develop a marketing budget|Essay guru

You will develop a marketing budget. This budget is critical to helping you determine how much it will cost you to reach your market and achieve your sales goals. To create your marketing budget, you will use the Business Plan Financials Excel Template. IT WILL BE ATTACHED

Reminders

• You will complete only the Setup and Marketing Budget worksheets for this assignment; be sure to upload the entire Excel Template.

Instructions

Develop a marketing budget, supporting your marketing plan and sales goals, in which you:

1. Prepare the Setup worksheet for your selected company based on the appropriate guidelines and instructions.
2. Prepare the Marketing Budget worksheet for your selected company based on the appropriate guidelines and instructions. When filling out the Marketing Budget worksheet in the Excel Template, do the following:
   • Begin with the current year and complete a marketing budget for the business’s first two years.
   • Leave at zero any marketing vehicles you do not plan to use.
   • Reminder: All marketing activities involve costs. If social media represents a significant portion of your marketing plan, assume you will incur advertising costs; reflect these in your marketing budget. Even if a social media site charges nothing to use it, you will need to use company resources to manage the site, execute your social media marketing campaigns, and most likely pay for ads on that site.
   • Do not leave the Marketing Budget worksheet blank assuming you will not have any marketing costs.
   • Do not complete all the rows; only fill in the costs for the marketing vehicles you will actually use. These must match the content you described in Item 4 of Section 1 of this assignment. (I WILL ATTACH)

     Warning

     		W A R N I N G !
     		IT APPEARS THAT YOU DO NOT HAVE EXCEL’S MACRO CAPABILITY ENABLED. THESE FINANCIAL WORKSHEETS WILL NOT FUNCTION WITHOUT MACROS ENABLED.
     		Excel 2010 for Windows: To enable macros: 1. Click the “Enable Content” button in the Security Warning that appears at the top of this page.
     		If you do not see the “Security Warning” along the top of this page, scroll down for more detailed instructions, under “Excel 2010 and Excel 2013 on Windows – Enabling Macros”
     		Excel 2013& 2016 for Windows: To enable macros: 1. Click the “Enable Content” button in the Security Warning that appears at the top of this page.
     		If you do not see the “Security Warning” along the top of this page, scroll down for more detailed instructions, under “Excel 2010 & Excel 2013 on Windows – Enabling Macros”
     		Excel 2011 & 2016 for Mac: 1. A pop-up window appears. Select “Enable Macros”. 2. Your workbook should now be ready to use.
     	Excel 2013 and Excel 2016 on Windows – Enabling Macros
     			Note: The procedure is exactly the same for Excel 2013 & 2016, even though the two versions look slightly different. 1. In the upper left corner of the Excel Ribbon, press the “File” tab.
     			2. Select Options, in the lower left corner.
     			3. Select Trust Center from the Lower Left. 4. Click the “Trust Center Settings…” button in the lower right
     			5. Select “Macros Settings” from the left side menu 6. Select the “Disable all macros except digitally signed macros” radio button. 7. Click “OK” twice

     Your Company Name

     Welcome

     	Welcome to Business Plan Financials!
     	Thank you for purchasing Business Plan Financials from PlanningShop. These worksheets will help you develop clear, compelling financial projections for your business. If you are unfamiliar with the business planning process, we encourage you to refer to our book, Successful Business Plan: Secrets & Strategies, by Rhonda Abrams, for comprehensive, step-by-step guidance. It is available through our website, www.PlanningShop.com. First, a few tips to get you started: SAVING A BLANK WORKBOOK, TO ALLOW FOR RECOVERY FROM MISTAKES You may start directly editing this file. If you later decide to start over and need a fresh copy of this file, find the blank “ORIG_PlanningShop_BizPlanFin(2.8)” file in your PlanningShop directory. Make a copy of this file (just in case you might need to start over yet again), and then start editing the copy. NAVIGATING THE WORKSHEETS You installed the Windows version of Business Plan Financials. The Excel Ribbon now contains a “PlanningShop” tab, that contains controls to let you navigate between worksheets. The PlanningShop Ribbon looks slightly different in Excel 2013 and Excel 2016, but the functionality is the same.
     	Note that the riboon does not appear in Excel 2011 for Mac, due to limitations of that version of Excel.
     	Excel 2013 for Windows, Excel 2016 for Windows, Excel 2016 for Mac:
     	In Excel 2011 for Mac, there is no PlanningShop tab on the Excel Ribbon (Microsoft does not allow it). Instead, to navigate between worksheets and charts, use the Excel worksheet tabs along the bottom edge of the Excel window.
     	HOW TO FILL IN THE WORKSHEETS Each worksheet is composed of “cells” containing either black text or blue text. All you need to do is enter data in the blue cells–the black cells are automatically calculated for you.
     	While you work, keep an eye out for red triangles that appear with some cells on the worksheets. These triangles indicate the presence of a “help balloon” that will popup when you roll over the triangle, presenting you with additional information and tips about the section you are working on.
     	FOR MORE HELP For more in-depth help and assistance,please refer to the companion PDF entitled “Business Plan Financials Help”. It contains extensive information about each worksheet, along with a “Frequently Asked Questions” (FAQ). To get started, click on the right-pointing arrow in the PlanningShop toolbar to reach the “Setup and Assumptions” worksheet, where you’ll enter some basic information about your business.
     	About Our Support of Mac vs. Windows
     	PlanningShop supports Business Plan Financials on the following platforms:
     	Windows
     	1. Microsoft Windows10 with Microsoft Excel 2016 / Microsoft Office 365
     	2. Microsoft Windows 8 or later with Microsoft Excel 2013
     	Mac

     SOLUTION

     To develop a marketing budget, follow these steps:

     1. Define your marketing goals and objectives: Determine what you want to achieve through your marketing efforts, such as increasing brand awareness, driving sales, or retaining customers.
     2. Conduct market research: Gather information about your target audience, industry trends, and competition. This will help you make informed decisions about how to allocate your budget.
     3. Determine your marketing channels: Identify the marketing channels that are most effective for reaching your target audience, such as social media, email marketing, events, or advertising.
     4. Calculate the cost of each channel: Estimate the cost of executing each marketing campaign, including creative development, production, and distribution.
     5. Allocate your budget: Based on the information gathered in the previous steps, allocate your budget to the most effective marketing channels.
     6. Review and adjust: Regularly review your marketing budget and adjust as needed based on results and changes in the market.