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SMART is an acronym for specific, measurable, achievable, realistic and timely. If you develop your company's goals and objectives to meet these requirements, then your marketing plan will have a good chance for success. Specific Each objective must define a Samsung objectives essays outcome.
The goal should contain enough detail so that the people involved understand what results are expected. Generalities only create confusion and lead to poor results.
Just having an objective to "get more business" is not helpful to anyone. Let's suppose that the Flying Pigs Corporation now sells 6, pairs of roller skates each year and wants to increase sales.
An effective goal could be to "increase sales of roller skates by 4 percent in the next six months. For tracking purposes, you would look to sell 40 more pairs of skates each month. Measurable An objective without a defined measurable result is like playing football and not keeping the score.
Numbers are essential for keeping track of your progress toward a goal and defining the expected outcome. It is impossible to know if an objective has been reached unless it can be measured.
In this example, you're going to make sure that sales are increasing by 40 pairs per month to meet the objective of raising sales by pairs in six months.
Achievable One way to assure certain failure is to set goals that no one believes can be reached in a realistic time period. Objectives are achieved by taking well-defined, measurable small steps on the path to the goal.
People must agree that the goals are attainable, and that they have the tools and skills needed to reach the objectives. The sales staff has agreed that increasing sales by 4 percent in the next six months is realistic and achievable. Realistic Goals must be formed in the context of current economic conditions and realities of the business climate.
It would be unrealistic to set a goal of increasing sales by 25 percent when a recession is looming on the horizon, and when three new competitors just opened up down the street.
Make sure you have the resources needed to achieve the objective. Do you have the right people, enough money, the best machines and materials necessary to reach your goal? The current economic climate is positive, so consumers have discretionary income available to buy more roller skates from Flying Pigs.
The company is currently operating at 78 percent of manufacturing capacity, so the plant has the ability to handle the increase in production. Timely Experience shows that goals are not reached if there is no deadline specified.
Efforts toward achieving a goal will meander, if a time expiration does not exist. The objective to increase sales of roller skates has a time limit of six months, so it meets the requirement of establishing a deadline to meet the goal.
The objective to "increase sales of roller skates by 4 percent in the next six months" meets all of the SMART criteria, so it has an excellent chance of being successful. Business managers can also apply the SMART outline to other areas of a company such as increasing productivity, improving the collection of accounts receivable and expanding the skills of employees.Marketing Mix for Samsung Galaxy S4 Essay examples; Marketing Mix for Samsung Galaxy S4 Essay examples.
Words Sep 16th, 12 Pages. It lists measureable objectives of this proposed marketing plan and provides decisions made and the reasons for the positioning strategy, product strategy, pricing strategy, distribution strategy and. Samsung's Target Market.
Introduction Samsung is a South Korean company founded in March Initially Samsung was in the trading . Marketing - Sample Essays: Over , Marketing - Sample Essays, Marketing - Sample Term Papers, Marketing - Sample Research Paper, Book Reports.
ESSAYS, term and research papers available for UNLIMITED access. Free samsung papers, essays, and research papers. The Introduction of the Samsung Color TV - The Introduction of the Samsung Color TV Background Samsung as a company was founded in in Korea.
46, employees are working at six Samsung Electronics facilities in Korea. the value of strategic management 2 Strategic Management is intended to achieve a company’s objectives. Strategic Management involves decisions and actions that result in the formulation and implementation of plans that involves long-term, future- oriented, complex decisions making and requires considerable resources, and top-management.
[tags: Samsung SWOT Analysis] Better Essays words ( pages) Samsung Analysis Essay - EXECUTIVE SUMMARY Today business enterprisers are creating new products due to becoming different than rivals. After that as a result it could be observed that technology is growing rapidly. Some companies will be attractive by people.