Why do firms invest in consumer advertising with limited sales response? A shareholder perspective

• Main Authors: OSINGA, Ernst C., LEEFLANG, Peter S. H., SRINIVASAN, Shuba, WIERINGA, Jaap E.
• Format: text
• Language: English
• Published: Institutional Knowledge at Singapore Management University 2011
• Subjects: stock price returns; stock price volatility; pharmaceutical marketing; advertising; time-varying parameters; Kalman filtering; Advertising and Promotion Management; Marketing
• Online Access: https://ink.library.smu.edu.sg/lkcsb_research/5436

Marketing managers increasingly recognize the need to measure and communicate the impact of their actions on shareholder returns. This study focuses on the shareholder value effects of pharmaceutical direct-to-consumer advertising (DTCA) and direct-to-physician (DTP) marketing efforts. Although DTCA...