Answer to Question #213544 in Management for Prince

Question

SUBJECT : ADVERTISING AND SALES MANAGEMENT

Why budget plays a significant role (elaborate in 9 points ) in advertising? What are the criteria for selecting the budget (elaborate in detail) to make advertising a success?

Answer 1

The budget is essential in advertising since it assists the firm in determining the objectives and expenses. The budget also aids in the formulation of plans and the generation of profits by improving total sales. In addition, the budget offers a clear direction for advertising composition. It also aids the corporation in comprehending the advertising necessities. It assists in allocating appropriate resources to each required task. The budget also guarantees that actual expenditures do not exceed a set level. The company's entire advertising budget is closely controlled. It also ensures that each advertising action is closely monitored and kept well under budget. The criteria for selecting the budget to make advertising a success include how much funds should be invested in advertising and marketing within a particular time. It also entails deciding how the overall advertising and marketing budget should be allocated to various platforms and products/services.