Business – 3.1 The nature of marketing – Role of marketing | e-Consult
3.1 The nature of marketing – Role of marketing (1 questions)
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SMART assessment:
- Specific: The target (market share) is clearly identified.
- Measurable: A 5 % increase can be measured using market data.
- Achievable: Depends on current market position and competitive environment; without context it may be optimistic.
- Relevant: Market‑share growth aligns with overall business growth objectives.
- Time‑bound: The 12‑month deadline provides a clear timeframe.
Improvements:
- Provide a baseline figure (e.g., “increase from 20 % to 25 %”) to clarify the absolute target.
- Include supporting actions (e.g., launch two new product variants, increase advertising spend by 15 %).
- State how success will be measured (e.g., third‑party market research reports).