LSM Objectives, Targets and Strategies

Once an LSM idea has been branded feasible, it's time to zone in on the objective, target market and strategy to accomplish the plan. The lsm objective refers to how the plan should affect your business. That is, the objective could be to increase sales, increase visibility, increase profits, etc. Objectives should increase something about your market sales, so set the objective and make it tangible. It should be something uniform that can also be measured.

Next is the target market. Who, in particular, are you focusing this plan towards? Targeting the market group will help you in defining the overall strategy. The objective is clear - the target should include those partner's customers that you want to hit with the promotion

Next is the strategy - here is where your price points and promotional items come into play. Brainstorm about what you want to offer them using your Price Point analysis and then consider the 'value' expected by the customer based upon the target market you chose, and from there, allocate and forecast your expected return or 'forecasted generated sales!

When all is said and done, you can achieve your results as long as you follow your forecasted promotional item and make sure your crew is aware of the plan. The greatest way to achieve expected results is to make it happen, either from promotion items, flyers, suggested selling, etc, but the key is to "push" the plan on those folks so that you forecast meets actual results.