Optimal Seasonal Allocation of Generic Dairy Advertising Expenditures
AbstractAnnual seasonal advertising expenditure allocations were estimated for the national generic advertising programs for fluid milk and cheese with the use of price and advertising elasticities of demand that varied over time. Significant variation in optimal allocations existed both across products and over time, emphasizing the importance of obtaining accurate seasonal forecasts that incorporate changes in market conditions to plan future spending allocations. In the absence of such information, allocating annual budgets equally across quarters still produced positive producer welfare gains on average relative to historical spending that were not statistically different from those realized under the optimal spending strategy.
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Bibliographic InfoArticle provided by Southern Agricultural Economics Association in its journal Journal of Agricultural and Applied Economics.
Volume (Year): 39 (2007)
Issue (Month): 01 (April)
dairy; generic advertising; optimal seasonal allocation; Livestock Production/Industries; Marketing; Q11; Q13; Q18;
Other versions of this item:
- Schmit, Todd M. & Kaiser, Harry M., 2004. "Optimal Seasonal Allocation of Generic Dairy Advertising Expenditures," Research Bulletins 122095, Cornell University, Department of Applied Economics and Management.
- Q11 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Aggregate Supply and Demand Analysis; Prices
- Q13 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Markets and Marketing; Cooperatives; Agribusiness
- Q18 - Agricultural and Natural Resource Economics; Environmental and Ecological Economics - - Agriculture - - - Agricultural Policy; Food Policy
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- Todd M. Schmit & Harry M. Kaiser, 2004. "Decomposing the Variation in Generic Advertising Response over Time," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 86(1), pages 139-153.
- Kinnucan, Henry W. & Myrland, Oystein, 2002. "Optimal Seasonal Allocation Of Generic Advertising Expenditures With Product Substitution: Salmon In France," Marine Resource Economics, Marine Resources Foundation, vol. 17(2).
- Cuellar, Sandra & Uva, Wen-fei L., 2004. "Marketing and Merchandising Practices for Fresh Sweet Corn in Supermarkets -- Challenges and Opportunities for the New York State Fresh Sweet Corn Industry," Research Bulletins 122100, Cornell University, Department of Applied Economics and Management.
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