3 Explain the use of SMART goals in a Marketing Communicatio

3. Explain the use of SMART goals in a Marketing Communications Plan. Provide an example of a SMART goal.

4. Explain the difference between brand equity, brand awareness, and brand image. Choose one product and explain how each of the terms relate to that brand.

5. What are the three ways to determine a marketing communications budget? Explain each method.

6. List and explain the steps in the Brand Adoption Process.

7. Explain the four components to a SWOT analysis and provide an example of each.

8. Explain the reasons why a product might need to be re-positioned. Provide an example for each.

9. Explain the four main ways marketing communication professionals use to determine a target market.

10. Explain the six steps in the Hierarchy of Effects Model.

Solution

1) A SMART marketing approach can be used as the blueprint for creating efficient and marketing campaigns. SMART is an acronym that uses specific, measurable, achievable, realistic and timed objectives to outline a successful marketing approach. By examining examples of each aspect of the SMART marketing objectives, you can better understand how to incorporate them in your marketing plan.

2)Brand awareness refers to the extent of how well your brand is recalled by consumers. In contrast, brand equity is the added value which your brand possesses as a result of marketing activities, past and present. Where as Brand image refers to the existing image of the poduct or the service in the market with respect to the brand..All the 3 terms are important and are of great significance in the area of marketing.

3) There are 3 importantb ways with which you can determine the budgeting of marketing communications.Following are the methods: