Marketing Objectives Flashcards
1
Q
Why are marketing objectives set?
A
- motivation
- for shareholders
- to compare performance
- to provide direction/focus
2
Q
What does a marketing depatment need?
A
- marketing staff
- budget
- information
3
Q
What is a marketing strategy?
A
organising where we are now vs where we want to be
4
Q
Examples of marketing objectives:
A
- Maintaining or increasing market share
- Meeting the needs of customers, e.g CS rating of 95%
- Gaining advantage over competitors e.g improve brand recognition in certain age group
- Enter a new market e.g increase no of enquiries from EU
5
Q
What is the role of marketing?
A
To identify, anticipate and satisfy customer needs profitably
6
Q
How do corporate objectives influence marketing objectives?
A
Marketing objectives should allign with corporate objectives
