I'm trying to prove something to the senior management at my company. If any one could answer the below question or lead me to a source that could provide the answer that would be greatly appreciated.
Marketing budgets generally are determined by taking a percentage of sales. For example if you forecast $10MM in sales and you sent your marketing budget at 10% of sales, then your marketing budget would be $1MM.
So my question is what is the average percentage of sales most marketing budgets are set at?