Measuring the contribution of advertising to growth in demand: an econometric-accounting framework
Martyn DuffyUniversity of Manchester Institute of Science and Technology, Manchester, UK
INTRODUCTION
The total market demand for alcoholic drinks in the United Kingdom has expanded, of course, quite significantly over recent decades. Real per capita expenditure on these products, for example, rose by 66 per cent between 1963 and 1983. However, growth rates differed a great deal across product categories in this sector: beer consumption per capita rose by 33 per cent over the same period, spirits by 89 per cent and wine by 221 per cent....