Optimal Media Allocation of Generic Fluid Milk Advertising Expenditures: The Case of New York State

Diansheng Dong, Todd M. Schmit and Harry M. Kaiser

Agricultural and Resource Economics Review, 2007, vol. 36, issue 2

Abstract: A fixed-effects panel data demand model for five New York State markets is estimated to determine the differential impacts of generic fluid milk advertising by media type. Empirical results indicate that among the four media outlets, television advertising has the largest impact on per capita demand, followed by radio, outdoor, and print. Based on the estimated media-specific elasticities, media reallocation of advertising expenditures suggests that milk sales could increase significantly. The results indicate that cooperative media plan strategies developed between the New York regional advertising program and the national advertising programs would achieve the greatest benefits.

Keywords: generic advertising; milk; optimal media allocation; panel data; Marketing (search for similar items in EconPapers)
Date: 2007
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