The following are the most significant objectives of marketing and are:
1) Creation of Demand
The objective of marketing is to create demand through various means. A conscious attempt is made to find out the preferences and tastes of the consumers. Goods and services are produced to satisfy the needs of the customers. Demand is also created by informing the customers the utility of various goods and services.
2) Customer Satisfaction
The marketing manager must study the demands of customers before offering them any goods or services. Selling the goods or services is not as important as the satisfaction of the customers’ needs. Modern marketing is customer-oriented. It begins and ends with the customer.
Market Share
Every company strives to increase its market share. For example, Pepsi and CocaCola compete to increase their market share. To do this, they have introduced innovative advertising, innovative packaging, sales promotions, etc.
4) Generation of Profits
The marketing department is the only department that generates revenue for the company. It is necessary to earn sufficient profit by selling products that satisfy desire. If the company does not earn profits, it will not be able to survive on the market. In addition, benefits for the growth and diversification of the Company are required.
5) Creation of Goodwill and Public Image
Building the public image of a business in a period is another marketing goal. The Marketing Department provides quality products to customers at reasonable prices and therefore creates its impact on customers.
6) Apply effective and intelligent modern marketing policies
The changing growth rate, rapid technological change, and aggressive new competitors have forced every marketing company to adapt and respond to change in order to survive and thrive. Therefore, it is necessary for companies to analyze their expenses and obtain maximum profits by adopting viable and appropriate solutions.
Erzsebet Frey (Eli Frey) is an ecologist and online entrepreneur with a Master of Science in Ecology from the University of Belgrade. Originally from Serbia, she has lived in Sri Lanka since 2017. Eli has worked internationally in countries like Oman, Brazil, Germany, and Sri Lanka. In 2018, she expanded into SEO and blogging, completing courses from UC Davis and Edinburgh. Besides Litepreneur, Eli has founded multiple websites focused on biology, ecology, environmental science, sustainable and simple living, and outdoor activities. She enjoys creating nature and simple living videos on YouTube and participates in speleology, diving, and hiking.