Planning and Monitoring the Budget: A marketing budget planned to the smallest of details is very essential in a marketing plan. You have to be realistic and exact, and base the budget on your goals. You will also have to monitor the budget, track the expenses and analyze the spending on a budgeted and actual' basis.
Marketing Research will be the first component for your marketing plan. You may be doing this in house or you may elect to hire a top marketing agency, a marketing consultant, or maybe a specific marketing research firm. You need to obtain and capture all data about your business along with your products and services to help you properly facilitate any potential marketing problems. You may also be able to get some marketing data from an industry trade association or from other businesses within your specific industry.