What is Advertising Budget?
The budget is an expression of the expenditure plan. It is
estimated to meet the financial requirements of advertising plans so that
advertising objectives with planned strategies may be realized within a given
time frame.
It is a statement of proposed advertising expenditure; a guideline
for allocating the available funds to the various functions and activities of
advertising.
The nature of the advertising budget, advertising appropriation,
allocating advertising budget and retail advertising budget are the main
decision areas of the advertising budget.
A budget is an expression in monetary terms of the forward
plan and the proposed activity. Advertising plan includes sales targets,
product facts, marketing information, competitive situation, creative platform,
copy treatment etc. The advertising budget is the translation of an advertising
plan into monetary form. It states the amount of proposed advertising expenses
and informs the management of the organization the expected cost of executing
the advertising plan.
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.
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