Many people want to know what their end goal is before starting a project, or creating a new product. With this in mind, companies need to create their marketing objectives to ensure they are on track and have specific goals in mind. The idea is for them to not just provide a general overview, the goals should be specific. Many companies will create SMART goals.
Smart Goals are:
Specific
Measurable
Attainable
Relevant
Timely
The goal of creating marketing objectives is to help instruct and set targets. Once marketing objectives have been determined, a company can then figure out what steps need to be taken to reach these goals. Without setting these objectives, there may not be a clear direction on what steps need to be taken. Another important aspect is in setting KPI’s (Key Performance Indicators), which gauges how effectively a business is achieving objectives. This allows them to determine if there need to be shifts or changes to help reach these goals as well.
Some examples of great marketing objectives may include, increasing brand awareness, increasing website traffic, increasing in store visitors, and increasing overall profit. When creating your marketing campaign and implementing marketing activities, it is important to be mindful that it aligns with the mission, objectives, and goals of the company. Does the marketing represent the company culture, and current branding? While a product may be new, it still needs to tie into the company’s current branding.
When looking at legal and ethical standards in marketing, there are a few things to be aware of as well. The American Marketing Association has set their codes of ethics that companies should keep in mind in their marketing process.
This includes:
- Strive to be truthful in all situations and at all times.
- Offer products of value that do what we claim in our communications.
- Stand behind our products if they fail to deliver their claimed benefits.
- Honor our explicit and implicit commitments and promises.
As a marketer, you should always be looking to serve the needs of your customers, as well as foster trust (ama.org, 2020). Legally speaking, the FTC also plays a role in the ethic of marketing as well. When you go onto the Federal Trade Commissions website, the first mention is of advertising and marketing basics. They mention, “Under the law, claims in advertisements must be truthful, cannot be deceptive or unfair, and must be evidence-based. For some specialized products or services, additional rules may apply” (FTC.org, 2020).
References:
Advertising and marketing. (2020). Retrieved from https://www.ftc.gov/tips-advice/business-center/advertising-and-marketing
Codes of Conduct: AMA statement of ethics. (n.d.). Retrieved from https://www.ama.org/codes-of-conduct/
Smith, B. (2020, June 15). Everything you need to know about marketing objectives. Retrieved from https://www.wordstream.com/blog/ws/2020/06/15/marketing-objectives
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