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Optimal Seasonal Allocation of Generic Dairy Advertising Expenditures

Author

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  • Schmit, Todd M.
  • Kaiser, Harry M.

Abstract

Annual 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.

Suggested Citation

  • Schmit, Todd M. & Kaiser, Harry M., 2007. "Optimal Seasonal Allocation of Generic Dairy Advertising Expenditures," Journal of Agricultural and Applied Economics, Southern Agricultural Economics Association, vol. 39(01), April.
  • Handle: RePEc:ags:joaaec:6768
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    File URL: http://purl.umn.edu/6768
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    References listed on IDEAS

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    1. Philip R. Vande Kamp & Harry M. Kaiser, 2000. "Optimal Temporal Policies in Fluid Milk Advertising," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 82(2), pages 274-286.
    2. Schmit, Todd M. & Kaiser, Harry M., 2002. "Measuring the Impacts of Generic Fluid Milk and Cheese Advertising: A Time-Varying Parameter Application," Research Bulletins 122635, Cornell University, Department of Applied Economics and Management.
    3. 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.
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    Cited by:

    1. 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.

    More about this item

    Keywords

    dairy; generic advertising; optimal seasonal allocation; Livestock Production/Industries; Marketing; Q11; Q13; Q18;

    JEL classification:

    • 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

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