Table of Contents INTRODUCTION..........................................................................................................................3 Introduction to marketing objectives..........................................................................................3 Importance of marketing objective for organisation...................................................................3 Develop Marketing Objective.....................................................................................................3 CONCLUSION...............................................................................................................................7 REFERENCES...............................................................................................................................8
INTRODUCTION Haigh's Chocolates is an Australia's family owned bean-to-bar chocolate manufacturing company which is headquartered in Adelaide, Australia. This organisation was founded in 1915 by the Alfred E. and they also have their own retail stores in Melbourne, Sydney and Adelaide. They have around 17 location in both the countries and 500 plus employee working for them. This company also use to sell their chocolate's products using offline and online modes. Currently. Haigh's has decided to expand their business using Joint venture technique. For this, they are required to do analysis of their marketing objectives. Introduction to marketing objectives It is termed as the marketing strategy which is set in order to achieve the overall organisational objectives and targets. Marketing objectives is important to increase product awareness, enhancing brand image, providing information and lowering the consumer resistance. Such objectives can be classify on the basis of SMART objectives which comprises ofSpecific, Measurable,Achievable,Realistic andTime specific (Veríssimo, 2014). Specific example of marketing objectives such as: “increase the market share by 20 percent” within one year. It is required that objectives should be specific and in order to understand completely. Importance of marketing objective for organisation In context with Haigh's chocolates, marketing objectives will help this company to create its brand and product image & reputation in all over the Australian market. Such marketing objectives would help Haigh's chocolates to accelerate their market access and product range to the different region and zones of entire Australia (Westwood, 2013). If marketing objectives would have been initiated properly and appropriately, it would enables the customer's to create positive and strong perception about the brand and positive of the Haigh's chocolate. The major importance is to enhance the market and brand attractiveness in the mind and attitude of the customer. Develop Marketing Objective Strategic Marketing Objectives Objectives 1 The first marketing objectives is to establish the brand image and physical existence into the domestic and global level.For this, Joint venture is the best and suitable approach for attaining
such objectives. Establishing the brand on the global level is the most crucial and critical task as part of the company strategic objectives and goals (Wilson, 2016). Also, the major strategic objectives is to provide different types and flavour of chocolate in other different region of Australia and its zones. It will be possible with the help of strategic goals and target settings. 1. Compatibility This marketing objective is very much compatible and realistic to implement and align it to the strategic direction and well-defined objectives to expand their business into the both domestic and global level. If brand image and customer response is positive and favourable, it would be easy and convenient for Haigh's chocolate to make their marketing objectives highly compatible and measurable. 2. Consistent This marketing objective has consistency in enhancing and establishing the market share and product reach of Haigh's chocolate into the different markets such as domestic and global level. If company wants to raise its brand image, they needs to promote their product along with the brand strong position to the customer along with improvement in the negative points to the product and customer perception level. 3. Equipped Haigh's chocolate needs to analyse the actual potential, availability of the resources and funds required to achieve well-defined market objectives of expanding the brand image and physical existence into the both domestic and international level. If Haigh's chocolate wants to project their marketing objective in accordance with availability of varied resources and funds require, they needs to strategies their objectives as per the vision and mission of the company. 4. legal
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Yes, this marketing objective is fulfilling both ethical and legal of the Haigh's business. The attainmentofsuchobjectivesneedseffectiveandwell-skilledmanpowerwithadequate knowledge and information on what and how strategies and plans to be initiated and regulated for market expansion. The Archive Act, 1983 is the pro-founded legislation and law for conducting legal and ethical regulation in the Haigh's chocolates. Objectives 2 The second objective is to operate the business and product mixing into the area where rivalries are operating their business. Joint venture is the suitable option to engage the operation of the Haigh's chocolate's into the area in which Cocoa delights is serving the customers. This is one of the critical and strategic objective to be achieved, because, if customer is already purchasing some other business product, it is a challenging task to create brand positive and interactive image in the mind of these customer's. Such marketing objective will be possible by doing strong and high involvement advertisement, promotion and other motivating activities (McDonald, 2017). 1. Compatibility This marketing objective is very much compatible and relevant to achieve strategic objectives and action of the Haigh's chocolate. Why it is compatible. In Australia, media and advertising is cheap and relatively less costly. Hence, it would be easy and convenient for Haigh's chocolate to promote and advertise their products and brand image among the new customer base. 2. Consistent This marketing objectives is very much consistent with the current and future trend of the chocolate industry. This objective is necessary and crucial to enables maximum customer involvement and engagement to the Haigh's chocolate product. 3. Equipped This marketing objective is suitable to implement in the area where Cocoa delights is operating. In Australia, where advertising media is cheap and less costly. It is easy and convenient to attract different customer through hiring effective manpower, promotion and advertisement and
allocation of the funds into the customer engagement activities. 4. Legal Yes, this marketing objective has proven as legal and ethical to engage more and more customer involvement of the Cocoa Delights. Media regulation act, 1972 is the best suitable and qualify to enhance maximum legal and ethical regulation in the Haigh's chocolate. Objectives 3 The third objective is to build maximum brand awareness and image of the Haigh's Chocolate in the competitive market.This can be possible with proper and effective advertising and promotion of the brand. Awareness can be generate by making realize the customer about the positive and advantage of the products. In context with Haigh's chocolate, differentiation of thechocolateproductfromotherbrandssuchasCocoadelightsandthatshouldbe communicate well to the customer. 1. Compatibility This marketing objective for Haigh's chocolate is compatible and achievable to enhance more and more brand awareness and image of this chocolate company to their customer and also gain competitive advantage in the market. This objective will definitely fit in growing and expansion stage of the Haigh's chocolate. 2. Consistent There is a possible outcomes for this chocolate brand to enhance its consistency and regularity in their maximum customer engagement. The consistency for achieving defined objective would be arrived from high customer communication and motivation. This objective is suitable from using the advertisement media effectively. Also, this marketing objective is composed of potential to work along with the chang9ing scenario of the chocolate industry and market. 3. Equipped Such marketing objectives needs financial support, effective manpower, potential power and
resources such as strategies and forecasting which segment of the customer needs to be targeted in the different location of the Australia as well as global stage. Haigh's chocolate required to use innovation and creativity to reduce and bringing down the price of their chocolate. CONCLUSION From the above assessment, it is concluded that marketing objectives for whatsoever would be the reason whether product development, market expansion and brand awareness to do be implement and formulate into the proper and effective manner. Company needs to implement and formulate objectives and targets in accordance with future requirement and objectives of an organisation.
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