This first video, out of three, launches the second chapter of a marketing plan: Setting Marketing Objectives.
The video demonstrates how to draw marketing objectives based on the previous chapter: Analyzing the Current Situation. You are closely guided in order to be able to “translate” the collected data and its analysis (Chpater 1 of a marketing plan) into concise marketing objectives (Chapter 2 of a marketing plan).
Before setting marketing objectives for the upcoming year, marketing strategy is required. In this video ANSOFF Matrix is being used, “translating” the macro environmental analysis, market analysis and competitive analysis into one or few marketing strategies: Penetration Strategy, Product Development Strategy, Market Development Strategy and Diversification Strategy when a new product will attract new demand – new markets.
The second video; Setting Marketing Objectives (2), concludes ANSOFF matrix and demonstrates how to set the following objectives:
– Desired market segmentation
– Desired Marketing-mix
– Marketing objectives as a result of the SWOT Analysis by using TOWS analysis
The third video; Setting Marketing Objectives (3), demonstrates how to set the following objectives:
– Marketing objectives as a result of realizing the perceptual gaps; positioning versus position
– Quantitative objectives: setting a yearly sales forecast