Advertising intensity determinants of the Greek food and beverage sector
2000
Agolli, M.
Based on the Schmalensee model of optimal advertising decision under oligopolistic markets and the classical Dorfman-Steiner equilibrium, the aim of this thesis was to study firms' advertising intensity determinants for the Greek food and beverage-manufacturing sector with particular reference to the association of Schmalensee's elasticities with advertising intensity. Eighty-six firms from the Greek food and beverage sector operating in 29 industries were selected and the analysis was carried out over the period 1993-1997 The main results of this empirical analysis showed that apart from the variables such as profitability, capital intensity and market share, that were found to be significant in both other empirical studies and this work, demand elasticity to a given firm's advertising, especially in highly concentrated oligopolistic market, were significantly related to advertising intensity. The results showed a positive association between advertising intensity and sales elasticity to a firm's advertising, while rivals' response to a given firm advertising showed weak evidence of competitive advertising in the whole sector
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