Question

You are the marketing manager of a new baby products company. Write down marketing objectives that you would set as the manager of the company.

Answer 1

I would set the following marketing objectives as the manager of the company:

1. Creation of Demand: A business firm can sell goods and services only when there are customers willing to buy them. Therefore, the first purpose of marketing is to create demand for goods and services. Then advertising, personal selling, sales promotion and other methods are used to create demand and to persuade customers to buy.
2. Customer Satisfaction: Modern marketing is customer-oriented. Today, all marketing activities begin and end with the customers. The focus is on selling satisfaction rather than on selling a specific product or service.
3. Market Share: Every business firm seeks to have a reasonable share of the total demand. In a competitive market, aggressive selling efforts are necessary to make products and services popular. Good quality goods are offered at reasonable prices to capture a large share of the market.
4. Profitability and Growth: Marketing seeks to achieve long-term goals of profitability and growth by satisfying the wants of customers. In order to survive and grow, a good business must create and satisfy customers. If the customers are not satisfied, the business will fail to earn and survive.
5. Goodwill: Marketing aims at building the reputation of the enterprise over a time. The enterprise attempts to earn a name for itself and build its position in the market by selling quality products at reasonable prices, and through efficient after-sales services.