Covert and Public Service Advertising
February 12, 2025
Organizational environment consists of both external and internal factors. Environment must be scanned so as to determine development and forecasts of factors that will influence organizational success. Environmental scanning refers to possession and utilization of information about occasions, patterns, trends, and relationships within an organization’s internal and external environment. It helps the managers to decide […]
Introduction The concept of knowledge as the founding block for attaining competitive advantage has become quite prevalent in Management studies. All knowledge should begin form a piece of information. For the conversion of information into knowledge there is a critical aspect to be noted. This is related to the timing of the retrieval of information. […]
Over the years, the retailers have adopted several unique strategies and ways of dealing with the challenges. We shall briefly discuss the two major strategies adapted by the international retailers in their areas of global operations. Differentiation by Unique Customer Experience Some of the features that highlight the international retailer product is the standardization in […]
Being young and with a growing family means having a ‘Wish List’ that is quite long. You have your dreams and the other’s in the family have theirs too. So when an opportunity to earn extra money besides your current income through your profession is certainly going look like a God sent opportunity. If you […]
Modern day Retail Stores have come a long way from the traditional mom and pop shops as well as Departmental Stores. The modern Store Designs have taken the concept of shopping to a new level. The modern Store Designs are all embracing keeping in view the functional, utilitarian as well as aesthetic values and requirements […]
“Money does matter a lot.”
Advertising Budget is the amount of money which can be or has to be spent on advertising of the product to promote it, reach the target consumers and make the sales chart go on the upper side and give reasonable profits to the company.
Before finalizing the advertising budget of an organization or a company, one has to take a look on the favorable and unfavorable market conditions which will have an impact on the advertising budget. The market conditions to watch out for are as follows:
This means the number of times advertise has been shown with the description of the product or service, in the granted time slots. So here, if any company needs more advertising frequency for its product, then the company will have to increase its advertising budget.
The companies may have many competitors for its product. And also there are plenty of advertisements shown which is called clutter. The company has to then increase their advertising budget.
To get a good market share in comparison to their competitors, the company should have a better product in terms of quality, uniqueness, demand and catchy advertisements with resultant response of the customers. All this is possible if the advertisement budget is high.
If the company is a newcomer or if the product is on its introduction stage, then the company has to keep the budget high to make place in the market with the existing players and to have frequent advertisements. As the time goes on and product becomes older, the advertising budget can come down as then the product doesn’t need frequent advertising.
When the market conditions are studied thoroughly, then the company has to set up its advertising budget accordingly. For setting advertising budget, there are four methods:
They are as follows.
Thus, doing the homework and then moving forward, i.e. searching for best market conditions and setting the best advertising budget will have a great impact on improvement and development of the company.
Your email address will not be published. Required fields are marked *