Marketing Aims & Objectives

Marketing Aims & Objectives

1. Aims

   • What a business wants to achieve.
   • Regular business aims include: Survival; make a profit; ethicalities etc.
   • In a niche market, aims may include: providing an individual service; survive etc.
   • In a mass market, aims may include: Maximize profits; take out a competitor; improve ethicalities etc.

2. Objectives

   • How a business achieves its aims.
   • Regular business objectives include: Adding solar panels; lowering overheads; advertise on TV etc.
   • In a niche market, objectives may include: selling a certain brand of clothing; selling to the youth market.
   • In a mass market, objectives may include: keeping a distnictive logo, lowering overheads, etc.

3. External Factors

   • Customer Behaviour
   • Competitor Behaviour
   • The Economy
   • Technology
   • Government
   • Changes in the Law
   • Suppliers

4. Internal Factors

   • Market Research Findings
   • Forecasted Sales
   • Forecasted Profits
   • Availability of Finance

5. Advantages of a Mass Market

   • Able to benefit from economies of scale.
   • Less risky, since busines is not dependent upon one small segment of the market.
   • Sales revenues are usually higher.

6. Disadvantages of a Mass Market

   • Increased competition.
   • Difficult to appeal to individual consumers.
   • Fixed capital costs are usually high - due to the need for large factories and expensive machinery.

7. Advantages of a Mass Market