Appropriation is the act of designating funds or money for a specific purpose. It is similar to the concept of budgeting. In marketing, there are numerous areas which need to be funded on a monthly, quarterly and yearly basis. The act of distributing the funds given to marketing to the right job is one of the harder parts of being the manager of a marketing group. Ensuring the right balance of each area is important to foster the image of the firm as well as to keep a balanced budget.
One of the most recognizable areas of marketing is the area of media buys. In this area, marketing purchases advertisements in newspapers, magazines and websites. It is up to the marketing manager to appropriately budget for regular and effective media buys that target the company’s audience. Being sure to focus funds on the right medium, as well as the right time frame, is the most complex part of this process. Spending a large portion of the budget on a one-time ad leaves little room for error, so most spread it out throughout several mediums.
In many firms, graphic design work is completed by highly skilled freelance designers. These designers help build the image of the firm through their work and reinforce the brand with their words. This plays a large role in the marketing budget of firms. Once the media buys are complete, the graphic design team will work to ensure that there are properly formatted advertisements to fill those spaces. This act of budgeting needs to be considered hand in hand with media buys.
Website and Online Presence
In the business world, a company is almost required to have a website for communication with its customers. The information contained on the website is a great way to communicate the brand and the products or services of the company. The marketing department is typically in charge of the content and look of the site, hand in hand with the graphic design department. In many cases, the graphic design work used in media buys can be used on the website as well. It is up to the marketing manager to ensure that the website gets proper placement in the budget.
Salaries, Housekeeping and Basics
It is not automatically assumed in some budgets, however, the marketing department has similar line items as a basic business budget. The marketing appropriations committee must remember basic budgeting items such as salary, benefits, office supplies and insurance.
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