Value of Objectives

Objectives

Focus & Coordination Plans & Decisions Measurement & Control

Establishing Objectives and Budgeting for the Promotional Program
© 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

© 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

Characteristics of Objectives

Marketing Versus Communications Objectives
Marketing Objectives
• Generally stated in the firm’s marketing plan • Achieved through the overall marketing plan • Quantifiable, such as sales, market share, ROI • To be accomplished in a given period of time • Must be realistic and attainable to be effective

Attainable

Communications Objectives
• Derived from the overall marketing plan • More narrow than marketing objectives • Based on particular communications tasks • Designed to deliver appropriate messages • Focused on a specific target audience

Realistic Objectives

Measurable

Vs.

Not Mutually Exclusive

Specific

© 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

© 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

Many Different Factors Affect Sales

Test Your Knowledge
Which of the following statements about communications objectives is true? A) It is easy to translate sales goals into communications objectives. B) It can be difficult to determine the relationship between communications objectives and sales performance. C) Communications objectives cannot serve as operational guidelines to the planning, execution, and evaluation of the promotional program. D) Marketing managers do not recognize the value of setting communications objectives.

$ALE$

Advertising and promotion

Competition

Product quality

Distribution

Technology

Price

The economy

© 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

© 2007 McGraw-Hill Companies, Inc., McGraw-Hill/Irwin

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