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MARCOM Objective Setting and Budgeting

Last updated: August 20, 2008

Learning Objectives
1.	To understand the process of objective setting and the requirements for good objectives.
2.	To describe the hierarchy-of-effects model and its relevance for setting MARCOM objectives.
3.	To understand the importance of MARCOM budgeting and the primary methods used.

I. The Advertising Management Process

A. Advertising Strategy

 

B. Strategy Implementation

C. Assessing Effectiveness

II. What are the primary functions of advertising?

A. Informing:

 

B. Persuading

 

C. Reminding

D. Adding Value

E. Assisting Other Company Promotional Efforts: For example, advertising can be used to deliver coupons.

III. Setting advertising objectives

A. Keys to good objectives

 

 

B. Models

 

1. DAGMAR

 

 

2. Hierarchy-of-Effects Model: Goes beyond the sale/trial to work towards brand loyalty.

C. Example of setting communications objectives

IV. Budgeting for advertising

A. Objective and Task

B. Percentage-of-Sales

C. Competitive Parity

D. Affordability

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