Question

Topic: Student Questions

Help Defining Smart Marketing Objectives

Posted by Anonymous on 3/27/2008 at 8:37 AM ET 125 Points
Hi guys so i am trying define marketing strategies for Nokia Australia, I have done a swot of the company but am having trouble translating this to objectives.

Posted below is what i've done, this is my first time trying to write marketing objectives so they are pretty poor and definitely not smart.



MARKETING OBJECTIVES:

Market Development
•Using innovative advertisement to increase our target audiences product awareness about features and benefits of our product and its competitive advantage, leading to a 10 percent increase in sales in one year.

Market Growth
•Following market trends offer leasing arrangements with companies much the way other expanding technology such as computers are leased to increase sales to businesses.

New markets
•Penetrating the retiree market which is often over looked with a simple phone with a very friendly basic user interface to help increase sales and market share.
•Using research and design judge what the certain segments of the market look for in a phone
•Continue to develop current product to better suit the needs of the consumer.



Cheers for your help guys,

Pat
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RESPONSES

  • Posted by Jay Hamilton-Roth on 3/27/2008 at 9:07 AM Accepted
    Develop: Specify 10% increase when (not just one year): Jan 1, 2010 (for example). Clarify "innovative" (online? print? video?) ads. Product awareness doesn't generate sales - solving a need does.

    Growth: Get clear - are you specifying leasing a phone to a consumer? A phone is a much lower ticket item than a computer or car.

    New: Are there other retiree phone options out there? If so, how's yours different? Instead of adding features (which most consumers say they want), keep it dead-simple. For example, the biggest % of the camcorder market is now owned by https://www.theflip.com/ - it's dead simple, not full of buttons and options.
  • Posted on 3/27/2008 at 9:30 AM Author
    Those are three areas i though i could set objectives for and thankyou for your response but as much as i understand what you're saying i'm still unsure how i could translate it in to a clear objective.

    Cheers,

    Pat
  • Posted on 3/30/2008 at 4:16 AM Author
    Any other responses guys?
  • Posted on 4/4/2008 at 6:27 PM Accepted
    By SMART do you mean,
    S=Simple
    M=Measurable,
    A=Attainable
    R=Realistic
    T=Timebound

    If Yes, then we can run your objectves against these criterias.
  • Posted by mmorrison on 4/9/2008 at 2:14 PM Accepted
    Hi
    how can you write SMART (or any other type of objective) based only on a SWOT??
    * what are the goals of the company?
    * what do the shareholders expect as a return?
    * what market do they want to hit?
    * what culture do they wish to promote?

    Have you taken into account the context in which the business operates... PEST or PESTLE analysis?

    I could go on.
    Writing an objective is easy when you know what success measure your client has - and almost impossible without!

    One of the big challenges you have is using words that are difficult to measure - innovative, "follow market trends", judge, continue...
    you need HARD terms.. i.e.

    * increase sales by x% within y months
    * increase brand awareness using survey z by x% in y months... etc

    Please do not tryy to write these in isolation from the business plan.... it will end in tears..

    Good luck
    Mike


    References:
    https://www.cipd.co.uk/subjects/corpstrtgy/general/swot-analysis.htm or https://www.rapidbi.com/SWOT
    https://www.rapidbi.com/smarter

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