Advertsing budget
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The document discusses advertising budgets, which estimate the financial requirements to achieve advertising objectives within a given time period. The budget is a guideline for allocating funds to advertising functions and activities. Key factors that influence the budget include available finances, sales percentages, competitors' spending, and return on investment. The budget specifies income, expenses, and how funds will be allocated. It must be constructed within the company's financial capabilities. The budget process involves estimating total advertising costs based on market information, then appropriating funds and specifying expenditures for each advertising function. The budget is presented to management for review and modification before execution and control to ensure actual spending matches estimates. Various methods can be used to allocate the budget, such as percentages of sales or objectives
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The document provides information about sales budgeting including definitions, uses, factors affecting compilation, and the budgeting process. It defines a sales budget as a financial plan depicting how resources should be allocated to achieve forecasted sales. It discusses how a sales budget is used as a working guideline, means of coordination, and surveillance tool. It also outlines factors like market conditions, competition, and financial capabilities that affect budget compilation. Finally, it provides an example of a company's sales budgeting process for a furniture company.
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The document discusses the sales budget process. It begins by defining a sales budget as consisting of expected sales volume and selling expenses, with the volume based on sales forecasts and budgets generally set slightly lower than forecasts. It then outlines the sales budget process, which includes reviewing past performance and market factors, communicating budget guidelines, preparing subordinate budgets, approving the sales budget, and sharing it with other departments to aid their budgeting.
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A sales budget estimates unit and revenue sales as well as selling expenses to estimate profit targets. It can be broken down by region, product, and account type. The purposes of a sales budget are to serve as a control mechanism by measuring actual performance against benchmarks and to aid in planning by balancing sales budgets and expenses to meet business objectives. A sales budget includes estimates of selling expenses like sales salaries and commissions, advertising expenses, and administrative expenses. Management considers both short-term sales maximization and long-term profit maximization when estimating expenses.
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The document provides information about sales budgeting including definitions, uses, factors affecting compilation, and the budgeting process. It defines a sales budget as a financial plan depicting how resources should be allocated to achieve forecasted sales. It discusses how a sales budget is used as a working guideline, means of coordination, and surveillance tool. It also outlines factors like market conditions, competition, and financial capabilities that affect budget compilation. Finally, it provides an example of a company's sales budgeting process for a furniture company.
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Jan: 6.1% of $476,055 is $29,062
Feb:
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A sales audit systematically reviews a company's sales objectives, policies, organization, methods, procedures, and personnel to ensure they are properly implemented and achieving their goals. It examines six main aspects of the selling operation. Sales analysis studies sales volume in detail to identify strengths and weaknesses, including allocation of sales effort and data used. Marketing cost analysis relates sales volume to selling expenses to determine the relative profitability of different sales operations by classifying expenses and calculating contribution margin.
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This document discusses sales planning and organization. It covers product-wise and territory sales planning, including determining sales potential and forecasts. It also discusses designing sales territories, including factors like travel time and parity in sales potential between territories. Finally, it discusses organizing a sales force through different organizational structures and defining sales roles and responsibilities.
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Sales control and cost analysis involves coordinating and controlling various sales operations to ensure sales and profit objectives are achieved. It utilizes tools like sales audits, sales analysis, and cost analysis. A sales audit examines a sales organization's objectives, policies, structure, methods, procedures, and personnel to identify strengths, weaknesses, and opportunities for improvement. Sales analysis studies sales volume trends to understand territories, products, and customer types performing well or poorly. Cost analysis breaks down sales volumes and expenses to determine the profitability of different sales activities and categories in order to improve profitability.
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The document discusses flexible budgets and sales budgets. A flexible budget calculates variable costs depending on actual revenue levels, allowing the budget to vary based on activity. It identifies fixed and variable costs. A sales budget forecasts sales expectations in units and dollars by product or region. It is used to inform other budgets like production and materials. An example sales budget shows ABC Company's quarterly unit sales forecast, price per unit, total gross sales, discounts, and net sales for the year.
