develop budgeting strategy and evaluation strategy –

Before beginning this assignment, please read the requirements of the milestone project in Week 8 so that you have a better understanding of how this assignment fits into the final marketing plan.

Marketing Budget Plan:

  • Describe how you plan to allocate your budget to each promotional activity. Provide a brief rationale.
    • First, when developing a marketing budget plan, you want to start with the total budget available to spend on a campaign. This budget figure works as a constraint to keep your plans in line with the available resources.
    • Second, think about the promotion mix you have in mind. Will there be public relations or advertising? Digital or traditional? Any sales promotion activities? And so forth. List the different methods and key tools you plan to use, and then determine how much of your budget you plan to spend on each (please use a table or pie chart to demonstrate how you will allocate the budget).
    • Finally, please provide justification for your decisions in your budget plan.

Marketing Assessment Plan:

  • Assess the performance metrics that can be used to evaluate the success of your marketing plan.
    • Discuss/assess at least three metrics to measure marketing strategy.
    • Recommend the appropriate metrics to use for your marketing plan.

    ReferencesJunge, M., Severgnini, B., & Sørensen, A. (2016). Product-Marketing Innovation, Skills, and Firm Productivity Growth. Review of Income & Wealth, 62(4), 724–757
    Brooksbank, R., Subhan, Z., Garland, R., & Rader, S. (2015). Strategic marketing in times of recession versus growth: New Zealand manufacturers. ASIA PACIFIC JOURNAL OF MARKETING AND LOGISTICS, 27(4), 600–627
    Hanssens, D. M., & Pauwels, K. H. (2016). Demonstrating the Value of Marketing. Journal of Marketing, 80(6), 173–190.
    Mintz, O., & Currim, I. S. (2013). What Drives Managerial Use of Marketing and Financial Metrics and Does Metric Use Affect Performance of Marketing-Mix Activities? Journal of Marketing, 77(2), 17–40.