Craft Marine Case Summary
The alternatives are: (there are several other budgeting methods, but we will not analyze all of them. I am looking for pros and cons in this section) x = multiplied by Advertising expenditures for this budgeting method are guided by how much competitors spend. Who is the competitor? Justify. One of Craft Marine’s competitors is Genmar Holdings. Genmar had sales estimated at 1.2 billion dollars. It was estimated that Craft’s Marine’s two main competitors spent 0.53% and 0.4% respectively. Calculation: 2001 Sales ($120.5 million) x expected increase in Sales (1.15%) = 2002 expected Sales (*$138,575,000) **x competitors % of sales (7%) = 2002 advertising budget (**$ 970,025*) Spend $764,485 using the objective task method Craft