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This document outlines the sections and purposes of a marketing plan. It includes sections for an executive summary, current marketing situation, threats and opportunities, objectives and issues, marketing strategy, action programs, budget, and controls. The executive summary presents main goals and recommendations. The current marketing situation describes the target market, competition, and product performance. Threats and opportunities assesses external factors. Objectives and issues states goals and key issues. The marketing strategy outlines customer value creation strategies. Action programs details implementation plans. The budget shows financial projections. Controls allow monitoring and review of progress.
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This document provides guidance on developing a marketing budget for product launches. It discusses factors to consider such as the product category, type of launch activity, marketing objectives, target audiences, markets, creative strategy, and methods for determining budget amounts. Budget planning requires understanding category spending trends, historical data, sales goals, and objectives for reaching people at different awareness levels. The document stresses developing clear cash flow plans and paying media partners on time.
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The document discusses the purpose and benefits of sales budgeting. It states that sales budgets serve two purposes - as a mechanism of control and an instrument of planning. Budgets help define resource requirements and act as an effective tool for controlling firm performance. The document also outlines the types of budgets, including sales, selling expense, administrative, and profit budgets. It describes different budgeting methods like affordability, percentage of sales, and return-oriented. The key steps in developing a sales budget are also summarized.
1 overview of marketing
This document discusses the evolution and key concepts of marketing. It outlines 7 steps in the strategic planning process: 1) defining organizational mission, 2) establishing strategic business units, 3) setting marketing objectives, 4) performing situation analysis, 5) developing marketing strategy, 6) implementing tactical plans, and 7) monitoring results. Marketing strategy involves analyzing strengths, weaknesses, opportunities, and threats, and determining appropriate product, distribution, promotion, and price plans for each strategic business unit. The overall goal is to satisfy customers and achieve organizational objectives.
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Whats is Advertising Budget and how it is made and its process and techniques are explained in this presentation.
AJC 2011 Presentation - Building a Successful Marketing Strategy and Budget
Here are the steps to forecast monthly sales for Kristy Family Jewelry Store:
a) Based on the chart, the monthly percentage for Jewelry Stores is:
Jan: 6.1%, Feb: 8.8%, Mar: 7.1%, Apr: 7%, May: 9.3%, Jun: 7.4%, Jul: 7.5%, Aug: 7.7%, Sep: 6.6%, Oct: 6.9%, Nov: 7.9%, Dec: 17.7%
b) The annual sales forecast from Step 1 is $476,055
c) To calculate monthly sales:
Jan: 6.1% of $476,055 is $29,062
Feb:
Mmi finance 3
A budget is a financial plan that translates strategic goals into expected revenues and expenses over a period of time. The budgeting process involves setting goals, evaluating options to meet goals, and identifying the budget impacts of choices. Budgets are coordinated across departments and include operating, capital, and cash budgets. Operating budgets cover day-to-day expenses for one year, while capital budgets outline long-term investments. Preparing a budget requires setting assumptions, forecasting sales, and estimating costs and profits. Communication during the budgeting process is important.
Deliver Sales Objectives in ONE Hour
This document outlines a 5-step process for setting sales objectives in one hour. Step 1 involves defining sales responsibilities and priorities. Step 2 is planning how salespeople spend their time. Step 3 segments the customer base among different sales roles. Step 4 chooses and weighs sales goals based on criteria like sales increases and new sales. Step 5 sets numerical objectives for each criteria and salesperson role. Following these 5 steps provides a simple and rapid method for sales managers to analyze performance and set objectives.
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The Complete Guide to Developing a Marketing Budget
Marketing budgets are a business critical tool, as they help you determine what the costs will be for the various campaigns, programs and activities that the Marketing Department runs throughout the year. Unfortunately, most marketers don’t know how or where to begin creating a budget. While business courses in college may have touched on the subject, the reality is that most marketers learn how to develop a budget on the job, often through trial-and-error.
