Specific objectives
Since its inception, Target has aimed at providing its consumers with the greatest sales experience possible. Marketing objectives are beneficial to the business as they help in capitalizing on the opportunities that the company can realize. Marketing objectives are the tactics set to realize the total business objectives (Chaffey & Ellis-Chadwick, 2019). For Target Kids to grow and achieve Target's mission statement and goals, there are specific objectives that it must accomplish. Firms need to have SMART objectives that are are not only specific and measurable but also achievable, relevant, and time-bound (Chaffey & Ellis-Chadwick, 2019). The following are Target's specific objectives
Target will have advertisements on social media and run TV commercials two weeks before the application is launched to make people aware of its new platform (Target Kids Application).
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Target will partner with numerous social media influencers with a following of 100,000 or more to have them talks about the application on their social platforms, thus increase people's awareness of its existence.
Target will partner with numerous social media influencers to have paid promotions that will sensitize the consumers on the application during the holiday season once the application is developed.
Target will also partner with YouTube influencers during the Holiday season after the application has been launched to make them promote their merchandise through unboxing videos where they will also give reviews on the products to increase chances of getting new customers
Target will also focus on 30 seconds paid advertisement on YouTube and one-minute TV commercials that will air regularly when it is launched showcasing what Target Kids offers to make people aware of its existence and thus increase its consumers.
Target will also offer its users who buy via the Target Kids app using a Target RedCard 6 months to a year of 0% APR to increase the chances of getting more consumers.
Target will be easy-to-use applications where it will have fewer checkout windows, a reduced number of progress indicators, and multiple secure payment methods, which will all work to increase its acceptance among the consumers.
Allocate resources
Resource allocation deals with allocating and management of assets in a way that supports and helps the realization of the firm's strategic objectives (Eyers & Naim, 2019). Firms need to establish their desired end goal before they can begin allocating resources (Eyers & Naim, 2019). As such, Target Kids' end goal is to attract customers to buy goods via the application after it is launched. For Target Kids to achieve both its objectives and that of its parent company, the following resources must be made available:
The firm should look for the right personnel who will help them in achieving their objectives. A project manager will be selected to run the project for developing the app with a team of five top-notch developers who will see to it that the application is developed and meets all the specifications provided to them. After the application is developed, Target Kids will also need to outsource App promoters from social media platforms, which will help in making people aware of its existence. A marketing team will also be used to help in sensitizing the public of the application.
Target will also have to allocate money that will facilitate the development, marketing, and launch of the application. Target will require about $200,000 for app development. They will also have to pay for promotions and the launching of the application, which will cost about $300,000, where TV commercials will cost about $150,000, advertisements will cost $100,000, and social media promotions will cost 50,000.
Target will allocate time for research, planning, app development, and testing. The whole process of app development and testing will last for 16 weeks to ensure the application has met all its requirements and specifications and is fully functional. It will then take two weeks to promote the application though advertisements and television commercials before its launch to the market.
References
Chaffey, D., & Ellis-Chadwick, F. (2019). Digital marketing. Pearson UK.
Eyers, D., & Naim, M. (2019). Project Management for Effective Operations Management. In Contemporary Operations and Logistics (pp. 11-27). Palgrave Macmillan, Cham.
