VinceZ

Thursday
Mar 11th
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The budget

The Budget

The Budget

A famous comment usually attributed to Lord Leverhulme goes:

“I know that half of my advertising budget is wasted, but I’m not sure which half”

It is notoriously difficult to measure the effect of advertising on a business’ sales. Advertising is just one of the variables that might affect sales in a particular period. These include:

• Consumer and business confidence
• Levels of disposable income
• Availability of product (e.g. does the retailer actually have stock to sell?)
• Availability of competing products
• The weather (often blamed by retailers for poor sales!)

How can a business know whether a specific advertising campaign was effective?

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Integrated dollars

Integrated dollars

Advertising - Overview

Advertising is anything your business does to draw attention to your product or service. It is an important part of running any business, large or small. No business can be successful without successful advertising. It gains both new customers for a business, as well as affirms to current customers that the business is still offering quality services and products. Advertising allows businesses to reach a broad audience and to let the public know about the products and services the business offers.

Through one advertisement, a company can reach hundreds, if not thousands of people. This is one of the challenges of it. The company needs to make sure that their advertisement reaches their target audience—the people they think would be able to use their product or service. If advertising reaches a thousand people, but it is a thousand people who cannot use the product, the money on the ad is wasted. The goal of well-placed advertising is to get the ad to the target market. Further, as well as reaching the targeted audience, the advertising a business relies on must reach the audience in a positive way. Advertising is an art form, one which leaves the memory of a business’s products or services in the consumers mind.
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