Question

What advice would you offer to entrepreneurs on a limited advertising budget?

Answer 1

Advice to entrepreneur with limited advertising budget

Explanation:

Advertisement budget is the money the company has set aside for it's promotional activities. An entrepreneur who has a limited advertising budget must be Very selective about the mode of advertisement and the target audience.

He must do market research before finalizing the marketing and advertisement strategy. An in-depth survey about the target audience will provide better insight about right advertisement which is also budget friendly, so the entrepreneur must prudently decide about the advertisement.

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Answer 2

Advice to entrepreneurs on a limited advertising budget:

• The entrepreneurs can use social media like Facebook, Instagram, Whatsapp, twitter and Snapchat to advertise their products.
• We can also sponsor an event which is also means of promotion of our product.
• When we have a limited budget, we can conduct workshops so that we can interact with the customers.
• We can prepare a brochure which is hand-marketing and it can reach a wide variety of people with a low budget.

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Compare and contrast the different approaches to budgeting for international advertising

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