Abstract
The largest portion of dairy and milk checkoff funds is spent on generic fluid milk advertising. These funds are distributed among four distinct media outlets - television, radio, print, and outdoor. Spending too little on one media outlet or too much on another constitutes a missed opportunity to garner higher returns. Using 1984-93 data, this study compares historical advertising expenditures in each media outlet to the advertising expenditure decision of an optimal control model. Results show profits would have increased if funds had been reallocated from television to radio, print, and outdoor media outlets.
| Original language | English (US) |
|---|---|
| Pages (from-to) | 155-169 |
| Number of pages | 15 |
| Journal | Journal of Agricultural and Resource Economics |
| Volume | 23 |
| Issue number | 1 |
| State | Published - Jul 1998 |
Keywords
- Generic fluid milk advertising
- Milk
- Optimal control