Lesson 1.

2
Goals in Marketing

CHERRY- ANN A. GUAVIS

Teacher II

Principles of Marketing
Accountancy, Business, and Management

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What are your
goals for your
future?

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What actions do
you need to
take to achieve
them?

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Goals are sources of vision,
direction, and clarity.

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Setting goals is important
for individuals and
business organizations.

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Quick Look

What’s Your Goal?

Goals are practical. They direct attention to desired outcomes. They
give purpose to every action and decision. For business
organizations, goals and objectives are the foundations of success.
They allow companies to determine short-term and long-term
targets. Meanwhile, objectives are organized periodic milestones
toward achieving the set goals. Specific, measurable, and relevant
objectives effectively monitor and analyze a company’s performance.

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Quick Look

Questions to Ponder
1. What vital functions fo goals and objectives provide to organizations?
2. What do you think would happen if a business organization does not
have well-organized goals and specific objectives?
3. Suppose you are part of an organization. Why would it be important for
you to learn its goals and objectives?

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Learning Competency

Discuss the goals of marketing (ABM_PM11-Ia-b-3).

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Learning Objectives

In this lesson, you should be able to do the following:

● Identify the components of marketing goals and objectives.

● Plan marketing goals, objectives, and key performance
indicators.
● Discuss the importance of establishing marketing goals.

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What is the benefit of transforming
overall goals into attainable
objectives?

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Developing Marketing Goals

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 Developing Marketing Goals

● Establishing goals and objectives is the beginning of a

successful marketing plan.
● A marketing plan starts with

○ a mission statement,
○ a vision statement,
○ goals and objectives, and
○ key performance indicators (KPIs).

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 Developing Marketing Goals

Mission Statements
● explain a company’s purpose and primary goals
● clear, meaningful, and inspiring
● impactful and written in the present tense

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Examples of mission statements

● "To motivate and encourage

every athlete in the world."
● "We aim to be the most
customer-focused
organization on the planet."
● "By winning with a purpose,
we strive to become the
global leader in handy meals
and beverages."

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Creating a mission statement

Develop a unique
Develop a clear
selling proposition
statement that conveys
(USP) to establish the
the company's
company's "winning
purpose, outcomes,
idea" against its
and metrics.
competitors.

Clarify the company's

goals and make a list
of the most critical
success indicators.

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 The Mission Statement of a Farm-Product Firm

The firm’s winning idea is "to deliver farm freshness." Its

success criteria are product quality and customer satisfaction.
Thus, its mission statement is the following:

"To be the best produce shop in Main Town by

supplying the highest-quality, freshest agricultural
items straight from the farm to have happy customers."

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 Developing Marketing Goals

Vision Statement

● expresses what the business aspires to become

● a future that is achieved through the mission statement
● ideal long-term goals
● evergreen

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Examples of vision statements

● "Providing the finest in

cosmetics innovation in terms of
quality, efficacy, and safety to all
women and men globally."
● "We will assist individuals in
living longer, healthier, and
happier lives."
● "Assisting content producers all
around the world in reaching a
worldwide audience."

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Creating a vision statement

Form an inspirational
Determine the statement that
business’s human expresses the
worth or purpose. business’s human
worth.

Determine values that

matter most to the
organization, its
customers, and other
stakeholders.

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 The Vision Statement of a Farm-Product Firm

The firm identified three common values between the

company and its customers: freshness, tastiness, and
"localness" of the food. Its vision statement is the following:

"By bringing the freshest, tastiest, and most nutritious

local products from local farmers to Main Town
families’ tables, we inspire Main Town families to live
happier and healthier lives."

