Looking at my objectives, I will need to focus first on the
product quality and cost of production.
This is strictly a business objective that needs to be meet without
letting the production costs bury the company in debt. The next objective to tackle is the product
price. This objective needs to be met in a way that is relatively in-expensive
to the consumer but is also profitable enough for the company to cover the
overhead of production, distribution, and sales costs, while still gaining net
revenue. “This broad mission leads to a hierarchy
of objectives, including business objectives and marketing objectives.”
(Marketing An Introduction, Gary Armstrong, pg. 43) The last objective I will focus on is
my marketing objective, which is gaining a bigger market share relative to our
company’s competition. “Sales can be increased by improving the company’s share
of domestic and international markets. These goals then become the company’s
current marketing objectives.” (Marketing An Introduction, Gary Armstrong, pg.
43) Each of these three
objectives is the bedrock to the company’s mission statement. In order to meet these objectives we have
find out where we stand as far as competition, current market , in both size
and pricing. Next step is to evaluate
the company’s strengths and weaknesses.
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