Advertising helps to reach to the customers and create awareness of the product. Advertising is also used to promote certain features of the product that help gain a competitive advantage over competitors. Advertising is different as per the strategy and situation of the company in each period therefore, spending on advertsing is a strategic decision altogether. The ad agency and media planners assist in creating the ad and choosing the mediums to promote the advertisement.
Advertisement is a strategic decision since the expenditure depends on the amount being spent by the compeititors because if advertisement level is lower than that of the competitors then the advertisement will go to waste. Advertisement must not be lost in the clutter caused by every firm advertising its product. Advertising has to be every year since its impact is immediate and reminder ads are necessary. In the first period, we plan to use pioneer advertisement that will help us promote not only just the brand rather the entire product category. It will help create awareness of the product and also assist in promoting Premeter 3 as a brand plus the product we are selling. The advertisement budget for the first period shall be £ 265,000.
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