24210 Chapter Notes - Chapter 7: Brand Awareness, Personal Selling, Normative Social Influence
Document Summary
Chapter 7: establishing objectives and budgeting for the promotional. Objectives and budgeting: objectives marketing and communication, budgeting various methods including objective and task method of budgeting. The value of objectives: communications, planning and decision making, measurement and evaluation. Marketing vs communications objectives: marketing objectives, ge(cid:374)erally stated i(cid:374) the fir(cid:373)(cid:859)s (cid:373)arketi(cid:374)g pla(cid:374, quantifiable, such as sales, market share, profit, communications objectives, derived from the overall marketing plan, based on particular communications tasks. Increase in price how does advertising support an increase in price: creates the perception of a (cid:858)(cid:374)a(cid:373)e(cid:859) (cid:271)ra(cid:374)d, reducing costs, advertising can increase sales and therefore your fixed costs can be spread over more units. Economies of scale: personal selling advertise in a trade publication. However, market share may fall if competitors enter the market quickly: declining markets: if sales are falling, it is expected that market share decreases. However, it can increase if competitors are leaving the market at a faster rate,
