WorksheetsSetting Marketing Objectives
Total questions: 10
Worksheet time: 6mins
Which of the following are TRUE about marketing objectives?
They are targets set for the marketing department in line with corporate objectives
They should be SMART
They should be set in isolation by the marketing department
They must relate to growth
What is the difference between sales volume and sales value?
Sales volume relates to revenue, sales value relates to units sold
Sales volume relates to units sold, sales value relates to revenue
They are different ways of saying the same thing
Sales volume is a production target and sales value is a marketing target
Businesses may aim to increase MARKET SIZE because...
They need more customers
They are worried about investigations from the Competition and Markets Authority
They are a small player in the market
They are already the market leader and this is how they can increase their own sales
Which of the following is the BEST definition of market share?
The total sales in one market
The percentage of total sales in a market held by one company or brand
The total sales of one firm and how they have increased
The percentage of total sales in a market held by one brand
Which of the following are INTERNAL influences on marketing objectives?
Corporate objectives
Financial position of the business
Development of a new innovative product
All of the above
Which of the following are EXTERNAL influences on marketing objectives?
Changes in fashion or taste
Changes in the economy
Financial constraints
All of the above
What is repositioning?
When a firm aims to change the image of its brand
When a firm changes where the products are sold
When a firm redesigns the packaging of their products
When a firm tries to encourage brand loyalty
How do you calculate percentage change?
(New - Old) / Old)
((Old - New) / New)) x 100
((New - Old) / Old)) x 100
((New + Old) / Old)) x 100
Brady's Builders had sales of £25,000 in 2018 and sales of £30,000 in 2019. What is the percentage change in sales value?
-16.67%
+16.67%
-20%
+20%
The market leader has a 27% market share and makes £225,000 per year. What is the total value of sales in the market?
£833,333.33
£60,750
£6,075,000
£16,425,000
