Posted in Marketing and Strategy Terms, Total Reads: 742
Definition: Funds for Promotional and Marketing Activities
For any promotional or marketing causes, the act of providing resources, mostly in form of money, or other values such as effort or time is known as funding. Focusing on stimulating demand, increasing brand awareness and expanding marketing reach some target market activities are executed by the partners.
Additional fund attributes are available for fund types created for marketing, when defining the purpose of a budget
• Marketing Organization
• Marketing Plan
Fund determination and other relevant fund objects can leverage upon these attributes. Based on these new attributes and/or existing ones, such as product and product category one can determine the relevant funds for campaigns.
To support budget postings and accruals postings, a sales organization is required in fund plans.
The user can selects a campaign type relevant for the Funds Management scenario. After assigning the Fund plan, the user can choose the planning area. To track consumption, fund usage are checked once the campaign start.
Fund association levels:
Root level: Irrespective of the spends, splitting of all the costs between these funds.
Marketing Spend: Specify assigning a marketing spend to a fund. For example: Spending on online marketing only.
Planning on Fund:
Based on Marketing Plan Hierarchy and Sales or Marketing Organization relevant funds are determined for the campaign. The funding depends on the success of the promotional events, for any changes the data will automatically get updated. Campaign statuses causing trigger of fund usages and what value category is used for reservation can be defined by the company. Throughout the lifecycle of a fund, usages are used to track consumption.