How much do you think should be set aside for marketing for a new business?

[Michael94]

It is advised to set aside 7-8% of gross income for marketing and advertising, although there is no specific amount that should be set aside for marketing a new business. However, this percentage can change depending on a number of variables, including your company's stage and sector.

 

[Chibson]

Yes, to get the best from business marketing, you must combine strategic with aggressive. The two will help in many ways. If you're just aggressive without being strategic, your promotion won't bring much profit.

Yes, to get the best from business marketing, you must combine strategic with aggressive. The two will help in many ways. If you're just aggressive without being strategic, your promotion won't bring much profit.

Probably, you will always make a lot of mistakes if you are aggressive but you are not strategic. Employing some strategies is very necessary if you want to make profit from a business venture. Being aggressive is also good but without strategy you will make many mistakes.

 

[Kane]

Marketing is essential to generate sales and marketing requires a huge spending. While big companies have the ability to spend a lot of money on marketing, small companies and individual business owners are not in a position to spend a lot of money. They will have to seek guerilla marketing.

 

[rightminds]

No amount is too much to budget for marketing. In as much as we know that while there's no sales, there's no business, hence marketing is an important aspect of every successful business.

 

[Good-Person]

No amount is too much to budget for marketing. In as much as we know that while there's no sales, there's no business, hence marketing is an important aspect of every successful business.

I think that it also depends on the range as well and you much you would like to market your business as well. If you tend to market your business at an international level, then you may need to have unlimited amount of cash for that.

 

[Mostee501]

Marketing is an investment in the growth and success of your business. It's crucial to strike a balance between allocating a sufficient budget to achieve your marketing objectives and ensuring that the investment is financially sustainable for your business in the long term. Consider carefully evaluating your unique circumstances and consulting with marketing professionals or experts in your industry to determine an appropriate budget for your specific business.

 

[Heatman]

the kind of business you want to go into will determine how much you will need to set aside. The size of the business will also determine the amount of money you need to get started.

As far as I'm concerned there is no amount of marketing that is going to be considered too much for any business that is new as long as it is something that is still going to be in line with the cost of production.

 

[Good-Person]

Marketing is an investment in the growth and success of your business. It's crucial to strike a balance between allocating a sufficient budget to achieve your marketing objectives and ensuring that the investment is financially sustainable for your business in the long term. Consider carefully evaluating your unique circumstances and consulting with marketing professionals or experts in your industry to determine an appropriate budget for your specific business.

I think that marketing is a really broad term. The fact of the matter remains that it involves various aspects related to business. Marketing also involves branding your business. Both of them are related to each other in many ways. Many successful companies were involved in marketing and this is how they managed to create a brand.

 

[Heatman]

I think that it also depends on the range as well and you much you would like to market your business as well. If you tend to market your business at an international level, then you may need to have unlimited amount of cash for that.

This is something that's very correct. The level and extent of your business marketing campaign goes to a very long way in determining the cost it's going to take to pull it off. If you don't meet the cost, the marketing won't succeed!