How campaign tracking studies & econometric modelling can undervalue advertising benefits
Alan Smith
This paper argues that much current campaign tracking and econometric modelling is systematically undervaluing good agency planning practice and the potential of media advertising. This is not a reflection on the detailed execution of such projects, but rather on basic design weaknesses and a concentration on average achievements. Unlike other marketing inputs, such as price and distribution, advertising is complex and multi-faceted. For this reason it is unreasonable to expect that it is possible to represent the advertising input adequately with a single expenditure or gross rating...