Business, 30.11.2019 04:31 2020kaylahernan
Geico, the number-two auto insurer with $15 billion in revenue last year, spent $0.9 billion on advertising that year and plans to continue spending the same percentage of sales on advertising next year. the average advertising-to-sales ratio for the insurance industry is 0.1 percent of sales. if geico projects $20 billion in sales next year, using the percentage-of-sales method of advertising budgeting, how much will the company budget for advertising of basing it on projected sales?
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Geico, the number-two auto insurer with $15 billion in revenue last year, spent $0.9 billion on adve...
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