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- catalog abstract "This paper examines the implications of evolving technology, shifting regulatory policies, and changing economic conditions for intermedia competition in the market for U.S. national advertising. We begin with a review of theoretical considerations and empirical evidence relating to aggregate demand by national advertisers for time and space in the major media. Consistent with the view that the demand for advertising derives from consumers' demand for information, aggregate demand for each of the major media tends to be price inelastic. Interdependencies among these market demands involve both substitutive and complementary relations, both of which are weak. These demand conditions appear to reflect in part, the nature of institutional arrangements and media selection practices that have long prevailed in the U.S. advertising market. Taking patterns of interdependencies among market demands as the relevant measure of intermedia rivalry, we propose a set of hypotheses about how three factors affect the likelihood that market demands by national advertisers in alternative media will be interrelated as substitutes rather than complements: (i) audience addressability, (ii) audience control over attention to advertising, and (iii) flexibility of contractual terms. These hypotheses are tested using estimates of cross elasticities among eight major media reported by Silk, Klein, and Berndt (1997). Using Porter's (1985) "five forces" framework, we then consider how the broad array of technological and economic changes now underway in the U.S. media industry may be expected".
- catalog alternative "Restructuring in the US advertising media industry".
- catalog contributor b11257454.
- catalog contributor b11257455.
- catalog contributor b11257456.
- catalog contributor b11257457.
- catalog created "c1999.".
- catalog date "1999".
- catalog date "c1999.".
- catalog dateCopyrighted "c1999.".
- catalog description "Includes bibliographical references (p. 50-57).".
- catalog description "This paper examines the implications of evolving technology, shifting regulatory policies, and changing economic conditions for intermedia competition in the market for U.S. national advertising. We begin with a review of theoretical considerations and empirical evidence relating to aggregate demand by national advertisers for time and space in the major media. Consistent with the view that the demand for advertising derives from consumers' demand for information, aggregate demand for each of the major media tends to be price inelastic. Interdependencies among these market demands involve both substitutive and complementary relations, both of which are weak. These demand conditions appear to reflect in part, the nature of institutional arrangements and media selection practices that have long prevailed in the U.S. advertising market. Taking patterns of interdependencies among market demands as the relevant measure of intermedia rivalry, we propose a set of hypotheses about how three factors affect the likelihood that market demands by national advertisers in alternative media will be interrelated as substitutes rather than complements: (i) audience addressability, (ii) audience control over attention to advertising, and (iii) flexibility of contractual terms. These hypotheses are tested using estimates of cross elasticities among eight major media reported by Silk, Klein, and Berndt (1997). Using Porter's (1985) "five forces" framework, we then consider how the broad array of technological and economic changes now underway in the U.S. media industry may be expected".
- catalog extent "57 p. :".
- catalog isPartOf "Working paper (Harvard University. Graduate School of Business Administration. Division of Research) ; 99-126.".
- catalog isPartOf "Working paper / Division of Research, Harvard Business School ; 99-126".
- catalog issued "1999".
- catalog issued "c1999.".
- catalog language "eng".
- catalog publisher "[Boston] : Division of Research, Harvard Business School,".
- catalog title "Restructuring in the U.S. advertising media industry / Alvin J. Silk, Lisa R. Klein, Ernst R. Berndt.".
- catalog title "Restructuring in the US advertising media industry".
- catalog type "text".