Concept explainers
Case summary:
The advertiser using percent on sales method set his advertising budget on present or forecasted sales. But, percentage is not clear. Marketers view industry average and competitor spending for evaluation. Websites and other trade publications give data about the industries that help the marketer to set the percentage.
Company G is the number 2 auto insurer with revenue of $17 billion previous year. Company G spends $1.1 billion on advertisement at present and continues to spend the same percentage next year. The average advertising to sales rate for I Industry is 0.1 %.
Introduction:
An advertisement is an announcement made to capture the attention of the people and attract them to buy the goods. Advertisements are done through magazines, newspapers, television, online, and so on.
To determine: The budget of Company G based on advertising spending on industry advertising to sales ratio and Company G consistent with average industry advertisement spending
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Chapter 12 Solutions
Marketing: An Introduction, Student Value Edition Plus MyMarketingLab with Pearson eText -- Access Card Package (13th Edition)
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