Review CASE STUDY: The AGRI Venture: An Integrated Marketing Communications Program. Chapter 7 states there is no universally accepted method of setting the budget for the IMC program. In fact, many of the theoretical methods discussed in the textbook are seldomly employed as described because companies adapt their budgeting process to fit their available human, financial, and social capital. It is still important, however, to have an understanding of the budgeting approaches and the budget process. It is also important to understand the sales response to increases or decreases in advertising expenditures. The S-shaped response curve and the concave-downward curve relate to budget setting. Review the AGRI Venture product mix. Discuss each curve and give examples of how each might be more appropriate for different products. There are Top-Down versus Bottom-Up approaches to Budget Setting. Discuss the strengths and weaknesses of each approach in the context of the AGRI Venture.

Answer rating: 100% (QA)

The concave downward curve means that advertising will have an almost instantaneous effect or will have no effect at all on the AGRI venture product mix This benefit however gradually fades away with ... View the full answer