Factors that need to be considered while determining an advertising budget are:
Type of media to be used and its frequency too. Frequency means how many times the advertisement will be shown over the media.
Market share of the product. It means to capture the highest number of customers in the market by making the product unique.
Life cycle stage of the product. It is the time that has been spent after the launch of the product. Suppose if the company is a new comer then the advertisement budget of the company must be high.
Competition and clutter. It is the number of competitors that any product or company can have. More the competitors more should be the advertisement budget.
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