Marketing Aims & Objectives

Aims
1. What a business wants to achieve.
2. Regular business aims include: Survival; make a profit; ethicalities etc.
3. In a niche market, aims may include: providing an individual service; survive etc.
4. In a mass market, aims may include: Maximize profits; take out a competitor; improve ethicalities etc.
Objectives
1. How a business achieves its aims.
2. Regular business objectives include: Adding solar panels; lowering overheads; advertise on TV etc.
3. In a niche market, objectives may include: selling a certain brand of clothing; selling to the youth market.
4. In a mass market, objectives may include: keeping a distnictive logo, lowering overheads, etc.
External Factors
1. Customer Behaviour
2. Competitor Behaviour
3. The Economy
4. Technology
5. Government
6. Changes in the Law
7. Suppliers
Internal Factors
1. Market Research Findings
2. Forecasted Sales
3. Forecasted Profits
4. Availability of Finance
Advantages of a Mass Market
1. Able to benefit from economies of scale.
2. Less risky, since busines is not dependent upon one small segment of the market.
3. Sales revenues are usually higher.
Disadvantages of a Mass Market
1. Increased competition.
2. Difficult to appeal to individual consumers.
3. Fixed capital costs are usually high - due to the need for large factories and expensive machinery.
Advantages of a Mass Market

Resource summary

	Created by theLADhimself over 11 years ago