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Sound and Visions

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Sounds and Vision plc 1. Amina believes that a significant marketing budget would be necessary for her marketing plan to achieve its objectives. To what extent do you agree with this view? (18 marks)
A marketing budget sets out how much money is allocated to marketing and how it intends to spend it. They are usually set before a year starts, depending on the company’s fiscal year. There are many reasons for why a marketing budget would help Amina’s business to achieve its objectives, however I believe that the success of Sounds and Vision plc does not lie with the actual size of the marketing budget, but how effectively it is used. As the business has decided to reposition itself, it needs to create awareness of its new strategy, which undoubtedly will involve a lot of expenses. This could be done through promotion, involving the media, such as a television campaign which would be expensive and therefore involve a significant budget. Not only will it need to promote its new strategy in order to gain more customers, but the case study informs us that Sound and Vision are up against a lot of competition, from both online retailers and supermarkets. Therefore in order to make sure that they are the highest competitor in the market, or to match the other strong competitors, a significant amount of money will need to be spent, using a marketing budget, for effective and persuasive advertising and promotions, in order for customers to visit the shop and spend money there, rather than elsewhere. Sound and Vision’s target market is the 15-24 year old, however at the moment they are most popular with the 25-34 year old market. Amina wants to recruit younger staff in the stores to emphasise the focus on the 15-24 year old target market- however this will come at a cost. A significant marketing budget would be helpful in order to recruit new staff, however the business

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