Marketing Finance and Budgeting (for Nonfinancial Staff)
Short course
Inhouse
Description
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Type
Short course
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Methodology
Inhouse
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Duration
1 Day
To equip learners with a working knowledge of how marketers turn great ideas and products into profit. The programme will explore marketing finance concepts and terminology and how to use financial reporting and control to help make better decisions and set direction. Suitable for: Product, category, sector and marketing managers, marketing budget holders, sales managers and marketing staff with limited prior financial experience
Reviews
Course programme
Understanding the financial tools and procedures needed to improve marketing decisions and strategy.
To have a serious impact on your company’s business, you need to be financially literate in order to improve your decision making… then you can go for gold!
Why should you attend?
- To increase your abilities to assess marketing opportunities according to the financial implications of the options
- To familiarise yourself with your organisation’s financial requirements, e.g. annual budget, quarterly reviews, variance analysis, return on investment
- To become more confident in interpreting and debating marketing decisions and strategic direction based on financial performance and targets
Key content
Unit 1- Understanding company terminology, processes, procedures, reporting and discover WHY these are really necessary
- Appreciate the importance of budgeting, planning and variance analysis in support of organisational goals and future decisions regarding marketing activity
- Examine profit and loss statements, sales data, customer payment schedules and other reports used internally to extract information to aid decision making
- Understand how pricing decisions including discounts and incentives impact the bottom line
- Interpret types of costing, direct, indirect, overhead allocation, fixed and variable costs and why this knowledge helps us with product / service decisions
- Discover how marketing expenditure has a major impact on the bottom line, why it is so contentious amongst financial managers and how you can evaluate the financial performance of your marketing activity to improve your decisions for the future
- Understand how capital and other investments are judged and why marketers should always be aware of the return on their marketing investment
- Become familiar with the role and purpose of financial ratios and their use in marketing decisions
Duration
9.30am to 4.30pm
Marketing Finance and Budgeting (for Nonfinancial Staff)