Module 5 Discussions - In 200 words or more explain how...

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In 200 words or more, explain how budgeting can be used at your employer or a previous position you've held. As the Marketing and Sales Coordinator for my last company, I had to plan, coordinate, and manage all of the sales and marketing campaigns for the year as well as decide which trade shows and conferences to attend. In doing all of this, I had a specific budget to work with which was decided upon by management at the beginning of the company’s fiscal year. Regarding trade shows and conferences, I had to budget for costs including rental space for the shows, travel for employees, hotels, car rentals, meals, shipping for trade show merchandise, costs for employees attending classes at conferences, carpeting for the booth area, electrical, business card scanning machine rental, mailings for invitations for attendees to visit our booth, the list goes on. All of this costs money and a lot of it. Regarding the sales and marketing campaigns, budgeting included costs for artwork for the mailers, the cost for the mailing, and specific costs depending on the campaign itself. I would research the shows and conferences where wanted to show and have employees attend up to two years in advance but management would always throw extra shows at me with little to no notice. Same with campaigns, as much as I knew in advance what to budget for, management would always throw some extra campaigns at me that would severely mess with my budget. Being that the marketing department spends money but generally does not make money, if the company was doing less-than-projected in another area, marketing would be the area where the budget would be cut making it that much harder to fit all that management wanted into a tighter budget. To keep management happy and to keep my budget from being cut many times, I had to prove that the trade shows and conferences we were attending were beneficial to the company. I did this by keeping track of who was attending our booth using the business card tracking device I rented at each show. I then crossed this with the orders for three months, six months, and one year after each show with the orders that were received to show a correlation to someone visiting our booth and ordering from us shortly after. I also kept track of all of the costs mentioned above
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and measured those costs to the orders received to show that attending these shows was beneficial to the organization. I measured the marketing campaigns the same type of way.
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  • Spring '07
  • Bloom
  • Trade union, Strike action, National Labor Relations Act, public employees, County Sanitation District, Douglas Silber

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Module 5 Discussions - In 200 words or more explain how...

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