Which advertising budget-setting method is described as setting the promotion budget to match competitors' outlays?
Explanation
The competitive-parity method for setting an advertising budget is a strategy where a company bases its budget on the spending levels of its competitors, believing it represents industry wisdom and helps prevent promotion wars.
Other questions
What is the primary role of public relations (PR) as a promotion tool?
According to the text, what were the estimated worldwide advertising spending and U.S. advertising spending by P&G, the world's largest advertiser?
What are the four important decisions that marketing management must make when developing an advertising program, as illustrated in Figure 15.1?
Which type of advertising is used heavily when introducing a new product category, with the primary objective of building primary demand?
What is the term for the merging of advertising and entertainment in an effort to create new avenues for reaching consumers with more engaging messages?
An advertisement showing a woman floating blissfully above a surf-strewn beach at sunset in her Calvin Klein Nightwear is an example of which message execution style?
What is the estimated cost of a one-minute 'Clash of Clans: Revenge' Super Bowl ad for media time alone?
What are the two major elements of an advertising strategy?
Which public relations function involves working with donors or members of nonprofit organizations to gain financial or volunteer support?