ENGLISH WINE COMPETITION

Budget for English Wine Competition



Budget for English Wine Competition

Introduction

The sales of English Wines have been declining from the past few years due to which the wine competition carries immense importance. The wine competition will provide the basis of boosting the domestic sales of wine, which have anemic from the past few years. From the past 10 years the competitions is hosted by English wine producers in order to encourage the local wine producers to engage themselves in promotional and awareness activities in order to ensure that they sell the products in the local market and increase the sales of the wine (Wine Case (2012, p. n.d.).

Initially the budget was allocated more to the marketing of the wines and the money is spent in free sampling and wine tasting so that critics or writers writes about the taste and quality of the wine in the newspaper of the following week during English Wine competition. The budget allocation in the English Wine Competition during 2013 will be different from conventional methods. The budget will be allocated in a way so that individuals have the chance to achieve maximum awareness along with increasing the bottle sales exceeding the amount of 50,000. The marketing will be given extra importance but the methods will be different and will induce more footfall to the competition as compared to previous methods.

The primary objectives of the budget allocation are:

To increase the sales of the wine

To promote the qualities and value proposition of the vineyards and wine producers.

To increase the footfall of the customers to the Wine yards and increase the purchase Finkler et al, 2007, p. 163).

The basic assumptions underlying the current budget is

The cost of marketing expenditure will remain the same and will not change. The marketing costs will be remaining the same as mentioned and none of the changes relating the budgets will show volatility until the execution of the competition.

The individuals/wine producers/wine yard owners will provide the money for conducting the English Wine Competition as mentioned and no will back out.

The economic conditions will remain stable and the prices of goods and services will remain stagnant and will not increase.

The wage negotiated with the managers and controllers will remain constant and will not be changed.

The premises charges will remain the same along with the electricity charges.

The budget will perform as described and will lead to the achievement of objectives i.e. increasing the market of the wine and develop new products.

The number of people who will be invited will be appear on the products and purchase the products (Hansen et al, 2006, p. 130).

The budget will be divided into two major categories, which will include marketing and competition expenses. The marketing expenses will include the printing of brochures, which will be placed in different restaurants, and information of wine and the quality of the products will be explained. This will induce the customers to drop by the competition and get information regarding the products, ...