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Marketing objectives

24 February, 2015 - 17:30

Having identified stakeholder expectations, carried out a detailed situation analysis, and made an evaluation of the capabilities of the company, the overall marketing goals can be set. It is important to stress that there is a need for realism in this, as only too frequently corporate plans are determined more by the desire for short-term credibility with shareholders than with the likelihood that they will be achieved.

The process adopted for determining long-term and short-term objectives is important and varies significantly, depending on the size of the business, the nature of the market and the abilities and motivation of managers in different markets. At an operational level, the national managers need to have an achievable and detailed plan for each country, which will take account of the local situation, explain what is expected of them, and how their performance will be measured. Examples of objectives might be:

  • financial performance, including return on investment and profitability
  • market penetration, including sales (by volume and value), market share by product category
  • customer growth, by volume and profitability
  • distribution, including strength in supply chain, number of outlets
  • brand awareness and value
  • new product introductions and diffusion
  • company image, including quality and added value (or service)