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Who Advertises? Companies plow 2.5 percent of their revenues into advertising. Actual advertising-to-sales ratios vary from industry to industry, and even within the same business. The latest information, released by Schonfeld & Associates, grabs from approximately 6,000 SEC filings. The report contains lots of numbers; it must be used with care. Companies appoint themselves into industry groups, and each can claim allegiance to only one industry. For example, Johnson & Johnson is a pharmaceutical company, although much of its advertising arises in support of cosmetic and other personal-care products.
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