Smart Marketing Objectives Assignment

Case Study

Table of Contents
Introduction......................................................................................................................................1
Task 1...............................................................................................................................................1
Develop two SMART marketing objectives for the Aussie Toy Company Ltd.........................1
Task 2...............................................................................................................................................1
Describing primary and secondary stakeholder of the company along with their inter-
relationship..................................................................................................................................1
Task 3...............................................................................................................................................2
Identifying and describing key issues of cited marketing areas which are to be paid attention. 2
Task 4...............................................................................................................................................4
Two sales forecasting technique employed by the company......................................................4
Task 5...............................................................................................................................................4
a) Implementation of marketing activities for a product.............................................................4
b) Outlining specific action required to be implemented............................................................5
Task 6...............................................................................................................................................6
Monitoring each element of marketing mix................................................................................6
Task 7...............................................................................................................................................7
Writing a brief report along with recommendations...................................................................7
Task 8...............................................................................................................................................8
Evaluation of two scenario related to projected business performance......................................8
Conclusion.......................................................................................................................................8
References........................................................................................................................................9

Introduction
Marketing is referred to be an approach through which customers are created and retained
with an organisation for longer duration. This report attempts to undertake an detailed analysis of
marketing activities of an organisation so that effective strategies could be developed. Focus in
this report will be on The Aussie Toy Company Ltd which is an leading manufacturer for toy
products in the Australian Market. There will be an development of SMART objectives along
with consideration of stakeholder of an organisation. The legislation and forecasting techniques
will be discussed briefly as well.
Task 1
Develop two SMART marketing objectives for the Aussie Toy Company Ltd
The marketing objectives states where a business wishes to achieve in the defined time
period. The clear definition of targets assists a business in making sure that appropriate plans are
formulated leading to fulfilment of these targets. It is essential for a business to opt for SMART
targets as they are helpful in building up of effective business objectives for a firm. The major
two objectives which have been formed for this company are as follows:
 “To increase the sales of soft toys by 20% through online and retail channels for the
period July-September 2019”.
 “To enhance the market share for online video games by 15% by December 2019”.
The reason for which these objectives are undertaken is that The Aussie Toy Company is an
leading manufacturer for toy and video games and therefore can capitalise upon opportunities
which are available in the Australian economy. The second objectives focuses on building a
customer base for the organisation as there is an threat of new entrants in the market and costs
related to import is less as well. Therefore it is essential for a business to build a loyal customers
base which can provided sustainability to business.
Task 2
Describing primary and secondary stakeholder of the company along with their inter-relationship
Stakeholders are the parties and individuals who are being affected by the actions and
decision of an organisation. The individuals may or may not have a stake in the company. The
categorisation of stakeholders can be carried out on primary and secondary grounds.
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Primary stakeholders: Primary stakeholders of an organisation are individuals who
possess an direct stake in the organisation and milestones being achieved by it. The primary
stakeholder of The Aussie Toy Company are its strategic partners, shareholders, staff,
management and its clients who are being influenced significantly by the decision taken by an
organisation. They can be mainly differentiated on the basis of financial stake which has been
possessed by them in company's equity. They are in the legal relationship with the company and
it must abide the norms which have been formulated during the agreement.
Secondary stakeholders: These are referred to people and parties who have an indirect
interest in the company and its operations. The parties which are emphasized in this segment are
competitors, government, association, vendors and media. These are to be considered by an
organisation as well while undertaking decisions as they can influence operations as well. These
stakeholders are known to represent interest of parties which are not capable such as
environment, employees etc.
There can be relationship between primary and secondary stakeholders of an
organisation. There can be a major overlap between primary and secondary stakeholders as the
people who may be possessing lesser financial interest be more concerned of operation of the
company and its effect on environment and economy. For instance: An employee experiencing
unfair treatment can seek help of secondary trade association for a productive resolution of the
situation.
It is essential to engage stakeholders in the process so that the objectives can engaged in
newly developed objectives in the right manner. It will be not difficult to engage stakeholders in
this process as interest of primary stakeholder are being fulfilled through provision of better
returns on their investment and rewarding employees of their hard work. The practices are to be
fulfilled in an sustainable manner which is further helpful for external stakeholder of a business.
Task 3
Identifying and describing key issues of cited marketing areas which are to be paid attention
There are numerous norms and legislation which have been formed for specifically
marketing section of an organisation. It is essential for marketing manager to make sure that laws
and norms are abided leading to attainment of right information. The major marketing areas and
their relevant legislation will be discussed below.
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