| Question | Answer |
| What is the importance and value of setting specific objectives for advertising? | They serve in communications, planning and decision making, and measurement and evaluation.
1. Communication
2. Planning and Decision making
3. Measurement and evaluation of results |
| What is the role objectives play in the IMC planning process? What is the relationship of promotional and marketing objectives? | Good Marketing Objectives: Quantifiable, Realistic, and attainable.
Promotional Objectives must work in unison with the M.O for the entire marketing program. They need to execute properly the Marketing Mix( Product, Price, Place, Promotion). |
| What is the difference between sales and communication objectives? | Sales Objectives: focus on what the promotional program brings in terms of $$.
Communication Objectives: Focus on bringing the message to the client /potential customer. |
| What are some problems marketers encounter in setting objectives for their IMC? | 1. Fail to set specific goals for their campaigns
2. No evidence of success
3. No way of measuring the success
4. No way of finding if a "successful" campaign was really successful. |
| How do you budget for IMC? | First you need to establish a budget, then you need to allocate the budget. |
| What are some theoretical issues involved in budget setting? | Can be categorized as taking an economic or a sales response perspective. |
| What are various methods of budget setting? | Top-Down Approach: "The Affordable Method", "The Arbitrary Allocation", "Percentage of Scales", "Competitive Parity Method", "ROI budgeting Method"
Build-Up Approach: "Objective and Task Method", "Payout Planning", "Computer Stimulation Models" |
