What are the goals or objectives of marketing?
The marketing goals are a part of the company’s overall objectives. Peter F. Drucker views that the purpose of a business is to create customer. Marketing is the basic and important function in a business entity which, through on analysis of internal and external environments, guides the company to achieve marketing objectives as well as the company objectives.
In trying to meet the customer needs and providing satisfaction a customer seeks, a business firm has to make sane fundamental decisions. Broadly speaking, these decisions relate to product, place, proration and price. The goals of a marketing function are identified with these decisions having been properly put to actions.
Again, the profits and profitability of a company depend on the satisfactory volume of sales consistent with the margin on the products and services and with the consumer satisfaction. So, the primary objective of a marketing function is to retain the existing customers and to reach new customers. This is possible only when a perfect co-ordination is maintained between the needs of the customers and their satisfaction.
To sum up, the goals of a marketing function are:
(1) To increase the volume of sales by means of product policy, price policy, marketing channels policy, distribution policy, etc.;
(2) To increase the net profits of the company by an appropriate blend of the policies and strategies as against the parameters listed at (1);
(3) To ensure growth of the enterprise by portraying the product image and corporate image before the public and the consumers; and
(4) To develop social consciousness through highest standard of quality of goods and services and provision of such goods which are socially desirable.
The goals or objectives of marketing can be condensed in a chart below:
