Marketing goals are the objectives which companies aim to achieve through their marketing efforts. These goals may vary based on the company's size, industry, marketing budget, target audience and other factors. However, most businesses focus on improving their brand presence, customer acquisition/retention rates and sales revenue. In this post, we will discuss some of the essential aspects of marketing goals.

What are Marketing Objectives?

Marketing objectives are specific actions or achievements that a business wants to accomplish within a particular time frame. They must be SMART (Specific Measurable Attainable Relevant Time-bound) for them to work effectively. Here are some creative examples:

• Increase Brand Awareness: This objective aims to make your target audience more aware of your product/service by promoting it through various channels such as social media, SEO optimization or paid advertising.
• Enhance Customer Experience: Improving customer experience helps you build better relationships with customers and retain them in the long run. Offering better support systems is one way to do this.

Target Market Selection

Identifying your target market is an integral part of any marketing strategy as not all products appeal to everyone equally.

There are many methods below for selecting your ideal audience:

• Geographic Segmentation - Identify customers in specific locations
• Demographic Segmntation - Categorize potential consumers according age group sex etc
• Psychographics Segmentation - Understands peoples interest and behaviour

Positioning Strategy

A good positioning strategy can help differentiate a brand from its competitors.

Some creative tactics include:

• Promoting unique features that set you apart from rivals
• Highlighting how life would change after using branded products/services.

Competitive Analysis

It's vital for brands should know who competes against each other directly or indirectly so they can make distinct selling points.

Creative ideas could look like:

• Research into competitor products and marketing campaigns to find strengths and weaknesses
• Analyzing the top-performing companies in the field.

SWOT Analysis

A SWOT analysis is a tool for identifying strengths, weaknesses, opportunities and threats surrounding your company. It reveals critical details about your business operation.

Some possibilities might include:

• Identifying your brand's unique selling points
• Assessment of industries you can enter or exit

References

1. Kotler P, Keller KL (2021), “Marketing Management," Pearson Education India.
2. McCarthy EJ, Perreault WD Jr., Sasser WE III (2017), "Basic Marketing", McGraw-Hill Higher Education.
3. Moller K (2018), "Marketing Strategy: Based on First Principles and Data Analytics”, Springer International Publishing AG.
4. Ryan D (2019),"Understanding Digital Marketing: Marketing Strategies for Engaging the Digital Generation,” Routledge Taylor & Francis Group.
   5..Proctor T(2021) Strategic Brand Management: Building Creating Measuring & Managing Brands by Oxford University Press