AN EMPIRICAL ANALYSIS OF THE RELATIONSHIP BETWEEN ADVERTISING AND SALES: A CASE STUDY OF THE LIQUID MILK MARKET
用计量方法分析液态奶市场广告与销售的关系，发现广告对提升销量的效果有限。
The conventional econometric treatment of the possible dynamic relationship between two variables such as sales and advertising involves ad hoc assumptions concerning causality and lag structure. This paper focuses attention on a technique which tries to detect an empirical relationship between the advertising and sales of liquid milk. Our conclusions suggest that, at least in the market examined, the effectiveness of advertising in increasing sales appears to be limited.