After reading this article you will learn about the budgetary process for advertising of products. The advertising budgeting process involves the following steps (Fig. 17.3): Step-I: Preparation of Budget: It is generally prepared by advertising manager in consultation with marketing manager. The advertising budget made is based on inputs provided by marketing research people. The budget is generally made on [...]
This article throws light upon the top nine factors influencing the advertising budget allocation. The factors are: 1. Marketing Mix of the Company 2. The Sales Forecast 3. Affordability 4. The Product Life Cycle 5. Quality of the Campaign 6. Level of Competition 7. The Budgeting Cycle 8. Contingency Planning 9. Type of the Product. Factor # 1. Marketing Mix [...]
The advertising budget is primarily a blue print of a projected advertising plan of action by an organisation for a definite period of time. Its fundamental purpose is to aid in securing control over advertising and is accompanied by comparing actual attainments against the projected allocation and using it as a yardstick in determining the effective use of advertising. Advertising [...]