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Objectives, Budgeting, and Advertising Management

Chapters Six and Nine. Objectives, Budgeting, and Advertising Management. Review: Chapter 1. All marketing communications should be:. 2. Setting Marcom Objectives. Expression of management consensus Guides the budgeting, message, and media aspects of advertising strategy

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Objectives, Budgeting, and Advertising Management

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  1. Chapters Six and Nine Objectives, Budgeting, and Advertising Management

  2. Review: Chapter 1 All marketing communications should be: 2

  3. Setting Marcom Objectives • Expression of management consensus • Guides the budgeting, message, and media aspects of advertising strategy • Provide standards against which results can be measured 3

  4. Budgeting Considerations in Practice • What is the Ad objective? • How much are competitors spending? • How much money is available?

  5. Budgeting Methods • Percent-of-Sales Budgeting • Objective-and-Task Method • Competitive Parity Method (match competitors method) • Affordability Method

  6. Percentage-of-Sales Budgeting • A company sets a brand’s advertising budget by simply establishing the budget as a fixed percentage of past or anticipated sales volume • Criticized as being illogical Why?

  7. Objective-and-Task Method • The most sensible and defensible advertising budgeting method • Specify:

  8. The Competitive Parity Method • Sets the ad budget by basically following what competitors are doing

  9. Affordability Method • Only the funds that remain after budgeting for everything else are spent on advertising • Who does this?

  10. Advertising Functions Informing Influencing Reminding Adding Value Assisting Other Company Efforts 10

  11. Advertising Functions Informing

  12. Informing Quaker Oats Target

  13. Advertising Functions Influencing • Influences customers to try advertised products and services • Primary demand- • Secondary demand-

  14. Influencing Gillette MACH3 Target:

  15. Advertising Functions Reminding • Keeps a company’s brand fresh in the consumer’s memory • Influences brand switching by:

  16. Advertising Objectives Kellogg’s Special K Target

  17. Advertising Functions Adding Value • Three basic ways by which companies can add value: • Advertising adds value to brands by:

  18. Advertising Functions Assisting Other Company Efforts • Advertising is just one member of the marketing communications team • Sometimes, an assister that facilitates other company efforts in the marketing communications process • Examples?

  19. The Advertising Management Process • Advertising Strategy • Setting Objectives • Formulating Budgets • Creating Ad messages • Selecting Ad Media and Vehicles Strategy Implementation Assessing Ad Effectiveness 19

  20. Research Workshop:February 17 Conducting Consumer Research • Secondary research: Plenty of resources online • Library Resources Link on website: Dr.Song, BEL • Primary research: Planning ahead • Focus groups, surveys, observations • Plan your questions ahead in detail • Select sample(s) carefully (target audience) • Sensitivity, confidentiality, ethics

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