8.24 : IMC_Budget_II

Companies use structured approaches to allocate resources effectively when creating marketing budgets.

For example, XYZ Mobile allocates a five hundred thousand dollar marketing budget for its IMC campaign to enhance product awareness by 20% and sales by 15% in the first quarter, targeting millennials.

The budget includes two hundred thousand dollars for online advertising using Google ads and social media, one hundred thousand dollars for influencer partnerships on YouTube and Instagram, sixty thousand dollars for content creation, forty thousand dollars for operational costs, and one hundred thousand dollars for contingency expenses.

For instance, in the first month, XYZ Mobile notes a boost in social media engagement and allocates an additional thirty thousand dollars to enhance influencer partnerships.

In the third month, the company adds forty thousand dollars to competitive advertising to address rising competition.

This dynamic budgeting method allows XYZ Mobile's campaign to adapt to changing market conditions, maximizing impact and return on investment.