Marketing Planning : The Marketing Plan Essay

1545 Words7 Pages
To attract mixed segment ther is need to marketing planning is indeed the key to the whole marketing process. The marketing objectives state just where the company intends to be; at some specific time in the future. James Quinn succinctly defined objectives in general as: "Goals state 'what ' is to be achieved and 'when ' results are to be accomplished, but they do not state 'how ' the results are to be achieved.
They typically relate to what products will be where in what market. They are essentially about the match between those "products" and "markets." Objectives for pricing, distribution, advertising and so on are at a lower level, and should not be confused with marketing objectives. They are part of the marketing strategy needed to achieve marketing objectives.
To be most effective, objectives should be capable of measurement and therefore "quantifiable." This measurement may be in terms of sales volume, money value, market share, percentage penetration of distribution outlets and so on. An example of such a measurable marketing objective might be "to enter the market with product Y and capture 10 per cent of the market by value within one year." As it is quantified it can, within limits, be unequivocally monitored; and Corrective Action|corrective action taken as necessary.
The marketing objectives must usually be based, above all, on the organization 's financial objectives; converting these financial measurements into the related marketing measurements.
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