Instructions:

$1.$ Identify the Marketing Objective:

$$ Assume you are launching a new product$/$service$.$ If you have already engaged in a project$/$work$,$ you can use it to do this assignment.

$$ Define the marketing objective for this product launch. It could be either customer acquisition $($e$.$g$.,$ increasing brand awareness and driving up sales$),$ and$/$or improving customer retention $($e$.$g$.$ increasing loyalty$).$

$2.$ Identify Relevant Metrics and Develop KPIs and Define KPIs:

$$ Based on the marketing objectives you$$ve identified, define KPIs that would help measure the success of campaigns.

$$ A good KPI is specific, measurable, achievable, relevant, and time$-$bound $($SMART$).$

$$ As part of this step, you will identify relevant metrics to measure the performance of campaigns.

$$ Think about three KPIs and develop SMART for each KPI.

$3.$ Data Collection: Discuss what data would be needed to measure these KPIs and how you would collect this data. Consider both quantitative $($e$.$g$.,$ sales data, website traffic$)$ and qualitative data $($e$.$g$.,$ customer surveys$).$

$4.$ Analysis and Interpretation: Describe how you would analyze the data collected and interpret the results. How would you know if the KPIs are being met? Which information will be used for benchmark?