3 - Setting Marketing Objectives Flashcards
What Are The 5 Marketing Objectives?
~ Sales volume and value.
~ Market size.
~ Market and sales growth.
~ Market share.
~ Brand loyalty.
One Marketing Objective Is Sales Volume, What Does This Mean?
The amount of sales expressed as a number of units sold.
One Marketing Objective Is Sales Value, What Does This Mean?
The amount of sales expressed as the total sum of money spent by consumers.
One Marketing Objective Is Market Size, What Does This Mean?
The total sales value or volume in a given market.
What Is The Formula For Market Size?
Number Of Units Sold x Price
One Marketing Objective Is Market And Sales Growth, What Does This Mean?
The percentage increase in the size of the market by value or volume over a period of time.
What Is The Formula For Market Growth?
Change In Size Of Market / Original Size x 100
One Marketing Objective Is Market Share, What Does This Mean?
Is the proportion of total market sales that a firm has.
What Is The Formula For Market Share?
Business A Sales / Market Sales x 100
One Marketing Objective Is Brand Loyalty, What Does This Mean?
Exists when customers keep returning to buy a recognised brand.
What Are The Internal Influences On Marketing Objectives?
(4 Points)
~ Finance.
~ HR.
~ Operational issues.
~ Corporate objectives.
What Are The External Influences On Marketing Objectives?
(4 Points)
~ Competitor actions.
~ Market factors.
~ Technological change.
~ Ethical and environment influences.
