Which of the following is the best approach to promotion budgeting?

Question

Quizplus · Accepted Answer

Objective and task budgeting is the best approach as it involves setting specific promotion objectives and then determining the tasks required to achieve those objectives and the costs associated with each task. This approach ensures that promotion activities are aligned with business objectives and helps to optimize the use of promotion budget. The other budgeting approaches (percentage of sales budgeting, competitive parity budgeting, all-you-can-afford, relative scale budgeting) do not use a systematic approach and may not consider the specific objectives and tasks required for each promotion activity.

Which of the Following Is the Best Approach to Promotion