The Marketing Budget and Ethical Considerations

The Marketing Budget and Ethical Considerations

Part of a marketing plan includes the creation of a realistic marketing budget. The more specific and accurate your numbers, the better chance you have to meet your projected budget.

• How much do you intend to spend on your marketing? You may break this down by quarter for one year.
• On what will you be spending your marketing budget?
• How will you measure the ROI for each approach? Be very specific in terms of where you will market, how much each type will cost (do your research here, and cite it), and how you will know its effectiveness (more than simply the number of hits).
• What ethical considerations in promoting your product or service should be considered based on vulnerable populations?

Solution Preview

Marketing plays a vital role to the growth and development of businesses entities. For this reason, companies must allocate sufficient resources to their marketing departments. Thus, our firm intends to use 10% of our revenue…