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Aggregate advertising, sales volume and relative prices in the long run

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  • Paul Turner

Abstract

This paper examines the relationship between advertising expenditures, sales and the cost of advertising using annual UK data over the period 1967-1997. Strong evidence is found for the existence of a cointegrating relationship between real advertising expenditures, sales volumes, goods prices and the cost of advertising messages. Error correction models fit the data well although the estimated price elasticities are not consistent with the equilibrium relationship derived from the Dorfman-Steiner equilibrium condition with a Cobb-Douglas demand function.

Suggested Citation

  • Paul Turner, 2000. "Aggregate advertising, sales volume and relative prices in the long run," Applied Economics Letters, Taylor & Francis Journals, vol. 7(8), pages 505-508.
    • Handle: RePEc:taf:apeclt:v:7:y:2000:i:8:p:505-508
    DOI: 10.1080/13504850050033265
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    Cited by:

    1. Deleersnyder, B. & Dekimpe, M.G. & Steenkamp, J-B.E.M. & Leeflang, P.S.H., 2007. "The Role of National Culture in Advertising’s Sensitivity to Business Cycles: An Investigation Across All Continents," ERIM Report Series Research in Management ERS-2007-095-MKT, Erasmus Research Institute of Management (ERIM), ERIM is the joint research institute of the Rotterdam School of Management, Erasmus University and the Erasmus School of Economics (ESE) at Erasmus University Rotterdam.
    2. Ying, Xiongwei & Anders, Sven M., 2013. "Competition between Private Label and National Brand for Health-differentiated Food Product: A Canadian Retailing Case," 2013 Annual Meeting, August 4-6, 2013, Washington, D.C. 151280, Agricultural and Applied Economics Association.

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