What is a Marketing Objective
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In a Business Plan of a big and medium size organization, a Marketing plan is
normally form the main component of the content in it. To a a great extend, the
goal of the Business Plan are determined mainly by the Marketing Plan. It is
true because a Marketing Plan deal the revenue generation for the business. The
other components are the Financial plan, Product Development plan and other
operational plans.
In a Marketing Plan, a marketing objective one of the key components. It
highlight the the purpose of a business at a macro level and expressed in a form
of Marketing direction and goal.
Marketing Direction
For a Marketing direction, it spell out the long term intention of the
marketing for certain desired intention. It is a statement of intend that
represents the highest stated of achievement for a business. Example of some
common marketing objectives derived from excellence organizations are:-
1. Brand Reputation
2. Market Position
3. Market Share
You can notice that the three marketing directions are very high level
results of an organization and to achieve them requires the effort of the entire
organization. In order to realize these directions, a form of measures are
attached to to reflect either a direct result or a representative of it. This
measures is known as the Marketing Goal
Marketing Goal
This is a tangible measure to the effect of the three directions expressly
the most appropriate indicator. It is from this goal that strategies and key
activities are developed to fulfill these goals. Therefore, it is utmost
important that the goal established are directly reflective the intention of
each directions. Example of the Goal may be as follows:-
1. For Brand Reputation - the goal is to attain certain percentage in terms
of Brand Preference among the competitors.
2. For Market Position - the goal is to achieve top 1 position in the market
segment in terms the highest ranked sales turnover
3. For Market Share - the goal is to capture x percentage of sale turnover in
the market segment such as 60%
Once a marketing objective is clearly articulated, then only can be roll down
to the respective department for implementation.
Dr. L M Foong-PhD, is an independent consultant in Total Quality Management
and Business Planning. He writes and publishes articles and case studies.
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