As we've said historically, the 9% to 11% range [for advertising as a percentage of sales] has been what we have spent. Actually, I believe that over time, we will see the increase in the cost of advertising moderate. There are just so many different media available today and we're quickly moving more and more of our businesses into digital. 

In the digital space, with things like Facebook and Google and others, we find that the return on investment of the advertising, when properly designed, when the big idea is there, can be much more efficient.

One example is our Old Spice campaign, where we had 1.8 billion free impressions... So while there may be pressure on advertising, particularly in the United States...during the year of a presidential election, there are mitigating factors like the plethora of media available.

P&G's Old Spice campaign is a textbook example of what the entire company should be doing. The problem is that the entire company isn't doing it. Check out Mr. Clean's Twitter stream, for instance. Oh, right—he doesn't have one.