The wrong and the real of marketing effectiveness

The chart above is probably the most famous theoretical illustration of how advertising works. But in the seven years since it was published there has been very little serious discussion of how it actually reflects the experience of everyday brands. You know, the ones that sell functional products using average creative; the ones that don’t end up in the IPA awards databank.
It’s not because of a shortage of experience. Behind non-disclosure agreements, econometricians like me see the real world long and short of it week in week out. We engage with the messy reality of life where budgets are limited, CMOs don’t last in their jobs and CFOs are sceptical. We see the role that advertising actually plays. Read more…