Objectives
In his text, Marketing: An
Introduction, Gary Armstrong states that “the company’s objectives should be
defined in specific terms so management can measure progress and plan
corrective action if needed to stay on track.” (Armstrong, G., & Kotler, P.
(2011). Marketing: An introduction
(10th ed., p. MP7). Boston: Prentice Hall.) Furthermore, “each broad marketing
strategy must then be defined in greater detail...In this way, the firm’s
mission is translated into a set of objectives...” (Armstrong, G., &
Kotler, P. (2011). Marketing: An
introduction (10th ed., p. 43). Boston: Prentice Hall.) I will set
aggressive but achievable objectives for Cluck Wagon for its first two years.
First-Year Objectives
During its initial year of
operation, Cluck Wagon aims to achieve approximately $100k in sales, with
break-even achieved by the year’s end. With an average cover of $10*, that
equates with a sales goal of just under 30 customers served per day.
Second-Year Objectives
Double sales from the first
year, to $200,000.
Issues
In launching this new brand,
the main issue will be establishing awareness of our new brand and its brand
image, as well as positioning the company, with regard to its relevant target
customer segments.
Cluck Wagon will accomplish
its goals, in part through employing social media to promote itself, which we
hope in turn will generate ‘word of mouth’. Establishing and nurturing
relationships with distributors and partners will also be critical. We will measure
brand awareness quarterly, in order to adjust our marketing effort, as
necessary.
