Marketing Plan Budget

Marketing Plan Budget

Marketing plan Budget: Qantas Airline

According to Harvard Business Press (2009, p.4), budget is the financial blueprint or action plan for a department or organization that translates strategic plans into measurable expenditures and anticipated returns over a period of time. Below is a budget forecast for the marketing plan of Qantas Airline for five years.

Budget Narrative

Travel costs: These are costs that will be incurred by the marketing team as it travels to the field to meet existing and potential customers.

Website cost: This is cost related to site design, webhosting, security and maintenance. A website is a digital business card, product catalogue as well as resource information centre. It should be more appealing to the eyes of the customers and easy to navigate and this will guarantee increased revenue.

Advertising cost: This includes journal, magazine and television advertisements. As Stephen Shaw said, “…investment in marketing communication will be justified because this can used to persuade customers to give the airline another chance and experiment today’s improved product services (p.262).

Supplies costs: These are costs brought by day to day running of the marketing department. It includes costs of purchasing and maintenance of computer and printers, stationary and brochures.

Events cost: This is cost incurred by the company to brand its image and surpass its competitors and finally enhance customer loyalty. These include promotions to honour existing and potential clients, holding breakfast seminars and trainings.

Public relations and Services cost: These include costs that are bought out such as public relations help and catering services. This reduces operational costs of the company because when these services are bought out, the staffing cost is reduced.

Others cost: These are miscellaneous costs that are made available as a buffer to cater for any deviation from the postulated budget. This may include taxes that may arise.