Adstock plays a central role in advertising research. Adstock, or goodwill, is the cumulative value of a brand's advertising at a given point in time. A critical assumption in many advertising models is that managers take Adstock into account when making their advertising decisions. However,...

In this study, the authors conduct a systematic investigation on the evolution in the effectiveness of two important marketing mix instruments, advertising and price, over the business cycle. Analyses are based on 163 branded products in 37 mature CPG categories in the UK, and this for a period...