sweetangel
New member
ADVERTISING PROJECT
# ADVERTISING BUDGETS
The term 'advertising budget' in essence is nothing but planning the advertising expediture.The amount of money to be utilised for advertising purpose is charged to the profit and loss account of the co. and therefore is of vital importance both to the co. and to the advertising agency that handles advertiser's account.Advertising costs money & before spending,it is necessary to ensure its proper investment.
Every ad is a long term investment in the personality of a brand.Therefore,when advertising is recognised as a type of future investment,care must be taken today to make it more effective with proper planning of advertising budget.
• IMPORTANCE OF ADVERTISING BUDGET
1. Check on advertising expenditure: Advertising budget helps to have a check on advertising expenditure. Depending upon the budget,theadvertiser will utilise the right funds to achieve the advt. objectives.There will be no wastage of funds by over spending on advt.The right amount will be spent to achieve the advt objectives.
2. Approval from top management: The framing of advt budget will enable the advt manager to obtain approval from the top management.If the top management feels that the budget amt is more,then the advertising manager may have to provide necessary justification for higher budgets.
3. Balanced focus: The ad budget is prepared taking into consideration the requirements of the products that are to be advertised.The right product is to be allocated the right amount of money.Again,there will be proper focus on the right place & the right period of advertising.
4. Facilitates planned execution: The right amount will be spent on the right product in the right media at the right period and place.This will enable the advertiser to achieve ad objectives.
5. Provides direction for drafting of Ads: The Ad budget provides a proper direction for drafting of ads. Depending upon the budget,the ads will be filmed or drafted.When there is a large budget ,the advertiser may think of selecting popular personalities,shooting the film at exclusive locations,using sophisticated computer graphics & so on.
6. Selection of media: When advt budget is large,the advertiser can select rich media mix which includes television channels,various magzines,newspapers & even outdoor media.However,if the budget is small,the advertiser has to be very selective in the choice of media.
# ADVERTISING BUDGETS
The term 'advertising budget' in essence is nothing but planning the advertising expediture.The amount of money to be utilised for advertising purpose is charged to the profit and loss account of the co. and therefore is of vital importance both to the co. and to the advertising agency that handles advertiser's account.Advertising costs money & before spending,it is necessary to ensure its proper investment.
Every ad is a long term investment in the personality of a brand.Therefore,when advertising is recognised as a type of future investment,care must be taken today to make it more effective with proper planning of advertising budget.
• IMPORTANCE OF ADVERTISING BUDGET
1. Check on advertising expenditure: Advertising budget helps to have a check on advertising expenditure. Depending upon the budget,theadvertiser will utilise the right funds to achieve the advt. objectives.There will be no wastage of funds by over spending on advt.The right amount will be spent to achieve the advt objectives.
2. Approval from top management: The framing of advt budget will enable the advt manager to obtain approval from the top management.If the top management feels that the budget amt is more,then the advertising manager may have to provide necessary justification for higher budgets.
3. Balanced focus: The ad budget is prepared taking into consideration the requirements of the products that are to be advertised.The right product is to be allocated the right amount of money.Again,there will be proper focus on the right place & the right period of advertising.
4. Facilitates planned execution: The right amount will be spent on the right product in the right media at the right period and place.This will enable the advertiser to achieve ad objectives.
5. Provides direction for drafting of Ads: The Ad budget provides a proper direction for drafting of ads. Depending upon the budget,the ads will be filmed or drafted.When there is a large budget ,the advertiser may think of selecting popular personalities,shooting the film at exclusive locations,using sophisticated computer graphics & so on.
6. Selection of media: When advt budget is large,the advertiser can select rich media mix which includes television channels,various magzines,newspapers & even outdoor media.However,if the budget is small,the advertiser has to be very selective in the choice of media.