Marketing Objectives

Marketing Objectives

Increasing the company’s revenue collection by 5% within the next 4 years. Such an increase will play an instrumental role towards enhancing the company’s profits in the future. This is a vital approach for maintaining financial stability in the organization. Additionally, this objective will help the company expand its range of products as well as services.

Expanding the company’s market capitalization by 1% in two years’ time. Through the improved market capitalization, the company will have a greater market share and this will greatly enhance productivity. A greater market capitalization is an essential component of the firm’s competitive strategy (Ferrell, 2010). Through the increased market capitalization, the company will deal with competition from other organizations in this industry.
Increasing the brand awareness for the organization by 10% in one year. Through the brand awareness, the company will have the ability to attract more customers from different parts of the world. This objective aligns with the goal of increasing the company’s revenue collection. Brand awareness will also serve as a critical tool for maintaining customer loyalty.
To attain an annual growth rate of 7% over the next five years. Such a growth rate will enable the company achieve its goals for expansion. Without consistent expansion, it would be difficult for the organization to achieve the other marketing objectives. Consequently, the annual growth rate of 7% will strengthen the company’s capacity to fulfill its mission.
To train the company’s employees about their role in promoting the firm. This objective is vital in terms of enhancing the company’s image in the public domain. It will also strengthen the ability of employees to work as a team. Employees are the most essential assets to any organization. The company must thus invest in training the workforce.
To increase the scope of the company’s promotional strategies to include platforms such as the internet and social networks over the next one year. These promotional strategies will help in creating awareness about the company’s products to a greater population. Promotion is also a vital element for dealing with the threat of competition (Ferrell, 2010).
To increase the company’s annual sales by 1%. This objective will serve as a stepping stone towards the enhancement of the company’s revenue collection within the next four years. It would be difficult for the company to attain the revenue projections without increasing its sales. Consequently, this objective is an integral component of the organization’s mission.
To expand the company’s revenue stream to incorporate at least ten products and services. The diversity will be helpful in terms of minimizing the company’s risk. Spreading risks is a crucial element in any business entity. It helps in averting potential losses as well as streamlining productivity.
To increase the organization’s workforce by at least 1% over the next one year. A larger workforce will help in streamlining the nature of operations in the company. Additionally, a greater workforce will enhance the standards of specialization within the company’s human resource systems.
To enhance the organization’s innovativeness by increasing its investment in information technology by 10% within the next four years. The new information systems will help in streamlining the company’s management framework, marketing strategies and strategic planning. It is thus an effective approach towards attaining the company’s goals for innovativeness.