Communicating customer value: integrated marketing communications strategy - Setting the Total Promotion Budget and Mix
7 important questions on Communicating customer value: integrated marketing communications strategy - Setting the Total Promotion Budget and Mix
Based up on the following methods, you can create your promotion budget. What's the difference?
- Affordable method
- Percentage of sales
- Competitive parity
- Objective & tasks
Percentage of sales - percentage of sales is for promotion budget. However, this way you don't take into account an increase in sales.
Competitive parity - promotion budget compared to competitors.
Objective & task - most effective method in which you base your budget on the objectives you want to achieve and the tasks you need to do in order to achieve this.
What's the difference between a push and pull promotion mix strategy? And how is this related to the B2B and B2C market?
With the pull strategy the producer directs its marketing activities to the final customer to induce them to engage with the company and buy the product. B2C
What is the affordable method when setting budgets?
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What is the competitive parity method?
What is the objective task method?
Of which 3 parts does the objective task method consist?
2. Determine tasks needed
3. Estimate task of performing this task
By which 2 main factors is the promotion mix shaped?
2. Strategies
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