Why Do We Need to Have IMC Budgets? Who Makes

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The Answer is Integrated Marketing Communication (IMC) budgets are necessary to ensure that a company's promotional efforts are effectively planned, executed, and monitored. These budgets help allocate resources for advertising, public relations, sales promotions, and other communication activities in a coordinated and strategic manner. By having a dedicated budget for IMC, companies can better control their marketing expenses, track the return on investment, and ensure that their messaging is consistent across all channels.

The decision to allocate funds for IMC budgets is typically made by the marketing department in collaboration with senior management. This decision is based on the company's overall marketing objectives, target audience, competitive landscape, and available resources. The marketing team is responsible for developing a comprehensive IMC plan and determining the budget needed to support it.

The source of these funds can vary depending on the company's financial structure and priorities. IMC budgets may come from the overall marketing budget, which is often a percentage of the company's revenue. In some cases, companies may allocate specific funds for IMC from their overall advertising and promotional budget. Additionally, some companies may seek external financing or partnerships to support their IMC efforts, especially for larger campaigns or product launches. Ultimately, the source of IMC funds is determined by the company's financial strategy and marketing priorities.

Why Do We Need to Have IMC Budgets? Who Makes

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Why Do We Need to Have IMC Budgets? Who Makes

Essay

Correct Answer:Answered by ExamLex AIShow Answer

Correct Answer:
Answered by ExamLex AI