I need to have a budget for our Marketing Plan.
The final phase of the marketing plan for the SMC Millennium will conclude with the marketing mix components of place and promotion and discuss public relations along with advertising. Development of a budget is also a critical element that will be discussed and the all important, but often overlooked tasks of evaluation, monitoring and control to determine effectiveness of the marketing plan.
Here is an overview of my product for this simulated company:
SMC Overview can be found at this posting ID # 61997, and viewed at this link for free: http://brainmass.com/business/marketing/61997
My product is: The SMC Millennium
SMC's new SUV will be named the Millennium.
The business plan will precisely define your business, identifies your goals, and serves as your firm's resume. The basic components of plan include a current and pro forma balance sheet, an income statement, and a cash flow analysis. It helps you allocate resources properly, handle unforeseen complications, and make good business decisions. Because it provides specific and organized information about your company and how you will repay borrowed money, a good business plan is a crucial part of any loan application. Additionally, it informs sales personnel, suppliers, and others about your operations and goals.
There are 3 major components of strategic funds:
1. Investment in tangible assets, such as new production capacity etc.
2. Increases (or decreases) in working capital generated from strategic commitments, such as the impact of increases in inventories and receivables resulting from an increase in sales and so on.
3. Development expenses that are over and ...
This discusses the 3 major components of strategic funds for the SMC Millennium and deciding on marketing budgets and plans. The financial objectives of the company are also discussed and references are provided in about 670 words.