be measured in reliable way. However they remain constant as a means of providing direction and focus. An Objective: is the goal, toward which a particular effort is directed; and it must also be definable and quantifiable so that there is an achievable target at which to aim. Goals: this concerns what you are trying to achieve. Goals provide the intention that influences the chosen action. E.g. the goal of ps3 is to achieve market leadership in their existing markets. Strategy: this is the method chosen to achieve the goals and objectives. Tactics: are the resources used in the agreed strategy. Marketing objectives: refers to a mission or standard that can be reasonably achieved with the expected time frame with the available resources In general, an objective is broader in scope than a goal, and may comprise of several different goals. Objectives are the most basic planning tools underlying all planning and strategic activities. They serve as the basis for policy and performance appraisals, and act as glue that binds the entire organization together. Advantages of marketing objectives: * Gives staff a sense of direction * Offers support in evaluating the success of a project * Motivates staff * Gives a target, which the business has to work to Disadvantages of marketing objectives: * * * * Businesses set marketing objectives due to the following reasons: ...read more.


First is to find new markets through market research conducted on the product by the business, the results obtained from market research are very important to the business for its future plans. Secondly, through engaging in promotional activities like promotion of movies, advertising. If the business adopt one of these promotional activities, it is likely to increase its market share and being well known for its activities. Thirdly, this can be done through revising pricing policy; this is an effective way of gaining more sales and increasing market share. If the business is selling its products lower than those of its competitors, it will have a high chance of overcoming them. * To improve its corporate image; this is very important in a business, this involves how the business it externally seen by its customers and other members of the public. This is done to see a positive image of the business by customers and the public. This involves many activities, in this sense, the Sony PS3 can gain that through making its products environmentally friendly, charity donations, to sell it products to customers at a reasonable price, being the market which is the leader of the trading activity, which all has to try and follow in the steps it take, to meet requirements set by government, raise public awareness of the business. ...read more.


On the other hand, it wishes to do so because it wants to gain more profit and win more customers from its competitors. By doing so its competitors will force to reduce their prices to win back the customers. * To open up three branches in Europe by September 2009: the company has this in mind because it wants to be the best selling video game in the whole of Europe. If the company opens up these three branches in the targeted area it may be able to produce more consoles and gain more profits. On the other hand producing more units will force the price to fall down below its former selling price. The price of the product going down below its actual selling price will make the company sell more products and gain more and new customers. * To increase productivity by 10% by in January 2009: the Sony ps3 company aims to do this because it feels that producing more will reduce the price of production. If the price of producing the product falls, there is more likely for the business to gain more customers and profits due the number of customers involved. * To increase profitability by 5% in December 2008: the company aims so because it is using strategic planning on how to manufacture, promote, advertise and sell its products. ?? ?? ?? ?? ...read more.

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