While many companies are spending more money on sales promotion than on med

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问题 While many companies are spending more money on sales
promotion than on media advertising, it is difficult to say just what
percentage of a firm’ s overall promotional budget should be
allocated to advertise versus consumer- and trade-oriented【M1】______
promotions. This relocation depends on a number of factors,【M2】______
including the specific promotional objectives of the campaign, the
market and competitive situation, and the brand’s stage in its life
cycle.
Consider, for example, what allocation of the promotional【M3】______
budget may vary according to a brand’s stage in the product life
cycle. In the introductory stage, a large amount of the budget may
be allocated to sales promotion techniques such as sampling and
couponing to induce trial. In the growth stage, moreover,【M4】______
promotional dollars may be used primarily for advertising to stress
brand differences and keep the brand name in competitors’ minds.【M5】______
When a brand moves to the maturity stage, advertising is primarily
a reminder to keep consumers aware the brand. Consumer-oriented【M6】______
sales promotions such as coupons, price-offs, premiums, and
bonus packs may be needed periodically to maintain consumer
loyalty, attract new users, and protect against competition.
Trade-oriented promotions needed to maintain shelf space and【M7】______
accommodate retailers’ demands for better margins as long as【M8】______
encourage them to promote the brand. A study on the synergistic
effects of advertising and promotion examined a brand in the
mature phase of its life cycle and has found that 80 percent of its【M9】______
sales at this stage was due to sales promotions. When a brand【M10】______
enters the decline stage of the product life cycle, most of the
promotional support will probably be removed and expenditures
on sales promotion are unlikely. [br] 【M9】

选项

答案 has—去掉has

解析语法错误。此处只是一般陈述，并不强调过去发生并且已经完成的动作对现在造成的影响或后果，所以无需用现在完成时has found。and是并列连词，此处连接两个并列谓语examined和found．为保持谓语动词时态一致，故去掉has。

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