3 - Setting Marketing Objectives Flashcards
What Are The 5 Marketing Objectives?
~ Sales volume and value.
~ Market size.
~ Market and sales growth.
~ Market share.
~ Brand loyalty.
Describe The Marketing Objective ‘Sales Volume’
Number of units sold.
Describe The Marketing Objective ‘Sales Value’
Monetary value of the sales made.
Describe The Marketing Objective ‘Market Size’
Total sales value or volume, in a given market.
How Is ‘Market Size’ Calculated?
∑ All Sales In The Market
Describe The Marketing Objective ‘Market Growth’
Percentage increase in the size of market, over a period of time.
How Is ‘Market Growth’ Calculated?
New Market Size - Old Market Size / Old Market Size x 100
Describe The Marketing Objective ‘Sales Growth’
Percentage increase in sales volume or value, over a period of time.
How Is ‘Sales Growth’ Calculated?
Sales This Year - Sales Last Year / Sales Last Year x 100
Describe The Marketing Objective ‘Market Share’
Percentage of sales in a market, made by one firm or brand.
How Is ‘Market Share’ Calculated?
Business Sales / Market Size x 100
Describe The Marketing Objective ‘Brand Loyalty’
Holding on to existing customers.
