Firms that sell highly differentiated consumer goods, such as soft drinks, breakfast cereals, and dog food, typically spend what percent of their revenues on advertising?

Question

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Firms that sell highly differentiated consumer goods typically spend around 10-20% of their revenues on advertising. This is because advertising is crucial for such firms to differentiate themselves from their competitors and create brand awareness in the minds of consumers.

Firms That Sell Highly Differentiated Consumer Goods, Such as Soft