SPECIFICS OF MANAGEMENT OF ADVERTISING COSTS IN THE CONTEXT OF INTERNATIONAL ECONOMIC RELATIONS

Abstract

The features of the process of organizing and managing advertising costs in the conditions of international economic activity have been investigated. Methodical and practical recommendations for calculating and optimizing the size of the advertising have been developed. The articles of national and foreign scientists, normative and legislative acts of Ukraine on personnel management were used as the theoretical and methodological basis of the research. Advertising attracts the attention of the public because of its ability to influence lifestyles. It has been proved that advertising is an active part of the marketing complex in modern conditions. Having analyzed foreign and domestic experience in the field of advertising, it becomes clear that advertising requires a comprehensive and consistent implementation of promotional activities tailored to the enterprise marketing strategy. Recommendations on carrying out the main stages of the organization of advertising activity were developed in particular study of marketing strategy and policy of the enterprise; determining the purpose and objectives of advertising for the current period; conducting market research; determining the target list of customers potentially interested in the enterprise's products and the list of advertised products; determining the total amount of money allocated for advertising per year; distribution of advertising budget funds by cost items; drawing up cost estimates; preparation of a media plan for a year: choice of types of advertising, frequency and timing of its placement; evaluation of advertising effectiveness. Positive and negative aspects of existing methods of budgeting of advertising were also revealed. The algorithm and directions of cost optimization are offered. The first direction involves the development of a methodology for analyzing the effectiveness of advertising. The second direction is to review the advertising budget. The basic stages of the advertising budget development are also suggested including reviewing advertising budgets, drawing up an advertising budget, negotiating with contractors to review the terms of contracts, developing an advertising budget for the year. Following these guidelines will help businesses reduce their advertising costs and make them more effective. This will further increase profits and enter new international markets.