(Roughly) Daily

“Half the money I spend on advertising is wasted; the trouble is, I don’t know which half.”*…

In the U.S., more than $250 billion a year is spent on advertising; globally, the figure is more than half a trillion dollars. So, it would seem there’s a basic question worth asking: does all that advertising actually work? The ad industry swears by its efficacy — but a massive new study tells a different story…

Have you ever been puzzled by something that’s supposed to be true, but you didn’t quite believe it — and you didn’t have the evidence to challenge it? But then, one day, the evidence appears! Today is that day. From Freakonomics (@Freakonomics), “Does Advertising Actually Work?

The link above is to Part One, which focuses on television advertising; for a look at the new sheriff in town, digital advertising, see Part Two.

John Wanamaker, pioneer of the modern department store and gifted merchant and marketer who helped define the modern consumer era

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As we ponder persuasion, we might note that, history would suggest that some advertising has worked even better than expected; case in point: on this date in 1959 the Barbie doll was introduced (at the American Toy Fair in New York).  Ruth Handler (co-founder, with her husband, of Mattel), created Barbie as an “aspirational” (i.e., grown up) alternative to baby dolls.  She adapted Barbie from a German doll, Lilli, which was based on a German cartoon strip– and which was sold as a “racy” item, primary to men in tobacco stores…  Amped via Mattel’s sponsorship of The Mickey Mouse Club (Mattel was the first toy company to use television advertising), the figurine was a huge smash…and was followed by Midge, Skipper, and– enfranchising a set of men perhaps beyond those who felt bereft when Lilli became Barbie– Ken.

 Barbie Millicent Roberts™ from Willows, Wisconsin, 1959

Written by (Roughly) Daily

March 9, 2021 at 1:01 am

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