Advertising as a factor of production

Bruce Hall

Bruce Hall introduces a new model on how advertising works. The model identifies three phases - pre-experience exposure, experience and post experience exposure.

Advertising As A Factor Of Production

Bruce HallHoward Merrell & Partners

One of the most perplexing issues marketing managers face today is that of allocating scarce resources efficiently to drive top-line revenue. Increasingly, for companies in traditionally heavily advertised categories, especially consumer packaged goods, inability to drive top-line revenue is emerging as a key barrier to business growth (1). As these categories mature, marketers need not only to find viable brand extensions and new products, they also need tools to stabilise and maintain share for their mature brands.

Neoclassical economics, with its theory of the firm, offers such a...

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