3.1.1

Setting Marketing Objectives

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Setting Objectives

All business departments, or functions, have objectives which contribute to the business’ overall mission. Departmental objectives are known as functional objectives and the marketing function may have a range of different objectives:

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Sales volume and sales value

  • The marketing department may have objectives involving:
    • Sales volume - increasing the volume of goods sold.
    • Sales value - increasing the revenue generated through the sale of goods and services.
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Market size

  • The marketing department may have objectives involving market size, market growth and sales growth which refer to increasing the size of the market so that a business can try and increase its sales.
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Market share

  • The marketing department may have objectives involving market share which involves a business increasing its market share to attract customers from competitors.
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Brand loyalty

  • The marketing department may have objectives involving brand loyalty which includes retaining customers and ensuring repeat customers.

Jump to other topics

1What is Business?

2Managers, Leadership & Decision Making

3Decision Making to Improve Marketing Performance

4Decision Making to Improve Operational Performance

5Decision Making to Improve Financial Performance

6Improving Human Resource Performance

7Analysing the Strategic Position of a Business

8Choosing Strategic Direction

9How to Pursue Strategies

10Managing Strategic Change

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