Lecture 5: Objectives and Budgeting

Dean Audicho
Quiz by Dean Audicho, updated more than 1 year ago
Dean Audicho
Created by Dean Audicho over 3 years ago
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Description

Law Quiz on Lecture 5: Objectives and Budgeting, created by Dean Audicho on 10/13/2017.

Resource summary

Question 1

Question
[blank_start]Marketing objectives[blank_end] are generally stated in the firm’s marketing plan and are quantifiable, such as sales, market share, profit [blank_start]Communication objectives[blank_end] are Derived from the overall marketing plan and are based on particular communications tasks
Answer
  • Marketing objectives
  • Communication Objectives
  • Communication objectives
  • Marketing objectives

Question 2

Question
[blank_start]Communications[blank_end] Objectives facilitate coordination of the various groups [blank_start]Planning and decision making[blank_end] objectives guide decision making and development of the IMC plan [blank_start]Measurement and evaluation of results[blank_end] objectives provide a benchmark to measure success or failure
Answer
  • Communications
  • Planning and decision making
  • Measurement and evaluation of results
  • Planning and decision making
  • Communications
  • Measurement and evaluation of results
  • Planning and decision making

Question 3

Question
A SMARTT approach to creating objectives ensure that they are: Specific, measurable, maintainable, achievable, realistic, time-depending & targeting
Answer
  • True
  • False

Question 4

Question
Sales Oriented Objectives;
Answer
  • Aim to increase sales
  • Increase brand awareness through social media advertising
  • Require economic justification
  • Required to product quantifiable results
  • Are based on the achievement of sales results

Question 5

Question
Factors which influence [blank_start]sales[blank_end] include; competition, technology, economy, product quality, price, distribution, advertising & promotion.
Answer
  • sales
  • public relations
  • company reputation

Question 6

Question
Common problems with sales objectives include;
Answer
  • Successful implementation requires all marketing elements to work together
  • Obstacles in gaining government approval
  • Advertising has carryover effect: Monies spent on advertising do not have immediate impact on sales
  • Difficult to determine precise relationship between advertising and sales
  • Do not offer much guidance for planning and developing promotional program

Question 7

Question
Examples of communication objectives include:
Answer
  • Provide relevant information
  • Sales goals for the year
  • Create favourable predispositions toward the brand
  • Models wherein consumers pass through 3 stages: Cognitive, affective and behavioural

Question 8

Question
One problem with Communications Objectives includes translating sales goals into communications objectives i.e. promotional planners have difficulty estimating what constitutes adequate levels of awareness, knowledge, liking, preference, conviction.
Answer
  • True
  • False

Question 9

Question
DAGMAR stands for
Answer
  • D = Defining
  • A in both instances = Agency
  • A in both instances = Advertising
  • G = Goals
  • G = Generic
  • M = Measured
  • M = Manipulable
  • R = Results
  • R = Rectify

Question 10

Question
DAGMAR provides that communications effects are the logical basis for advertising goals and objectives to measure success or failure
Answer
  • True
  • False

Question 11

Question
A 'top-down' approach to establishing a promotional budget is when;
Answer
  • Managements sets a spending limit > Promotion budget is then set to stay within the Limit
  • Promotion budget is then set to stay within the Limit > Managements sets a spending limit

Question 12

Question
A 'bottom-up' approach to establishing a promotional budget is when;
Answer
  • Objectives are set > Activities to achieve the objectives are planned > Management either approves or rejects the budget > Costs of promotion activities are budgeted
  • Objectives are set > Activities to achieve the objectives are planned > Costs of promotion activities are budgeted > Management either approves or rejects the budget
  • Costs of promotion activities are budgeted > Management either approves or rejects the budget > Objectives are set > Activities to achieve the objectives are planned

Question 13

Question
[blank_start]Problem removal[blank_end] – Buyer experiences CURRENT problem; seeks a product that will SOLVE the problem [blank_start]Problem avoidance[blank_end] – Buyer anticipates a FUTURE problem; seeks a product that will PREVENT the problem [blank_start]Incomplete satisfaction[blank_end] – Buyer is not satisfied with current product; searches for a BETTER product [blank_start]Mixed approach-avoidance[blank_end] – Buyer likes some things about the product but dislikes others; tries to find a product that will RESOLVE the conflict [blank_start]Normal Depletion[blank_end] – Buyer is simply out of stock or running low; seeks to MAINTAIN regular supply of product
Answer
  • Problem removal
  • Problem avoidance
  • Incomplete satisfaction
  • Mixed approach-avoidance
  • Normal Depletion

Question 14

Question
[blank_start]Sensory gratification[blank_end] – Buyer seeks extra physiological stimulation; to ENJOY product [blank_start]Intellectual Stimulation[blank_end] – Buyer seeks extra psychological stimulation; to EXPLORE or MASTER new product [blank_start]Social Approval[blank_end] – Buyer sees opportunity for social rewards; PERSONAL RECOGNITION through use of product
Answer
  • Sensory gratification
  • Stimuli
  • Intellectual Stimulation
  • Social Approval
  • Social Availability

Question 15

Question
According to Rossiter and Percy, VisCap stands for; Visibility, Credibility (Expertise/Objectivity), Attraction (Likability/similarity), Power
Answer
  • True
  • False

Question 16

Question
Which of these is the correct order for the traditional advertising-based view of marketing communications;
Answer
  • Attitudes > Knowledge > Preference > Conviction > Purchase Behaviour
  • Knowledge > Conviction > Attitudes > Preference > Purchase Behaviour
  • Preference > Purchase Behaviour > Attitudes > Conviction > Knowledge

Question 17

Question
[blank_start]Zero-based[blank_end] communications planning involves determining: what tasks need to be done and which marketing communications functions should be used and to what extent (Focuses on the task to be done and searches for the best ideas and media to accomplish)
Answer
  • Zero-based
  • Unlimited
  • Strategy-oriented

Question 18

Question
Which of the following fits the description for titles 1, 2, 3 and 4;
Answer
  • 1 - Manipulate
  • 1- Monitor
  • 2 - Respond
  • 2 - Rectify
  • 3 - Apply
  • 3 - Amplify
  • 4 - Learn
  • 4 - Lead

Question 19

Question
What is the name of this theoretical issue in budget setting (sales response model);
Answer
  • Bell-curve depression
  • Concave-Downward Response curve
  • Incremental Increase curve
  • Curved sales expenditure

Question 20

Question
What is the name of this theoretical issue in budget setting - (sales response model);
Answer
  • Incremental Curve in Sales
  • S-Shaped Response function
  • Fluctuating sales expense curve
  • Sales and expense life cycle

Question 21

Question
What are the benefits of a 'top-down' budgeting approach;
Answer
  • Affordable
  • Arbitrary
  • High employee discretion and choice
  • Focuses on percentage of sales/expenses (ROI)

Question 22

Question
A 'bottom-up' budgeting approach is objective driven rather than being financially driven.
Answer
  • True
  • False
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