Reference no: EM132637999

For strong, successful marketing, you need to connect your goals with the outcomes of various marketing activities so that you can measure your degree of success on a regular basis. To accomplish this, you need to design measurable objectives and specific key performance indicators (KPIs) that will help you to (1) stay on track with your marketing plans and (2) inform you if you are achieving your goals in the timeframe you desire.

Developing KPIs

For a company in your area of expertise or interest (it could be your current employer), consider several business/marketing needs, problems, and/or pain-points. (NOTE: The scenario for this assignment cannot be associated to your Marketing Plan assignment.) Develop a set of interconnected goals, objectives, and KPIs that will help the company achieve success. Specifically, please deliver the following:

Question 1: Write a short description (1-2 paragraphs) of the industry, the company, and some pertinent marketing needs, problems, and/or pain-points.

Question 2: List and explain 2 or more higher-level conceptual goals (and how the achievement of these goals would help the company be successful). To mirror what we often find in the marketplace, these goals should be somewhat ambiguous.

Question 3: List and detail 2 or more SMART objectives for each goal that help to define that goal.

Question 4: List and detail 2 or more KPIs for each objective that you list (some KPIs may be direct measurements and others may be indirect measurements).

Question 5: Create a visual that illustrates how the KPIs, objectives, and goals are interrelated.

Question 6: Create a timeline (weekly for 2 months; monthly or quarterly for 12 months) showing periodic performance expectations for each objective and KPI, as well as when particular KPIs will be measured, observed, and assessed. (Consider whether and how your KPIs need to change each period to meet the final objectives.)