The Role of Marketing (Cambridge (CIE) A Level Business): Revision Note
Exam code: 9609
Marketing objectives
Marketing objectives are clear, measurable targets that guide a business's marketing efforts
Marketing objectives can help a business in several ways
Give direction
Teams know exactly what to aim for, avoiding untargeted campaigns that have little chance of success
Allow measurement and learning
The results of marketing activities can be compared with the objective and improved next time
Help win budget and support
Clear, data‑backed objectives can reassure senior managers and investors and motivate employees
Examples of marketing objectives
Focus | Definition | Example |
---|---|---|
Sales volume |
|
|
Sales value |
|
|
Sales growth |
|
|
Market growth |
|
|
Market share |
|
|
Brand loyalty |
|
|
Marketing and corporate objectives
Corporate objectives are whole-business goals set by senior managers that give a business its overall direction
Examples may include
'Raise profit by 15 % within two years'
'Become the most sustainable clothing brand in Asia
They are translated into marketing objectives that focus on promotional activity, pricing strategy, distribution and product features
Every advert, price or product change supports the business achieving its corporate objective
If they do not, money and resources are wasted
Case Study
LEGO’s Rebuild the World campaign
Corporate objective
After sales slipped in 2017, LEGO’s directors set a clear objective to increase revenue by 5% by the end of 2019
Marketing objective
The marketing function promised to increase the volume of sales by at least 5% by launching a bright, imagination-focused campaign called Rebuild the World
Marketing tactics
A fun TV and YouTube advert, giant LEGO statues in city centres, and the hashtag #RebuildTheWorld encouraged fans worldwide to share their own creations online
Result
In 2019 consumer sales rose by 5.6%, and the campaign attracted over 100 million views, delivering exactly the growth the directors wanted
You've read 0 of your 5 free revision notes this week
Unlock more, it's free!
Did this page help you?