The reason why objective-and-task method of setting an IMC budget is better than the rule-of-thumb methods. Introduction: The communication process is an integrated effort made by the marketers to make the target audience aware of a particular product or service in the market. It uses a variety of communication tools, which involves personal selling, online marketing, sales promotion, public relations, direct marketing, and advertisements. It helps in creating clarity and maximum communicative impact on the target audience.

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Answer 1

Question

Chapter 17.5, Problem 1PC

Summary Introduction

To explain: The reason why objective-and-task method of setting an IMC budget is better than the rule-of-thumb methods.

Introduction: The communication process is an integrated effort made by the marketers to make the target audience aware of a particular product or service in the market. It uses a variety of communication tools, which involves personal selling, online marketing, sales promotion, public relations, direct marketing, and advertisements. It helps in creating clarity and maximum communicative impact on the target audience.

Expert Solution & Answer

Explanation of Solution

The objective-and-task method guesses the required budget to accomplish the responsibilities for the purpose of communication objectives. This message first requires framing a set of communication objectives, and identifying the type of media with maximum reach to the target market. It also investigates the cost incurred in running the types of communications essential to attain the goals.

However, the process of setting objectives, choosing media, and determining costs are to be repeated for each product or service. The total marketing communications budget of the firm is the addition of all the communication plan budgets of an individual.

On the other hand, rule-of-thumb methods like competitive parity, the percentage of sales, and available budget do not allow the firms to exploit the opportunities and problems encountered in the market. In case the competitor is using the same budgeting method, then the market shares will remain approximately the same. It does not take into consideration new plans or product line. It also assumes that the expenses incurred for the communication do not stimulate sales and profit.

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Does the new procedure for the budget help or hinder the achievement of Sustainable Development Goals (SDG)?

Answer 2

Question

Chapter 17.5, Problem 1PC

Summary Introduction

To explain: The reason why objective-and-task method of setting an IMC budget is better than the rule-of-thumb methods.

Introduction: The communication process is an integrated effort made by the marketers to make the target audience aware of a particular product or service in the market. It uses a variety of communication tools, which involves personal selling, online marketing, sales promotion, public relations, direct marketing, and advertisements. It helps in creating clarity and maximum communicative impact on the target audience.

Expert Solution & Answer

Explanation of Solution

The objective-and-task method guesses the required budget to accomplish the responsibilities for the purpose of communication objectives. This message first requires framing a set of communication objectives, and identifying the type of media with maximum reach to the target market. It also investigates the cost incurred in running the types of communications essential to attain the goals.

However, the process of setting objectives, choosing media, and determining costs are to be repeated for each product or service. The total marketing communications budget of the firm is the addition of all the communication plan budgets of an individual.

On the other hand, rule-of-thumb methods like competitive parity, the percentage of sales, and available budget do not allow the firms to exploit the opportunities and problems encountered in the market. In case the competitor is using the same budgeting method, then the market shares will remain approximately the same. It does not take into consideration new plans or product line. It also assumes that the expenses incurred for the communication do not stimulate sales and profit.

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Answer 3

Question

Chapter 17.5, Problem 1PC

Summary Introduction

To explain: The reason why objective-and-task method of setting an IMC budget is better than the rule-of-thumb methods.

Introduction: The communication process is an integrated effort made by the marketers to make the target audience aware of a particular product or service in the market. It uses a variety of communication tools, which involves personal selling, online marketing, sales promotion, public relations, direct marketing, and advertisements. It helps in creating clarity and maximum communicative impact on the target audience.

Expert Solution & Answer

Explanation of Solution

The objective-and-task method guesses the required budget to accomplish the responsibilities for the purpose of communication objectives. This message first requires framing a set of communication objectives, and identifying the type of media with maximum reach to the target market. It also investigates the cost incurred in running the types of communications essential to attain the goals.

However, the process of setting objectives, choosing media, and determining costs are to be repeated for each product or service. The total marketing communications budget of the firm is the addition of all the communication plan budgets of an individual.

On the other hand, rule-of-thumb methods like competitive parity, the percentage of sales, and available budget do not allow the firms to exploit the opportunities and problems encountered in the market. In case the competitor is using the same budgeting method, then the market shares will remain approximately the same. It does not take into consideration new plans or product line. It also assumes that the expenses incurred for the communication do not stimulate sales and profit.

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Answer 4

Question

Chapter 17.5, Problem 1PC

Summary Introduction

To explain: The reason why objective-and-task method of setting an IMC budget is better than the rule-of-thumb methods.

Introduction: The communication process is an integrated effort made by the marketers to make the target audience aware of a particular product or service in the market. It uses a variety of communication tools, which involves personal selling, online marketing, sales promotion, public relations, direct marketing, and advertisements. It helps in creating clarity and maximum communicative impact on the target audience.

