Download 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 2435 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