This blog will provide an overview and outline of the basic steps needed to develop a marketing budget from scratch.
Media planning
The document outlines the key components of a media plan, including media objectives, strategies, rationale, and a flow chart. It discusses that media planning involves deciding how to use time and space most effectively to meet advertising objectives. The components section defines each part of a media plan in more detail. Media objectives are the goals for the program, strategies are how those goals will be achieved, rationale explains why each medium was chosen, and the flow chart provides a visual overview of the plan.
Advertising budget
The document discusses methods for setting an advertising budget. It is a financial plan that allocates funding for advertising over a specific future period of time. It is prepared by the advertising manager in consultation with marketing and approved by top management. The most logical method is to first set advertising objectives based on market research, then determine the tasks needed to achieve those objectives, and use that to prepare the advertising budget.
Advertising budget
The document discusses different methods for setting an advertising budget, including the affordable method, percentage of sales method, competitive parity method, and objective and task method. It outlines the advantages and disadvantages of each. The objective and task method is considered the most logical as it focuses on determining advertising objectives and tasks, and then estimating associated costs. The document also discusses factors that influence the advertising budget, such as the advertising task, product life cycle stage, market share, competition, and financial resources.
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The Complete Guide to Developing a Marketing Budget
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Advertsing budget
- 2. Advertising budget is an estimate of financial requirements of advertising plans so that advertising objectives can be realized with planned strategies within a given period of time. The advertising budget is a statement of proposed advertising expenditure. It is a guideline for allocating funds to various functions and activities of advertising.
- 3. Key fundamentals of ad budget Ad budget depends on different variables such as finance availability percentage of sales, competitors' budget, return on investment and objective and-task approach. The budget must specify the figures of income and expenditure, financial capability and allocation of funds into various activities. It must specially contain the details on the allocation of funds to specific operations. Budget must be constructed within the financial capabilities of the company, otherwise the plans will remain unexecuted due to shortage of funds.
- 5. Preparation of budget The total expenditure of advertising is estimated on the basis of information of markets, product, pricing, image, message and media. (i) Budget Appropriation: Budget appropriation determines the total funds to be allocated for advertising budget. Advertising appropriation depends on the existing sales, unit sales, expenditure on advertising and affordable capacity. (ii)Specification of Expenditure: After determining the appropriation, the expenditure to be incurred on each function of advertising is specified. The total budget is divided into small budgets for each advertising function. Advertising budget is allocated among different market segments, time periods and geographical areas depending upon the market potential within that segment, period or area.
- 6. Presentation After the budget is prepared by the advertising manager, it is presented to the marketing manager. He decides the rationale and contribution of the budget components and modifies it on the basis of the prevailing marketing conditions and management requirements. The marketing manager may fix the budget and budget components in consultation with the financial manager. The budget may also be modified in the light of sales forecast, sales opportunities and the role of advertising in capturing the market share
- 7. BUDGET EXECUTION Execution of the budget considers the cost of advertising , production , purchase of advertising time and space and other functions. Since advertising is employed to increase sales , the budget must be compatible with the sales goals.
- 8. Control of Budget This is used to check whether actual expenditure coincides with the budget estimates or not. In case of critical changes in the market , which require adjustment in the budget, necessary modification should be exercised
- 9. METHODS OF ALLOACATION OF ADVERTISING BUDGET Percentage of sales method The objective – and –task method Affordable Method Comparative matching parity method Marginal Approach Judgement Method Return on Investment Method
- 10. FACTORS AFFECTING THE BUDGET SIZE Size of the market Extent of the market Financial Resources Stages in product life cycle Amount to be spent on promotion Role of advertising in the marketing mix Profit margin on sales
- 11. THANK YOU !!! For any sujhaw, sawaal and comment , use the comment box or write to me at vijyata.rwc@gmail.com