Final answer:
The objective-and-task method of IMC budgeting requires the repetition of setting objectives, choosing media, and determining costs for each product or service. It involves defining goals, understanding the target audience, and selecting appropriate media channels to communicate a tailored message effectively.
Step-by-step explanation:
When using the objective-and-task method of IMC budgeting, for each product or service, the process that must be repeated is set objectives, choose media, and determine costs. This systematic approach requires marketers to define clear objectives, identify the necessary media channels to achieve these objectives, and then calculate the costs associated with these media choices. The goal is to align promotional activities with the predefined objectives and ensure that the required budget is adequate to cover all necessary tasks.
Define Your Goals and Objectives
Before setting a budget, it's essential to pinpoint what the campaign aims to achieve. These goals and objectives should be specific, measurable, attainable, relevant, and time-bound (SMART).
Define Your Audience
Understanding the target audience is critical. The campaign should identify demographic, psychographic, and behavioral characteristics of the target audience, which will guide the choice of media channels.
Determine Modes and Media
The selection of modes and media is based on where the audience consumes information. Whether it's traditional media like newspapers and television or new media like social platforms and podcasts, cost-effectiveness and reach are crucial.
Message Targeting
Message crafting should be tailored to resonate with the target audience, using concise and clear language that can be effectively communicated across selected media channels.
Now, applying this method in practice, companies should create a mockup or storyboard, identify various media, such as videos, podcasts, or websites, and create messages that address the target audience effectively, hence answering the three key questions: What problem is being addressed? Who is the intended audience? What mode or modes are being used?
Function of Product Advertising in Media
Product advertising in media functions to inform, persuade, and remind customers about the products or services, employing the chosen media to reach the audience effectively and achieve the set marketing goals.