marketing mix instruments, advertising and price, over the business cycle. Analyses are based on 163 branded products in 37 … data, (ii) monthly advertising data, (iii) data on the general economic conditions, and (iv) consumer survey data …, implying smaller brand loyalty. Advertising elasticities, however, do not seem to be affected by economic downturns. Product …

marketing mix instruments, advertising and price, over the business cycle. Analyses are based on 163 branded products in 37 … data, (ii) monthly advertising data, (iii) data on the general economic conditions, and (iv) consumer survey data …, implying smaller brand loyalty. Advertising elasticities, however, do not seem to be affected by economic downturns. Product …