A1 Marketing Aims and Objectives
What are marketing aims?
Marketing aims are the broad, long-term goals that the marketing department seeks to achieve with its efforts. They should aligned with the organisation’s overall vision and aims but with a focus on sales and customer engagement. Typical marketing aims include;
Understanding customer wants and needs
Developing new products
Improving profitability
Increasing market share
Diversification
Increased brand awareness and loyalty
What are marketing objectives?
Marketing objectives are specific, short-term goals for the marketing team. They guide what needs to be accomplished in a specific time frame. When these objectives align with broader marketing aims, achieving them helps meet the overall organisation’s goals.
Exam tip: Marketing objectives must be relevant to the case study and justifications well developed. Write 3 SMART marketing objectives that are relevant to the business case study. Use specific data to justify why each objective would be a priority for this business and the impact it would have on the marketing mix.
What are SMART objectives?
Effective marketing objectives should adhere to a SMART framework; specific, measurable, achievable, relevant and time-bound. Some examples of SMART marketing objectives include;
Achieve an increase of x% in social media followers over (x number of weeks)
Achieve an increase of x% in new subscriptions by (date)
Achieve an increase of x% in the number of returning customers from group x by (date)
Achieve an increase of x% in the number of new customers from group x by (date)
Launch a specific number of social media programmes/content by (date)
Launch X new product line for customer group X by (date)
| Marketing Aim | Marketing Objective | |
|---|---|---|
| Starbucks | Understanding customer wants and needs | Increase customer satisfaction scores by 15% within six months through enhanced customer feedback surveys and personalized marketing campaigns |
| Apple | Developing new products | Launch a new product line, aiming to achieve sales of 1 million units within the first three months post-launch by leveraging pre-launch marketing strategies. |
| Walmart | Improving profitability | Improve profit margins by 5% over the next fiscal year by optimizing supply chain efficiencies and reducing operational costs. |
| Tesla | Increasing market share | Increase market share in the electric vehicle sector by 10% within one year by expanding its product range and enhancing marketing efforts in new regions. |
| Amazon | Diversification | Diversify its offerings by launching a new grocery delivery service, targeting a 20% penetration in the online grocery market within 18 months. |
| Nike | Increased brand awareness and loyalty | Boost brand awareness among Gen Z consumers by increasing social media engagement by 25% over the next year through targeted influencer partnerships and campaigns. |
