The first step an internal auditor should take in performing a management study to help the director of marketing determine the optimum allocation of advertising budget to company products is to:

a. Analyze prior years' advertising costs.

b. Hold discussions with media personnel.

c. Establish and discuss with the director the key objectives of the study.

d. Determine the amount of projected sales for the purpose of establishing the proposed sales budget.

e. Both a and b above.