2.5 Campaign Budget
One of the most difficult decisions is determining how much to spend on marketing communications.
- Industries and companies vary considerably in how much they spend on marketing communications. Expenditures vary from as high as 45 percent of sales in the cosmetics industry and as low 5 percent in the industrial-equipment industry. Within a given industry, there are low- and high-spending companies.
- You need to develop your Campaign Budget using at least one of the four budgeting methods discussed in the lecture series and textbook. These include: the objective-and-task method, the percentage-of- sales method, the competitive-parity method and the affordability method. (Chitty et al. 2015)
- Note: I do not want to see budgets based on the affordability method alone.
2.6 Brand Personality / Character
- A description of the personality and character your brand should consistently portray.
- People have relationships with brands just as they do with That’s why marketers define the brand personality carefully. Some brands have subtle, and often unconscious, relationships with customers. A brand’s personality has those human personality traits. What kind of person would the brand be if it were human? Think of brands as actual people. How would the brand talk, dress and walk? What kind of clothes would it wear? What kind of car would it drive? What kind of parties would it go to?
- “Far exceeding a brand’s distinctive characteristics, or even its performance, is its ability to assume a unique personality. Quite often, consumers develop ongoing relationships with brands just as they would with a person, drawn in by perceived traits such as intelligence, creativity, wit, or perhaps even The term anthropomorphism, which refers to the attribution of human characteristics to an object, is a powerful way for advertisers to endear brands to consumers. Brands become living, breathing entities, able to court their own users and manage their interactions. Friend, Assistant, Teacher, Partner, Consumers seek out brands that complement their own qualities and lifestyles. They can even align themselves with brands that speak to their aspirations”. (Donald E Parente 2015)