This document discusses advertising budgets, including the meaning of an advertising budget, factors that affect advertising budgets, and methods for setting advertising budgets. Some key points:
- An advertising budget is the amount a company allocates for promotional activities like advertising research, creative development, printing, and media buys.
- Factors that influence advertising budgets include market competitiveness, a company's market share, the product lifecycle stage, and desired advertising frequency.
- Common methods for setting budgets include percentage of sales, objectives and tasks, competitive parity, expert opinion, and affordability based on available funds. The objectives and tasks method sets the budget based on defining goals and estimating costs to achieve them.
Advertising appeals aim to influence the way consumers view themselves and how buying certain products can prove to be beneficial for them.
The message conveyed through advertising appeals influences the purchasing decisions of consumers.
Advertising uses appeals as a way of persuading people to buy certain products.
Advertising appeals are designed in a way so as to create a positive image of the individuals who use certain products.
Today global branding is important for B2B and B2C products and services. This presentation gives a comprehensive insight into brand management with examples of power brands.
Advertising appeals aim to influence the way consumers view themselves and how buying certain products can prove to be beneficial for them.
The message conveyed through advertising appeals influences the purchasing decisions of consumers.
Advertising uses appeals as a way of persuading people to buy certain products.
Advertising appeals are designed in a way so as to create a positive image of the individuals who use certain products.
Today global branding is important for B2B and B2C products and services. This presentation gives a comprehensive insight into brand management with examples of power brands.
This presentation is an introduction to the role of IMC in marketing.
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Advertisement Creative strategy & creative tactics & formatsNijaz N
A creative strategy defines the important strategic choices required to develop a marketing message.
The creative strategy (often called a copy or advertising strategy) defines what you will say about your product or service.
It explains how you want consumers to think about your Brand.
This presentation is an introduction to the role of IMC in marketing.
Want more FREE resources? Checkout the B2B Whiteboard youtube channel:
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Advertisement Creative strategy & creative tactics & formatsNijaz N
A creative strategy defines the important strategic choices required to develop a marketing message.
The creative strategy (often called a copy or advertising strategy) defines what you will say about your product or service.
It explains how you want consumers to think about your Brand.
Big or small, no matter what is the size of your firm, establishing an optimum advertising budget is one of the core decisive factor for the success of your advertising campaign. Discover the methods with their PROs & CONs !
A Strategic Approach: GenAI in EducationPeter Windle
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http://sandymillin.wordpress.com/iateflwebinar2024
Published classroom materials form the basis of syllabuses, drive teacher professional development, and have a potentially huge influence on learners, teachers and education systems. All teachers also create their own materials, whether a few sentences on a blackboard, a highly-structured fully-realised online course, or anything in between. Despite this, the knowledge and skills needed to create effective language learning materials are rarely part of teacher training, and are mostly learnt by trial and error.
Knowledge and skills frameworks, generally called competency frameworks, for ELT teachers, trainers and managers have existed for a few years now. However, until I created one for my MA dissertation, there wasn’t one drawing together what we need to know and do to be able to effectively produce language learning materials.
This webinar will introduce you to my framework, highlighting the key competencies I identified from my research. It will also show how anybody involved in language teaching (any language, not just English!), teacher training, managing schools or developing language learning materials can benefit from using the framework.
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The people of Punjab felt alienated from main stream due to denial of their just demands during a long democratic struggle since independence. As it happen all over the word, it led to militant struggle with great loss of lives of military, police and civilian personnel. Killing of Indira Gandhi and massacre of innocent Sikhs in Delhi and other India cities was also associated with this movement.
2. MEANING OF ADVERTISING BUDGET
• An advertising budget is the amount a
company set aside for its promotional
activities. Advertising budget is used by a
company for marketing the products and
services to the customers. Advertising budget
includes money for doing advertising research,
getting creatives made, printing material,
allocating money to advertising media and
ensuring proper implementation of ad
campaigns
3. FACTOR AFFECTING THE ADVERTISING
BUDGET
1. Degree of competitiveness in market:
Monopoly/Duopoly/Oligopoly
A monopoly firm does not have to worry about the promotional
spends as it is the only player in the market. For duopoly, where
market is dominated by two dominant players, the promotional
budgets would be high to outperform each other. In an Oligopolistic
market, where the market is cluttered and there are many players,
promotional spends has to be higher as the frequency of
advertisements has to be increased to get noticed among so many
players. Thus depending upon the competition the advertising
budget is set.
2. Market Share: Market leader/Market Follower
The advertising budget for a market follower will be decided by the
tactics of the market leader. To improve market share one of the
investment is to increase promotional spent. Thus, where a
company stands is a deciding factor in advertising budget
4. 3. Product life-cycle stage:
Introduction/growth/maturity/decline
The advertisement budget would be higher at the
introduction and growth stages as it has to introduce the
product in the market and establish itself among the
competitors so the frequency of advertisements would be
high and so would be the budget. As the product reaches
maturity and decline stages the promotional spent would
be lower.
4. Advertising Frequency: An ad can be played only once or
can be be multiple times. Also, it can be daily, weekly,
fortnightly, monthly etc. Depending upon the requirement,
the advertising budget is altered.
5. BUDGET SETTING METHODS
1. Percentage of Sales Method:
It is a commonly used method to set advertising
budget. In this method, the amount for
advertising is decided on the basis of sales.
Advertising budget is specific per cent of sales.
The sales may be current, or anticipated.
Sometimes, the past sales are also used as the
base for deciding on ad budget.
6. 2. Objectives and Task Method:
This is the most appropriate ad budget method for any
company. It is a scientific method to set advertising
budget. The method considers company’s own
environment and requirement. Objectives and task
method guides the manager to develop his promotional
budget by (1) defining specific objectives, (2)
determining the task that must be performed to achieve
them, and (3) estimating the costs of performing the
task. The sum of these costs is the proposed amount for
advertising budget. The method is based on the
relationship between the objectives and the task to
achieve these objectives.
7. 3. Competitive Parity Method:
Competition is one of the powerful factors
affecting marketing performance. This method
considers the competitors’ advertising
activities and costs for setting advertising
budget. The advertising budget is fixed on the
basis of advertising strategy adopted by the
competitors.
8. Thus, competitive factor is given more
importance in deciding advertising budget. For
example, if the close competitors spend 3% of
net sales, the company will spend, more or
less, the same per cent for advertising. Here it
is assumed that “competitors or leaders are
always right.” If not followed carefully, this
method may result into misleading.
9. 4. Expert Opinion Method:
Many marketing firms follow this method.
Both internal and external experts are asked
to estimate the amount to be spent for
advertisement for a given period. Experts, on
the basis of the rich experience on the area,
can determine objectively the amount for
advertising. Experts supply their estimate
individually or jointly.
10. 5. Affordability: In this method the budget for
advertising is decided based on availability of
funds. Mostly for small companies the funds
available varies from time to time based of
business performance. Hence marketing
spend vary throughout the year based on
availability of funds.