Marketing Goals

Marketing Goals

Marketing is an aspect that plays a vital role in enhancing business success. The statement implies that firms incur more resources into advertisements. As a result, an awareness that if they join with the right companies or link with suitable individuals, there will be better business outcomes. Besides, marketing goals are tailored to the needs of consumers since they are sources of profits and sales. The formulation of marketing goals, therefore, is necessary to ensure that Mobile Manufacturing Inc. (MM) does not encounter hardships in the newly anticipated project. The company will formulate goals relating to customer satisfaction, sales in units, and profits to drive the business forward. Despite easier communication in the domestic market, it subjects a company to maximum cyclical effects.

The first goal of the marketing project will relate to enhancing customer satisfaction through face to face events. Concerning this goal, MM will be required to come up with live consumer events within the premises of the company (Rinallo, 2019). During such events, the firm should collect what customers love through a live stage. This step should be followed by educational presentations to benefit both customers and the employees of MM Company. Generally, face to face events will be an opportunity of listening to consumers and obtaining a direct response to the new brand and service to adopt suitable practices to satisfy their needs.

Secondly, the company should use brand advocates to ensure that there will be sales in dollars or units. According to this statement, MM Company will be required to allocate more finances to pay online influencers and train brand representatives to ensure that new products will reach the international market place (Andrews & Shimp, 2017). Online influencers, such as celebrities, video creators, and bloggers, will ensure that the new product is sold out of the country since they will use their impact on social media to attract potential foreign consumers. Also, the organization will need to train representatives to represent the company in international workshops to increase its awareness in foreign markets.

Additionally, for the maximum achievement of profits for the new product, MM organization will carry out a benchmarking on a similar company within the region. During this process, the marketing team should write down important information, such as total revenue, number of consumers, and sales win ratio. Using total revenue, MM Company will realize profits by reviewing the projected revenue for the year, along with deciding those that will be released in a specific timeframe. Besides, the past sales of the benchmarked firm will be used to come up with the desired sales prospects that have a higher profit.

Moreover, operating within the domestic marketplace is advantageous due to secure communication. In the domestic market, the workers are from a similar culture and communicate a fluent language within their understanding, compared to the international environment (De Mooij, 2019).  This claim emanates from the perception that MM will require a lot of effort and time to maintain effective communication in different countries. Besides, the domestic market allows allowing easier installation of communication mechanisms due to a requirement of fewer resources, thus allowing easier communication among work personnel.

Finally, a company may suffer enormous consequences from cyclical changes in the domestic market. Projecting cynical changes while in the international environment ensures faster avoidance of accompanied risks in domestic markets (De Mooij, 2019). This claim implies that in global markets, Mobile Manufacturing Inc. will get time to prepare and make use of economic upswings to remain stable during downturns. Generally, the international market is suitable since it ensures a company avoids maximum subjection to the effects of cyclical changes in the domestic country.

In conclusion, marketing goals is vital since it gives direction to the company concerning the sale of products to consumers. Using the case study of MM, the company should come up with suitable marketing goals for the business. The first goal should be tailored towards customer satisfaction. Also, goals related to sales in dollars or units and profits are appropriate for this firm. Besides, operating in the domestic market will promote easier communication. However, the firm will face maximum adverse effects during various changes in the domestic market.

References

Andrews, J. C., & Shimp, T. A. (2017). Advertising, promotion, and other aspects of          integrated marketing communications. Nelson Education.

De Mooij, M. (2019). Consumer behavior and culture: Consequences for global marketing and     advertising. SAGE Publications Limited.

Rinallo, D. (2019). Event marketing. EGEA spa.