Question

Which of the following are methods of setting a budget for promotion?

-competitive parity
-target audience
-all you can afford
-objective and task

Answer 1

Competitive parity, target audience, and objective and task are methods of setting a budget for promotion.

Step-by-step explanation:

There are several methods of setting a budget for promotion:

• Competitive parity: This method involves setting the promotion budget based on what your competitors are spending. It ensures that your promotional efforts are on par with your competitors.
• Target audience: This method involves identifying your target audience and allocating the promotion budget specifically to reach them. It ensures that your promotion is focused and effective.
• Objective and task: This method involves setting the promotion budget based on the specific objectives and tasks you want to achieve. It allows you to allocate funds according to the specific goals of your promotion.