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The marketing budget is the estimated cost of meeting the sales forecast. This budget is normally prepared on an annual basis. The sales forecast is an estimate of expected sales over the planning period and indicates what management expects to achieve during the planning period. By combining sales forecasts and budgeted expenses for marketing and functional areas, management can prepare proforma (estimated) income statements and other financial projections.

The sales forecast and bought are important planning and control tools for marketing management. Budgets are often prepared for the major marketing departments such as advertising, sales, product management and marketing research.

From time to time, companies must undertake a critical review of their overall marketing effectiveness. Marketing is an area where rapid obsolescence of objectives, policies, strategies and programs is a constant possibility. Each company should periodically is a overall approach to the marketing effectiveness rating review and a marketing audit.

Actually marketing effectiveness is not necessarily revealed by current marketing performance. Good results may be due to a product being in the right place at the right time rather than having effective marketing management audit.

Improvements in that division might have poor results in spite of excellent marketing planning. Replacing the present marketing managers might only make things worse.

Advertising has become increasingly important to business enterprises – both large and small. Outlays on advertising certainly attest to the management’s faith in the ability of advertising efforts to produce additional sales. It would be difficult to conceive of a firm that does not attempt to promote its product in some manner or another. Most modern enterprises simply cannot survive without advertising.

Non- business enterprises have also recognized the importance of advertising. The attempt by army recruitment is based on a substantial advertising campaign, stressing the advantages of a military advertising. In fact, it is reasonable to say that advertising now plays a larger role in non-business enterprises than it ever did in the past.

Promotional strategy has become increasingly important to business enterprises – both large and small. The long-term rise in outlays for promotion is well documented and certainly attests to management’s faith in the ability of promotional efforts to produce additional sales. It would be difficult to conceive of a firm that did not attempt to promote its product in some manner or the other. Most modern institutions simply cannot survive without promotion.

Non business enterprises have also recognized the importance of this variable. The attempt by the armed services to increase enlistments is based on a substantial advertising campaign stressing the advantages of a military career. In fact, it is reasonable to say that promotion now plays a larger role in business including non-profit organizations than it ever has in the past.

Marketing communication are those messages that deal with buyer-seller relationships. Marketing communication involves sharing of meaning, information and concepts by the source and the receiver about products and services and about the firm selling them. Marketing communications are attempts by a firm to influence the behavior of the market for its products and services. The sales force, advertising and sales promotion are the three principal means of persuasion that are available to the firm.

Marketing communication process the marketing manager is the sender in the system. The message is encoded in the form of sales presentations, advertisements, displays or publicity releases. The transfer mechanism for delivering the message may be a sales person, public relations channel or the advertising of the media.