Marketing strategies explain how the marketing function fits in with the overall strategy for a business. Examples of marketing strategies could be:
Once a strategy has been identified, then the business must develop an action to turn the strategy into reality. The starting point for this plan is the setting of marketing objectives.
Marketing objectives are the specific targets for marketing set by the business to achieve their corporate objectives.
Examples of marketing objectives might be:
It is important for a business to set marketing objectives because managers can then have targets for their work. They can then measure more effectively the success or failure of their marketing strategies to achieve these objectives.
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