Analyse two reasons why there should be a close link between the marketing objectives of abusiness and its corporate objectives

Alignment of Goals: One of the main reasons why there should be a close link between the marketing objectives and corporate objectives of a business is to ensure alignment of goals. Corporate objectives define the overall goals and direction of the company. These objectives could be related to growth, profitability, market share, etc. On the other hand, marketing objectives are specific goals within the marketing function, such as increasing brand awareness, boosting product sales, or expanding into new markets. If the marketing objectives are not aligned with the corporate objectives, the company could end up pulling in different directions, leading to inefficiencies and potential conflicts. For example, if the corporate objective is to increase profitability, but the marketing objective is to increase sales without considering the cost, this could lead to a decrease in overall profitability.

Resource Allocation: Another reason for the close link is related to resource allocation. The corporate objectives of a business often determine where and how resources are allocated. If the marketing objectives are closely linked to these corporate objectives, it ensures that the marketing activities are funded appropriately and are focused on areas that will help achieve the corporate objectives. For instance, if a corporate objective is to expand into new markets, the marketing objectives would likely include activities related to market research, promotional campaigns, and distribution in these new markets. By linking these objectives, the company can ensure that the necessary resources are allocated to these marketing activities.