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What does the budget plan include??
Dear Mr. Zafar,
first of all You have to verify your vision, by another words ( where are you going?)
For trade Marketing, Shopper Marketing or Mix?!
In all of them you will use the8p's (product, price, promotion, place & time, packing, productivity & quality, physical environment and people)
Depend to your product you can classify points for each articles. Check how much you have then divide the amount reference to your points selection.
The true selection it's the key for your planning.
Regards,
please keep in mind and select the product wrap up budget, and now the chennell cost where you would like to present your product.
First of all, Decide your objectives, what are the activities or tools to be be used to achieve these objectives, then you calculate or estimate the cost of each activity. finally, prepare an action plan which includes the timetable and cost of each activity distributed over12 months.
as always study the channels you are going to use,for social media,direct marketing,rented spot marketing at malls or high traffic areas....etc.
there are so many variables but the best is to do your research first and the do your cost analysis.
Marketing Budget mainly covers salares, commission and boonuses, marketing communication (branding, wed sites, promotons, events, web sites etc), Travel, telephone, trainings expenses etc.
Your product and the market you operate determines your marketing mix! But for a generic plan, I advise it should include ATL, BTL, and Digital. For a retail product upto25% of the total spent can be on digital having said that lot of consumers still prefer experiential and touch and feel marketing before they take a "buy" decision. Hence micro-marketing BTL should consume about another25% of your budget in a retail environment. The balance can be on traditional advertising like print ant Television depending upon your product.
product cost,volume of product,expences for product manufacturing logistics,sales and marketing expenses.revenue generation.branding cost.total budget fora year.
