What is integrated marketing communication?

Integrated marketing communication is a marketing approach that combines various elements such as creativity, colors, music, and messages to reach consumers effectively.

Why is setting suitable objectives important in marketing communication?

Setting suitable objectives in marketing communication helps identify the target audience, craft relevant messages, and create measurable goals for achieving desired changes and maximizing profit.

How can the effectiveness of marketing communication be measured?

The effectiveness of marketing communication can be measured by quantifying the level of awareness, persuasion, interest, and desire generated through feedback obtained from targeted individuals using various methods such as primary research and online interactions.

How do organizations determine their advertising budgets?

Organizations determine their advertising budgets by considering factors such as financial requirements, maximizing profit, and using methods like percentage of sales, objective and task, competitive parity, and affordability.

Why is budgeting important in marketing communication?

Budgeting is important in marketing communication as it helps allocate funds effectively, consider cost constraints, and ensure coherence and consistency throughout the campaign while maximizing profit for the given investment.

Marketing Communication: Objectives, Budgeting & Results

Name: Marketing Communication: Objectives, Budgeting & Results
Uploaded: 2023-09-01 10:41:09
Description: Setting clear objectives, measuring results, and considering budget constraints are crucial in marketing communication to achieve desired changes and maximize profit.

This article is a summary of a YouTube video "Lecture 17 : Objectives & Budgeting" by IIT Roorkee July 2018

TLDR Setting clear objectives, measuring results, and considering budget constraints are crucial in marketing communication to achieve desired changes and maximize profit.

Timestamped Summary

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00:00
Objectives in marketing communication involve identifying a target audience, crafting impactful messages, and setting measurable goals that consider timing, convenience, and customer needs.
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06:49
The level of awareness and interest in a product can be measured through feedback obtained from targeted individuals using various methods, and advertising goals must be defined and measured against results to achieve desired changes such as increased sales or brand awareness.
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11:26
Setting clear objectives, measurability criteria, and ensuring coherence and consistency in advertising campaigns is crucial, as well as considering budget constraints.
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14:35
Budgeting decisions involve allocating funds for advertising and promotions to maximize profit, using methods like percentage of sales, objective and task, competitive parity, and affordability, with organizations prioritizing initial revenue and viewership through heavy advertising during a specific period, especially for larger movies.
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18:34
Percentage-of-sales budgeting is commonly used to set advertising budgets based on past or anticipated sales, adjusting spending during different stages of the product life cycle.
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21:23
Objective and task budgeting is crucial for supporting events, boosting sales, and competing with rivals, while considering affordability and allocating funds after budgeting for essential expenses.
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25:40
Organizations need to consider budgeting and objectives when planning integrated marketing communication, taking into account the cost and feasibility of different advertising modes.
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28:58
Spending more money on advertising modes can potentially produce a desired effect, while reducing modes may render the exercise meaningless.

Q&A

What is integrated marketing communication?

— Integrated marketing communication is a marketing approach that combines various elements such as creativity, colors, music, and messages to reach consumers effectively.
Why is setting suitable objectives important in marketing communication?

— Setting suitable objectives in marketing communication helps identify the target audience, craft relevant messages, and create measurable goals for achieving desired changes and maximizing profit.
How can the effectiveness of marketing communication be measured?

— The effectiveness of marketing communication can be measured by quantifying the level of awareness, persuasion, interest, and desire generated through feedback obtained from targeted individuals using various methods such as primary research and online interactions.
How do organizations determine their advertising budgets?

— Organizations determine their advertising budgets by considering factors such as financial requirements, maximizing profit, and using methods like percentage of sales, objective and task, competitive parity, and affordability.
Why is budgeting important in marketing communication?

— Budgeting is important in marketing communication as it helps allocate funds effectively, consider cost constraints, and ensure coherence and consistency throughout the campaign while maximizing profit for the given investment.