Advertising effect modelling. A tool for optimizing the media plan
Lars Grnholdt Copenhagen Business School, Denmark
INTRODUCTION
Researchers and practitioners alike have for quite some time been concerned with the problem of relating advertising effort to the pattern of market response. Of particular interest is a quantitative model-building approach to study the effectiveness of advertising. To use a response model for assessing advertising effectiveness is one issue, but can advertising effect models be used to aid media planning decisions - including setting the advertising media budget, allocating the budget over time, and selecting media categories?
Marketing literature abounds with...