Marketing objectives
What are marketing objectives?
Goals set by businesses to promote goods and services within a specific timeframe.
What is brand awareness?
The extent to which a brand is recognised by consumers.
What is market segmentation?
The process of dividing a market into smaller groups of customers with similar characteristics.
What is a target market?
The specific group of customers a company chooses to focus on.
What is SMART?
The framework used to ensure objectives are specific, measurable, achievable, relevant, and time-based.
A key reason why brand awareness is important for business success.
Increased customer recognition and trust
Segmentation based on age, gender, income, and education level.
Demographic segmentation?
What is the reason companies do not target all market segments?
Limited resources or capability
This type of objective focuses on income and profit-related measures such as net profit margin.
Profitability objective?
A Singapore brand that grew rapidly through strong branding and marketing strategies.
Mr Coconut
Segmentation based on lifestyle, values, and personality.
Psychographic segmentation?
A luxury car brand that charges higher prices to target high-income customers.
Lexus
This objective focuses on increasing the percentage of customers a company controls in a market.
Market share objective?
This brand awareness strategy focuses on ensuring customers repeatedly see consistent logos, colours, and messages across all platforms so the brand stays memorable.
Consistent branding across marketing channels
Segmentation based on customer loyalty and purchasing behaviour.
Behavioural segmentation?
What is positioning?
The process of designing a brand or product to occupy a distinct place in customers’ minds.
This objective focuses on responding to competition and changing customer preferences.
Growth objective?
What is customer loyalty?
A benefit of brand awareness that encourages customers to repeatedly purchase from the same brand.
Segmentation based on location, climate, or region.
Geographic segmentation?
This statement explains why businesses must focus on specific customers.
“Not everyone can be your target customer”