• Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

marketing objective

Extracts from this document...

Introduction

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.

Middle

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.

Conclusion

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.

The above preview is unformatted text

This student written piece of work is one of many that can be found in our AS and A Level Marketing & Research section.

Found what you're looking for?

  • Start learning 29% faster today
  • 150,000+ documents available
  • Just £6.99 a month

Not the one? Search for your essay title...
  • Join over 1.2 million students every month
  • Accelerate your learning by 29%
  • Unlimited access from just £6.99 per month

See related essaysSee related essays

Related AS and A Level Marketing & Research essays

  1. BTEC BUSINESS UNIT 2

    The consequences could lead to a dismissal of the business. Work as hard as they can The employee not only expects the employee to work whilst they are at work but also to work as hard as they can. This means that all of the work done at Coca Cola

  2. From a marketing point of view, what were the main objectives or the Hovis ...

    This stage will see many people become involved in the development to make sure it is possible to manufacture the product on a large scale. Stage six is test marketing. This is normally done in a selected area or with a limited production run.

  1. Unit 3 - Marketing Research And Marketing Mix

    Internal constraints that could affect the marketing for the Ribena tropical could be: * Distribution - A key factor that is needed to be recognised in the distribution of the product itself. Mentioned earlier as part of the business' placement scheme Ribena would sell directly to supermarket stores such as Asda, Sainsbury's and Tesco.

  2. For this assignment I have been asked to produce a new marketing strategy for ...

    SWOT Analysis for Coca-Cola: Strengths: Coca-Cola has been a complex part of America for over a century. The product's image is loaded with over-romanticizing, and this is an image many people have taken deeply to heart. The Coca-Cola image is displayed on T-shirts, hats, and etc.

  1. business planning unit 8

    Office costs My business will have a small office, in which there will be a computer fitted in with all the essential software's (Microsoft word, excel, publisher, PowerPoint, Access) and internet access. It will also have a printer, including a photocopy machine.

  2. Business Studies Company Profile

    Each of the Series ranges has different competitors. BMW CAR COMPETITORS CAR 1 SERIES MERCEDES A CLASS, AUDI 3, VOLKSWAGON GOLF AND FORD FOCUS. 3 SERIES AUDI A4, JAGUAR X-TYPE, MERCEDES C-CLASS, LEXUS IS200. 5 SERIES AUDI A6, MERCEDES E-CLASS, SAAB 9-5, JAGUAR S-TYPE, VOLVO S80 6 SERIES JAGUAR XK,

  1. Unit 1 Marketing Proposal: A01

    Research and development department gather information of new and existing products and see how they can be improved also they assess the performance of the products. They help the marketing department by using the results of the market research and see what they can do to benefit both the customers

  2. Business Aims and Objectives and the Marketing Mix

    to provide them with an idea in order to generative a more advanced activity in comparison to the competitors. In conclusion to the examples of internal and external constrains that hamper certain marketing activities, it?s essential for the marketing department to ensure that is has possibility and considered plans at

  • Over 160,000 pieces
    of student written work
  • Annotated by
    experienced teachers
  • Ideas and feedback to
    improve your own work