Expert Solution & Answer

Explanation of Solution

The objective-and-task method guesses the required budget to accomplish the responsibilities for the purpose of communication objectives. This message first requires framing a set of communication objectives, and identifying the type of media with maximum reach to the target market. It also investigates the cost incurred in running the types of communications essential to attain the goals.

However, the process of setting objectives, choosing media, and determining costs are to be repeated for each product or service. The total marketing communications budget of the firm is the addition of all the communication plan budgets of an individual.

On the other hand, rule-of-thumb methods like competitive parity, the percentage of sales, and available budget do not allow the firms to exploit the opportunities and problems encountered in the market. In case the competitor is using the same budgeting method, then the market shares will remain approximately the same. It does not take into consideration new plans or product line. It also assumes that the expenses incurred for the communication do not stimulate sales and profit.

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Answer 5

Chapter 17.5, Problem 1PC

Summary Introduction

To explain: The reason why objective-and-task method of setting an IMC budget is better than the rule-of-thumb methods.

Introduction: The communication process is an integrated effort made by the marketers to make the target audience aware of a particular product or service in the market. It uses a variety of communication tools, which involves personal selling, online marketing, sales promotion, public relations, direct marketing, and advertisements. It helps in creating clarity and maximum communicative impact on the target audience.

Expert Solution & Answer

Explanation of Solution

The objective-and-task method guesses the required budget to accomplish the responsibilities for the purpose of communication objectives. This message first requires framing a set of communication objectives, and identifying the type of media with maximum reach to the target market. It also investigates the cost incurred in running the types of communications essential to attain the goals.

However, the process of setting objectives, choosing media, and determining costs are to be repeated for each product or service. The total marketing communications budget of the firm is the addition of all the communication plan budgets of an individual.

On the other hand, rule-of-thumb methods like competitive parity, the percentage of sales, and available budget do not allow the firms to exploit the opportunities and problems encountered in the market. In case the competitor is using the same budgeting method, then the market shares will remain approximately the same. It does not take into consideration new plans or product line. It also assumes that the expenses incurred for the communication do not stimulate sales and profit.

Answer 6

Chapter 17.5, Problem 1PC

Summary Introduction

To explain: The reason why objective-and-task method of setting an IMC budget is better than the rule-of-thumb methods.

Introduction: The communication process is an integrated effort made by the marketers to make the target audience aware of a particular product or service in the market. It uses a variety of communication tools, which involves personal selling, online marketing, sales promotion, public relations, direct marketing, and advertisements. It helps in creating clarity and maximum communicative impact on the target audience.

Expert Solution & Answer

Explanation of Solution

The objective-and-task method guesses the required budget to accomplish the responsibilities for the purpose of communication objectives. This message first requires framing a set of communication objectives, and identifying the type of media with maximum reach to the target market. It also investigates the cost incurred in running the types of communications essential to attain the goals.

However, the process of setting objectives, choosing media, and determining costs are to be repeated for each product or service. The total marketing communications budget of the firm is the addition of all the communication plan budgets of an individual.

On the other hand, rule-of-thumb methods like competitive parity, the percentage of sales, and available budget do not allow the firms to exploit the opportunities and problems encountered in the market. In case the competitor is using the same budgeting method, then the market shares will remain approximately the same. It does not take into consideration new plans or product line. It also assumes that the expenses incurred for the communication do not stimulate sales and profit.

Answer 7

Chapter 17.5, Problem 1PC

Summary Introduction

To explain: The reason why objective-and-task method of setting an IMC budget is better than the rule-of-thumb methods.

Introduction: The communication process is an integrated effort made by the marketers to make the target audience aware of a particular product or service in the market. It uses a variety of communication tools, which involves personal selling, online marketing, sales promotion, public relations, direct marketing, and advertisements. It helps in creating clarity and maximum communicative impact on the target audience.

Answer 8

Expert Solution & Answer

Explanation of Solution

The objective-and-task method guesses the required budget to accomplish the responsibilities for the purpose of communication objectives. This message first requires framing a set of communication objectives, and identifying the type of media with maximum reach to the target market. It also investigates the cost incurred in running the types of communications essential to attain the goals.

However, the process of setting objectives, choosing media, and determining costs are to be repeated for each product or service. The total marketing communications budget of the firm is the addition of all the communication plan budgets of an individual.

On the other hand, rule-of-thumb methods like competitive parity, the percentage of sales, and available budget do not allow the firms to exploit the opportunities and problems encountered in the market. In case the competitor is using the same budgeting method, then the market shares will remain approximately the same. It does not take into consideration new plans or product line. It also assumes that the expenses incurred for the communication do not stimulate sales and profit.

Answer 9

Expert Solution & Answer

Answer 10

Expert Solution & Answer

Answer 11

Ch. 17.2 - Prob. 1PC Ch. 17.2 - Prob. 2PC Ch. 17.3 - Prob. 1PC Ch. 17.5 - Prob. 1PC Ch. 17.5 - Prob. 2PC Ch. 17.5 - Prob. 3PC

Explanation of Solution

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Chapter 17 Solutions