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.
Join the tutor2u Business team for a resource-packed day designed to fast-track your lesson planning and preparation for the new Edexcel A Level Business specification. We'll look at the key changes in teaching content, explore the new challenges of teaching this linear specification and dive into some brand new teaching resources designed specifically for the new Edexcel A Level Business course from September 2015.
Fully worked A Grade answers to recent Edexcel GCSE Business Studies Unit 3 exam papers with detailed examiner commentary on how good technique scores top marks
Exemplar A grade worked answers to recent AQA GCSE Business Studies Unit 2 exam papers with examiner commentary on how to score top marks