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Marketing Mid Term

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1. Explain the use of SMART goals in a Marketing Communications Plan. Provide an example of a SMART goal.

The SMART concept is a test or filter which you can use to assess the quality of measures. When setting future objectives for marketing such as in a marketing plan it’s useful to look hard at each measure and ask

Specific – The goal is focusing on one precise area

Measurable – The progress of the goal can be quantified in some way

Attainable – The goal should be reachable for your level of skill

Realistic – The goal can reasonably be achieved given your resources

Time-Bound - There is a specific amount of time in which results should be achieved

2. Explain how Marketing Communications is different from Marketing. What is Integrated Marketing Communications?

Marketing is a broad organizational function that encompasses: price, product, place and promotion.

Marketing Communication is the way to explain these parts of marketing.

3. What are the three ways to determine a marketing communications budget? Explain each method.

The three different ways to determine a marketing communications budget: percentage-of-sales, competitive parity, and objective-and-task methods.

4. Explain the six steps in the Hierarchy of Effects Model.

The six steps are as follows:

Awareness

The customer becomes aware of the product through advertising. This is a challenging step, there is no guarantee that the customer will be aware of the product brand after they view the advert. Customers see many adverts each day but will only remember the brand of a tiny fraction of products.

Knowledge

The customer begins to gain knowledge about the product for example through the internet, retail advisors and product packaging. In

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