Long-term advertising effects: the Adstock illusion
Quantifying both the short-term activation and long-term brand-building effects of advertising is a central part of commercial marketing mix modelling (MMM). To directly isolate each effect, a common practice includes both short and high-retention Adstock variables in the estimating equation. However, if, as is often claimed, activation and brand-building are different mechanisms, such a ‘dual-Adstock’ […]
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