Preprintgreen2005

The economic analysis of advertising

677 citations0/0 files storedRePEc: Research Papers in Economics

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Marketing and Advertising Strategies Consumer Market Behavior and Pricing American History and Culture

Abstract

By its very nature, advertising is a prominent feature of economic life. Advertising reaches consumers through their TV sets, radios, newspapers, magazines, mailboxes, computers and more. Not surprisingly, the associated advertising expenditures can be huge. For example, Advertising Age (2005) reports that, in 2003 in the U.S., General Motors spent $3.43 billion to advertise its cars and trucks; Procter and Gamble devoted $3.32 billion to the advertisement of its detergents and cosmetics; and Pfizer incurred a $2.84 billion dollar advertising expense for its drugs. Advertising is big business indeed.

Citations in this library

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References

1972Conditional logit analysis of qualitative choice behavior 1970Information and Consumer Behavior 1974Advertising as Information 1986Price and Advertising Signals of Product Quality 2000No Pain, No Gain: A Critical Review of the Literature on Signaling Unobservable Product Quality 1983A Logit Model of Brand Choice Calibrated on Scanner Data 2004Neural Correlates of Behavioral Preference for Culturally Familiar Drinks 1996Decision-Making Under Uncertainty: Capturing Dynamic Brand Choice Processes in Turbulent Consumer Goods Markets

Cited by

2013The Impact of Corporate Social Responsibility on Firm Value: The Role of Customer Awareness 2007Chapter 31 Coordination and Lock-In: Competition with Switching Costs and Network Effects 2003Advertising, Breadth of Ownership, and Liquidity 2010Quality Disclosure and Certification: Theory and Practice 2010Market Penetration Costs and the New Consumers Margin in International Trade 2006On the Simple Economics of Advertising, Marketing, and Product Design

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