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Marketing objective - Essay Example

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Marketing Objective Marketing Objective of V Energy Drink Marketing objective is certainly one of the most significant aspects in marketing. It is perhaps the most crucial component of the marketing plan of a particular organization. Any company needs to recognize its marketing objectives properly prior to decide on the marketing strategies…
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Marketing Objective Marketing Objective of V Energy Drink Marketing objective is certainly one of the most significant aspects in marketing. It is perhaps the most crucial component of the marketing plan of a particular organization. Any company needs to recognize its marketing objectives properly prior to decide on the marketing strategies. According to Botha, Brink and Strydom, “a marketing objective is what you want to achieve through your marketing during the time frame” (Botha, Strydom, & Brink, 2005). There must be appropriate alignment between the overall strategic objectives with the marketing objectives. As far as energy drink V is concerned, its marketing objectives are quite clear. The main objective behind all the marketing activities regarding V energy drink is to attract as much consumers as possible. Energy drink is one of the fastest growing consumer products across the world. Over the past few years it has been hugely in demand. It is needless to say that the main consumers of such a drink are young as well as middle aged people. V’s marketing activities are aimed at growing with the industry and increase the customer base significantly within the next financial year. A consistent increase in the size of customer base is likely to ensure the sustainable sales and business growth for the company. Another crucial marketing objective is to enhance the brand equity and take the brand image of V to a new height so that the present dominating position remains intact for a significant period. Over the years branding of ‘V’ has been one of the most important points of focus for Frucor. Several promotional strategies are adopted by the company to differentiate the brand from the rivals. The advertising campaigns that involve an energized fly, a revitalized lizard, cockroaches, beetles have been significantly successful to attract the target consumers. Most importantly, the branding activities are found to be successful in achieving the main objective i.e. strengthening the brand image of V. Marketing objectives of any organization can be measured by using the SMART model. SMART is the abbreviated form of ‘specific, measurable, attainable or achievable, realistic and time’ (Stone, 2001). It is very crucial to have ‘specific’ marketing objectives that are measurable, attainable, time bound and realistic. Keeping these aspects in mind, few marketing objectives can be recommended for V. Frucor’s main objective should be to increase the sales by at least 10% within the next quarter. Furthermore, the company should also aim at enhancing the brand image by 10-15% within the next financial year. References Botha, J. Strydom, J & Brink, A. 2005, Introduction to Marketing, Juta and Company Ltd Stone, P. 2001, Make marketing work for you: boost your profits with proven marketing techniques, How To Books Ltd Read More
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