The role of advertising in the market process: a survey
Franklin G. Mixon jr
The positive role played by advertising in the market process has been largely ignored by academic economists. It is only recently, since the modern economic revolution, that economists haverealized the benefits of advertising and have joined the research agenda developed by researchers in marketing and other business fields. The present survey details the literature that examines the role played by advertising in lowering the 'full price' to consumers which allows consumers to maximize utility and allows the producers/retailers to maximize profits. The review begins...