The document discusses marketing objectives and how they are used by companies. It provides definitions of objectives, notes that objectives must be specific, measurable, agreed upon, realistic and time-bound. Marketing objectives guide a company's marketing plan and strategy and are set to achieve overall corporate goals. Examples are given such as increasing market share, sales or brand awareness. Objectives help motivate teams and provide a shared focus. Constraints like resources, competition and the economy must also be considered when setting objectives.

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