Check out our marketing objectives example that will provide useful guidance to help you write yours easily.
Example of Marketing Objectives
Marketing objectives are basically a list of goals set by a business which are to be accomplished when undertaking product/service promotion to its potential customers. They are very crucial since they define how a business will benefit from its marketing strategy. They also set the specific standards that are to be used when measuring the progress of the business. These increase the morale among the business employees which in turn leads to a strengthened teamwork towards common goals. They should always help a large or small business achieve its main mission and goals.
Generally, marketing objectives are part and parcel of any marketing plans of a business. Marketing, along with other factors, enable a business to achieve its goals, and hence success. It is the key aspect needed for your business to generate more lead sales, lead your potential customers to action and maintain a wide customer base.
Factors to consider when setting objectives
There are various factors that a business/company owner should take into consideration prior to setting out their objectives. This is necessary in order to attain complete effectiveness.
First, the goals set should address specific areas rather than generalizing. Such areas include management, business development, employee and operational issues. The goals should also be achievable. This implies that that the set objectives should be attainable as per the level of skills available within the business.
They should also be realistic, depending on the availability of resources. It is important for a business to allocate a specific period of time within which results of certain objectives should be achieved. The set measuring standards should render the goal progress quantifiable for proper evaluation.
Marketing Objectives Example
Case in point, a new business X is manufacturing a new brand of laptops. The business X hence sets out its objectives as follows:
- Create a brand awareness to the potential customer base by participating in upcoming exhibitions during December and giving out 250 laptops to the best performing students in a school.
- Have a large number of people in attendance at the official launch of the new laptop brand by inviting at least 5,000 persons by mail by January and include reputable guests.
The first objective takes all important factors into consideration. For instance, the goal is specifically to increase sales and market share. The goal is also quantifiable since business X has clearly quoted 250 as the number of laptops for distribution. The business has also allocated the month of December as the period within which it will carry out exhibitions, hence time-bound. On the part of business X, the first objective is both achievable and realistic.
The second goal of business X is to achieve a large number of persons in attendance at their official launch. This goal is measurable since the business aims at mailing out at least 5,000 invitations. It is also specific since it is addressing the issue of public attendance in the launch of the new laptop brand. The business X specifies the time by which they are supposed to have mailed out the invitations. Considering the strategies they have put in place to attract a large number of people, the objective is achievable and realistic.