P4-P4 use marketing research for marketing planning
P4 use marketing research for marketing planning
Mrs Howe
Lesson Objectives
P4 be able to use marketing research for marketing planning
Interpret market research and identify the Marketing strategy and formulate SMART targets to enable the organisation to meet the strategic aims
Which of these targets are SMART?
• To sell more tins of cat food by February
• To answer all customer service phone calls within three rings within six months
• To increase profit margins by 30%
• To raise awareness of Nokia Products in the 24-35 age group by 15% within the next 12 months
• To become market leader
Where required rewrite the target to make it
SMART
To sell more tins of cat food by
February
• Specific To sell more tins of cat food
• Measurable more
• Achievable ? Don’t know how
• Realistic ? many selling at moment
• Time scale by February
To increase sales of cat food by 10% by February
2011
To answer all customer service phone calls within three rings within six months
• Specific
• Measurable
• Achievable
• Realistic
• Time scale
To increase profit margins by 30%
• Specific
• Measurable
• Achievable
• Realistic
• Time scale
To raise awareness of Nokia Products in the 24-
35 age group by 15% within the next 12 months
• Specific
• Measurable
• Achievable
• Realistic
• Time scale
To become market leader
• Specific
• Measurable
• Achievable
• Realistic
• Time scale
