University Report: SMART Objectives and Justification for DM Vintage

This report provides a detailed analysis of the SMART objectives set for DM Vintage, a vintage fashion retailer. The objectives include increasing brand awareness, improving customer loyalty, boosting sales of vintage shoes, receiving shoe donations, and enhancing customer engagement through a hashtag campaign. The report provides justifications for each objective, supported by relevant market research, statistics, and consumer behavior insights, particularly focusing on the UK market. It explores how social media platforms and promotional activities will be utilized to achieve these goals, with specific timelines and measurable targets outlined for each objective. The report also highlights the importance of understanding customer preferences, especially those of the millennial population, in driving sales and brand engagement. The overall strategy aims to strengthen DM Vintage's market position through increased awareness and customer engagement, ultimately leading to higher sales volume and sustained growth. The report is completed with references to support the findings.

Running head: OBJECTIVE EVALUATION
OBJECTIVE EVALUATION
Name of the student
Name of the university
Author note

1OBJECTIVE EVALUATION
SMART table
Specific Measurable Attainable Relevant Timebound
1. To develop
brand
awareness
among the
target
audience for
DM Vintage
To develop
market
awraenress of
60%
The
organization
utilize
different
social media
platforms
which would
enbale the
same in
incraesing
awareness
among its
target group
of customers
The
improved
awareness
among the
target
customers
would
empwoer the
sales volume
for the
business
The overall
activities will
be completed
within 1st
September
2. Increase in
the loyalty of
the target
group of
customers of
customers
Incrase in return
customer by 10%
The
organization
provides the
customer
with diverse
range of
quality
The
incraesed
loyalty of the
customers
would allow
the veture in
ensuring a
The
improvement
of the
customer
loayalty will
be noticed
within 1st

2OBJECTIVE EVALUATION
propositiosn
which would
eable the
same in
retaining the
trust and
commitmet
of the
customer
while
operating in
the different
UK markets
steady
growth of
market share
and attain a
competitive
position
october
3. To improve
the sales
revenue
earned by the
organization
in vintage
shoes
To increase the
sales volume by
80% of vintage
shoes
The
improvement
of sales
volume in the
vintage shoes
section will
be secured as
the
organization
provides the
The
improvement
of the sales
revenue of
the
organization
would make
contribution
towards its
sustenane
The overall
ativity will
be completed
within 31st
October

3OBJECTIVE EVALUATION
customers
with quality
offerings
4. To improve
engagemet of
the
customers
through
receiving
donnation of
shoes
To receive
atleast 400
donation of
shoes from the
customers
The
extensive use
of social
media and
promotional
platforms
would allow
the
organization
in connecting
with the targe
audience and
receiving the
donation to
support their
business
objectives
The donation
of shoes
would enable
the
organization
in
introducing a
second-hand
store and
selling the
collected
shoes to the
atregt
audience for
improving
their market
scope
The entire
operation
will be
completed by
15th of
September
5. Developing
customer
engagement
To use the
#redefiningrebels
campaign for
The
extensive
online
The use of
the hashtag
campaign
The
campaign
will be

4OBJECTIVE EVALUATION
through the
hashtag#
campaigns
atleast 5000
times
presence of
the
organization
would allow
the
organization
in
empiwering
the trsut anbd
confidence
ofthe
customers
and
encouraging
the same to
get involved
in the
campaign
that is being
planned by
the
orgaization
would allow
the
organization
in improving
the rate of
customer
engageent in
the differet
business
operations
and spread
awareness
among the
new audience
completed
within 31st
october

