Do we know how to set marketing objectives

Before defining any marketing strategy, we must clearly consider what we want to achieve. We must first know where we want to go, and then choose the right path. The necessary tool to clarify, where we want to go, are the objectives and for its correct establishment and fixation, it will be necessary to comply with the following conditions:

We must formulate them in writing , we will avoid problems and misinterpretations.

Study and know perfectly the market , the situation of our company and its competitiveness. In this way we can correctly define the objectives to be met.

We have to be realistic and not set unattainable goals , since if we set goals that are not going to be met, we will obtain the opposite effect and discourage the team involved in achieving them. This does not mean that there should not be a difficulty in achieving them, but rather that their establishment and fixation should always pose a challenge.

The objectives have to be concrete . Many of today’s companies define their objectives, with a: “increase turnover by 10% . ” This definition of objectives is incomplete, since we will have to specify, for each business unit, product or service, even if necessary by geographic area.

There must be coherence between the short, medium and long-term objectives . Logically, short-term objectives are the way to reach the desired situation in the long term.

It is necessary to obtain a commitment and acceptance from the entire team involved. The degree of commitment to the objectives is one of the main keys to achieving them.

The objectives will have to have control elements . In addition to evaluating and controlling, it will allow us to correct possible deviations that could hinder the correct fulfillment of objectives.

Finally comment that in addition to establishing the objectives in a quantitative way, there are a series of objectives, which we must formulate qualitatively. For example, those objectives, which cannot be quantified or are more generic or less tangible, such as, notoriety or product or brand image objectives. In addition, we must also establish in a qualitative way, those objectives, which measure their quantification, suppose a high cost for the company.

 

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