explain the various objective of marketing
Answers
Explanation:
Marketing objectives are goals set by a business when promoting its products or services to potential consumers that should be achieved within a given time frame. In other words, marketing objectives are the marketing strategy set in order to achieve the overall organizational objectives.
Answer:
Marketing objectives are essential for any organization that wants to raise awareness about itself, its products, or its services. Great marketing objectives should help build organizational awareness and grow customer loyalty.
Marketing Objectives Overview
Marketing objectives are goals set by a business when promoting its products or services to potential consumers that should be achieved within a given time frame. In other words, marketing objectives are the marketing strategy set in order to achieve the overall organizational objectives. A company's marketing objectives for a particular product might include increasing product awareness among targeted consumers, providing information about product features and reducing consumer resistance to buying the product.
SMART Approach to Marketing Objectives
When setting objectives, it is very important to ensure that they are specific, measurable, achievable, realistic and time-specific - or SMART for short. The SMART approach allows a supervisor to effectively manage the marketing activities and be able to determine how successful new objectives will be.
The SMART approach can help achieve your marketing objectives by asking the following questions:
Specific
Are the objectives stated in a way that is precise about what you are hoping to achieve?
Measurable
Can you quantify each objective, i.e. can you use a unit of measure, such as a market share in percentage or dollars, to provide a way to check your level of success?
Achievable
Are your objectives reasonable in terms of what you can actually achieve, or are you setting your sights too high?
Realistic
Do you have sufficient employees and resources to achieve the objectives you have set? If you don't, are they likely to be unrealistic?
Time-specific
When are you hoping to achieve these objectives? You need to define a timing plan by using target timing for each specific objective.
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