Academic versus reality – a tale of 2 studies (Part I)
Nico Neumann, assistant professor and fellow at the Centre for Business Analytics at Melbourne Business School, looks at the academic approach to ad effectiveness and the limitations from using aggregate data in two recent studies.
Two recent academic studies investigating advertising effectiveness have sparked vivid online debates.
Both are high quality, independent studies (not those commissioned by industry groups or your ad vendor claiming to be independent). Both studies deserved the attention they got, but maybe not always in a way they should have.
The first of these two thought-provoking studies is the “Freakonomics” centrepiece investigating TV advertising effectiveness of 288 CPG brands in the US, conducted by three professors from Chicago. In a nutshell, the ‘Chicago work’ presents two main messages.
