Strategic Planning for Competitive Advantage

two companies in 2008. It designs, manufactures, markets and distributes a large range of high tech leisurewear and

of the goals and objectives the organisation is trying to achieve in relation to customer

Before proceeding with the next section (objectives), it is recommended that you complete the Marketing Plan Worksheet. Ask the academic mentor in the learning community for this if you do not have it.

Life cycle costing is used in long-term rewarding systems other than the usual short-term rewarding systems that would have been with no life cycle cost.

The company also has many smart objectives to achieve, e.g. they are looking for awareness of the brand, growth and sales to make more profit. However these objectives have to be SMART (specific, measurable, achievable, realistic and time scale) in order to be successful and to see

An objective is a three-fold subset of a goal, an articulation of the various elements that are necessary to achieve the goal. There are 11 specific elements that can identified for public relations objectives: goal rooted, public focused, impact oriented, research based, explicit, measurable, time definite, singular, challenging, attainable and

These objectives are specific as they explain exactly what the company expects from their employees, how they should treat their employees and customers and how the retailer should take into account environmental factors when dealing with products/services etc. They are not so much measurable as they do not imply whether they have achieved these objectives or not. They are achievable because they are straight forward. They are realistic and using the correct resources they can be met. They are not so much time bound as they do not state exactly when they wish to achieve these objectives by but you can tell they will be ongoing objectives that they constantly wish to achieve in the future.

Corporate-level strategies are liable for market definition; they address the entire scope of the business. This strategy helps a business to diversify its service. It gives them direction in which geographic region they should operate and which service markets to strive in. “Thus, an effective corporate-level strategy creates, across all of a firm’s businesses, aggregate returns that exceed what those

The developed marketing goals and objectives will determine how the company runs its business. This marketing objective can:

To make these goals effective and efficient objectives are important. It gives an organization right direction to achieve its goal, that is why organizational objectives should be specific, measurable, achievable, realistic and time bound (SMART).

According to Porter (1985) a company can apply three generic types of strategies to protect itself while competitive force is a key issue of the management. To achieve this position a strategy based on competency must be accomplished

The objectives, which a company wants to achieve, can be varied. They can range from sales revenue maximization, increasing market share to growth. Growth is one of the most common and sought after corporate objectives because of its relative advantages. This is so because many perks come with the expansion of a business, which appease almost everyone.

Being specific is important because it is to find out what kind of particular targets that needs to make. The objectives need to be measured so that the managers can see whether it has been attained or not. As for achievable, they make sure that their objectives are by any chance achievable in terms of quality of food and customer service. For relevant, the objectives are applicable .If customers are unhappy, they will not be able to make the profit that they want to achieve and this can make the business down. The last SMART component is time, set the objectives is to a standardize duration and also up to

Setting sales or communication objectives for an IMC campaign is beneficial to practitioners for ensuring focus and coordination, guiding decision-making, and evaluation (Belch, Belch, Kerr & Powell, 2014, p.225 - 226).

2. Advertisement Objective: The advertisement objective aims to identify the purpose of this advertisement, age group and target audience.