In a Business Plan of a big and medium size organization, a Marketing plan is normally form the main component of the content in it. To a a great extend, the goal of the Business Plan are determined mainly by the Marketing Plan. It is true because a Marketing Plan deal the revenue generation for the business. The other components are the Financial plan, Product Development plan and other operational plans.
In a Marketing Plan, a marketing objective one of the key components. It highlight the the purpose of a business at a macro level and expressed in a form of Marketing direction and goal.
For a Marketing direction, it spell out the long term intention of the marketing for certain desired intention. It is a statement of intend that represents the highest stated of achievement for a business. Example of some common marketing objectives derived from excellence organizations are:-
- Brand Reputation
- Market Position
- Market Share
You can notice that the three marketing directions are very high level results of an organization and to achieve them requires the effort of the entire organization. In order to realize these directions, a form of measures are attached to to reflect either a direct result or a representative of it. This measures is known as the Marketing Goal
This is a tangible measure to the effect of the three directions expressly the most appropriate indicator. It is from this goal that strategies and key activities are developed to fulfill these goals. Therefore, it is utmost important that the goal established are directly reflective the intention of each directions. Example of the Goal may be as follows:-
- For Brand Reputation – the goal is to attain certain percentage in terms of Brand Preference among the competitors.
- For Market Position – the goal is to achieve top 1 position in the market segment in terms the highest ranked sales turnover
- For Market Share – the goal is to capture x percentage of sale turnover in the market segment such as 60%
Once a marketing objective is clearly articulated, then only can be roll down to the respective department for implementation. Read full illustration of a Marketing Plan here