Principles of Marketing

How to Write a Marketing Plan

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Part 3: Marketing Strategy and Objectives

3. Marketing Objectives
Marketing success can be measured on several non-financial market metrics. These measure are important since these often shed light on underlying conditions and circumstances facing the company that are not easily seen within financial measures. For instance, a company may report strong sales for a product but market share information may suggest the product is losing ground to competitors. The marketing objectives section will indicate targets to be achieved across several marketing decision areas. To add additional strength to this section include marketing metrics where possible. (Page length: less than 1 page)

Target market objectives
- market share
  - total
  - by segments
  - by channel
- customers
  - total
  - number/percentage new
  - number/percentage retained
- purchases
  - rate of purchases
  - size/volume of purchases
Promotional objectives
- level of brand/company awareness
- traffic building
  - (e.g., store traffic, website traffic)
- product trials
  - (e.g. sales promotions, product demonstrations)
- sales force
  - (e.g. cycle time, cost per call, closing rate, customer visits, etc.)
Channel objectives
- dealers
  - total
  - number/percentage new
  - number/percentage retained
- order processing and delivery
  - on-time rate
  - shrinkage rate
  - correct order rate
Market research objectives
- studies initiated
- studies completed
R&D objectives
- product development
Other objectives
- partnerships developed

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