otions constitute a larger expenditure for packaged goods manufacturers than advertising does (Papatla & Krishnamurthi, 1996). Currently, the ratio of price promotions and advertising is approximately two to one. In many frequently purchased product categories, more than 50% of the total sales volume is sold on promotions (Blattberg and Neslin 1990). Papatla & Krishnamurthi, (1996) state that one reason for this increas
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