[SOLVED]Baldwin's Elite product Boat has an awareness of 72%.
Baldwin's Elite product Boat has an awareness of 72%. Baldwin's Boat product manager for the Elite segment is determined to have more awareness for Boat than Andrews' Elite product Axe. She knows that the first $1M in promotion generates 22% new awareness, the second million adds 23% more and the third million adds another 5%. She also knows one-third of Boat's existing awareness is lost every year. Assuming that Axe's awareness stays the same next year (77%), out of the promotion budgets below, what is the minimum Baldwin's Elite product manager should spend in promotion to earn more awareness than Andrews' Axe product?
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- 2M
- Nothing
- 1M
- 3M
