engleski

Econometric approach to marketing communication in print media

Marketing practitioners face a real challenge in distributing the funds earmarked for marketing communication activities. This traditionally demanding task has always been influenced by more or less pronounced characteristics of and changes in the macroeconomic and microeconomic environment. Among current characteristics of developed market economies one may outline: reduction of marketing budgets due to recession and crisis, with a smaller portion assigned for communication activities and a redistribution of funds assigned to marketing communication activities – resulting in a consequent weakening or even loss of domination of advertising in favour of other forms, such as sales promotion. By means of monitoring and an econometric analysis of data on investments into advertising in print media in the Republic of Croatia on a month-to-month basis for the period between January 2005 and March 2010, this paper examines whether investments into advertising in print media follow the trends observed in developed market economies (by media class and sectors). It also explores for possible regularities in the structure of such investments (e.g. seasonal oscillations, by media class and sectors). Investing in advertising is described as a function of the media class, time and sector. EViews, Version 7 econometric software is used in research. On the basis of previous discussions, graded econometric models are proposed to forecast and control future developments, thereby enhancing and facilitating decision-making in marketing.

advertising expenditures; print media; econometric models; forecasting

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