Decomposing the Variation in Generic Advertising Response over Time |
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Authors: | Todd M Schmit and Harry M Kaiser |
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Institution: | The authors are research associate and professor, Department of Applied Economics and Management, Cornell University. |
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Abstract: | A time-varying parameter model of fluid milk and cheese demand reveals that changes in age composition, race composition, and food spending patterns away from home were most important to changes in generic advertising response over time. Advertising response elasticities indicate that generic advertising could be enhanced by targeting young children households for fluid milk, and Asian/Hispanic households for cheese. Results also indicate that shifting targeted advertising efforts to the away-from-home market may increase generic cheese advertising response. |
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Keywords: | advertising response elasticities generic dairy advertising time-varying parameter |
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