Strategic Marketing Objectives

Marketing Objectives are an essential component in mapping out a good marketing plan.  This marketing plan would in turn be the guidepost when attaining the objectives being laid out. This would then trickle down to being able to achieve the goals of the company. In the end, it goes down to meeting the profit objectives of the company.

The marketing objectives are only known after a thorough assessment of both the internal and external environment of a certain company. The internal environment is assessed through knowing the strengths and weaknesses of a firm in relation to its competitors. On the other hand, the external environment is assessed through knowing the opportunities and threats in the political, economic, social and technological environment.

After going through all the extensive analysis of the strengths, weaknesses, opportunities and threats, only then can the objectives be set.  The objective must cite with precision, exactly what the company wants to achieve. The marketing objectives should also be measurable.  There should be quantifiable figures included so that at the end of the implementation it will be known how far, how near or how right on target the company is vis-à-vis the given objectives.  The objectives should also be attainable. The company has to take a look at its existing resources or the resources it intends to acquire and gauge from there if indeed the objectives are doable. Lastly, the objectives set should be time-bound. There should be a set timetable for its achievement.

If these marketing objectives are set basing on the principle of being specific, measurable, attainable, reliable and time-bound, only then can a company be clear about what it really wants to do.  The other more important consideration when it comes to setting marketing objectives is to ensure that there is a synergy between these objectives and the objectives of other functional departments in the organization.  If for instance sales are projected to grow by 20%, what is the marketing support tools needed that you can factor into the objectives. If the sales and marketing department also projects that much sales, what are the corresponding objectives of the human resources department in terms of hiring to acquire the manpower that will help achieve those sales and marketing objectives.  All these should be intertwined when a company wants to be successful in meeting its objectives.

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