Step 2 – Define Goals

Brainstorm with your team to consider what macro level goals will need to be met for this marketing strategy in order to create value for customers, the organization, and society. As the reading material states, generate a lot of ideas (8 or more) and then use the decision matrix to determine the best goals for the strategy (see below). Use reading and video resources to ensure the goals are future-focused, science-based, and aggressive but attainable.

Goal Defining Matrix

Building on the process you used last week, develop a new decision matrix (see below) that evaluates different goal ideas from your team against value creation for the three major stakeholders. Identify criteria you might use to assess the value potential of different goal options, NOT the criteria or KPI’s for each goal. It is most effective to have between 3-5 final goals so that people across the organization can remember them and stay focused on achieving them.

Goal Decision Matrix

Step 3 – Set success measures or KPI’s for each goal

Once you have developed your top 3-5 goals, define KPI’s or measures that will tell you what achieving that goal means in a quantitative or measurable way. Use reading and video assignment materials to ensure the success measures can be gathered and they accurately reflect progress in achieving the goal. You may want to build another decision matrix (but this is not required) to assess the relative merits of success measures against the defined goals.

Step 4 – Defend Your Decisions

The team will compile your analysis in a summary paper that describes your decision-making process in defining and selecting valid and relevant goals for the marketing strategy to deliver and create value. It will also explain how success measures with show progress in achieving the goals.

The paper will include:

• Completed goal decision matrix
• (Optional) completed success measure decision matrix
• Summary description of the process the team followed in developing the marketing strategy goals.
• List and explanation of final marketing strategy goals and rationale for their selection that incorporates relevant references to reading and course resources.
• Summary description of success measures for each goal and explanation of how those measures will represent progress or completion of the stated goals.

The paper should represent the collaborative efforts of all team members and clearly describe how achieving the goals and success measures will create sustained value for business, customers and society. The paper should be no longer than 4 pages, excluding and matrices.