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MANA 298 (46)
Lecture

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Department
Management
Course
MANA 298
Professor
Fred Mc Gregor
Semester
Fall

Description
competitive parity. competitive parity means matching the competitor’s level of spending either in an absolute way or as a relative percentage based on market share.  advantages are that spending on promotion matches the competition; that new companies often don’t know what to spend and may use the competition as a guide.  disadvantages are that one must assume the competition knows more about the business itself; that the objectives of the companies may differ; and that the financial strengths of the companies may differ. 3. all you can afford. this form of budgeting allows a promotion budget only after (or if) all other expenses are covered.  advantages are only that is simple and fiscally conservative.  disadvantages are that a company which uses this approach obviously does not know the relationship between it promotional effort and its objectives. 4. objective and task.. this is the best approach. it requires the company to (1) determine its promotion objectives, (2) outline the tasks to accomplish the objectives, and (3) determine the costs of performing the tasks.  advantages include tying the expenditure to reaching objectives, forcing personnel to clearly consider the objectives, forcing prioritization if budgets are finite.  disadvantages are that this method requires experience and judgement, it is expensive of time and people, and it may require extensive reworking in the face of limited budgets. . selecting the right promotional tools the combination of the five basic imc tools—adv
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