Advertising

Victor J. Tremblay and Carol Horton Tremblay
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Victor J. Tremblay: Oregon State University
Carol Horton Tremblay: Oregon State University

Chapter Chapter 15 in New Perspectives on Industrial Organization, 2012, pp 423-466 from Springer

Abstract: Abstract In consumer goods markets, advertising is almost as important as price competition. Every day firms bombard us with ads on television, radio, newspapers, billboards, and the Internet. A concern raised by critics is the amount of money spent on advertising. In the USA, for example, $280 billion dollars was spent on advertising in 2007. This amounts to about 2% of gross domestic product (GDP), money that could have been spent in other ways. Figure 15.1 plots annual advertising spending as a ratio of GDP from 1919 to 2007. The advertising/GDP ratio fluctuates over time but has hovered around 2% since the end of World War II.

Keywords: Gross Domestic Product; Marginal Revenue; Advertising Expenditure; Television Advertising; Strategic Substitute (search for similar items in EconPapers)
Date: 2012
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DOI: 10.1007/978-1-4614-3241-8_15

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