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Chapter 7 BA 362

Marketing Communications

QuestionAnswer
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"
Created by: merli1106
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