What is a general disadvantage of setting promotion budgets to match those of competitors? Competitor ad spending relatively easy to estimate Fairly easy to justify to upper management Competition might not be correct Reflects collective wisdom of the industry

Principles Of Marketing
17th Edition
ISBN:9780134492513
Author:Kotler, Philip, Armstrong, Gary (gary M.)
Publisher:Kotler, Philip, Armstrong, Gary (gary M.)
Chapter1: Marketing: Creating Customer Value And Engagement
Section: Chapter Questions
Problem 1.1DQ
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What is a general disadvantage of setting promotion budgets to match those of competitors?

Competitor ad spending relatively easy to estimate
Fairly easy to justify to upper management
Competition might not be correct
Reflects collective wisdom of the industry
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