What is budget ?

• A forecast of the year’s financial results

• A plan of the year’s work
• An expression of upper management’s objectives
and priorities
• A control and measurement tool
What are the financial goals of any company ?
- Revenue
- Profits
- Expenses
Compare between the two budgeting strategies
Top-Down budgeting Bottom-up
budgeting
Step 1 A company’s upper Department
management establishes managers
specific financial goals prepare budgets
that reflect the
needs and goals
of their
department
 Top-Down budgeting Bottom-up
budgeting
Step Departments heads Upper
2 develop budgets that management
support management’s reviews and
consolidates the
priorities and allow them to departmental
meet its goals budget to create
an over all
company budget
 Top-Down budgeting Bottom-up
budgeting
Step Management reviews the Management
3 departmental budgets and directs
works with department departments to
managers to finalize them modify their
budgets , as
needed , to meet
the company’s
objectives
 What items we should keep in preparing a
company budget ?
Keeping an eye on the economy and how your
company responds to it
Keeping up with the latest trend in your industry
Getting to know your company’s culture
Using SWOT analysis
 What is marketing ?!

The process of planning and executing the

conception , pricing , promotion and distribution
of ideas, goods and services to create exchange
that satisfy individual and organizational
objectives
What is the marketing mix and discuss the 4p in
details

Marketing mix four marketing activities product,

distribution , promotion and pricing that a firm can
control to meet the needs of customers within its
target market
Product Price Place Promotion
 Product
Include : Name
Features
Packaging design
Quality
Services
Warranties
 Price

Include : list price

Discounts
Allowances
Payment period
 Place

Includes : distribution channels

Geographic coverage
Locations
logistics
 Promotion

Includes : Advertising
Direct marketing
Public relations
Personal selling
 What is market share ?

the portion of a market controlled by a particular

company or product
What is market research and explain its 2 kinds in
details ?

The way by which the firm can observe the

percentage of the product in the market
 Quantitative Research
- Based on numerical data
- Provides statistical information
Types of quantitative research

Telephone Online Mail Survey

survey survey
 Qualitative Research
- Collects open ended responses
- Attempts to understand behaviors and
reasons for behaviors
Types of qualitative research

Focus group One- on – one Mystery

interview Shopping
 What is a customer loyalty ?

A company strategy of building strong relationship

with customers so they repeatedly purchase products
and recommend them to others
 What are the benefits customer loyalty ?

Retention
An ongoing relationship with a customer creates a
steady of revenue over time as the customer
continuous to buy products

Related Sales

Selling new products to existing customer is a great

source of revenue
 Referrals
A satisfied customer who recommends a product to
another person provides the most influential
marketing a company can ask for and it’s free
What are the main techniques and strategies of
good sales campaign ?

1- Listen to them
2- Make them feel comfortable
3- Build relationship
4- Avoid the word Problem
5- Not to talk about prices