MKTG_2202_-_Lec_7_-_Ch_5_Objectives

Marketing Objectives

Generally stated in the firm's marketing plan, quantifiable, and aimed to be accomplished in a given time frame.

Communication Objectives

Statements of what the communications will achieve, defined at various levels including overall IMC plan and individual tools.

DAGMAR Approach

A method for setting advertising goals and measuring advertising results based on communication effects.

Sales Objectives

Quantifiable goals focused on the sales aspect of the marketing plan, influenced by various marketing mix variables.

Behavioural Objectives

Link between brand attitude and sales; these objectives must be clear for each target audience.

Hierarchy of Effects Model

A model that outlines the stages a consumer goes through from awareness to purchase, used to measure communication effectiveness.

Target Audience

The specific group of consumers that an IMC plan aims to reach with targeted messaging.

Market Share

The percentage of an industry or market's total sales that is earned by a specific company over a specified time period.

Brand Loyalty

A consumer's commitment to repurchase or continue using a brand.

Awareness Stage

The first stage in the communication response model, where consumers become aware of a brand.

Evaluation of Results

The process of measuring and assessing the effectiveness of marketing communications against the objectives set.

Concrete, Measurable Tasks

Specific actions defined in objectives that can be quantitatively assessed for effectiveness.

Trial Purchase

Encouraging consumers to initially buy a product, which is a key goal for behavioural objectives.

Return on Investment (ROI)

A performance measure used to evaluate the efficiency or profitability of an investment.

Call to Action

A prompt that encourages consumers to take a specific action in response to marketing communications.