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- catalog abstract "The question of what accounts for the diversity and limited concentration that has long characterized the organization of the advertising agency industry is addressed by treating an advertising agency as a multiproduct firm. The paper formulates a set of three hypotheses relating to the realization of product-specific scale and scope economies. The first two posit that given low fixed costs and minimal entry barriers, both media-specific scale and scope economies are available and can be exploited by relatively small-size agencies. The third suggests that large agencies may experience diseconomies of scope as a consequence of excessive diversification induced by two pervasive industry phenomena: "bundling" of agency services, which matches client demand for a mix of media advertising, and "conflict policy," which prohibits an agency from serving competing accounts and constrains mobility. Utilizing a multiproduct cost function, the paper estimates media-specific scale and scope economies for a cross-section of 401 U.S. agencies in 1987. It concludes with a discussion of the implications of these finds for the restructuring currently underway in the industry, particularly the resurgence of interest in small agencies and the trend away from longstanding reliance on fixed commisssion rates.".
- catalog contributor b8842888.
- catalog contributor b8842889.
- catalog created "1994.".
- catalog date "1994".
- catalog date "1994.".
- catalog dateCopyrighted "1994.".
- catalog description "Includes bibliographical references (p. 36-40).".
- catalog description "The question of what accounts for the diversity and limited concentration that has long characterized the organization of the advertising agency industry is addressed by treating an advertising agency as a multiproduct firm. The paper formulates a set of three hypotheses relating to the realization of product-specific scale and scope economies. The first two posit that given low fixed costs and minimal entry barriers, both media-specific scale and scope economies are available and can be exploited by relatively small-size agencies. The third suggests that large agencies may experience diseconomies of scope as a consequence of excessive diversification induced by two pervasive industry phenomena: "bundling" of agency services, which matches client demand for a mix of media advertising, and "conflict policy," which prohibits an agency from serving competing accounts and constrains mobility. Utilizing a multiproduct cost function, the paper estimates media-specific scale and scope economies for a cross-section of 401 U.S. agencies in 1987. It concludes with a discussion of the implications of these finds for the restructuring currently underway in the industry, particularly the resurgence of interest in small agencies and the trend away from longstanding reliance on fixed commisssion rates.".
- catalog extent "43, [16] p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; HBS 94-073.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 94-073".
- catalog issued "1994".
- catalog issued "1994.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Costs, institutional mobility barriers, and market structure : advertising agencies as multiproduct firms / by Alvin J. Silk and Ernst R. Berndt.".
- catalog type "text".