Building a Marketing Plan

Chapter 5

Marketing Objectives and Strategy Formulation

Now that we have completed the situation analysis, we’ll develop the marking plan itself. A marketing plan by definition means developing ways and means of achieving the corporate goals through utilization of the available resources and satisfying our target markets.

This chapter discusses setting marketing objectives in the market planning process. The objectives developed for the marketing plan need to be consistent with the business plan, the overall corporate strategic plans, or both. First, this chapter provides an overview of the nature of marketing objectives. Second, it discusses formulating marketing objectives, then introduces the different types of marketing objectives. Finally, ...