4-1 Blog: Marketing Objectives

The way a company markets themselves and their product is crucial to their brand voice. Companies implement certain marketing objectives to create brand awareness and customer loyalty. 

First and foremost, setting marketing objectives gives you something with which to track and measure your success. “Your marketing goals have key performance indicators (KPI) and benchmarks. These KPIs track the progress toward your goal and clearly display if you’re on track to hitting those objectives.” (Lang, n.d.) Having measurable goals doesn’t just help the marketing team; it helps the other supporting teams, like sales and operations, work together towards mutual, company-wide objectives. One major goal could be understanding what the potential market share is for the company and keeping goals within that range. “Without defined goals, there’s no clarity on what needs to be accomplished, and your brand will struggle to reach its potential. By implementing a straightforward marketing plan, your company will have the goals it wants to achieve and the execution plan to meet those marketing objectives.” (Rodriguez Lang, n.d.) 

Companies use marketing objectives to understand how their product is resonating with their consumers and what tactics need to be changed to reach potential customers outside of the obvious target market. “For example, video games are bought most often by males between the ages of 13 and 49. Although this does not imply that people outside of this demographic will never buy a video game, it suggests that spending money to put ads right in the hands of members of this demographic will result in more sales than money spent advertising to different demographic” (Lake, 2019) Marketing activities can help shape how the organization takes on the task of obtaining a sale. 

Beginning with how the mission of the company is portrayed, the company needs to be ethical in the marketing of their brand. “Some marketers confuse consumers by overloading them with technical information, using phrases that sound different from their true meaning and otherwise misleading consumers without telling a lie.” (Ashe-Edmunds, n.d.) It’s important to be straightforward and honest about the product with potential consumers if you want to maintain relationships with those people. “Over the long term, an ethical marketing strategy is effective because customers derive the benefits they expect from using the products or services your company offers.” (Markgraf, n.d.) Not only should marketing objectives be achieved ethically, they should also adhere to the many strict legal regulations set in place to keep the company and its customers safe and happy. “The areas of advertising and sales serve as prime examples. Advertising ethics are highly regulated by law when it comes to honesty, discrimination and young audiences, but advertisers need to go the extra mile to avoid offending viewers even within the boundaries of the law.” (Ingram, n.d.) One crucial way to immediately develop a solid brand voice is to represent your marketing objectives, goals and mission truthfully to the public. Every picture, post, print ad, etc. needs to be an honest representation of the product or service you are offering. 

References

Lake, Laura. (2019, July 5). The Balance Small Business. Setting Marketing Objectives for Your Business. Retrieved from https://www.thebalancesmb.com/what-is-a-marketing-objective-2295532

Rodriguez Lang, Vanessa. (n.d.) UHURA Network. Your Ultimate Guide to Marketing Objectives (Define, Measure & Examples). Retrieved from https://uhurunetwork.com/marketing-objectives/

Ashe-Edmunds, Sam. (n.d.). Ethics in Marketing Communication. Small Business – Chron.com. Retrieved from http://smallbusiness.chron.com/ethics-marketing-communication-40554.html

Kaho, Mason. (2019, March 11). Examples of Marketing Objectives. Small Business – Chron.com. Retrieved from http://smallbusiness.chron.com/examples-marketing-objectives-20231.html

Ingram, David. (n.d.) AZ Central. Ethics in Product Price, Placement & Promotion in Marketing. Retrieved from https://yourbusiness.azcentral.com/ethics-product-price-placement-promotion-marketing-28890.html

 

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