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In this portion of your assignment, 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. This is the document you downloaded using the access code you purchased from the Strayer Bookstore.
You will complete only the Setup and Marketing Budget worksheets for this assignment; be sure to submit the entire Excel Template, however.
You have already worked on your marketing budget in the Week 5 discussion. Incorporate information from your post and the feedback you received into this section of your assignment.
Develop a marketing budget, supporting your marketing plan and sales goals, in which you:
Prepare the Setup worksheet for your selected company based on the appropriate guidelines instructions.
Prepare the Marketing Budget worksheet for your selected company based on the appropriate guidelines instructions. When filling out the Marketing Budget worksheet in the Business Plan Financials 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.