Re_formulating objectives: after the close examination of data gathered in the previous stage, sometimes it is needed to re_formulate the initial objectives, in order to address all the issues that might have come up from the previous stage. The distance between the initial objective and the re_formulated objective will be covered by appropriate strategies. We must ensure the re_formulated objective is SMART as well.
Plan of actions: consists in a very detailed description of the procedures and means to implement the actions we want to take. For example, if the strategy implies a raise in advertising volume, the plan of actions should establish where the advertisements will be placed, the dates and frequency of the advertising campaigns, a set of procedures to evaluate their effectiveness. The actions we plan to take must be clearly formulated, measurable, and the results must be monitored and evaluated.