Basing a budget on what other companies are spending on advertising and communication is which method?

Question

Quizplus · Accepted Answer

Basing a budget on what other companies are spending on advertising and communication is known as the "meet the competition" method. This method involves matching or exceeding the spending of competitors in order to stay competitive in the market. However, it may not be the most effective method as companies may have different goals, target markets, and resources.

Basing a Budget on What Other Companies Are Spending on Advertising