Relationship between Marketing Planning and Annual Budgeting
Abstract
Marketing planning and the annual budget are two procedures that organizations engage in. Although controlled by the marketing department and the finance department respectively, the marketing plan and annual budget are interlinked in many ways. Investigates the importance of this interrelationship. Reports on the results of a study of 41 fast moving consumer goods companies following a literature review of budgeting and marketing planning. The results show that there is a high degree of interaction between the marketing and finance departments. They also show that most companies tended to do the marketing plan and annual budget together. In addition, the sales forecast, although controlled by the marketing department, is set to meet financial targets.
Keywords
Citation
Abratt, R., Beffon, M. and Ford, J. (1994), "Relationship between Marketing Planning and Annual Budgeting", Marketing Intelligence & Planning, Vol. 12 No. 1, pp. 22-28. https://doi.org/10.1108/02634509410052621
Publisher
:MCB UP Ltd
Copyright © 1994, MCB UP Limited