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Setting Objectives in a marketing strategy:
Objectives setting is one of the first things to be done while planning a marketing strategy. Objectives are of utmost importance and without them a strategy would have no meaning. They are the goals that a company or a brand sets for itself before launching its marketing programmes. The objectives of a perfect marketing strategy look after the qualitative as well as the quantitative details. The objectives are mostly concerned with:
- Increasing the sales of the company.
- Achieving market share for products from time to time.
- Increasing the number of loyal customers.
- Launching new products.
These are only a few instances; a company can have more objectives. But there are two things to be kept in mind while setting the objectives. Each of the objectives is to be achieved within a specified period. The strategy must operate within a pre-determined budget. Failing to keep up with these two criteria would mean the objectives are not being met.
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