Friday, July 26, 2019
Recommendation on Hiring an External Advertising Agency Research Proposal
Recommendation on Hiring an External Advertising Agency - Research Proposal Example The recommendation is to hire an external advertising agency to mitigate the risk associated with a failed advertising. The company is on a limited budget because it is still a start-up company. XYZ Company can remedy this shortcoming by resorting to a Limited-Service Advertising agency whereby some of the advertising function such as planning and strategic functions may require XYZ CompanyÃ¢â¬â¢s greater involvement. Unlike in a full-service advertising service where the company only need to state its objective, Limited Advertising Agency would require greater involvement (http://adworld2020.blogspot.com/). XYZ would assume a greater responsibility for the strategic function of the campaign which is advantageous to the company because it can include inputs which are a very valuable aspect of the campaign since the company knows best its market. In effect, XYZ Company will have the best of both worlds in this approach because its inputs will be guided by a professional that would h elp determine if the formulated strategy will work or not. Thus, a $15,000 advertising budget for a limited service advertising would suffice. Limited-Service Advertising agency is more appropriate for XYZ Company for a variety of reason. Limited-Service Advertising agency is an advertising agency that supplies only one or two basic services such as creative advertising but will also provide strategic planning service (http://adworld2020.blogspot.com/). Hiring a Limited-Service Advertising agency is more appropriate for XYZ Company to mitigate the risk in advertising. Hiring a Limited-Service Advertising agency will avoid an advertising failure due to lack of expertise. The company cannot afford this mistake because it is still a start-up and therefore, it would be best for the company if it will hire professional ad agencies which have records of the high degree of success in raising consumer awareness.