An advertising and marketing agreement specifies product prices.
Organizations sign advertising and marketing agreements to ensure adequate market positioning for corporate products and services. These agreements also help firms increase profit indicators in the short and long terms.
Identification
An advertising and marketing agreement is a contract in which two or more parties accept to collaborate in activities concerning product pricing, distribution, promotion and positioning.
Significance
An advertising and marketing agreement helps a company increase profitability over a period of time, ensuring that corporate salespeople can leverage business partner resources to increase sales.
Features
A typical advertising and marketing agreement includes legal clauses such as the agreement purpose, parties to the contract, confidentiality provisions, representations and guarantees, termination procedures and renewal provisions.
Time Frame
The expiration of an advertising and marketing agreement depends on the contract, operating requirements and business partners. Some agreements may remain in force during the entire product or service development cycle.
Other Considerations
Corporate marketing and sales department heads generally work in tandem to manage advertising and marketing agreements, ensuring that partners abide by contracts when providing services or performing duties.
