To target the best customers, you can use strategies such as segmentation, targeting, and positioning (STP). Segmentation involves dividing your market into distinct groups with different needs, preferences, or characteristics. Targeting involves choosing which segments to focus on based on their potential profitability and fit with your business. Positioning involves designing your offering to meet the needs of your target customers and differentiate it from competitors. Additionally, setting specific, measurable, achievable, relevant, and time-bound marketing objectives can help guide your strategy.

stars icon
42 questions and answers
info icon

A company can ensure that its marketing objectives are time-bound by setting clear deadlines for each objective. This involves defining the start and end dates for each marketing activity, and ensuring that these dates are realistic and achievable. Regular monitoring and evaluation of progress towards these objectives is also crucial. This can be done through regular meetings, reports, and use of project management tools.

Examples of marketing objectives that are not specific, measurable, achievable, relevant or time-bound could include vague goals such as 'increase brand awareness', 'improve customer satisfaction', or 'enhance market presence'. These objectives lack specificity, measurability, achievability, relevance, and time-bound elements, making them ineffective for strategic planning.

A company can ensure that its marketing objectives are achievable by making sure that the objectives are specific, measurable, achievable, relevant, and time-bound. This is often referred to as the SMART criteria. It's also important to discuss financial objectives upfront to better the chances of staying within the allocated budget.

View all 42 questions
stars icon Ask another question
This question was asked on the following resource:

Marketing Plan

Make your goals measurable and proactively align your vision with new opportunities with our Marketi...

Download template
resource preview

Download and customize more than 500 business templates

Start here ⬇️

Voila! You can now download this Presentation