the size of the business is something that must be put into consideration. It also depends on the aspiration of the business owner. The person can decide to locate the business in multiple areas and that will take more money.
As a blogger I will always advise you to use search engine optimisation to get traffic organically. Except with you are promoting a product on your blog you shouldn't spend money to promote it.
I depends on the marketing strategy. Some marketing strategies are more expensive than the others so it depends on the one that they want to go for. It also depends on the type of business.
Exactly, the size of the company will play a key role in determining the amount to be set aside for marketing. Also, the types of product you're selling or producing is a factor in determining how much is set aside for marketing. Some product need little or no marketing.
It is very correct that the type of business to establish will go a long way to determining the amount that will be use or set aside for marketing campaign. If it's a big business that is in large production, you will need huge marketing campaign.
this is actually very true. Many businesses have their different strategies and I think that will greatly affect how much that is needed to begin a business venture. Some businesses may decide to use a cheaper option.
the strategy and money that a furniture shop would use is very much different from the strategy and money required for a coffee shop, as they sell different goods.
This is true
This is actually very true. It depends on the kind of business you are running or the kind of business you want to venture into. They all require different capital to get started. It also depends on the size of the business.
Aggressive marketing always turn to massive sales. Infact, business marketing should be done in strategic ways, not aggressive way. I have seen companies who spend aggressively on marketing but did not record to enough sales to recoup the amount spend on marketing.
Yes, aggressive marketing require a lot of money. And I don't think new business need aggressive marketing. As a someone who is new into business, the money you set aside should not be more than 10 percent. Aggressive marketing does not really favour new business.
Some business do not need aggressive marketing to do well while others need. I think the amount to budgeted for business marketing will depend on the kind of business you're doing. Another is the location. If there's high demand for your business in your location, then you only need moderate marketing.
of course you must be a strategic and aggressive whenever you are marketing in order to maximize profit. You can use every means possible to reach out to people to make your business or product known.
That's true, I don't think there is a specific amount of money that should be set aside for marketing a new business. I think it depends on how financially robust the business is and the roadmap of the business.
Been strategic is very important if you are to succeed with your marketing efforts, as opposed to been just aggressive alone when you are marketing
Yeah, but I believe as a business person you need to apply every strategy possible to maximize profit. There is nothing wrong in being aggressive in marketing because you can reach more people that way. But you must be strategic enough to get the needed result.
If you start a business without making proper research, then you are destined to fail except by providence of luck, or you have an existing knowledge into how the business is been ran
Not all business requires you to start with huge capital as there are some business that does not require you to go into with huge capital, so it depends on the business
I do not really think luck works in business because it requires consistency for you to succeed. if you do not do proper research of any kind of business you want to go into you may not be able to succeed.
luck does not work for the long run, as it is only a short term effect and if you do not put your team to help you grow your business intentionally then you might not succed.
Definitely, I actually do not believe that any businessman who succeeded did that just because of luck. you must build your business intentionally by putting the necessary things into place if you really want to become successful
There is no way you can be able to get proper idea of what you want to venture into if you do not think. Thinking is important and your thinking can also lead you to research. That is actually how it works in a business venture.
Yeah, carrying out surveys is always very important for business people because it will help them to determine so many things. It can help them to determine the cost of advertising a particular product and the demand for that particular product. That is why many business ventures spend a lot of money doing surveys
Probably, marketing is something every business venture needs to do if they really want people to recognise their product. At the initial stages you need to market aggressively in order to create awareness.
I think assessing the demand for a particular product is very important before you spend money on marketing. Even if you market what people are not interested in you're not going to get the necessary result.
Each different business has their own size and capability , and they also have different money to fund their business , so their purse will depend on how much they have to spend on their marketing .
Actually set a specific amount of money, thinking it will be enough to run a new business, is a wrong idea but you should try to be aware of uncertainties that may occur at the cost of starting the business that will require some amount of money to maintain.
The size of your business is always the first thing you need to put into consideration before setting aside some certain amount of money. If your business is a small business it may not cost a lot of money to start.
You have a very good point! but I still believe that advertisement shouldn't be based on the size of your business company alone, but it should be based on your production capacity .
That's true, but most of the time the size of your company determines your production capacity. Big companies have enough manpower and capacity to produce more than small companies.
A good amount of money needed to be set aside for the marketing department of an organisation but the amount of money will depend onnthe capability of the company .
You are right, depending the kind of business you want to start can also depends the size of money you want to use to start it, that is why it is very important before starting a business you need to put it into consideration before starting.
The amount of money you have most times determine the size of your business. It also depends on your ideas and business strategies. But the amount of money is the first thing that is always put into consideration.
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.
Well said, marketing is extremely important for every business owner. Without marketing, it would be impossible to reach out to your target audience and in turn make profit from the business. So the idea of setting money aside for just marketing is a very good one.
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.
