Marketing Promotional Objectives

Marketing Promotional Objectives

An objective represents targets that need to be reached to achieve the

company’s aims. These objectives can affect the way businesses

operate. Business organisations can achieve their set objectives in

short periods or/and long periods. These are known as short-run

objectives and long-run objectives. A short-run objective lasts up to

one year, and it is used to achieve long-run objectives. A long-run

objective last up to three or five years, and they are quite difficult

to reach.

Marketing objectives are objective that can help to decide where share

of the market- size and revenue is needed to achieve the company’s

mission and objectives. Marketing objectives also decides how the

elements of marketing mix can help achieve these in each customer

segment. Here are some examples of marketing objectives:

1. To increase sales revenue

2. To increase market share

3. To maintain/improve product and brand image

4. To give quality assurance

Promotional objectives are objectives that are used to draw customer’s

attention to a product or service, or even a business. Here are some

examples of promotional objectives:

1. To make consumers aware of a product or service

2. To remind existing customers of a product so, they might

re-purchase the product

3. To show their product is better than, that of a competitor

4. To reach a targeted audience which might be geologically

dispersed

5. To develop or improve the image of the business

To achieve its promotional objectives, a business has to set its

promotional strategy. A well-known mnemonic used to describe a

promotional strategy deigned to persuade a customer to make a purchase

is AIDA. Here is an explanation of AIDA:

· A- a customer’s attention is captured, and he or she is made aware

of the product (good and service)

· I- the impact of the promotion stimulates the customer’s interest