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Objectives, Budgeting, and Advertising Management

Learn how to set Marcom objectives, budget effectively, and manage advertising to achieve defined outcomes. Understand various budgeting methods and advertising functions to enhance brand value. Explore the advertising management process, from setting objectives to assessing effectiveness.

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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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