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What are the key factors in marketing resources?

Published on August 31, 2023   5 min

A selection of talks on Marketing & Sales

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0:00
Hello, and welcome to this session. What are the key factors in marketing resources? My name is Annmarie Hanlon, and I teach marketing at Cranfield University's School of Management in the UK. Some of these themes are taken from my book, Digital Marketing. Let's get started.
0:21
In this session, we'll look at different methods of budgeting, and then we'll look deeper into resources with the 9Ms framework. Finally, we'll consider metrics, analytics and insights.
0:37
When the strategy, objectives and tactics are agreed, it is essential to formulate the budget and identify the resources needed. Budgets are created using different methods: objective and task, budget available, percentage of turnover, and last year's budget. The objective and task budget method looks at what are the objectives and tasks to be achieved and what funds are needed to deliver them? The budget available method simply states, "This is the budget we have available," and it means that the team needs to be creative to ensure their objectives can be achieved with the budget available. The percentage of turnover method involves taking a percentage of turnover. If the total revenue or sales are $10 million, the budget is $1 million. The last year's budget method often considers the monies allocated in the last financial year, which is simply repeated again in the next financial year.

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What are the key factors in marketing resources?

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