The Marketing Budget and Ethical Considerations
Marketing activities, like all other parts of starting up a fast-food restaurant, take money. However, unlike most other investments in a restaurant, restaurant marketing has several directions although the abundance of the choices leads to difficulties in planning a decent restaurant marketing budget with it main directed at ensuring the effectiveness of the enterprise through avoiding wasteful mistakes (Cannon, et al, 2014). Hence, planning for the marketing budget requires precise and wise marketing priorities since it should be 3% to 6% of the sales. This is a general rule that requires which is mostly regarded as guidelines for a good reason for marketing (Cannon, et al, 2014). In spite of this notion, successful and struggling restaurants spending under 3% of their sales are mostly related to under investment while those above 6% are desperate hence put their eggs in one basket. In this regard, the restaurant marketing budget will embrace the moderate value between 3% and 6%.
Secondly, the marketing activity will be undertaken in two phases on a monthly basis thus adhering to the rule of timely marketing. For example, the marketing business will spend less on marketing in offseason and more during the peak seasons (Cannon, et al, 2014). This because one cannot change winter into summer without a proper and a genius marketing idea. As earlier stated, marketing approaches will be made through advertising through various internet platforms such as social media as well as through promotion.
Other than marketing in the social media platform, the marketing department will establish a suitable location to promote the products and services effectively (Cannon, et al, 2014). For example, in learning institutions, social gathering such as weddings as well as other prospective locations with the ability to purchase the products. In this regard, marketing advertising on the website is estimated at $18,000 while the ordinary promotion is valued at $7,500. However, in order to examine the Return On investment (ROI) on each approach, a survey as well as web transactional data and traffic data in the internet assessment on its contribution and also administer task-completion rates in assessing promotion related marketing strategy.
Marketing Budget and Enterprise
Every business enterprise is subjected to promoting its products and services especially to the vulnerable populations who comprise of the economically, mentally, and physically challenged as well as minority, underage and the elderly residents (Biere, 2020). In this regard, the fast food joints will have special places for people with disability from the ordinary citizens to accommodate their conditions. Similarly, the restaurant’s products will strictly adhere to health nutrition value of the foods for the elderly and the minority through including special meals (Cannon, et al, 2014).
Lastly, the restaurants will organize special days to cater for the community development such as offering free meals to the orphanages during celebrations. In observing the Corporate Social Responsibility, the enterprise will employ qualified chefs from the locale will also be adhered to improve life conditions of the local community (Gil, 2019).
Biere, N. (2020). Branding on a Budget: Marketing in the Nonprofit Sector.
Cannon, J. N., Cannon, H. M., Friesen, D. P., & Feinstein, A. H. (2014). Would You Take a Marketing Man to a Quick Service Restaurant? Modeling Corporate Social Responsibility in a Food Service Menu-Management Simulation. Developments in Business Simulation and Experiential Learning, 38.
Gil, E. L. (2019). Introducing information literacy into a marketing budget class assignment: A case study. Journal of Business & Finance Librarianship, 24(1-2), 1-16.
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