Goals of marketing

Determining marketing activities is a very important process because it influences the success of a venture and risk of its functioning. Those activities are based on analysis and processing of marketing information acquired during research on current market state, as well as development perspectives in given period, production and business capacities of a company. Traditional marketing interpretation implies that the goal of marketing is to have such an impact on consumer so that he buy a product regardless of his needs.

The goal of marketing is to make sales dispensable. The goal is to meet and understand a customer so good that a product or service adjust to him and... sell themselves (P.F. Drucker, Management: Tasks, Responsibilities, Practises, Harper & Row, New York 1973, p. 64-65).

Marketing goals should

• be reflected in numbers, for instance: while formulating them, a deadline ought to be determined,
• be clearly formulated,
• be coherent with each other.

Development of marketing goals

• Transaction marketing - its aim is to sale generated goods to make a profit.
• Expansive marketing - the main purpose is increasing revenues from sales continuously.
• Marketing aimed at the enterprise value - the objective is to gain position in the market, clients, and partnership with them.

Development of marketing goals can be also related to evolutionary stages of global marketing goals such as:

• Usage maximization - the greater the sales and usage of commodities by consumers, the greater the profit of producer. This statement makes sense only while switching from producer market to buyer's market.
• Reaching maximum level of satisfaction. It occurs when in a competitive market every consumer has a possibility of choosing those commodities that provide him with the highest level of pleasure. This purpose relates to marketing politics, but only in theory.
• Expansion of commodity mix selection. This marketing sphere concerns individual likings, necessities and requirements of consumers. In order to satisfy them, a manufacturer should offer a wide range of products.
• Life quality improvement. This aim is wide - it involves all fields of marketing rules and objectives. It enables a producer to get product assessment from consumer's perspective.

Goals of marketing

All marketing goals can be grouped depending on planning period in the following way:

1. Strategic goals - they are aimed at revenue, sales and market share maximization, as well as formulating and realization of the action programme for the future, i.e. about 3-5 years,
2. Tactical goals - in the market on which enterprise operates, a current market situation is regarded, for every product, an objective is applied during a period of one year at the maximum,
3. Operational goals - they regard the development of marketing programme, considering all details and environment characteristics projected in time, in every segment of the market.

Major marketing goals include:

• exploration, analysis and evaluation of current and potential customers' needs,
• marketing support in the development of a new product (service),
• analysis of competitors
• assessment and forecasting of actual and potential and potential markets,
• supply of services,
• selling of goods (services),
• creating stock policy,
• formulating and realization of company's pricing policy,
• creation of enterprise's operating strategy.

Contemporary marketing goals of companies

The modern take on marketing presents its goals widely and concentrates business' attention on a client. Essentially, these goals are:

1. Defining and satisfying consumers' needs in a way that maximizes profits of a company. In order to discover consumer's needs and fulfill them, it is indispensable to understand and get to know them. Due to proper market research, a company can advance and make greater profits because is attractive for clients who buy its products (services).
2. Building relationships with buyers. The loyalty of customers particularly significant. It is important to take care of a good image because owing to a fierce competition loss of a client is highly probable. Good relations with clients bring long-term gains.
3. Arousing and maintaining new need in a client. It is related to entry of a new, unknown product on the market. Owing to demand for a new product (service), a company expands and has a possibility to increase its profits. It also implies encouraging and attracting new clients with a promise of providing new products and services of the highest quality.

Examples of Goals of marketing

• Brand Awareness: The goal of this type of marketing is to increase brand recognition and make customers aware of the product or service offered. This is usually achieved through traditional advertising and PR campaigns.
• Lead Generation: The goal of lead generation is to acquire new customers and grow sales. This is done through creating compelling content and campaigns that attract potential customers and encourage them to take action.
• Customer Retention: The goal of customer retention is to keep existing customers loyal and engaged. This is achieved by providing them with relevant content and rewards that keep them coming back for more.
• Increase Revenue: The goal of increasing revenue is to increase the amount of money a business is making. This is done by optimizing product and services offerings, improving pricing strategies, and optimizing marketing campaigns.
• Market Expansion: The goal of market expansion is to reach new customers and expand into new markets. This is done by launching new products and services, targeting new customers with relevant messages, and building relationships with new partners.

