D2C11 Setting Objectives Of Marketing Strategy Flashcards Preview

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Flashcards in D2C11 Setting Objectives Of Marketing Strategy Deck (4)
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1

Why are clear objectives necessary

Help people in different parts of the company understand their role in the marketing process
Make it easier for company to analyze whether the strategy is working

2

Key areas of objectives

What types of marketing strategy does the company want to pursue
What are the aims of the marketing strategy
How will the success of the strategy be measured
Within what time period should be the objectives be achieved
Set budget

3

List major types of marketing strategy

Undifferentiated or mass: appealing to the whole market or a large section of it with one single product
Niche: aiming one product at a specific segment of the market
Multiple: either appealing to numerous segments with one brand (each segment potentially require a different marketing approach) or launching several brands each targeting different segments

4

List major aims of marketing strategy

Launch new product
Communicate improvements to existing product
Increase sales
Increase market share
Improve brand awareness
Improve brand identity
Attract new customers