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Allocation of Funds (as per Assignment 3):
Product Development:
This allocation is for enhancing and strengthening your core product or service. It may include expenses related to research, development, testing, and improvements to your offering.
Marketing and Promotion:
Funds allocated here are for increasing exposure and attracting a larger customer/user base. This covers marketing campaigns, advertising, social media promotions, public relations, and other strategies to boost brand visibility.
Operations and Infrastructure:
This category covers the day-to-day operational expenses of your organization, such as rent, utilities, salaries, office supplies, and other essential overhead costs.
Sales and Business Development:
Funds allocated for sales and business development activities aim to expand your customer base and business reach. This can include sales team salaries, partnerships, and market research.
Contingency and Reserves:
This allocation sets aside funds for unforeseen expenses and emergencies, providing a safety net for unexpected challenges that may arise.
Legal and Compliance:
These funds ensure that your organization remains compliant with relevant laws and regulations. This includes legal fees, compliance audits, and any necessary permits or licenses.
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