“Budgeting and Sponsorship can make a difference in marketing a product”, elaborate in your own words.
Sponsorship and budgeting are of great importance in any business. A good sponsorship and marketing budget ensures the growth of any business. Sponsorship provides a great means of widening the competitive edge by improving a company’s image, dignity, and credibility through funding events that target the specific market audience. Similarly, a well-designed marketing budget will help a company with the planning process and also measure and manage the money, thereby making sure every expenditure is appropriately considered. Final Answer Budgeting is a basic ingredient for growth and profitability. Many companies run in loss simply because they do not have a proper budget plan. When done properly, marketing brings back enormous returns. Sponsorships are the financial aids given in support of a business. Businesses often sponsor events to reach particular business goals and increase their competitive advantage. Sponsorship helps in building a competitive edge.
