The best approach to budgeting is objective and task budgeting,whereby the company determines its promotion objectives,outlines the tasks to accomplish those objectives,and:

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Determining the promotion cost of performing the tasks outlined to accomplish the objectives is the best approach to budgeting as it involves a realistic evaluation of the necessary expenditure needed to achieve the promotional goals. Asking the ad agency for an estimate or asking the media to propose a program before determining the promotion cost of performing those tasks may result in an inaccurate budget. Determining what spending level top management will allow for the proposed program without first evaluating the promotion cost of the tasks could result in an unrealistic budget.

The Best Approach to Budgeting Is Objective and Task Budgeting,whereby