The marketing objectives of the company have been subdivided into two heading which are sales objectives and communication objectives. The sales objectives include the achievement of the planned number of cases which is 650 per month and this is to be done via three ways (Objectives):
- Increasing market share by a certain percentage
- Increase personal loans in the first quarter by 12%
- Lending 50 Employee Loan Scheme and 21 Golden Key customers per month.
The communication objectives include the following:
- To increase customer awareness
- To reap benefits from the competitive advantage of the company
- To enhance the corporate image
- To maintain customer relations and also retain customers
- The company has separate marketing techniques to sell different products. Their personal products are sold during Jan, Feb and Mar due to low sales otherwise. They aim to acquire their existing customers via SMS, direct mail and outbound calls and they aim to acquire their new customers via cross selling with the insurance department of the company. They advertise via direct mail and magazines. The Car Loans sell during April, May and June and these are advertised via media channels like car magazines, magazines otherwise, outdoor advertisements and mall stickers. They have to run a campaign for this product separately. Mortgage loan and Hire Purchase sells during July-December which shows their hands are full all year round. The major reason to market products at separate times is also to avoid confusion between the campaigns since each product has a separate campaign. This product is advertised via articles, press releases, newspapers, magazines and also exhibitions to educate and create awareness amongst customers (Financial).
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