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In the past year, Colgate-Palmolive has raised prices on its products and boosted advertising amid a weak ad market with attractive rates.
Chief Executive Ian Cook said the company plans to boost spending again in the fourth quarter. On a conference call with analysts, he said competitors aren't spending as much to promote their brands to shoppers.
Recently, Colgate launched a new marketing campaign for its Colgate Total toothpaste brand with spokeswoman Brooke Shields, with ads appearing on television.
QUESTION: What are your plans for advertising the rest of this year?
RESPONSE: "Our advertising in the fourth quarter will be up, both in absolute terms and on a percentage-to-sales basis compared with the prior year. And as you know, we have stepped up advertising through the first three quarters of this year. ... Media costs continue to be favorable overall, so you continue to get more ... "
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