Performance should include
- following the steps of a cost-benefit analysis
- assigning all elements a dollar value
- identifying an end point or future moment to target the analysis
- accounting for inflation and evaluating savings
- defining return on investment (ROI)
- describing the advantages of doing a cost-benefit analysis.
Process/Skill Questions:
Thinking
- What effect does advertising have on sales?
- What is the value of identifying the strengths and weaknesses of various channels of mass media?
Communication
- How are sales promotions advertised through mass media?
- Why is it important to follow up on sales promotion effectiveness?
Leadership
- How is social media currently used to offer sales promotions?
Management
- How often should management evaluate its advertising venues?
- How can management use information from a cost-benefit analysis?