The Executive Suite: The Goal of Marketing & How Companies Achieve it

Thursday, November 28, 2013

The Goal of Marketing & How Companies Achieve it

The goal of marketing is to meet the wants and needs of consumers more efficiently and effectively than the competition. How to exactly do that is different for each company, but no matter what type of business you're in, your marketing plan determines the goals that your company wants to reach. To achieve marketing goals, your marketing plan must provide specifics as to what needs to be done.

Review your marketing plan and do something every day that moves your company closer to achieving the marketing goals. Keep a daily log of activities you did that day that contributes to fulfilling these objectives, in addition to noting items that need to be done.

Somewhere in your marketing plan, a SWOT analysis should have been done to determine internal strengths and weaknesses and external opportunities and threats. Staying on top of trends will expose new industry directions and possible competitive advantages the company may gain, in addition to instances where improvements can be made.

Detailed

Make sure your objectives are specific and detailed. "Placing ads" is not a specific enough marketing objective because it does not define what type of media. "Placing an ad on a local TV station that describes our upcoming sale" provides a concrete definition of what needs to be accomplished.

Put a date range next to each task: The date you'd like to have it completed, and the date it was actually completed. Associating time frames to objectives will help keep your company on track to reach their marketing goals.

When it comes to marketing budgets, you have to be realistic and set measurable financial goals that the company can actually reach. Decide if you can "afford" the goal when setting budgetary limits. Buying advertising is expensive. Companies should not rely on potential customer increases from advertising to pay for the advertisement.