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Check Your Progress

1 Compare and contrast mission and vision statements.

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 Developing Marketing Goals

Core Values
● a collection of guiding principles and essential beliefs
● shapes the company’s mission and supports its visions
● develops purpose, cohesiveness, and dedication in the
workplace

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Goals and Objectives

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Goals Objectives

● a broad aim ● a specific target

● set before the start of ● milestones to achieve the goals
business planning process ● concentrates on specific and
● provides overall vision attainable achievements

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 Goals and Objectives

Goal Objective

general ideas and broader specific statements with limited

aims scope

establishes a general direction determines actions that are more

or vision specific

challenging to measure measurable and manageable

progress
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 Goals and Objectives

Goal Objective

abstract concepts and not attainable milestones associated

necessarily time-bound with a timetable or schedule

a long-term vision short-term or long-term targets

the final product of all the organized to achieve the goals

fulfilled objectives progressively

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Check Your Progress

2 Compare and contrast goals and objectives.

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SMART Marketing Objectives

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Developing SMART Objectives

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 The SMART Objectives of a Farm-Product Firm

The firm aims to expand its business operations in the next five years. Its
SMART objectives are the following:

● To open three additional branches throughout the country—one in

Luzon, one in Visayas, and one in Mindanao
● To increase company revenue by 15% annually
● To increase production capacity by 25% in the Laguna production facility
● To increase staffing by 20% and assign an equal amount of people to
each of the branches

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Key Performance Indicators (KPIs)

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Key Performance Indicators (KPIs)

● quantifiable measures
to track performance
and progress against a
specific objective

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 Key Performance Indicators (KPIs)

Components

measurement: Quantifiable outcome expected

target: Period when to achieve the objective

data source: Means to get the data to be analyzed

reporting
Period when to monitor progress
frequency:

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 A Sample Key Performance Indicator

Objective: To increase sales revenue by 15% for the next three months

Increase website traffic by 1,000 new customers by the end of the

KPI:
month

Measurement: 1000 new customers

Target: By the end of three months

Data source: Insights from company's website

Reporting frequency: Monthly

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 A Sample Key Performance Indicator

Objective: To increase sales revenue by 15% for the next three months

KPI: Increase email subscriptions by 500 new customers every month

Measurement: 500 new customers

Target: By the end of the month

Data source: Insights dashboard from the company's email management system

Reporting frequency: Monthly

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Common Marketing Goals

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Common Marketing Goals

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 Common Marketing Goals

Acquire New Customers

● the process of drawing in new customers or clients
● follows a road map called the buyer’s journey
○ awareness
○ consideration
○ decision

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Common Marketing Goals

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 Common Marketing Goals

Retain Customers
● the activity to increase customer’s loyalty
● membership cards, buyer club rewards, etc.

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 Common Marketing Goals

Upselling Cross-selling

encouraging customers to
persuading customers to
spend more by
buy an upgraded or a more
recommending a product
expensive version of a
related to the one they
product or service
purchased

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 Common Marketing Goals

Increase Customer Satisfaction

● providing positive customer value
● consistently exceed customer expectation
● leads to customer retention and loyalty
● examples:
○ enhanced features
○ better performance

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 Common Marketing Goals

Launch New Products

● coordinated effort to bring a product to the market
● outlines the messaging to effectively convince to adopt the
new product
● examples:
○ social-media campaigns to introduce the product

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 Common Marketing Goals

Improve Product Position

● deciding how the market sees, thinks, or feels about the
product or service compared to the competing ones
● affects all aspects of branding
● affects how people communicate the brand

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 A Technology Company’s Mission and Vision

A multinational technology corporation's corporate mission

and vision statements emphasize innovation for worldwide
social progress through technical goods.
The firm's mission statement suggests authority, quality, and
leadership in its respective industry, while its vision statement
supports an inspiration-focused strategic goal that positions
the firm as a global influence.
By integrating its corporate vision and mission statements, the
tech giant emerged as an industry leader and affected the
global community.
Victoria Martin, “Samsung’s Mission Statement & Vision Statement (An Analysis),” Panmore Institute, March 18, 2019,
http://panmore.com/samsung-corporate-vision-statement-corporate-mission-statement-analysis, last accessed on November 7, 2021. 46
Keep in Mind

● Establishing goals is one of the first steps in developing a good

marketing strategy. It lays down the actions that the company must
take to succeed in the market.
● The inception of a marketing plan includes the creation of a mission
statement, a vision statement, core values, and marketing goals and
objectives, complemented by key performance indicators (KPIs) to
help monitor the business’s progress in achieving the predetermined
goals.

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