Business – 3.1 The nature of marketing – Role of marketing | e-Consult
3.1 The nature of marketing – Role of marketing (1 questions)
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To support the corporate aim of a 5 % market‑share increase, the marketing department could adopt the following objectives:
- Objective A: Launch two new product variants in the next 12 months and achieve a combined sales volume representing at least 2 % of the total market.
- Justification: New variants attract previously untapped customer segments, directly expanding the company’s share of the market.
- Objective B: Increase the average purchase frequency of existing customers by 15 % through a loyalty programme within 24 months.
- Justification: Higher purchase frequency raises total sales without necessarily expanding the customer base, contributing to a larger share of total market sales.
Both objectives are measurable, time‑bound and directly linked to gaining a larger proportion of the market’s total sales, thereby supporting the corporate market‑share target.