Marketing Budget Meeting Minutes
Marketing Budget Meeting Minutes
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Company: |
[your company name] |
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Location: |
[your company address] |
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Minutes Prepared by: |
[your name] |
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Date: |
July 5, 2050 |
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Time: |
10:00 AM - 12:00 PM |
Attendees:
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Elena Rodriguez (Marketing Director)
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Michael Chen (Marketing Analyst)
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Lisa Wong (Chief Financial Officer)
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Rahul Gupta (Product Manager)
Apologies:
Tomás Herrera (Senior Marketing Manager)
1. Opening
The meeting was called to order by Elena Rodriguez at 10:05 AM. She outlined the purpose of the meeting: to discuss necessary adjustments to the marketing budget due to recent shifts in the consumer electronics market.
2. Review of Current Budget
Lisa Wong presented the current status of the marketing budget for FY 2050, highlighting areas where spending has exceeded projections and areas still underfunded.
Current Budget Allocation (in thousands):
|
Marketing Activity |
Original Budget |
Current Spend |
Variance |
|---|---|---|---|
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Digital Advertising |
$500 |
$650 |
+$150 |
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Event Sponsorships |
$300 |
$200 |
-$100 |
|
Product Launches |
$400 |
$450 |
+$50 |
|
Content Creation |
$200 |
$150 |
-$50 |
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Total |
$1,400 |
$1,450 |
+$50 |
3. Discussion
A comprehensive discussion took place regarding the shifting market dynamics, especially the increased competition and recent technological advancements. Rahul Gupta presented data on consumer trends which indicate a growing demand for smart home devices, suggesting an increased allocation to digital advertising and product launches, particularly in smart technology sectors.
4. Budget Re-allocation Proposals
Michael Chen proposed several budget adjustments to better align with the new market conditions and company strategy for the second half of 2050.
Proposed Budget Adjustments (in thousands):
|
Marketing Activity |
Proposed Changes |
New Budget |
|---|---|---|
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Digital Advertising |
+$200 |
$850 |
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Event Sponsorships |
-$100 |
$100 |
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Product Launches |
+$100 |
$550 |
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Content Creation |
No Change |
$150 |
5. Approval
After a detailed discussion on each proposed adjustment, the team voted to approve the new budget allocations. The motion was passed with unanimous consent.
6. Action Items
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Michael Chen will update the marketing budget documentation and distribute the revised plan by July 12, 2050.
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Rahul Gupta will coordinate with the digital marketing team to ramp up advertising efforts for the smart home product line.
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Lisa Wong will oversee the financial adjustments and ensure compliance with the updated budget.
7. Closing
The meeting was adjourned at 12:00 PM by Elena Rodriguez, who thanked everyone for their contributions and emphasized the importance of flexibility and swift adaptation to market changes.
Next Meeting: Scheduled for October 10, 2050, at 10:00 AM in Conference Room B.
