Definition of Marketing Objectives, Goals, Strategies and Tactics

In some cases there may be specific business quarters to achieve objectives and goals, such as increase sales X% in Q1 or launch one new product per business quarter.Marketing Plan Strategies and Tactics Defined

The strategies and tactics of a marketing plan are the direct plans and actions taken to achieve marketing objectives and goals.

A marketing strategy is defined as your game plan to achieve your objectives. Typically a goal is a measurable result that is achieved through marketing objectives. Bennett

Examples of marketing objectives for a business may include:

Become an industry leader in the XYZ marketImprove relationships with retail channelsOffer new products that demonstrate market innovationExpand monthly subscriber programA marketing goal is defined as a desired result or specific achievement. But marketers must first have a clear understanding of the difference between marketing goals, strategies and tactics to build a proper plan.

The 4 Ps of marketing include:

Product your product(s) or servicesPrice what you will charge for products or services and how you will chargePromotion how you will promote your products and services to customersPlace (or distribution) how you will make your products or services available to customersEach of the 4 Ps of marketing includes a strategy. Examples of marketing strategies include:Launch a product that solves customers XYZ problemPromote product through local online advertisingPricing discounts for long-term customers or subscriber programsMake products available through well-branded affiliate programsTactics are defined as specific actions that will be taken in support of the marketing strategies. They may even be comprised of several different goals. Objectives are typically qualitative and are supported by more measurable qualitative goals.. Marketing objectives and goals are very much interrelated but should have parts within a marketing plan. There are clear definitions of each marketing term and how they should be utilized in a marketing plan.

Definition of Marketing Objectives and Goals

The objectives and goals of a marketing plan should be closely aligned with the goals and objectives of a business. Because goals are quantitative, a business can always clearly answer whether or not a marketing goal was met with a simple yes or no.

Examples of marketing goals for a business may include:

Increase sales revenue by 20%Improve customer loyalty and retention by 10%Launch three new product linesAcquire 10,000 new monthly subscribersGain 5% market shareMarketing objectives should have a clearly stated timeframe for completion. Objectives are actually broader in scope than goals. An annual marketing plan for a new year should establish desired achievements for the year. Marketing terminology is not interchangeable. Strategies can be simply aligned to broader categories in a marketing plan, or they can be more formally aligned with the 4 Ps of marketing in an overall marketing plan.

A marketing objective is a mission or purpose in which all marketing plans will be based upon. Well established objectives and goals will form the foundation of full marketing plan strategies and tactics.

Defining Marketing Action Plan with TacticsA good marketing plan must clearly state the desired business goals and objectives and how marketing will support them. Tactics are closed related to implementation steps and should include details on timing and budget allocation.

Examples of tactics for business marketing plans include:

Run banner ads monthly on XYZ websiteSend 10,000 direct mail pieces to existing customers in MarchCreate a monthly email newsletter to promote new products to customersSet up a LinkedIn group as a social media public relations channelLaunch a telemarketing campaign in September to acquire 1,000 new customersEstablishing a marketing plan that starts with well defined marketing objectives, goals, strategies and tactics will keep a business focused on achieving results within a desired framework.

Source: Marketing, by Peter D

Posted November 17th, 2015 in Uncategorized.

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