This document discusses strategic planning and setting SMART marketing objectives. It defines strategic planning as developing strategic fit between organizational goals and capabilities and changing market opportunities. Key steps in strategic planning include defining the company's mission, setting objectives, designing business portfolios, and planning marketing and other functions. Effective objectives are SMART - specific, measurable, achievable, realistic, and time-bound. They clearly define desired outcomes and timelines to help achieve marketing and business goals.

1. Companywide Strategic Planning
Strategic planning is the process of
developing and maintaining a
strategic fit between the
organization’s goals and capabilities
and its changing marketing
opportunities

2. • Steps in strategic Planning
Defining Comp
Mission
Setting Comp
Objectives
Designing Business
Portfolio
Planni
ng
Marke
ting
and
Other
Functi
ons

3. Defining Market-Oriented Mission
• Mission Statement
• Why? Core purpose? Customers? Values?
Features of Mission Statement;
• Short
• Memorable
• Inspiring
• Market Focused (To Whom We Serve?)
Now what is Market-oriented Mission?
GOOGLE:
To organize the
world’s info
and make it
universally
accessible and
useful.

4. Market-Oriented Mission
• Market-oriented mission statement defines the
business in terms of satisfying basic customer needs
• Some companies define their mission myopically in terms of product and
technology e.g. “we make and sell furniture”
» “we are a chemical processing firm”
• Product and technology eventually become outdate but basic
needs may last forever Nokia: “Connecting People” not only
focused on selling phone but….

5. Setting Company Goal and Objectives
• Set objectives to define how you’ll achieve
your marketing goals.
• Each objective should specify an action and a
desired outcome.
• Goal/Objective, Action, Timeline, Desired
Outcome
a) To develop new markets (Goal), Over the
upcoming one-year period (Time) To increase
sales of Product X by 5 percent (Desired
Outcome)

6. Typically, clients marketing objectives
include some or all of the following:
• Increase sales
• Build brand awareness
• Grow market share
• Launch new products or services
• Target new customers
• Enter new markets internationally or locally
• Improve stakeholder relations
• Enhance customer relationships
• Improve internal communications
• Increase profit

7. Developing SMART Marketing Objectives
• Essentially your marketing objectives need to fit
in with the overall business objectives and drive
the direction of your marketing strategy. To be
effective, any objective should be SMART.
• A SMART objective is always:
Specific
Measureable
Achievable
Realistic
Time-bound

8. Specific
• What exactly do you want to achieve? The more
specific your description, the bigger the chance you'll
get exactly that. S.M.A.R.T. goal setting clarifies the
difference between 'I want to be a millionaire' and 'I
want to make €50.000 a month for the next ten years
by creating a new software product'.
• Questions you may ask yourself when setting your
goals and objectives are:
• What exactly do I want to achieve?
• Where?
• How?
• When?
• With whom?
• What are the conditions and limitations?

9. Measurable
• Measurable goals means that you identify
exactly what it is you will see, hear and feel
when you reach your goal. It means breaking
your goal down into measurable elements.
• When you measure your progress, you stay on
track, reach your target dates

10. Achievable/Attainable
• Is your goal attainable? That means
investigating whether the goal really is
acceptable to you. You weigh the effort, time
and other costs your goal will take against the
profits and the other obligations and priorities
you have in life.

11. Realistic
• To be realistic, a goal must represent an objective
toward which you are both willing and able to
work. A goal can be both high and realistic; Your
goal is probably realistic if you truly believe that it
can be accomplished.
• A high goal is frequently easier to reach than a
low one because a low goal exerts low
motivational force. Some of the hardest jobs you
ever accomplished actually seem easy simply
because they were a labor of love.

12. Time-Bound
• Time is money! Make an uncertain plan of
everything you do. Everybody knows that
deadlines are what makes most people switch
to action.
• Every body wants to accomplished what they
need in a given time period.