Go Back   ManagementParadise.com | Management & Business Education Learning Platform BMM Paradise for Bachelors in Mass Media Forum > Introduction to Media Studies

Media budget

Discuss Media budget within the Introduction to Media Studies forums, part of the BMM Paradise for Bachelors in Mass Media Forum category; Show me the money There are two primary methods of determining your advertising budget more specifically. First is the cost ...

Reply

 

Thread Tools Display Modes
Media budget
Old
 (1 (permalink))
Abhijeet S
abhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to beholdabhishreshthaa is a splendid one to behold
 
abhishreshthaa
Operations Manager at Management Paradise
Management Paradise Guru
 
Status: Offline
Posts: 7,045
Join Date: May 2010
Media budget - October 11th, 2010

Show me the money

There are two primary methods of determining your advertising budget more specifically. First is the cost method, which theorizes that an advertiser can’t afford to spend more than he has. In my experience, this seems to be the most popular method used in associations.


The second method, the task method, is used when associations base their advertising budgets on the amount of money needed to attract the customer or sell the product. An association using the task method typically determines how much money is needed based on past expenses to produce results.


Start small

Unless you are launching a national campaign, build your advertising budget based on local and regional pricing and opportunities. Consider advertising opportunities with other professional organizations. For example, a local charity sponsors a chamber of commerce event. Chambers have business people who are more than willing to share their time, talents, and checkbooks. Sometimes the results can be two-fold: a donation and a new volunteer for your cause. Word-of-mouth advertising could be the best dollar you ever spent.



What will this cost?

Your budget will determine when and where you can advertise. There are four basic ways to determine what your budget should be. And don’t forget, your budget doesn’t just include media costs, but production costs as well.
Advertisements



Help Others > Network > Grow


Work with us part time/full time as forum moderator. Email us your resume on careers @ managementparadise.com PLS PRESS THANKS BUTTON IF U LIKED MY POST.


To view links or images in signatures your post count must be 0 or greater. You currently have 0 posts.
Friends: (0)
Reply With Quote
Reply

Bookmarks

Tags
ad message, advertising budgets, agencies money, agency media, budget allocation, client’s money, cost effective manner, emergency money, important decisions, large advertisers, long-term future, media buying, media department, media efficiency, media plan, media space, media time, methods employed, quick return, special expenses, staff analyses, target audience, voice method
Related to Media budget
 

Similar Threads

Thread Thread Starter Forum Replies Last Post
why is the Rail budget placed separately from the general budget? Varun Nakra General Talks 4 January 8th, 2016 03:18 PM
Allvoices Launches to Merge Traditional and New Media with Online Citizen Media Commu Maya Raichura Articles !! 0 July 10th, 2008 04:40 PM
Allvoices Launches to Merge Traditional and New Media with Online Citizen Media Commu Maya Raichura Articles !! 0 July 10th, 2008 12:30 PM
Former Google Executive and New Media Expert Charley Cassell Joins Vibes Media as Chi Maya Raichura Articles !! 0 July 3rd, 2008 02:54 AM
Former Google Executive and New Media Expert Charley Cassell Joins Vibes Media as Chi Maya Raichura Articles !! 0 July 2nd, 2008 10:50 PM
 


Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is On
Trackbacks are On
Pingbacks are On
Refbacks are Off


ManagementParadise.com is not responsible for the views and opinion of the posters. The posters and only posters shall be liable for any copyright infringement.



Search Engine Optimization by vBSEO ©2011, Crawlability, Inc.