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All 20 Flashcards — Marketing objectives and strategies
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Question
What are marketing objectives?
Answer
Specific, measurable goals a business sets for its marketing activities — clear targets to aim for.
💡 Hint
Specific + measurable goals
Question
What is a marketing strategy?
Answer
A long-term plan for how a business will achieve its marketing objectives.
💡 Hint
Long-term plan
Question
Objectives = WHAT. Strategies = HOW. Tactics = ?
Answer
Tactics = the specific ACTIONS taken (e.g. run social media ads in France).
💡 Hint
Specific actions
Question
Marketing objectives are ___, strategies are ___, tactics are ___
Answer
Objectives = what (goals). Strategies = how (plans). Tactics = specific actions.
💡 Hint
What → How → Actions
Question
Give two examples of marketing objectives
Answer
Increase market share by 5% within two years; boost online sales by 20% this year.
💡 Hint
Specific numbers + timeframes
Question
Four key marketing strategies?
Answer
Penetration, development, product development, diversification.
💡 Hint
P-D-P-D
Question
Name the four marketing strategies (Ansoff Matrix)
Answer
Market penetration, market development, product development, diversification.
💡 Hint
Pen-Dev-Prod-Div
Question
Road trip analogy: Objective = get to Paris. Strategy = ?
Answer
Drive through France. Tactics = which roads to take and where to stop.
💡 Hint
Route planning
Question
What is market development?
Answer
Taking existing products to new markets (e.g. new countries or demographics).
💡 Hint
Existing products → new markets
Question
What is market penetration?
Answer
Selling more of existing products to existing customers — lowest risk strategy.
💡 Hint
Existing products + existing customers
Question
Give an example linking objective, strategy and tactic
Answer
Objective: increase share by 10%. Strategy: enter new markets abroad. Tactic: run ads in France.
💡 Hint
10% → abroad → French ads
Question
What makes a BAD marketing objective?
Answer
Vague aims like 'sell more stuff' — objectives must be specific and measurable.
💡 Hint
Must be measurable
Question
Why must marketing objectives be measurable?
Answer
So the business can track progress and know whether the objective has been achieved.
💡 Hint
Track progress
Question
What is diversification and why is it risky?
Answer
New products for new markets — highest risk because both the product and market are unfamiliar.
💡 Hint
New + new = highest risk
Question
What is product development?
Answer
Creating new products for existing customers.
💡 Hint
New products → existing customers
Question
Why is it important not to confuse objectives, strategies and tactics?
Answer
They operate at different levels — objectives guide strategies, strategies guide tactics. Mixing them up loses marks.
💡 Hint
Three levels of planning
Question
Quick: Which strategy has the highest risk?
Answer
Diversification — new products AND new markets.
💡 Hint
Diversification
Question
Which comes first: strategy or tactic?
Answer
Strategy — it's the overall plan. Tactics are the specific actions that carry out the strategy.
💡 Hint
Strategy before tactics
Question
Name two long-term benefits of good marketing strategies
Answer
Sustained brand awareness, improved reputation, long-term sales growth, competitive advantage hard to copy.
💡 Hint
Lasting reputation + steady growth
Question
Name two more examples of marketing objectives
Answer
Grow brand awareness among 18-25 year olds; improve customer retention rates.
💡 Hint
Awareness + retention
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Topic 4.2 hub
Marketing planning
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