Objectives are marketing targets which must be achieved so a company can meet its overall goals and are important for a business so that it knows where it is going for the future. Objectives need to be revised regularly and given a specific time scale. It is important that they are specific and measurable so that the company knows that it has met the objective. Objectives need to be achievable and realistic and also it must be remembered that they are no guarantee of success. It is important that objectives are communicated clearly to all the staff of a company and that the staff believe the objectives are realistic - if the staff do not believe in the objectives, they will not even try to achieve them. Unfortunately, not all objectives are achieved due to constraints which include internal constraints such as finance and external constraints that are beyond the company's control such as competition, fashion and the state of the economy.
Most firms see growth as their main objective - to increase market share so that one day they may be the market leader. But, other popular objectives include increasing product differentiation, continuity and innovation.
Objectives in proactive marketing include developing a new product, entering a new market, increasing sales and establishing greater market share.
An objective in reactive marketing is simply to manage and react to the effects of change and competition.
A company's vision is its overall aim for the future; objectives can help a company to achieve its vision.
