what is marketing budget

A marketing budget is an estimate of how much money a business plans to spend on marketing its products or services during a given timeframe, such as a year. It is an outline of the costs that a company will spend to market its product or service, covering a finite period of time, which can be anywhere between a quarter to a year. The marketing budget includes all expenses related to the advertising campaign, such as paid advertising, sponsored web content, additional marketing staff, registering a domain and building a dedicated website, print and billboard advertising, TV ads, and much more. The marketing budget allocation is the maximum amount of funding designated for each expenditure line in the budget, which the marketing budget cannot exceed. A well-thought-out marketing budget is essential for every business that seeks success, as it helps stay competitive within the market and increase revenues. It also helps align marketing strategies with business goals and funnel money into marketing campaigns with the highest return on investment (ROI) .