Saturday, December 15, 2018
'Understanding Marketing Objectives Questions\r'
'Marketing objectives moldiness be ground around the embodied objectives. 3. In Chapter 1 the concept of wise(p) objectives was introduced. Give half dozen examples of SMART selling objectives. (6 marks) Increase market take by 10% within 2 age Achieve sales revenue of E 10 million within 2 years. Introduce 5 new products by 2016. Increase consumer aw beness of the line of products by in 2016. Improve overall added nurse on product X by E per unit this year. Increase repeat sales to 60% within 3 years. 4. What problem might prepare if a firms selling part ignored its unified objectives? (4 marks)A problem that whitethorn arise if a firms merchandising discussion section ignored its corporate objectives is that a escape of coordination within the vocation is likely. This is because the marketing departments targets may non be clear to the other departments and when they are chance ond, they may serve no use to the rest of the business as they will non correspond to the corporate objectives. 5. Analyses two reasons why a depression come with would set marketing objectives. (6 marks) Two reasons why a printing company would set marketing objectives is because it allows the printing company to measure their success.This can be through with(p) by comparing their targeted figure to their actual figure. Also, a printing company would set marketing objectives to remind employees of the marketing department. These employees can then be rewarded for their big businessman to strike their targets by financial or non-financial rewards. 6. spot and explain three internal reckons that might figure out a vogue retailers marketing objectives. An internal component that might beguile elan retailers marketing objectives could be the corporate objectives. This is because the marketing objectives would aim to help achieve the corporate objectives.Due to this, the corporate objectives will influence on the targets that the marketing department can re construct. For example, if the corporate objectives were to displace the quality of their product, then the marketing department could not shoot the objective of discrediting costs as tit would be inconsistent with the corporate objectives. another(prenominal) internal factor that might influence a room retailers marketing objectives could be the staff available. This is because the marketing objectives will not be able to be met unless the staffs be possessed of the capability to achieve them.For example, if the marketing objectives were to break their products quality, the staff available may not have the necessary training or skills In distinguish to actually achieve this objective. Finally, the last internal factor that might influence a fashion retailers marketing objectives could be the departments finances. This is because the marketing department will be limited to the objectives that they can make based on whether they can actually afford to achieve their objective. If they do not have the necessary finances to achieve their objective then the objective was not SMART as it wasnt realistic. . Identify and explain three outside factors that might influence a fashion retailers marketing objectives. An external factor that might influence a fashion retailers marketing objectives might be the unavoidably or wants Of the consumers. This is because, especially with fashion, the wants of the consumer are always ever-changing. Therefore, the department must always be can-do with their decisions to make sure that they meet these needs and wants of the consumers. When setting objectives, the marketing department must also be dynamic with their sections.This is because when consumer wants change, the marketing objectives will be influenced. For example, if the wants of the consumer change to lower quality and lower priced clothing, then if the marketing department had the objective of raising quality, then they would have a reduction in consider as the demand is moving elsewhere in an always changing market. Another external factor that might influence a fashion retailers marketing objectives could be changes in the economy. This is because the economy will decide on how much money people have to spend.If people have less to Penn then the customer numbers for a fashion retailer would fall because expensive fashion is not necessarily a need. Finally, the last outside(a) factor that might influence a fashion retailers marketing objectives could be the actions of competitors. This is because their actions will have an push on a companys sales and customers. As fashion is a very competitive market, the actions of more competitors are likely to have a larger equal on sales and customers. [f the fashion retailers objectives are based around these, they can be heavily influenced by competition.\r\n'
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