7. Setting the marketing budget and schedule
Themarketing plan must include a realistic budget that accommodates alltheplanned marketing activity and a schedule for its implementation. Ask the participants to use exact costs / expenses but where this is not possible, realistic estimates will be acceptable.
The Marketing Plan Schedule will help the participants to develop and produce a schedule for implementingtheir effective marketing plan. When they complete it, they should be able to identify the required budget and compare it with their available marketing budget. Hopefully, the two figures will be closely aligned but if the cost is greater than the budget, they will have to be ready to make important decisions with their colleagues.
Ask the participants to ensure that theMarketing Plan Schedule identifies:
� Each planned specific marketing action.
� Participants ‟ responsibilities for the completion of each of these marketing actions.
� A timescale for each activity. Remind them of the start and end date and identifying whether the activity is a one off or if it will be repeated. If it will be repeated, ask them to include the repetitions in their schedule.
� Key events and milestones during the year.
� When / if any additional or external expertise is needed, and where they will be accessed from – through the mentor, sponsor, network etc.
� Cost per marketing activity and total overall cost.
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