Marketing Budget Basics is the most concise overview of marketing budgets that I’ve ran across.

I was searching my desktop for some of my notes on marketing budgets when I ran across a pdf document entitled Marketing Budget Basics: Financial Muscle for Marketing Plan Implementation. No author information was provided.

I don’t remember how I got Marketing Budget Basics so I don’t know that I have the right to give you a copy. I did a search with Marketing Budget Basics within quote marks, but Goggle returned no results. So I don’t know where to send you to get a copy.

But I can tell you about it. In fact, I plan two posts to provide an overview of Marketing Budget Basics and then a few more posts on marketing budgets.

Marketing Budget Basics cites The Spring 2001 issue of Capstone Quarterly and a couple of 2001 studies. So I assume it was written in 2001 or 2002.

I did a search for Capstone Quarterly and learned that it’s a newsletter for CapStone Bank. So Marketing Budget Basics appears to just cite the newsletter, not to have been published in the newsletter or by Capstone Quarterly.

Some of the marketing budget information in Marketing Budget Basics includes:

Two ways of determining marketing budgets.

1. Amount spent in the prior year and increase/decrease, as appropriate.

2. Amount required to meet strategic marketing goals and objectives.

Setting budgets on strategic marketing goals and objectives provides the better way of determining the funds committed to a marketing budget.

To use this method of setting your marketing budget, you follow five steps. I’ll cover the first two steps in this post and the last three in my next post.

Step 1 Of Setting Your Marketing Budget
Set Goals And Decide On Strategies

Ideally you just pull these from your marketing plan. But if you don’t have a marketing plan, the steps involved in setting your marketing budget will start one.

Step 2 Of Setting Your Marketing Budget
Research Costs To Achieve Goals And Implement Strategies

Include the costs for each strategy to meet each goal. Also include the costs for each tactic to meet each objective.

You may not include all tactics and strategies in your final marketing budget, but you need to know the costs for each in order to decide which will provide the greatest return on investment and which can best be cut with the least harm to the marketing campaign.

To read the next three steps of setting your marketing budget, click the link below:

Marketing Budget Basics: Review and Overview 2

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Posted 11-28-08:
Marketing Budget Basics:
Review and Overview 1

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