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
