Coca-Cola Co. didn't become the master of one of the world's biggest brands by being stingy.
The company said it incurred more than $2.9 billion in advertising expenses last year, up 4.5 percent from nearly $2.8 billion in 2009. The figures on print, radio, television and other advertisements were disclosed in an annual filing with the U.S. Securities and Exchange Commission.
"The increase in advertising expenses reflected the company's continued investment in our brands and building market execution capabilities," Coca-Cola said in the 175-page filing.
A year before, advertising expenses fell about 6.7 percent from $3 billion. The company said a major cause of that decrease in 2009 was a shift in its marketing and media spending strategies. It spent more marketing dollars on in-store promotions, loyalty points programs and point-of-sale marketing.
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