It is components that can be measure. Measurable Goalsare, such as, amount of time on a project, competition, identify, price and benefits of the goal, planning,
analyzing, diversity, qualitative (value) and quantitative method (measurable),
Specific (5 Ws), Achievable,
Relevant (mission) and Time-bound (due date). In
addition, I believe that measurable goals are the quantity of
determinate the amount of time it would take to achieve the objectives. From my
experience, the objectives need a plan to work on a specific purpose. In my
opinion, goals need to be researched for accurate measurement. In addition, I
believe diverse objectives are achieved.
Moreover, I believe that competition strategy is necessary in marketing.
Furthermore, I believe that the Porter’s 5 forces must be used in marketing,
(Investopedia, 2014). The Porter’s 5 Forces are such as, Competition in the
industry
Potential of new entrants into industry, Power of suppliers, Power of customers
and Threat of substitute products (Investopedia, 2014). Today, “internet has
become clear that the Internet and the Web have become integral and
indispensable tools of the marketing manager” (Winer, S. R. and Dhar, R., 2011). In addition, it is
important to “know the exact and tangible result from your efforts” (Rouillard, L., 2009).
It is necessary to “know the kind of effort and measurements related to the
goal” (Rouillard, L.
(2009). Therefore, it is suggested that you “identify, price and know the
benefit of goal” (Rouillard, L. (2009). The cloud of the “goal is knowing the
elements, planning analyzing” (Rouillard, L. (2009). “The elements are the methods and/or systems
used in planning a goal” (Rouillard, L. (2009).
An achievable
goal, to become successful in planning a goal answers the
question, “What do I expect the outcome of my (our) actions
to be?” In most cases you want to express this outcome with an action verb. For
example: I want to reduce operating expense in my department from 2% of sales
to 1.5%” (Rouillard, L. (2009). The next
element answers the question to the measurable outcome “How will I know when
I’ve reached the outcome?” or “What are the signs I need to see so that I know
I’ve reached the goal?” The situation surrounding the outcome has to include
things you can use to determine that you’ve reached the goal simple,
identifiable signs of success. For example: The operating expense was 2% in
June, 1.9% in July, and now 1.65% in August. The expenses are heading in the
right direction” (Rouillard, L. (2009).
Then, it is “a specific date and time by which to accomplish the goal
and this element answers, “When do I want to complete the goal?” It is “an
essential to specify the exact date and time by which you want to have
accomplished your goal. For example:
Reduce business expenses not to exceed 1.5% of total sales for this
calendar year” (Rouillard, L. (2009). In
addition, “A maximum cost (money, time, and resources) and this element
answers, “What is the maximum cost in money, time, and resources that I’ll
allow myself in order to achieve this goal?” The cost and resource constraint
forces you to place a financial value on the outcome. For example: This
reduction in operating expense will be achieved with the current measurements
and without lowering existing service standards. These elements help to clarify
our definition of a goal: A specific and measurable outcome to be achieved
within a specified time and under specific cost constraints” (Rouillard, L.
(2009). According to Juon, C., Greiling,
D. and Buerkle, C., (2012), “Use business analysis to define your KPI measures
and goals.” The goal is to identify, track and measure what works and what does
not (Juon, C., Greiling, D. and Buerkle, C., (2012). The goal is repeatable
sales. (Juon, C., Greiling, D. and Buerkle, C., (2012). In a “Business
Analysis, it is important to define your KPI Benchmarks and Goals” (Juon, C.,
Greiling, D. and Buerkle, C., (2012). It is also important to have a “basis for
comparison” (Juon, C., Greiling, D. and Buerkle, C., (2012). Also, it is
suggested that answer the question “Do you report trends before and after a
change in your web infrastructure? Do you focus week over week, month over
month, year over year? Moreover, “designing your KPIs, it is important to
consider the following:”
“• Seasonality in your business determines what values to
use as benchmarks.”
“• In a highly seasonal business, such education, real
estate, or retail,”
“Conducting metrics month over month will cause a fair bit
of spin” Juon, C., Greiling, D. and Buerkle, C.,
(2012). For example, “If August is a peak month and September is a valley,
comparing month over month trends is less useful than looking at the same time
the previous year (Juon, C., Greiling, D. and Buerkle, C., (2012). Next, employees must align with the organizational culture (Ryan,
2012). The employees carry out the belief and behaviors of the company (Investopedia, (2014). Managers train employee to carry out the management interact and
handle outside business transactions Investopedia. (2014). In addition, “Often corporate
culture is implied, not expressly defined, and develops organically over time
from the cumulative traits of the people the company hires Investopedia” (2014).
Moreover “A company's culture will be reflected in its dress code, business
hours, office setup, employee benefits, turnover, hiring decisions, and
treatment of clients, client satisfaction and every other aspect of operations Investopedia” (2014).
Furthermore, “I usually try to set 4 -6 specific goals every year. Goals
need to be tied to specific outcomes. Below is an example of a non-measurable
goal, as well as, an example of a goal that is measurable, (Ryan, 2012).”
Now, it is important to discuss the goals and
understand their meaning as follows:
1.
Specific
In is important to use the five’ ws such as who, what, when, where and
why in the goal objectives” (Ryan, 2012). Also, it
is important to have a “timeframe for completion” (Ryan, 2012). It is
recommended that “action verbs are use, such as, create, design, develop and
other related action verbs” (Ryan, 2012).
2.
Measurable
It is important to “create a qualitative and quantitative method” (Ryan, 2012).
