Marketing Objectives and their Support of Business Objectives

Business Objective: Maintain or Increase Market Share

Supporting marketing objectives might be:

• Achieve revenue growth of 20% per year for the next four years
• Increase our market share in the UK by 5% by 2017
• Add 1,000 new customer accounts generating at least £100,000 per account within four years

Business Objective: Develop Innovative New Products

Supporting marketing objectives might be:

• Launch at least 25 new products into the industrial channel in 2016 and 2017
• Grow average first-year sales of new editions by 25% in the Higher Education sector

Business Objective: Increase the Quality of Service to Existing Customers

Supporting marketing objectives might be:

• Achieve at least an 95% excellent customer service rating each month
• Increase the proportion of sales bookings from repeat business to 45% for the summer season

Business Objective: Enter a New Market

Supporting marketing objectives might be:

• Supply a minimum of 50,000 trial downloads per month
• Increase the number of customer enquiries from the EU by 10,000 per month
• Recruit five distribution agents in the four target countries within 12 months

Business Objective: Build Competitive Advantage

Supporting marketing objectives might be:

Reduce average distribution costs to less than 5% of gross revenue

Reduce the order lead time by 15%

Improve brand recognition amongst the 25-34 age group