BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -Expert-Verified Answer. By exceeding the monthly marketing budget set for a company, a manager would fail to meet the budgetary and cost control of the project. the budgeting and cost control of a project includes estimations of the cost, setting up the budget and sticking to the budget.

Detailed explanation-2: -A marketing budget outlines all the money a business intends to spend on marketing-related projects over the quarter or year. Marketing budgets can include expenses such as paid advertising, sponsored web content, new marketing staff, a registered blog domain, and marketing automation software.

Detailed explanation-3: -It depends on the company’s goals. If it targets higher sales than your competitors, the company charges higher advertising spend. An advertising budget equal to the average competitor is to maintain current sales and market share. The competitive parity method assumes that advertising budgets correlate with sales.

Detailed explanation-4: -There are four common types of budgets that companies use: (1) incremental, (2) activity-based, (3) value proposition, and (4) zero-based. These four budgeting methods each have their own advantages and disadvantages, which will be discussed in more detail in this guide.

Detailed explanation-5: -The two key issues marketers face in regard to budgeting are the level or amount of the budget and how to allocate it in making it the decision related with budget.