British Telecom’s Aims and Objectives
• Social aims
• Profit as an aim
• Commercial aims
• Service as an aim
• Increase product awareness among the target audience by 30 percent in one year.
• Inform target audience about features and benefits of our product.
• Plans can then be made to achieve these targets.
• Motivate the employees. It
• Measure the progress towards to its stated aims.
Marketing strategy of the company.
Marketing strategy is a process that can allow an organisation to concentrate its limited resources on the greatest opportunities to increase sales and achieve a sustainable competitive advantage. A marketing strategy ...view middle of the document...
There's a straightforward structure to follow. The first step is to decide upon how you are going to judge the gap over time. For example, by market share, by profit, by sales and so on.
This will help you to write SMART objectives. Then you simply ask two questions - where are we now? and where do we want to be? The difference between the two is the GAP - this is how you are going to get there. Take a look at the diagram below. The lower line is where you'll be if you do nothing. The upper line is where you want to be.
What is Gap Analysis?
Your next step is to close the gap. Firstly decide whether you view from a strategic or an operational/tactical perspective. If you are writing strategy, you will go on to write tactics - see the lesson on marketing plans. The diagram below uses Ansoff's matrix to bridge the gap using strategies:
Strategic Gap Analysis
You can close the gap by using tactical approaches. The marketing mix is ideal for this. So effectively, you modify the mix so that you get to where you want to be. That is to say you change price, or promotion to move from where you are today (or in fact any or all of the elements of the marketing mix).
Tactical Gap Analysis
The Balanced Scorecard is an approach that can be used by strategic marketing managers to control, and keep track of, key performance indicators. In fact the scorecard itself is designed to be wholly strategic since it contains long-term outcomes and drivers of success. There are four zones in a balanced scorecard namely financial, customers, business processes (or simply processes), and learning and growth. Each measure is part of a longer chain of cause and effect, and all of the measures eventually lead to outcomes (read on and this will become clearer). So the scorecard is 'balanced' in that outcomes are in balance with each other.
The benefit of the scorecard is that is overcomes short-term quick fixes, and gives the strategic marketing manager a straightforward...