InterviewSolution
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Explain any four objectives of Marketing. |
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Answer» Objectives of Marketing: (i) To Increase Sales: One of the most important goals of marketing for-profit entities is driving business and increasing sales. Marketing needs a good return on investment – meaning the increase in sales should significantly exceed the cost of marketing – and should, therefore, be specific. (ii) To Improve Product Awareness: A marketing effort can be focused on reviving or invigorating interest in a product that has been on the market for a long time or about which people have longstanding attitudes. (iii) To Establish in the Industry: A new organization finds it extremely difficult to be heard in a crowded market place, with a public distracted by many stimuli. It has to induce all efforts by means of marketing activities to be heard in the market place. (iv) Brand Management: Maintaining a place in the mind of the public takes work, and some marketing efforts are simply aimed to maintain prominence in the public space. Major organizations known worldwide often run ads that simply use images and tone to remind consumers of the brand, rather than promote a particular product or service. |
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