1. Decisions to Improve Marketing Performance

Question 1

Who has Objectives

Answer 1

All business departments, or functions, have objectives which contribute to the business’ overall mission.

Question 2

Functional Objectives

Answer 2

Departmental objectives are known as functional objectives and the marketing function may have a range of different objectives:

Question 3

Sales Value and Sales Volume

Answer 3

The marketing department may have objectives involving sales volume and sales value.

Question 4

Sales Value Objectives

Answer 4

Increasing the revenue generated through the sale of goods and services.

Question 5

Sales Volume Objectives

Answer 5

Increasing the volume of goods sold.

Question 6

Market Size

Answer 6

Market growth and sales growth refer to increasing the size of the market so that a business can try and increase its sales.

Question 7

Market Share

Answer 7

A business aims to increase its market share to attract customers from competitors.

Question 8

Brand Loyalty

Answer 8

Includes retaining customers and ensuring repeat customers.