How to Develop the Marketing Budget

There are a number of methods used to determine the marketing budget, and businesses will need to think through which method best meets their business needs, and at what point in time of the business and product life cycle.
There is no one perfect approach to developing the market budget, but the more data you have on previous sales performance by segment, product and customer will help you make more coherent and strategic decisions about your marketing spend. Equally, you should seek to continually monitor your sales activity and the effectiveness of your marketing spend, again by product, segment and customer.
In this lesson we will look at approaches to developing the marketing budget, and steps you can take to develop your company’s marketing budget.

Learn more in our course on 'Develop a Marketing Plan': rb.gy/8uozrk