Small Business Series: Budgeting for the Marketing Mix
- Michael Goodman
- Valerie Witt
- Fri., Sep. 14, 2007, 12pm ET (9am PT)
- 90 minutes
In this seminar, we'll deal with some of the most common questions asked by entrepreneurs and small business marketers: How much should we spend on marketing? Is it a percentage of sales? How do we get benchmarks for our industry? How do we know if we're over-spending, under-spending, or right on the money?
Michael Goodman, a veteran marketing consultant and one of the top experts on the MarketingProfs Know-How Exchange, will share his experience from a range of industries, categories and businesses that have grappled with these questions.
He'll also share a simple way to track and measure the effectiveness of some common marketing mix elements, and discuss the pros and cons of using a formal marketing ROI approach for each marketing mix element. As always, he'll share specific examples and case studies from real companies that have had to determine how to set and spend their marketing budgets for maximum effectiveness.
Be sure to check out the other events in this series:
Michael Goodman is a senior marketing and management consultant with experience that spans the spectrum from micro-businesses and start-ups to the Fortune 25. He learned marketing at corporate giants Procter & Gamble, Frito-Lay and Playtex. He has consulted with clients in both business-to-business and business-to-consumer; local, regional, national and international markets; and industries ranging from industrial chemicals and consumer packaged goods to financial services and healthcare.
Who Should Attend?
This seminar will address both B2B and B2C markets. It's intended for:
- Marketers and general managers in small- and medium-sized companies
- Entrepreneurs who are planning to start a new business
- Service professionals and consultants in small practices
- Consultants and marketing service providers who serve the small business community
What Will You Learn?
- How much a small business should spend on marketing
- How to determine which marketing mix elements to emphasize
- Whether each marketing mix element must payout
- When to estimate the marketing ROI, and when it's more trouble than it's worth
- A simple way to measure the effectiveness of key marketing activities
This series is a must for marketers and entrepreneurs in small and medium-sized companies where everyone has to pitch in and make sure the work gets done and products and services are delivered as promised. Taken together the sessions promise to deliver a virtual "SBMBA"—a Small Business MBA.
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