|
|
Starting Your Own Business ? Hints & Tips Entrepreneurial Advice Suzie's Blogs ... |
|
|
|
Starting Your Own Business ? Hints & Tips Entrepreneurial Advice Suzie's Blogs ... |
|
How much money are you willing to invest in your market research? How much can you afford? Your market research budget is a portion of your overall marketing budget. A method popular with small business owners to establish a marketing budget is to allocate a small percentage of gross sales for the most recent year. This usually amounts to about two percent for an existing business. However, if you are planning on launching a new product or business, you may want to increase your budget figure, to as much as 10 percent of your expected gross sales. Other methods used by small businesses include analyzing and estimating the competition's budget, and calculating your cost of marketing per sale. Like to eat safely? Visit my Healthy Food Blog Suzie Suzie's Family of Informative Blogs Posted: Tuesday 8th February 2005, 12:17 AM |