WEEK 10- OBJECTIVES

Before any marketing plans are said, there must be some objectives confirmed. The
“objectives should be realistic, measurable, and time specific” (MKTG3, McDaniel Lamb Hair, Ch. 2, pg. 18). The objectives should also be consistent and point out the priorites of a business.

One of Mahal’s objectives is to achieve 12 percent dollar market shares in our business within 12 months of product introduction. We will accomplish this objective by getting “consumers to recognize an imbalance between their present status and their preferred state” (MKTG3, McDaniel Lamb Hair, Ch 5, pg. 64). When hearing about Mahal, the final touch of being loved, women will soon be aware that their wants and needs of enhancing who they are are in their reach. Owning a bottle of Mahal is to complete a woman’s sense of being. The scent lures people to them and in return women desire the aroma of Mahal.

Another objective is to gain 20 percent of our targeted market every year. One way to accomplish this is to obtain “information about customers, competitors, and markets; examining the information from total business perspective; determining how to deliver superior customer value” (MTKG3, McDaniel Lamb Hair, Ch. 1, pg. 6)

Mahal’s other objective is to spend 10 percent of sales revenue between 2011 and 2012 on research and development in an effort to introduce at least three new products in 2012. After Mahal is successful, we will be looking into creating new products for our customers. To be successful in developing and introducing new products, we will “make the long-term commitment needed to support innovation and new product development” (MKTG3, McDaniel Lamb Hair, ch. 10, pg146).

Mahal’s objectives are time specific, assessable, and reasonable. Customers and employees will be satisfied, motivated, and successful.