John Philip Jones, bestselling author of What's in a Name? and When Ads Work, has edited an authoritative handbook of research procedures that determine effective advertising. All participants in the advertising process - clients, media and agencies - are fully represented in this volume. Chapter authors reflect a global mix of academic and professional backgrounds and include: Leo Bogart, Andrew Ehrenberg, Simon Broadbent, Herbert Krugman, and the Editor John Philip Jones. Most chapters have been specifically written for this volume and are complemented by a few adaptations of classic articles.

Macroeconomic Effects: The Influence of Advertising on Overall Sales Levels

Macroeconomic Effects: The Influence of Advertising on Overall Sales Levels
Macroeconomic effects: The influence of advertising on overall sales levels
John PhilipJones

The macroeconomic or aggregate effects of advertising—as opposed to its influence on individual brands—have long been the subject of controversy. This issue has informed a number of debates about social welfare, such as whether advertising encourages the growth of what some people consider to be inessential and even pernicious expenditures at the expense of supposedly essential ones. In this chapter I examine a number of facts concerning the macroeconomic effects of advertising.

The two overarching factors dominating this issue are (a) the absence of growth in most consumer goods markets in economically mature countries and (b) the existence of dense clusters of competing brands in most ...

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