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February 19, 1996|Times Staff and Wire Reports

Procter & Gamble to Slow Marketing Expense Growth: The Cincinnati-based company, one of the largest advertisers in the world, said it will trim marketing expenses in the next few years in order to reduce product prices. Procter & Gamble Co.'s marketing costs as a percentage of overall sales will drop from 25% to 20% by 2000, spokeswoman Elizabeth Moore said. Absolute spending on marketing, however, is likely to grow by then because P&G's sales are expected to grow. The move is part of a broader strategy to keep P&G's household and health products competitive with generic and store-brand products that are generally less expensive.

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