Affiliation:
1. Amos Tuck School of Business Administration, Dartmouth College.
2. Graduate School of Business, Columbia University.
Abstract
The authors attempt to assess what has been learned from econometric models about the effect of advertising on sales. Short-term and long-term advertising response as well as model fit are analyzed for 128 econometric models involving the impact of advertising on sales. The approach, a form of meta-analysis called “replication analysis,” treats the studies as imperfect experimental replications and uses ANOVA to identify sources of systematic variation. For short-term advertising elasticities, systematic variability is found related to model specification, estimation, measurement, product type, and setting of study. For advertising carryover and model goodness of fit, the “quasi-experimental design” is so imperfect that a high degree of sharing of explained variance among explanatory factors makes it difficult to identify the impact of a particular factor. Because the studies mostly address mature products in the U.S., suggestions are made for research needs crucial to better understanding of how advertising affects sales.
Subject
Marketing,Economics and Econometrics,Business and International Management
Cited by
183 articles.
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