After determining all related costs, create an MS Excel spreadsheet(s) using the Small Business Administration (SCORE) free template (in MS Excel spreadsheet) below for the marketing plan budget. The marketing budget should resemble a business plan budget, where items are categorized into different columns based on their similarities. Examples may include the cost of computers, phones, tablets and laptops being categorized under technology cost, or radio, television, banners, and print ads being categorized under advertisement needs. The cost for all overhead must be realistic based on operational cost and market trends. You may utilize the sample marketing budget template below.
SBA (SCORE) Sample Marketing Budget template: https://www.score.org/resources/annual-marketing-budget-template
It is important that you conduct market research to identify cost variables, which is where consulting with a marketing professional could prove helpful. Using MS Word for the written explanatory documentation of this assignment, identify your contacts name, company affiliation, number of years in practice, business location and phone number. Briefly, explain how you determined which cost categories to use and how your budget can be improved to become profitable for your new business venture.
Support your paper with at least three (3) resources. In addition to these specified resources, other appropriate scholarly resources, including older articles, may be included. Your paper should demonstrate thoughtful consideration of the ideas and concepts that are presented in the course and provide new thoughts and insights relating directly to this topic. Your response should reflect scholarly writing and current APA standards. Be sure to adhere to Northcentral University’s Academic Integrity Policy.
Length: 3-5 pages not including title and reference pages, PLUS 1-2 spreadsheets.
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