The marketing objectives

At the core of any great marketing plan is a list of strategic and clear marketing objectives. They

are pivotal part of marketing startegy and a company will struggle with achieving its goals if it does not

have clearly defined targets. The most important objective for a leasing company like “MOGO” is

increasing sales and revenue. We established a marketing objective for them to increase by 5% each in a

period of six months. One way the comany can achieve this is to expand the customer base, which is the

main source of revenue. The goal is to increase the number of most loyal and engaged customers by

10% in six months. For this to be put in action, it is important to increase the brand awareness, for

instance the number of visitors on website and the net followers on social media, views of the blog.

Better engagement of site visitors and followers turns more people into sales prospects and potential

loyal customers. For this objectives the company has following targets: the number of visitors on

website - increase by 50%, the number of net followers on social media - increase by 60%, the number

of blog views – increase by 80%. All in six months period. And finally, abovementioned marketing

objectives should result in increase in number of filled applications by 15% in the same time period.

Competitive Environment

In order to develop a good marketing strtategy, the company needs to understand its

competitors and their tactics. “MOGO” has many direct competitors in Georgia, for example:

“SWISSCAPITAL”, “TBC LEASING”, “GEORGIAN LEASING COMPANY”, “BB LEASING” and many more small

companies. “MOGO” has also several indirect competitors such as “LIBERTY BANK” and “CREDO BANK”.

Even though, they are bigger establishments and offer somewhat different products, thay have almost

the same target customers as “MOGO”. All of the above mentioned companies try to attract comsumers

to issue loans for diffent reasons. Most of them have branches all around Georgia, while “MOGO”

operates only in five cities. The main strength of this company is that it gives money to people without
many procedures and requrements in a very short period of time. Because of this it draws attention of

clients who have bad credit scores and history or need money immediately. This is what differentiates

“MOGO” from banks. Also, it has spent a lot of money on advertising and many people are aware of its

name, so when they think about auto leasing, “MOGO” immediately comes to mind in comparison to its

direct competitors. One of “MOGO’s” weaknesses is that it has very high ineterest rate, and those who

needed money immediately and chose “MOGO” because of that, after some time tend to transition to

banks that offer less interest rate but harder procedures. “MOGO” has many opportunities it can exploit.

For now, it focuses only on auto leasing, while it could also pay attention to pawning, money

remittances and different types of loans that could generate more revenue. The most important threat

that this company faces is that its clinets have high risks of defaulting their loans. If many of them do not

pay the loan, the company will lose its income and go banckrupt.