3.1 Setting marketing objectives

Question 1

Different objectives in the marketing function

Answer 1

• Sales volume (sold goods) and sales value (increasing revenue)
• Market size (market and sales growth)
• Market share (attracting customers from competitors)
• Brand loyalty (retaining customers and ensuring repeat customers)

Question 2

What is likely to happen following the rise of online retailers, such as Amazon

Answer 2

The market share for high street retailers will shrink