Marketing Objective

A marketing objective is a marketing target or goal that an organization hopes to achieve, such as to boost market share from 9 to 12 percent within 2 years. Marketing objectives steer the direction of the business. Operating a business without knowing your objectives is like driving a car without knowing where you want to go. Some businesses achieve a degree of success without setting marketing objectives, stumbling across a successful business model by accident. But why should anyone rely on chance? If firms set marketing objectives, the probability of success increases because decision-making will be more focused. Marketing objectives must be compatible with the overall objectives of the company; they cannot be set in isolation by the marketing department. Achieving the marketing objective of boosting share from 9 to 12 percent will help realise a corporate objective of growth. To be effective, marketing objectives should be quantifiable and measurable. Targets should also be set within a time frame. An example of a marketing objective that Nestle might set is to achieve a 9 percent increase in the sales of KitKat by the end of next year. A car manufacturer such as BMW could set the following marketing objectives: