To determine how much money to spend on advertising, marketers for a new brand of caffeinated energy drink decided that they wanted the advertising to create awareness of the new flavor in 80 percent of the energy drink market within one month of introduction. The marketers then determined how much it would cost to reach this goal. This is an example of approach toward determining advertising budgets.

Question

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The objective-and-task approach involves setting a specific objective (in this case, creating awareness in 80% of the market) and then determining the cost required to achieve that objective.

To Determine How Much Money to Spend on Advertising, Marketers