An organization needs to budget in order to ensure that its expenditure does not exceed its planned income.
- Competitor’s activities –we should have parity.
- The market size/share
- Available funds
- The nature of the product the company is selling i.e. consumer or industrial goods.
- Prevailing government policies.
- Frequency of the advert-this is important because adverts are charged differently according to the timings of the day/night times.
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