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Effective Budgeting and Promotion Strategies for Entrepreneurs

In "Entrepreneurship" by Mr. Bernstein, budgetary strategies for implementing promotional plans are explored. From leveraging secondary data sources like the SBA for industry-average promotional expenses to understanding the costs of advertising and public relations, this guide serves as a vital resource for entrepreneurs. It emphasizes the importance of measuring the effectiveness of promotional activities and being ready to adjust tactics. Additionally, it discusses cooperative advertising opportunities and strategies for generating publicity and enhancing sales promotions.

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Effective Budgeting and Promotion Strategies for Entrepreneurs

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  1. Entrepreneurship Mr. Bernstein Budgeting and Implementing Promotional Plans, pp 265-271 April 9, 2014

  2. EntrepreneurshipMr. Bernstein Budgeting for Promotions Industry average promotional expenses may be available from secondary data sources such as the SBA or business publications Cost out advertising rates, other promotional costs Hire advertising agency or PR firm – can be expensive Consider cooperative advertising with manufacturer Always measure effectiveness and be prepared to revise

  3. EntrepreneurshipMr. Bernstein Making Changes in Promotional Elements Adjust Your Advertising Advertising Adjusting the Promotional Mix Additional Sales Promotions Generate Publicity

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