Methods for Setting Advertising Budget
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This document outlines 9 different methods for setting advertising budgets: objective task method, historical method, percentage past sales method, percentage of future sales method, competitor parity method, market share method, affordability method, marginal method, and unit method. It provides a brief description of each method, including examples for some. The document concludes by asking which methods might be used by large multinational companies versus local small companies.
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Advertising budget
This document discusses advertising budgets, including how they are set and the factors that influence them. An advertising budget shows the total amount to be spent on advertising and how it will be allocated. It helps meet advertising objectives and is prepared for a specific future time period. Budgets can be set using the affordable method, percentage of sales method, competitive parity method, or objective and task method. The objective and task method is considered the most logical as it focuses on the advertising tasks needed to achieve objectives based on market research. The advertising budgeting process involves setting objectives, determining tasks, preparing the budget, approval, allocation, and monitoring. Factors influencing budgets include advertising tasks, product lifecycle stage, market share, competition, frequency,
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The document discusses advertising budgets and factors that influence budget setting. It provides details on different budgeting approaches, including top-down and bottom-up methods. Key factors in determining budgets are the campaign, market, competitive situation, and brand life cycle stage. Budgets are set using marginal analysis and sales response models to optimize profits from gross margin versus promotional spending. The optimal spending level balances marginal costs and revenues generated.
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This document discusses different pricing strategies for a product. It outlines cost-based pricing methods which include marking up product costs by a percentage or adding a percentage to unknown costs. It also discusses competition-based pricing, including matching competitors' prices to be comparable, lowering prices to increase market share, or seeking larger market share through lower prices. Finally, it outlines customer-based pricing such as penetration pricing to attract new customers, price skimming to target early adopters, loss leaders to attract customers into making additional purchases, predatory pricing to restrict competition, and psychological pricing to make products seem cheaper than they are.
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1. Sales promotion tools are direct inducements used to create immediate sales and can be targeted at consumers or the trade.
2. Common consumer-oriented tools include samples, coupons, premiums, contests and sweepstakes, rebates, and bonus packs, while trade-oriented tools include trade shows, allowances, and point-of-purchase displays.
3. The goal of trade promotion is to influence retailers to promote and stock products through incentives like contests and discounts.
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This document discusses advertising budgets, including how they are set and the factors that influence them. An advertising budget shows the total amount to be spent on advertising and how it will be allocated. It helps meet advertising objectives and is prepared for a specific future time period. Budgets can be set using the affordable method, percentage of sales method, competitive parity method, or objective and task method. The objective and task method is considered the most logical as it focuses on the advertising tasks needed to achieve objectives based on market research. The advertising budgeting process involves setting objectives, determining tasks, preparing the budget, approval, allocation, and monitoring. Factors influencing budgets include advertising tasks, product lifecycle stage, market share, competition, frequency,
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The document discusses advertising budgets and factors that influence budget setting. It provides details on different budgeting approaches, including top-down and bottom-up methods. Key factors in determining budgets are the campaign, market, competitive situation, and brand life cycle stage. Budgets are set using marginal analysis and sales response models to optimize profits from gross margin versus promotional spending. The optimal spending level balances marginal costs and revenues generated.
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- Advertising effectiveness measures whether time, talents and resources invested in ads achieved profit and customer satisfaction goals.
- It is difficult to directly measure ad effectiveness, as many other factors influence sales and profits besides ads. However, ads are an important tool to increase sales due to large investments.
- Ad effectiveness can be tested at various stages and in various ways, including pre-testing ads using checklist, opinion, dummy magazine, and inquiry methods prior to campaigns to select best copy, headlines, media, and post-testing campaigns' success in reaching targets.
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This document discusses different pricing strategies for a product. It outlines cost-based pricing methods which include marking up product costs by a percentage or adding a percentage to unknown costs. It also discusses competition-based pricing, including matching competitors' prices to be comparable, lowering prices to increase market share, or seeking larger market share through lower prices. Finally, it outlines customer-based pricing such as penetration pricing to attract new customers, price skimming to target early adopters, loss leaders to attract customers into making additional purchases, predatory pricing to restrict competition, and psychological pricing to make products seem cheaper than they are.
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1. Sales promotion tools are direct inducements used to create immediate sales and can be targeted at consumers or the trade.
2. Common consumer-oriented tools include samples, coupons, premiums, contests and sweepstakes, rebates, and bonus packs, while trade-oriented tools include trade shows, allowances, and point-of-purchase displays.
3. The goal of trade promotion is to influence retailers to promote and stock products through incentives like contests and discounts.
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This document provides an overview of channels of distribution from a presentation on sales and advertising management. It defines channels of distribution as the ways that goods and services are distributed from manufacturers to consumers. The document outlines various definitions of channels of distribution from different authors. It discusses the characteristics and elements of channels of distribution, including that they are routes that goods and services flow through composed of intermediaries like wholesalers and retailers. The document also covers the functions of channels of distribution, factors that determine choice of channels, and factors relating to products, companies, markets, middlemen, and the environment that influence channel selection.
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This document discusses integrated marketing communications and the major steps in developing an effective communications program. It defines marketing communications and lists the main communication modes. The major steps in developing communications are identifying the target audience, determining objectives, designing the message, selecting channels, establishing a budget, and measuring results. It also discusses elements of the communications process, developing effective creative strategies, and setting an optimal communications mix.
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The document discusses various methods for measuring the effectiveness of promotional programs, including:
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Product policy outlines how a product is marketed to consumers. A product lifecycle includes introduction, growth, maturity, saturation, and decline phases. Demand forecasting for new products is different than for established products since there is no past data. Methods for forecasting new product demand include evolutionary approach, substitute approach, opinion polls, sales experience in sample markets, growth curve patterns of similar products, and vicarious approach through dealer surveys.
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Methods for Setting Advertising Budget
- 1. METHODS FOR SETTING ADVERTISING BUDGET CHAPTER 7
- 2. THE METHODS • Objective task method • Historical method • Percentage past sales method • Percentage of future sales method • Competitor parity method • The market share method • Affordability method • Marginal method • The unit method
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- 4. HISTORICAL METHOD • Based on previous year advertising/promotion budget • Maybe add for extra activities or inflation
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- 6. PERCENTAGE OF FUTURE SALES • Look at sales target of the following year • Establish advertising budget percentage of sales target • Example : sales target of 2009 rp. 60billion. Adv budget 10X rp. 60 billion=rp.6billion
- 7. COMPATITOR PARITY METHOD • Find out direct competitor advertising budget • Set budget to compete with direct competitor method • Danger: if competitor has bigger market share
- 8. MARKET SHARE METHOD • Find out direct competitor’s budget • Establish advertising budget by considering both the competitor’s budget as well as yours and their market share
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- 11. THE UNIT METHOD • All cost to market a brand is calculated (production, distribution, promotion) • Advertising/promotion budget is incorporated in the price • Example price of a bottle of soft drink is rp.2000. advertising cost is already incorporated within the price.
- 12. DISCUSSION • Which methods do you think would be used by big. Competitive multi national companies? Why • Which methods do you think would be used by local, family owned and small companies? Why?