Marketing objectives for for-profit organisations
1. Increased Sales Revenue
This objective focuses on boosting the amount of money brought in from sales before any expenses are deducted. Apple Inc. serves as a prime example. By consistently innovating and releasing new or updated products, such as the iPhone series, Apple successfully attracts both new and existing customers, thereby increasing its sales revenue.
2. Higher Market Share
Gaining a larger portion of sales within a particular market is often a key objective. A classic example is Samsung in the smartphone market. Samsung employs a combination of competitive pricing, rapid adoption of technology, and extensive marketing campaigns to increase its market share, competing directly with other giants like Apple.
3. Increased Market Leadership
Becoming the leading player in a specific market can enhance a company’s reputation and influence. Google’s dominance in the search engine market is a result of constant innovation, providing reliable and relevant search results, and branching out to offer a suite of tools and services that keep users within its ecosystem.
4. Improved Product and Brand Awareness
This involves making potential customers more aware of a company’s products or brand. Coca-Cola’s global marketing campaigns, which utilize a mix of traditional advertising, social media, and sponsorships (like the FIFA World Cup), aim to maintain and increase brand visibility and awareness worldwide.
5. Developing New Products
Introducing new products can open up additional revenue streams and attract different customer segments. For instance, Amazon’s development of the Kindle e-reader expanded its market from online retail to technology, capturing readers transitioning from physical books to digital formats.
6. Enhanced Brand Perception
Enhancing how customers view a brand can lead to increased loyalty and sales. Tesla, Inc. focuses on innovation, sustainability, and high-performance electric vehicles, positioning itself as a leader in green technology and revolutionizing perceptions around electric cars.
Each of these objectives requires a tailored approach involving market research, product development, and strategic marketing campaigns. The examples given illustrate how various companies have successfully navigated these objectives to achieve growth and strengthen their market positions.
Marketing objectives for not-for-profit organisations
1. To Build Membership and Connect with New Donors
NPOs aim to grow their base of supporters and engage with potential new donors to ensure a steady flow of contributions. Example: The World Wildlife Fund (WWF) uses social media, content marketing, and targeted campaigns to showcase its conservation efforts, encouraging people to become members or adopt an animal. Their “Adopt a Panda” campaign is an engaging way to connect with donors, offering them a tangible connection to the cause they are supporting.
2. To Generate Awareness of the NPO’s Cause
Raising awareness about the cause is crucial for NPOs to garner support and mobilize public opinion. Example: Amnesty International leverages a combination of advocacy, public demonstrations, and digital campaigns to highlight human rights abuses around the world. Through viral videos and social media hashtag campaigns, they reach a global audience, making complex issues more accessible and understandable.
3. To Improve Brand Recognition
Strong brand recognition helps NPOs stand out in a crowded field and increases the likelihood of support. Example: The Red Cross has achieved worldwide recognition through its distinctive logo and the widespread visibility of its disaster relief efforts. Their brand is synonymous with emergency response, which helps in quickly mobilizing resources and volunteers when disasters strike.
4. To Create Positive Attention Towards the NPO’s Operations
Positive media coverage and public perception can boost an NPO’s credibility and attract more support. Example: Doctors Without Borders (Médecins Sans Frontières, MSF) regularly shares updates on its medical humanitarian missions across the world. By showcasing stories of impact and survival, they create positive attention that underscores the critical nature of their work, leading to increased support and donations.
5. To Demonstrate the Value of the NPO to the Local Community or Society in General
Showing the tangible impact of an NPO’s work helps justify the need for donations and support. Example: Habitat for Humanity uses before-and-after stories of families and communities they’ve helped to illustrate the direct benefits of their housing projects. Through local events, volunteer stories, and media coverage, they demonstrate how they are making a significant difference in communities, encouraging more volunteers and donations.