5OBJECTIVE EVALUATION
Justification for the objectives
The first objective of the organization is to improve the rate of brand awareness among
the target customers by 60%. Increased brand awareness would allow the organization in
improving the market position of the same while operating in the different economies. The
organization will be completing the activities through the explicit utilization of different social
media platforms. The use of the social media platforms would enable the organization in
improving the scope of market awareness among the target audience of its rebel; customers. It
has been observed that more than 34% target customers of the company belongs to the millennial
population who are active users of different social media platforms (McColl et al., 2018).
Therefore, the utilization of social media platforms for increasing awareness would allow the
venture in empowering the scale of operations while increasing the market share of the same.
Moreover, the use of social media platforms would enable the organization in improving the
engagement of the customers in the different practices while improving their sales volume.
The second objective of the organization aimed at improving the sales revenue which will
be achieved through an increase in the sales volume by 10% within 1st October. The increase in
sales revenue is achievable for the organization as the business provides a wider range of quality
vintage proposition for the target audience. It has been observed that more than 23% of the
customers in the market are inclined towards buying vintage shoes (Carey et al., 2018).
Therefore, the objective of improving the sales revenue is well supported through the improved
quality of the propositions.
The third objective of the organization is to increase the sales of vintage shoes by 80%
within 31st October. It is an important objective for the organization as most of the revenue of the
organization is derived from the sale of vintage items. In this connection, the achievable aspect

6OBJECTIVE EVALUATION
of the objective is specifically based on the changing preferences of the customers and their
inclination towards vintage goods. The organization provides wider range of offers and discounts
for the target audience which has permitted the same in encouraging the growth of the sales. The
predicted growth rate of the millennial population’s spending on lifestyle in UK is 3.8%
(Experian.co.uk., 2019). Moreover, the increased employability among the millennial
population’s employability has empowered their disposable income. The growth by 3.8% on the
lifestyle would allow the concerned organization in improving the customer base. On the other
hand, the increased sale of vintage shoes would provide the business with sufficient revenue for
empowering their sustenance in the markets (Venter de Villiers, Visnenza & Phiri, 2018).
Therefore, the increased sale of the vintage shoes would allow the organization in improving the
market position of the same while empowering the growth and sustenance related concerns.
The fourth objective of the organization focused on receiving donation of around 400
shoes which is a measure that is being planned by the organization for initiating customer
engagement in 6he different processes. The achievement of the objective would portray the
clarity and awareness of the brand image among the target group of audience. In this relation, the
concerned organization have taken the initiative of encouraging the engagement of the customers
in the different processes through improved marketing communication techniques (Turunen,
Leipämaa-Leskinen & Sihvonen, 2018). Moreover, it has been observed that the concerned
organization is planning to sell the donated shoes through a second-hand store. The strategy
thereby would not only assist the organization in gaining a profit percentage but also improve the
engagement of eh customers in the different operational frameworks of the business.
The last objective of the organization aimed at conducting a social campaign which
would encourage initiated customer engagement for the business. It has already been observed

7OBJECTIVE EVALUATION
that most of the target customers of the concerned organization are the young adults who prefers
utilizing social media platforms. The millennial population in UK are more driven towards he
use of social media. It has been observed that more than 93% of the millennial population in UK
are active users of Facebook and Twitter (Experian.co.uk., 2019). Therefore, the social media
campaign would not only support the organization in encouraging engagement of the target
audience but also create positive brand awareness among the customers. Therefore, the overall
objectives of the organization are mostly directed towards gaining a competitive position in the
market through increased awareness of the target audience and engagement of the same for an
elevated sales volume.

8OBJECTIVE EVALUATION
References
Carey, L., Cervellon, M. C., McColl, J., Stewart, A., & Yuen, Y. C. Y. (2018). Vintage Fashion:
A Cross-Cultural Perspective. In Vintage Luxury Fashion (pp. 185-203). Palgrave
Macmillan, Cham.
Experian.co.uk (2019). [online] Experian.co.uk. Available at:
https://www.experian.co.uk/consumer/product-factsheets/Experian_SpendingPowerIndex
_whitepaper.pdf [Accessed 6 Mar. 2020].
McColl, J., Canning, C., Shearer, L., & McBride, L. (2018). Vintage fashion retailing: building
the store brand. In Contemporary case studies on fashion production, marketing and
operations (pp. 59-71). Springer, Singapore.
Turunen, L. L. M., Leipämaa-Leskinen, H., & Sihvonen, J. (2018). Restructuring secondhand
fashion from the consumption perspective. In Vintage luxury fashion (pp. 11-27).
Palgrave Macmillan, Cham.
Venter de Villiers, M., Visnenza, A., & Phiri, N. (2018). Importance of location and product
assortment on flea market loyalty. The Service Industries Journal, 38(11-12), 650-668.