The factors that should be considered in the process of determining an advertising budget are Firms must understand how advertising will help them meet objectives and Advertising spending will fluctuate over the course of the product life cycle.
A budget for advertising is money set aside by a business to promote its products and services. Conducting market research, having ad creatives created and produced, promoting through print, digital, and social media, launching advertising campaigns, etc. are all examples of promotional activities.
Any marketing activity a business wishes to engage in requires some financial investment. The advertising budget is crucial for this reason. It aids in comprehending the goals. Costs aid in strategy development and profit generation by raising total sales.
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The complete question is:
which factors should be considered in the process of determining an advertising budget? (choose every correct answer.)
A) Firms must understand how advertising will help them meet objectives.
B) The budget should be uniform for all products within the firm.
C) The budget should be relatively uniform throughout the product's life.
D) Advertising spending will fluctuate over the course of the product life cycle.
E) Advertising spending should depend on the previous year's sales volume.
