Revenue Budget and a Company's Ability to Meet Long-Term Goals
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Non-production expenses such as marketing, research and development, and general administrative costs can play an important role in a company's ability to meet long-term goals. Discuss how the budgets for each of these costs contribute to the company's success. Which do you think plays the greatest role and why?
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Solution Summary
This solution provides a detailed explanation of how the budgets for non-production expenses contributes to the company's success. The budget that is the most significant is also identified and discussed.
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The marketing expense is the most significant out of the three listed. While all play an important role, the marketing expenses incurred are directly related to how many products the company is able to sell. A company wants to invest as much as realistic in their marketing and advertising strategies. The more a company advertises, the more the company will establish brand identity, which is an automatic increasing agent for sales. The marketing budget must be ...
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