As the marketing head of New Inc.,you have to decide the size of the advertising budget for a hair care product which was a star earner last year but has seen its market share plummet recently.Which of the following is going to help the product regain its market share the most in the long term?

Question

Quizplus · Accepted Answer

Many marketers practice the art of discounting. Companies employing these tactics may benefit in the short term but may be at a severe competitive disadvantage in the long term. Some marketers, however, know that brand equity and consumer preference for brands drive market share. They realize the balance of advertising and promotion costs needed to build brands and gain share, market by market, regardless of growth trends in product categories where they compete. They do not raid their ad budgets to increase earnings, nor do they view advertising as a discretionary cost.

As the Marketing Head of New Inc