What Is the First Step in Wang and Schultz's Seven-Step

question 20

Multiple Choice

What is the first step in Wang and Schultz's seven-step IMC planning model?

• A) Identifying what brand contacts and what changes in attitude are required to support the consumer's continuance or change of purchase behavior
• B) Setting marketing objectives based on analysis of customer information
• C) Analyzing information on customers to understand their attitudes, their history, and how they discover and interact with the brand or product
• D) Segmenting customers and prospects in the database by a measurable purchase behavior
• E) Determining what communications tactics to use to make contact and influence the consumer's behavior

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Definitions:

Unamortized Acquisition Differential

The portion of the purchase price of a company that is not yet allocated to the acquired assets or liabilities over time through amortization.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its net tangible assets, representing future economic benefits.

Fair Value

An estimate of the price at which an asset could be bought or sold, or a liability settled, in an orderly transaction between market participants at the measurement date.

Equity Method

An accounting technique used for recording investments in which the investor has significant influence but not total control over the investee.