Twenty One Vodka
Objectives
"Profits can be improved by increasing sales or reducing costs. Sales can be increased by improving the company’s share of domestic and international markets." (Page 42, Marketing: An Introduction, Armstrong/Kolter)
The main objective of any company is to make money. That is the obvious part. But in order to obtain profits the objectives of the overall goal of the company must first be set.
"Having an objective is useful because it helps everyone know what the goal is what to aim for." (http://www.bbc.co.uk/schools/gcsebitesize/business/aims/partnershiprev1.shtml)
Rather than looking at the "objective" it might be easier to just call it a "goal". Everyone knows what a goal is and everyone knows that you shoot for the goal. So just what is the goal of Twenty One Vodka?
The goal (other than to make money) is to build a dedicated base of customers who understand why they should always be purchasing Twenty One Vodka. The ultimate goal is to have any given customer walk into a store and immediately, without any hesitation at all, look for Twenty One Vodka as their first, and only, choice. This isn't something that can be achieved over night (although with today's social networking it actually could happen over night).
So in the case of Twenty One Vodka the objective or goal is to gain a loyal customer base that will continue to buy for years to come.
FROM TEXTBOOK:
Setting Company Objectives and Goals
The company needs to turn its mission into detailed supporting objectives for each level of management. Each manager should have objectives and be responsible for reaching them. For example, Kohler makes and markets familiar kitchen and bathroom fixtures—everything from bathtubs and toilets to kitchen sinks. But Kohler also offers a breadth of other products and services, including furniture, tile and stone, and even small engines and backup power systems. It also owns resorts and spas in the United States and Scotland. Kohler ties this diverse product portfolio together under the mission of “contributing to a higher level of gracious living for those who are touched by our products and services.”
The main objective of any company is to make money. That is the obvious part. But in order to obtain profits the objectives of the overall goal of the company must first be set.
"Having an objective is useful because it helps everyone know what the goal is what to aim for." (http://www.bbc.co.uk/schools/gcsebitesize/business/aims/partnershiprev1.shtml)
Rather than looking at the "objective" it might be easier to just call it a "goal". Everyone knows what a goal is and everyone knows that you shoot for the goal. So just what is the goal of Twenty One Vodka?
The goal (other than to make money) is to build a dedicated base of customers who understand why they should always be purchasing Twenty One Vodka. The ultimate goal is to have any given customer walk into a store and immediately, without any hesitation at all, look for Twenty One Vodka as their first, and only, choice. This isn't something that can be achieved over night (although with today's social networking it actually could happen over night).
So in the case of Twenty One Vodka the objective or goal is to gain a loyal customer base that will continue to buy for years to come.
FROM TEXTBOOK:
Setting Company Objectives and Goals
The company needs to turn its mission into detailed supporting objectives for each level of management. Each manager should have objectives and be responsible for reaching them. For example, Kohler makes and markets familiar kitchen and bathroom fixtures—everything from bathtubs and toilets to kitchen sinks. But Kohler also offers a breadth of other products and services, including furniture, tile and stone, and even small engines and backup power systems. It also owns resorts and spas in the United States and Scotland. Kohler ties this diverse product portfolio together under the mission of “contributing to a higher level of gracious living for those who are touched by our products and services.”
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