These goals are set by businesses when promoting their products or services to target customers with an aim of achieving them within a given time frame. The objectives for a particular product may include increasing product awareness among targeted consumers, providing information about product features, and influencing the customer to buy the product.
Many factors have to be considered while establishing effective marketing objectives.
SMART Approach can be described as:
setting specific, measurable, achievable, realistic and time specific objectives
This approach helps you manage your marketing activities and you can determine how successful those activities have been and if they have delivered particular benefits sought.
• Specific - the objectives should be precise and specific in what you want to achieve
• Measurable –objectives should be quantifiable
• Achievable –if your objectives feasible or you are aiming too high
• Realistic –if you have enough employees and resources to achieve your objectives else it might be unrealistic
• Time specific – defining a timing plan with target timing for each specific objective