In other words, marketing audit facilitates the process of determining marketing objectives for the firm. While developing the marketing objectives it must be ensured that they are relevant to the corporate mission and vision. Furthermore objectives should be clearly understood by the firm itself. Moreover it should be closely related to the financial, human resources and infrastructural capabilities of the organisation. Establishing appropriate marketing objectives is the key to the organisation’s overall capability of achieving high level performance. Dibb, Pride, Simkin and Ferrell stated that “a marketing objective is a statement of what is to be accomplished through marketing activities” (Beamish & Ashford, 2005). A properly developed marketing objective should have SMART components, in other words objective should be Specific, Measurable, Attainable, Realistic and Time bound (Beamish & Ashford, 2005). This report describes the marketing objectives that are developed in the context of Air China. The report also includes the recommended strategies for achieving these objectives.
Air China is one of the largest airline operators not only in China or Asia but in the entire world. As far as market capitalization is concerned, Air China is the largest carrier in the world. In its home country the company has almost 23% market share, ranking just behind China Southern and China Eastern which are the largest and second largest players respectively in the country (Lei, 2010). However, the company is China’s largest international carrier. It is a state-controlled company that is better known as the flag carrier of China. As far as recent developments are concerned, in March, 2010 the company announced its plan of taking over Shenzhen Airlines which is another important player in the Chinese airline market. On March 22 the company declared that it has acquired Shenzhen Airlines. According to Air China, almost $100 million will be