marketing objective
Marketing objective
Marketing objective is defined as what you want to achieve before entry a new market. An objective can aim at achieve more, reduce errors and improve effectiveness and efficiencies (University of Ballarate, 2013). In addition, SMART approach is one of the most important ways for marketers to make strategy plan. Therefore, this study will use SMART approach to making marketing objective. SMART stands for: specific, measurable, achievable, realistic and timed. Before using this method, there are some questions that marketers need to be considered. What needs to be achieved? Is the goal realistic? Is the target date realistic (University of Ballarate, 2013)?
(This table comes from: http://ind.chyxx.com/201308/217601.html)
As we can see from the table, Chinese mask industry’s CAGR has a steady increase trend from 2006 to 2011 and My Beauty Diary became the leading brand in Chinese mask market in 2012. This means, My Beauty Diary has a good performance in its area. Therefore, we would like to make a marketing objective for My Beauty Diary to entry the Indonesian market as follows. More specifically, first we hope My Beauty Diary can become market share leadership in 2015. Normally, product quality leadership means high costs. Thus, product quality leadership will increase the price to balance the profit. However, market share leadership stands for lower price and My Beauty Diary is aim at low price with high quality. That is why we choose market share leadership as My Beauty Diary’s marketing objective. Second, My Beauty Diary will have promote activates with health club, local beauty organization and local retailer stores. Connect with local industry is a good way to entry the new market, because this will help companies eliminate some barriers. Third, by the end of year three, achieve 20% of shares through internet. With the development of the online shopping, more and more consumers would like to choose internet as a shopping channel.
Marketing objective is defined as what you want to achieve before entry a new market. An objective can aim at achieve more, reduce errors and improve effectiveness and efficiencies (University of Ballarate, 2013). In addition, SMART approach is one of the most important ways for marketers to make strategy plan. Therefore, this study will use SMART approach to making marketing objective. SMART stands for: specific, measurable, achievable, realistic and timed. Before using this method, there are some questions that marketers need to be considered. What needs to be achieved? Is the goal realistic? Is the target date realistic (University of Ballarate, 2013)?
(This table comes from: http://ind.chyxx.com/201308/217601.html)
As we can see from the table, Chinese mask industry’s CAGR has a steady increase trend from 2006 to 2011 and My Beauty Diary became the leading brand in Chinese mask market in 2012. This means, My Beauty Diary has a good performance in its area. Therefore, we would like to make a marketing objective for My Beauty Diary to entry the Indonesian market as follows. More specifically, first we hope My Beauty Diary can become market share leadership in 2015. Normally, product quality leadership means high costs. Thus, product quality leadership will increase the price to balance the profit. However, market share leadership stands for lower price and My Beauty Diary is aim at low price with high quality. That is why we choose market share leadership as My Beauty Diary’s marketing objective. Second, My Beauty Diary will have promote activates with health club, local beauty organization and local retailer stores. Connect with local industry is a good way to entry the new market, because this will help companies eliminate some barriers. Third, by the end of year three, achieve 20% of shares through internet. With the development of the online shopping, more and more consumers would like to choose internet as a shopping channel.