Free Market Research Budget Minute

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.

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

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.

Project Manager Approval: [Your Project Manager's Name]

Date: [Insert Date]

Finance Department Approval: ___________________

Date: ___________________

Final Project Cost Assessment: $60,050

Date: [Insert Date]

Finance Department Reconciliation: ___________________

Date: ___________________