3. establishing market objectives

• Marketing objectives are :: the realistic and measurable goals to be achieved through the marketing plan.

  • should be closely aligned with business goals,
    • however they still need to be primarily customer oriented.

• The three main marketing objectives are:
  ?

1. Increasing market share
2. Expanding the product range
3. Maximising customer service

Increasing market share

• Market share refers to :: the businesses share of the total industry sales for a particular product.

Expanding the product range

• Product range is :: the total mix and range of products offered by a business.

• Businesses need to develop an ideal product range

  • they do this by conducting market research
    • uncovers the needs and wants of different target markets

Maximising customer service

• SEE Customer service
• Customer service is : responding to the needs and problems of the customer.
• Businesses that have a high level of customer service will have high levels of customer satisfaction and a positive reaction from customers regarding their goods and services.