Market Research Budget Minute
Marketing Market Research Budget Minute
This Market Research Budget Minute Template serves as a structured framework for managing the financial aspects of your market research project, ensuring that resources are allocated efficiently, and objectives are met within budget constraints.
Project Details:
|
Project Name |
[Your Project Name] |
|
Project Duration |
[Duration Date] |
|
Project Manager |
[Your Project Manager's Name] |
|
Objective |
To conduct market research to inform the successful launch of our new product line. |
Budget Overview:
|
Category |
Estimated Cost ($) |
Actual Cost ($) |
|
Personnel Costs |
$25,000 |
$26,500 |
|
Data Collection And Analysis |
$10,000 |
$11,200 |
|
Participant Incentives |
$2,500 |
$2,300 |
|
Travel Expenses |
$3,000 |
$3,500 |
|
Research Materials |
$1,500 |
$1,750 |
|
Vendor/Consultancy Fees |
$8,000 |
$8,500 |
|
Marketing And Promotion |
$5,000 |
$4,800 |
|
Miscellaneous Expenses |
$2,000 |
$1,900 |
|
Total Budget |
$57,000 |
$60,050 |
Budget Notes:
|
Personnel Costs |
Include salaries, wages, and benefits for team members working on the project. |
|
Data Collection And Analysis |
Include expenses for data collection tools, software, and analytical services. |
|
Participant Incentives |
Specify any compensation or rewards for study participants. |
|
Travel Expenses |
Include transportation, accommodation, and meal costs for field research or data collection trips. |
|
Research Materials |
Account for expenses related to surveys, questionnaires, and other research supplies. |
|
Vendor/Consultancy Fees |
Include fees for any external vendors or consultants hired for specialized tasks. |
|
Marketing And Promotion |
Cover advertising, outreach, and promotional costs to create awareness about the research. |
|
Miscellaneous Expenses |
Note any other relevant expenses not covered in the categories above. |
Budget Approval:
|
Project Manager Approval: [Your Project Manager's Name] |
|
Date: [Insert Date] |
|
Finance Department Approval: ___________________ Date: ___________________ |
Budget Reconciliation (After Project Completion):
|
Final Project Cost Assessment: $60,050 |
|
Date: [Insert Date] |
|
Finance Department Reconciliation: ___________________ Date: ___________________ |
This market research budget minute template is designed to help plan, track, and manage the budget for the Product Launch Market Research project. Please ensure that all expenses are accurately documented, and approvals are obtained as needed throughout the project.
