Financial Analysis for Successful Marketing


Overview/Description
Target Audience
Expected Duration
Lesson Objectives
Course Number


Overview/Description
Whether you have a "head" for numbers, or a "dread" of numbers, no strategic marketing plan will be successful without a thorough financial analysis. The final course in this series takes a user-friendly, interactive approach to help you master the numbers game. You will analyze typical financial parameters associated with setting up a financial budget as part of an overall marketing strategy. This includes assessing financial resources, the development of a financial schedule and an allocation plan, the calculation of important financial ratios, pricing and evaluating and testing the marketing plan after implementation.

Target Audience
Entrepreneurs, business people, anyone interested in starting a business and marketing it.

Expected Duration (hours)
4.5

Lesson Objectives

Assessing Your Financial Resources

  • recognize the value of resource assessment in planning a marketing budget.
  • identify the key concepts associated with analyzing financial resources.
  • select statements that accurately characterize several important budgeting methods.
  • match concepts that help ensure effective cash flow timelines in a marketing budget to their uses.
  • identify statements that describe key decision-makers.

    • Developing a Budget and Keeping It on Track

  • recognize the benefits of knowing the essential elements of a marketing budget.
  • identify definitions of components of payback analysis methods.
  • identify the ways that payback analysis can strengthen the total marketing budget.
  • choose statements that identify ways of using forecasting models to shape marketing budget projections.
  • identify components of a successful budget development and monitoring plan.

    • Using Financial Ratios in a Marketing Plan

  • recognize the value of calculating financial ratios in budget development.
  • identify the purposes of key financial ratios in market budget planning.
  • choose the correct applications of financial ratios as they relate to marketing a product.
  • select the factors to include in a cost-benefit analysis.
  • sequence the steps needed to align a marketing budget based on the results of financial ratios.

    • Pricing and Evaluations

  • recognize the critical importance of product pricing and evaluation of the marketing budget.
  • identify, from sample product descriptions, the key steps in creating a pricing strategy.
  • match different testing programs with the information they reveal.
  • identify the most important reasons for post-implementation testing.

    • Course Number:
    MKT0208