Jeffrey Hyde () (The Pennsylvania State University) Brent Gloy () (Cornell University)
Abstract
The case of strategic advertising response is examined for branded and generic meat products (beef, pork, and poultry). A dynamic conceptual model is developed to identify the determinants of advertising expenditures. A time-series model is then used to examine the competitive behavior of branded and generic meat advertisers. The results identify two types of advertising strategies; those based upon changes in revenues and those based upon changes in competitor advertising expenditures. Most groups employ a mix of revenue-based and advertising-based strategies. The results identify examples of both strategic substitutes and strategic complements. No long-run response to generic advertising by brand advertisers in the same commodity group is found.
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Publisher Info
Article provided by Economics Bulletin in its journal Economics Bulletin.
Find related papers by JEL classification: M3 - Business Administration and Business Economics; Marketing; Accounting - - Marketing and Advertising C7 - Mathematical and Quantitative Methods - - Game Theory and Bargaining Theory
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