Advertising for Long-term Shareholder Value

Proposes a general framework for discussing how much to spend on advertising, particularly when the economy slows down.

Advertising for Long-Term Shareholder Value1

Patrick Barwise

I was asked what I thought about the recession. I thought about it and decided not to take part. Sam Walton, Founder of Wal-Mart2

I will first suggest a general framework for discussing how...