The
“qualitative method is that related to the quality of the products or services”
(Ryan, 2012). In quantitative method, it is related to cost and time management
(Ryan, 2012). In addition, “time management is planning and controlling hours
in a day” (Psychology
Today, 2014). For example, skills involved in managing your time include
planning for the future, setting goals, prioritizing tasks, and monitoring
where your time actually goes” (Psychology Today, 2014). Qualitative research market
research that usually involves small samples of customers and produces information
that by itself does not directly lead to decisions but is valuable as an input
for further research” Winer, S. R. and Dhar, R. (2011).
3.
Achievable
Employees are trained to control and influence the objectives given to
them (Ryan, 2012). Resources are provided to meet the objectives (Ryan, 2012).
To reach a goal it is important to influence, control and have resources and
employees aligning with organizational culture” (Ryan, 2012).
4.
Relevant
The “mission” is important (Ryan, 2012). It provides “information on
the organizational goals” (Ryan, 2012). For example, Walmart's
mission statement is, “We save people money so they can live better” (Neal, N., (n.d.). In addition,
“Develop and implement a diversity recruitment
plan that increases the number of diversity candidates by ten percent (Ryan,
2012.
5.
Time-bound
The Goal objectives are to identify a date of
completion (Ryan, 2012). It is also important to provide the actions taken to
achieve the goal (Ryan, 2012).
1.
“Non-Measurable Goal” (Ryan, 2012)
“Increase website traffic” (Ryan, 2012)
2. “Measurable
Goal” (Ryan, 2012).
“Within 3 months of launching XYZ marketing campaign, increase website
traffic by 10% month-over-month, with 75% of that traffic being new visitors
and 25% of that traffic being returning visitors” (Ryan,
2012). Goal is an accomplishment, not an
activity (Ryan, 2012). In addition, “Specific programs such as advertising
can have objectives in terms that are relevant to the particular activity
(e.g., awareness)” (Winer,
S. R. and Dhar, R., 2011). Furthermore, “A marketing plan is a written document
containing the guidelines for the product’s marketing programs and allocations
over the planning period” Winer, S. R. and Dhar, R., 2011). Moreover, “Advertising
decision making has six stages often called the 6M model for communications
planning” (Winer, S. R.
and Dhar, R., 2011).
1. “Market. Who is the
target audience?” (Winer, S. R. and Dhar, R., 2011).
2. “Mission. What is the
goal of advertising?” (Winer,
S. R. and Dhar, R., 2011).
3. “Message. What are
the specific points of communications?” (Winer, S. R. and Dhar, R., 2011).
4. “Media. Which media
vehicles will be used?”
(Winer, S. R. and Dhar, R., 2011).
5. “Money. How much is
the budget?” (Winer, S.
R. and Dhar, R., 2011).
6. “Measurement. How
will impact of advertising be measured?”
References
Juon, C., Greiling, D. and Buerkle, C.
(2012). Internet Marketing Start to Finish: Drive
Measurable, Repeatable Online Sales with Search Marketing,
Usability, CRM, and Analytics, Que Publishing, USA
Investopedia. (2014). Corporate
Culture, Retrieved from
http://www.investopedia.com/terms/c/corporate-culture.asp
Rouillard, L.
(2009). Strategy
Business Planning, Goals and Goal
Setting: Achieve Measurable
Results (100),
Retrieved from AXZO Press
Rouillard, L.
(2009). Strategy
Business Planning, Goals and Goal
Setting: Achieve Measurable
Results (100),
Retrieved from http://pn8vx3lh2h.search.serialssolutions.com/?ctx_ver=Z39.88-2004&ctx_enc=info%3Aofi%2Fenc%3AUTF-8&rfr_id=info:sid/summon.serialssolutions.com&rft_val_fmt=info:ofi/fmt:kev:mtx:book&rft.genre=book&rft.title=Goals+and+Goal+Setting%3A+Achieve+Measurable+Results%2C+Fourth+Edition&rft.au=Rouillard%2C+Larrie+A&rft.date=2009-11-13&rft.pub=Axzo+Press&rft.isbn=9781426018350&rft.externalDocID=9781426018350¶mdict=en-US
Ryan. (2012). How to Write a Marketing Plan for Your Website, Retrieved from
http://www.instantshift.com/2012/06/13/how-to-write-a-marketing-plan-for-your-
website/
Neal, N. (n.d.). Mission
and Vision Statement, Retrieved from
http://www.academia.edu/5539927/Mission_and_Vision_Statements
Psychology Today. (2014). Time Management, Retrieved from
http://www.psychologytoday.com/basics/time-management
Winer, S. R. and Dhar, R. (2011). Marketing Management
(Fourth Edition, Chapter 2 and page
37), A strategic
Marketing Framework, Retrieved from Pearson, Upper saddle, New Jersey
Winer, S. R. and Dhar, R. (2011). Marketing Management
(Fourth Edition, Chapter 1 and page
2) Marketing and the
Job of the Marketing Manager, Retrieved from Pearson, Upper saddle, New
Jersey
Winer, S. R. and Dhar, R. (2011). Marketing Management
(Fourth Edition, Chapter ten and page
291) Communications and Advertising Strategy, Retrieved from
Pearson, Upper saddle, New Jersey
Winer, S. R. and Dhar, R. (2011). Marketing Management
(Fourth Edition, Chapter 1 and page
26)
Retrieved from Pearson, Upper saddle, New Jersey
Winer, S. R. and Dhar, R. (2011). Marketing Management
(Fourth Edition, Chapter three and
67), Marketing
Research, Retrieved from Pearson, Upper saddle, New Jersey
