Suitability of marketing aims and objectives

Question 1

What are financial objectives?

Answer 1

Financial objectives are specific goals a business aims to achieve regarding revenue, profit, costs, or return on investment, guiding its financial planning and performance.

Question 2

What is survival in business?

Answer 2

Survival in business is an objective in the business and refers to the ability to continue operating and remain financially viable, especially during challenging times or market fluctuations, like cutting staff or selling assets to achieve survival.

Question 3

What are market share and customer satisfaction?

Answer 3

Market share is the portion of total sales in a market that a company holds, while customer satisfaction measures how well a company’s products or services meet customer expectations.

Question 4

What are ethical and sustainable objectives?

Answer 4

Ethical objectives focus on doing business in a fair and responsible way, while sustainable objectives aim to meet current needs without harming the environment or future generations.

Question 5

What are SMART objectives?

Answer 5

SMART objectives are specific, measurable, achievable, relevant, and time frame that help ensure clarity and focus in planning and performance.