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 10 months ago

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