Final answer:
Business marketing objectives are shaped by shifts in technology and globalization, focusing on key areas influenced by increasing competition and the vast reach of the internet. Objectives include increasing profitability, market reach, and aligning with ethical and legal standards.
Step-by-step explanation:
Business marketing objectives often target a range of key areas, shaped significantly by the shifts in technology and globalization over recent decades. These objectives are influenced by the need for businesses to adapt to an increasingly competitive environment, where consumers and other businesses can engage with suppliers globally, thanks to advancements in communication technologies, and notably the internet. Objectives tend to focus on areas such as market penetration, brand loyalty, and revenue growth, with an overarching goal to increase profitability. Business-to-business platforms, for example, exemplify the technological and global reach aspects that companies must consider when defining their marketing strategies.
Moreover, business marketing objectives align with the firm's desire to make decisions that enhance profitability—the difference between the cost to produce a good and its selling price. While creating these objectives, firms must also operate within the framework of legal regulations and often devise a code of ethics to ensure compliance and reflect societal values. These circumstances demand strategic marketing objectives that can navigate through a mix of competitive pressures and ethical considerations while striving for economic success.