Marketing objectives for for-profit organisations
- Increased sales revenue.
- Higher market share.
- Increased market leadership.
- Improved product and brand awareness.
- Developing new products.
- Enhanced brand perception.
Marketing objectives for not-for-profit organisations
- To build membership and to connect with new donors.
- To generate awareness of the NPO’s cause.
- To improve brand recognition.
- To create positive attention towards the NPO’s operations.
- To demonstrate the value of the NPO to the local community or society in general.
Frequently Asked Questions about Marketing Objectives
Marketing objectives are specific, measurable, achievable, relevant, and time-bound (SMART) goals that a company sets to guide its marketing activities. They define what the marketing efforts are intended to accomplish.
The overall objective of marketing is typically to create value for customers and build strong customer relationships in order to capture value from customers in return, leading to profitability and growth for the company.
No, objectives are not the same as a target market. A target market is a specific group of customers the company aims to reach. Marketing objectives are the goals the company wants to achieve with that target market (e.g., increase sales within that market, build brand awareness among that group).
A marketing manager must consider pricing objectives (like profit maximization, market share growth, or competitive positioning) and constraints (like production costs, market demand, competitor pricing, and legal regulations) because pricing is a crucial element of the marketing mix that directly impacts sales, profitability, and the perceived value of the product or service.
A marketing objective should ideally be SMART: Specific, Measurable, Achievable, Relevant, and Time-bound. This framework helps make objectives clear, trackable, and effective.
Common examples include increasing market share by X%, improving brand awareness by Y points, generating Z number of leads, increasing website traffic by W%, achieving a specific customer acquisition cost, or improving customer retention rates.
Organizations should set marketing objectives based on their overall business goals, conduct market research to understand the current situation, define clear, measurable, and realistic targets, ensure they align with available resources, and set a specific timeframe for achievement, often following the SMART criteria.
Communication objectives are specific goals related to how marketing messages impact the target audience. Examples include increasing brand awareness, changing customer attitudes, informing customers about product features, or encouraging a specific action (like visiting a website or making a purchase).
Digital marketing objectives are goals set for online marketing activities. These might include increasing website traffic, improving search engine rankings, generating online leads, boosting e-commerce sales, growing social media followers, or increasing email sign-ups.
A market share objective is a specific goal related to the percentage of total sales or revenue a company aims to achieve within a particular market during a defined period.
While specific goals vary, a major objective of brand marketing is to build a strong, positive brand image and reputation that fosters customer loyalty, differentiates the brand from competitors, and creates long-term value.
The primary objective of an auction market (like a stock exchange or art auction) is to facilitate the efficient discovery of the market price for an asset or commodity through competitive bidding among multiple buyers and sellers.
Google's Performance Max for retail is primarily designed to drive online sales and potentially in-store visits/sales by maximizing conversions across Google's channels (Search, Shopping, Display, Discovery, Gmail, and YouTube) based on retailer-provided product feeds and conversion goals.
