According to R.C. Cunningham, executive vice president of AFG Industries, "Every company has the opportunity to minimize head-on competition and maximize sales and profit potential by hitting 'em where they ain't.
"The key to finding where they ain't is a well defined strategic plan which ... evaluates the strengths and weaknesses of your company compared with the competition.
"This information ... becomes the road map that tells you where you are today, lets you see where you want to go tomorrow and how to get there. It's really knowing your market, and your competition, that makes the difference in selling a commodity product, a high-tech product, or a multi-million dollar piece of equipment successfully."
A company needs objectives. Focus and direction come from setting them. And from objectives come accomplishments.
Objectives provide a feeling of progress. They reduce the "wandering about" approach to achieving your goals and eliminate the practice of reacting to the "current situation," which far too many com panics use in setting direction. Acting in response to marketplace activity is a way of becoming just like the rest of the pack.
The purpose of objectives is to be very specific with information so you know what is expected. Here are some questions to answer:
Before any marketing or advertising program begins, most people have an idea of what they want to achieve. But they often express their in goals vague terms. For example, an objective "to increase sales" is not particularly useful. By how much do you want to increase them? In which product areas? Everywhere, or only in certain geographic regions?
Your objective must be defined, documented, specific and numeric. Here are some examples:
Objectives are the foundation for all planning. Without them, you have no direction. You'll probably do your marketing by wandering about. You must have objectives to achieve your goals.
Alex d'Arbeloff, of Teradyne, in Quebec, says: "If you can't measure it, you can't improve it." Set your objectives so that you can measure where you have been, where you are now, and where you are going.
by ROCKINGHAM*JUTKINS*marketing, all rights reserved.