Marketing objectives set out what a business wants to achieve from its marketing activities. Jim RileyBefore founding tutor2u with twin brother Geoff, Jim was a director at Thomson Travel Group Plc and a Corporate Finance and Strategy specialist at PwC.
Save countless hours of resource preparation and lesson planning with these support toolkits for exams based on pre-released case studies and research materials. In the longter term, consumer responsea€”such as purchase rates and beliefs held about the branda€”can be assessed in more detail. Many foods also spread as some groups of consumers a€?imitatea€? others they see consuming them, and some are encouraged to try new foods based on word-of-mouth communication. Some examples of marketing objectives which meet these criteria would be: Increase company sales by 25% by 2016 Achieve a market share of 30% for Product C within 3 years of launch Increase the percentage of customers who rate service as "excellent" from 80% to 85% within 18 months It is important that marketing objectives and marketing plans support the overall objectives of the business.
The promotional activities needed for a given product will depend on factors such as its current stage in the product life cycle.
Some strategies may seem brilliant may, under stricter analysis, may be recognized as unrealistic.
The next test is then whether this consumer responsea€”such as improved attitudesa€”actually results in increased market share or higher profits. Some food products have great potential for sales growth through expansion of the customer base.


Few consumers today are aware of the prickly pear, however, but farmers who grow this cactus plant would like to market it as a way to decrease a€?bad,a€? low-density cholesterol without reducing a€?good,a€? high density cholesterol levels. For prickly pear growers, simply getting more people to know that their product exists will be a challenge.
These objectives need to be reasonably specific and manageable; thus, merely saying that the goal is to maximize profit is not enough. Improving quality, for example, might be achieved either by increased research and development, the use of higher quality materials, or by investing in new manufacturing technology. Even a successful strategy must be frequently re-evaluated to address changing market conditions such as change in competitor strategies, costs of materials, or changes in consumer tastes.
Once more people know, a significant challenge is going to get more people to actually try the product. The most appropriate choice will depend on factors such as cost and effectiveness, but may also depend on risk.
This strategy appears to have been used in marketing the Hot PocketsA® convenience products. This may be difficult to accomplish because of the high cost of the product and the vast number of choices of other products that consumers can consume.
There may be a new technology that, if it can be perfected, would represent a large breakthrough but also carries a risk that it will not work.


A firm might like to reduce costs, improve quality, increase distribution channels, increase awareness, and improve consumer percpetion of the product at the same time. A larger firm may be able to shoulder such a s risk but for a smaller firm, the risk may be prohibitive.
If a product category catches on, emphasis may then need to switch to brand differentiation and the firm may need to work on getting consumers to hold favorable beliefs about their brand.
However, some of these objectives, such as reducing cost and improving quality at the same time, may not be compatible.
Note that as a strategy is considered and potential complicatons arise, it may be necessary to reassess appropriate objectives. In later stages of the product life cycle, where most consumersa€™ opinions have largely been set, temporary sales increases, usually through price promotions, may be the only realistic objective. The firm may also not have the resources to pursue all the other objectives at the same time.



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