Zamim/develping a marketing plan/objectivesetting

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Objective setting

An objective is a quantified statement of what an organization intends to do. Objectives are supposed to meet the 'SMART' criteria meaning that they should be:

  • Specific
  • Measurable
  • Achievable
  • Realistic
  • Time-bound

An example of an objective would be 'to increase market share of product A by 10% in the next 8 months.' Marketing Objectives include the following:

  • increasing profits
  • achieving a specific return on investment
  • increasing market share
  • to enhance the image of an organization
  • to reduce costs