The meet-the-competition method of budgeting is the most efficient form of developing a marketing communications budget.

Question

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There is no one-size-fits-all approach to developing a marketing communications budget. The meet-the-competition method involves matching the communication spending of competitors, which may not be efficient or suitable for every business. Other methods include percentage-of-sales, objective-and-task, and affordability method. The best approach depends on company goals, industry, and market conditions.

The Meet-The-Competition Method of Budgeting Is the Most Efficient Form