Unit 3: Marketing Flashcards
1
Q
Define marketing objectives
A
The goals set for the marketing department to help the business achieve its overall (corporate) objectives.
2
Q
Define marketing
A
The management task of identifying and meeting the needs of customers profitably by getting the right product at the right price to the right place at the right time.
3
Q
Examples of marketing objectives?
A
- Share of the market, to gain market leadership.
- Total sales.
- Avg. no. of items purchased per customer visit.
- Frequency of shopping by loyal customers.
- Percentage of customers who return.
- no. of new customers.
- Customer satisfaction.
- Brand identity.
4
Q
To be effective, marketing objectives could:
A
- Be linked to corporate objectives to help businesses achieve targets.
- Be determined by senior management.
- Be realistic, motivating, achievable
