07.4 establishing market objectives

Question 1

What are Market Objectives

Answer 1

• Realistic goals to be achieved through the marketing plan
• Increasing Market Share
• Expanding the Product Mix
• Maximising Customer Service

Question 2

Increasing Market Share

Answer 2

• Business’ share of the total industry sales for a particular product

Question 3

Expanding the Product Mix

Answer 3

• Product Mix is the range of products offered by business
• Large product mix accomodate customer taste and preferences

Question 4

Maximising Customer Service

Answer 4

• Responding to the needs and problems of the customer