This article draws upon the importance of advertising, establishing objectives and staying within budget when creating a promotional plan. I believe the statement about ‘companies gaining brand value’ as a result of successful advertising is very true. Advertising is an essential component of marketing as it makes the public aware of a product, brand or service. It is necessary that a promotional programme is prepared before any sort of advertising can progress. It is important for companies to establish a set of realistic and attainable objectives. There are several characteristics behind a set of good objectives. Features include; ensuring that each objective formulated is measurable, identifies the target audience and has a time period. By incorporating the S.M.A.R.T model into a promotional plan, companies can ensure objectives they have created contain each critical component. Coordination and effective communication amongst all parties is key when sharing ideas that involve setting objectives. Steps companies should follow and base their promotional strategies around are elements such as; Advertising, Marketing Collateral, Sales Promotion, Publicity and Media. Budgets need to be put in place when creating a promotional plan as advertising and sales promotions tend to be expensive.
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