Advantages of Goals of marketing

The goals of marketing offer several advantages:

• They provide focus and direction for the company. Goals of marketing help to define the company's target market, the products and services it will offer, and the strategies it will use to reach its desired audience. Goals also set the expectations for the company's performance and help to align the company's resources to achieve those expectations.
• They provide the basis for measuring performance. Goals of marketing provide a benchmark for measuring the success of the company's activities. They enable the company to track the progress of its marketing efforts and make adjustments as needed.
• They provide accountability. Goals of marketing help to hold the company responsible for achieving its objectives. They serve as a reminder of the company's commitments to its customers, employees and shareholders.
• They provide motivation. Goals of marketing can be used to motivate the company's staff to work hard and perform to their fullest potential. They can also be used to motivate customers to purchase a product or service.
• They can be used to create a competitive advantage. Goals of marketing can be used to differentiate the company from its competitors. For example, they can be used to create unique products and services or to establish a unique brand image.

Limitations of Goals of marketing

The limitations of the goals of marketing are:

• Effectiveness of marketing activities depends on the overall market situation. It is difficult to predict how the market will change and how the consumers’ needs will evolve. This makes it hard to determine the most appropriate marketing activities to suit the current market demand.
• Another limitation is the limited budget of a company. Companies may not be able to afford to implement all the marketing activities they need to promote their products and services.
• Companies also need to consider the cost of their marketing efforts, such as the expenses for advertising, promotion, and research.
• Additionally, companies must take into account the impact of their marketing activities on their brand image. Poorly executed marketing activities can have a negative impact on the brand, leading to a decrease in sales and reputation.
• Finally, companies must pay attention to the legal and ethical implications of their marketing activities. They must ensure that their activities comply with laws and regulations, as well as being respectful and not offensive to any parties.

Other approaches related to Goals of marketing

One of the main goals of marketing is to increase the visibility of a company, product or service and to increase the sales figures. Other approaches to the goals of marketing include:

• Building relationships between customers and a company - by creating meaningful interactions and engaging customers in activities, companies can build strong relationships with their customers.
• Enhancing customer experience - marketers can create experiences that customers will enjoy and remember, which in turn will increase loyalty and encourage them to buy more.
• Increasing brand awareness - through effective marketing campaigns, marketers can ensure that their company’s logo and product are seen by more people, increasing the brand’s visibility and reputation.
• Generating leads - marketers can use various tactics to generate leads, such as email campaigns, social media marketing and SEO optimization, to drive potential customers to their website.
• Improving customer service - by understanding customers’ needs and concerns, marketers can develop strategies to provide better customer service and increase customer satisfaction.

In summary, the goals of marketing involve increasing visibility and sales, building relationships with customers, enhancing customer experience, increasing brand awareness, generating leads, and improving customer service. By understanding these goals, companies can effectively design and implement marketing strategies to achieve their desired objectives.

Goals of marketing — recommended articles

Consumer orientation — Brand management — Selling process — Value drivers — Marketing mix — Brand value chain — Brand leader — Customer loyalty — Sales target

References

• Barich H., Srinivasan V.,(1993) Prioritizing marketing image goals under resource constraints, Sloan Management Review; Cambridge, Mass., Vol. 34, No. 4., p. 69.
• Kotler Ph., Zaltman G., (1971) Social Marketing: An Approach to Planned Social Change, Journal of Marketing, Vol. 35, No. 3., p. 3-12.
• Kotler Ph., Roberto N., Lee N., (2002) Social Marketing Improving the Quality of Life, Social Marketing Services Inc., SAGE Publications.
• Kotler Ph,(2005) The Role Played by the Broadening of Marketing Movement in the History of Marketing Thought. Journal of Public Policy & Marketing, Vol. 24, No. 1, p. 114-116.