VB - Factors Affecting Advertising Budget
VB - Factors Affecting Advertising Budget
VB - Factors Affecting Advertising Budget
Advertising Budget
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:
Frequency of the Advertisement : 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.
Competition and Clutter : 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.
Market Share
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.