According to James O. Peckham, which of the following statements provides a good rule of thumb for a company setting the advertising budget for a new product?
A. Its advertising budget should be as much as the firm can afford.
B. Its advertising budget should be equal to that of the largest market shareholder in the product category.
C. Its advertising budget should be less than that needed to maintain the desired market share.
D. Its advertising budget should be 10 percent greater than the average budget planned for the entire payout period.
E. Its advertising budget should be twice the desired market share.
Answer: E
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