The Economic Theory of Advertising: The Directions of Formation
One of the key tools that are traditionally used in solving media strategizing problems is advertising. The impacts of advertising on the processes taking place in the economy are significant and remarkably diverse, thus raising a big question to the media strategists to systematize and classify bot...
Guardado en:
| Autor principal: | |
|---|---|
| Formato: | article |
| Lenguaje: | EN RU |
| Publicado: |
North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration
2020
|
| Materias: | |
| Acceso en línea: | https://doaj.org/article/4fbebd54d82f493781dcff4ab0a2141f |
| Etiquetas: |
Agregar Etiqueta
Sin Etiquetas, Sea el primero en etiquetar este registro!
|
| id |
oai:doaj.org-article:4fbebd54d82f493781dcff4ab0a2141f |
|---|---|
| record_format |
dspace |
| spelling |
oai:doaj.org-article:4fbebd54d82f493781dcff4ab0a2141f2021-11-12T10:46:12ZThe Economic Theory of Advertising: The Directions of Formation1726-11391816-859010.22394/1726-1139-2020-8-157-174https://doaj.org/article/4fbebd54d82f493781dcff4ab0a2141f2020-09-01T00:00:00Zhttps://www.acjournal.ru/jour/article/view/1492https://doaj.org/toc/1726-1139https://doaj.org/toc/1816-8590One of the key tools that are traditionally used in solving media strategizing problems is advertising. The impacts of advertising on the processes taking place in the economy are significant and remarkably diverse, thus raising a big question to the media strategists to systematize and classify both the types of such impacts and the economic theories that study it. This work is devoted to the study of this issue: the most significant approaches to a comprehensive study of advertising at various planning periods (from instant to long-term strategic) are presented. We analyze the informative and persuasive functions of advertisement, compare the influence of its visual and textual forms and discuss key points of cognitive and behavior approaches to understand how advertisement affects the consumers’ demand. We describe basic models of economic equilibrium, which take the advertisement influence on different market structures into account, as well as two-sided models of media markets. It is shown that the less developed field of the economics of advertising is behavior and market influence analysis of the firms whose specialization is creating and distributing media content and advertisement. Due to this, we introduce the way to construct a new class of market models involving three types of economic agents — consumers, media firms and economic goods producers.S. A. VartanovNorth-West institute of management of the Russian Presidential Academy of National Economy and Public Administration articlemedia strategizingeconomics of advertisementconsumer behavioradvertising dynamicsimperfect competitionmedia marketsPolitical institutions and public administration (General)JF20-2112ENRUУправленческое консультирование, Vol 0, Iss 8, Pp 157-174 (2020) |
| institution |
DOAJ |
| collection |
DOAJ |
| language |
EN RU |
| topic |
media strategizing economics of advertisement consumer behavior advertising dynamics imperfect competition media markets Political institutions and public administration (General) JF20-2112 |
| spellingShingle |
media strategizing economics of advertisement consumer behavior advertising dynamics imperfect competition media markets Political institutions and public administration (General) JF20-2112 S. A. Vartanov The Economic Theory of Advertising: The Directions of Formation |
| description |
One of the key tools that are traditionally used in solving media strategizing problems is advertising. The impacts of advertising on the processes taking place in the economy are significant and remarkably diverse, thus raising a big question to the media strategists to systematize and classify both the types of such impacts and the economic theories that study it. This work is devoted to the study of this issue: the most significant approaches to a comprehensive study of advertising at various planning periods (from instant to long-term strategic) are presented. We analyze the informative and persuasive functions of advertisement, compare the influence of its visual and textual forms and discuss key points of cognitive and behavior approaches to understand how advertisement affects the consumers’ demand. We describe basic models of economic equilibrium, which take the advertisement influence on different market structures into account, as well as two-sided models of media markets. It is shown that the less developed field of the economics of advertising is behavior and market influence analysis of the firms whose specialization is creating and distributing media content and advertisement. Due to this, we introduce the way to construct a new class of market models involving three types of economic agents — consumers, media firms and economic goods producers. |
| format |
article |
| author |
S. A. Vartanov |
| author_facet |
S. A. Vartanov |
| author_sort |
S. A. Vartanov |
| title |
The Economic Theory of Advertising: The Directions of Formation |
| title_short |
The Economic Theory of Advertising: The Directions of Formation |
| title_full |
The Economic Theory of Advertising: The Directions of Formation |
| title_fullStr |
The Economic Theory of Advertising: The Directions of Formation |
| title_full_unstemmed |
The Economic Theory of Advertising: The Directions of Formation |
| title_sort |
economic theory of advertising: the directions of formation |
| publisher |
North-West institute of management of the Russian Presidential Academy of National Economy and Public Administration |
| publishDate |
2020 |
| url |
https://doaj.org/article/4fbebd54d82f493781dcff4ab0a2141f |
| work_keys_str_mv |
AT savartanov theeconomictheoryofadvertisingthedirectionsofformation AT savartanov economictheoryofadvertisingthedirectionsofformation |
| _version_ |
1718430675131957248 |