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Unformatted text preview: A company's goals, past activities and even financial statements may be reviewed. Through this process, companies develop a list strengths, weaknesses, opportunities and threats. Understanding the environment gives companies a clear outlook on who their target market is and what that market's buying behavior is. Information is collected on how, what, when, where and why these consumers buy. Without this information, companies cannot develop objectives or implement any plans. With sufficient information about the market and its needs, companies are able to develop measurable marketing objectives as a part of their strategic marketing planning. Measurable objectives make it easier to create a targeted campaign that can be evaluated at a later date. Some examples include increasing sales by a given percentage, increasing orders by a specific number, or even receiving a specific amount of hits on a dedicated website....
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This note was uploaded on 08/29/2011 for the course ECON 530 taught by Professor Smith during the Spring '11 term at Berklee.
- Spring '11