Describe the processes used to determine promotion budget and mix.

Expert Solution

• The Affordable Method: Setting a promotion budget at what a company thinks they can afford

• Percentage of Sales Method: Setting a promotion budget at a certain percentage of current or forecasted sales or a percentage of the sales price

• Competitive Parity Method: Setting a promotion budgets to match competitors’ budgets

• Objective and Task Method: Marketers develop their promotion budgets by defining specific objectives, determining tasks that must be performed to achieve these objectives and estimating the costs of performing them

Junaid answered 9 months ago

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