The short- and long-run implications of restaurant advertising

References

• Abraham, M. M., & Lodish, L. M. (1990). Getting the most out of advertising and promotion. Harvard Business Review, 68(3), 50–60.
   PubMed Web of Science ®Google Scholar
• Ali Shah, S. Z., & Akbar, S. (2008). Value relevance of advertising expenditure: A review of the literature. International Journal of Management Reviews, 10(4), 301–325. doi:10.1111/ijmr.2008.10.issue-4
   Web of Science ®Google Scholar
• Alonso, A. D., O’Neill, M., Liu, Y., & O’Shea, M. (2013). Factors driving consumer restaurant choice: An exploratory study from the Southeastern United States. Journal of Hospitality Marketing & Management, 22(5), 547–567. doi:10.1080/19368623.2012.671562
   Google Scholar
• Bruce, N. I., Peters, K., & Naik, P. A. (2012). Discovering how advertising grows sales and builds brands. Journal of Marketing Research, 49(6), 793–806. doi:10.1509/jmr.11.0060
   Web of Science ®Google Scholar
• Bureau of Census. (2012). Economic census: NAICS 772—Food services and drinking places. Retrieved from https://www.census.gov/econ/.
   Google Scholar
• Bureau of Labor Statistics. (2010). National industry-specific occupational employment and wage estimates: NAICS 772—Food services and drinking places. Retrieved from http://www.bls.gov/bls/newsrels.htm#OEUS.
   Google Scholar
• Bureau of Labor Statistics. (2012). Age of reference person: Annual expenditure means, shares, standard errors, and coefficient of variation, Consumer Expenditure Survey, 2012 [Table 1300]. Retrieved from http://www.bls.gov/cex/2012/combined/age.pdf.
   Google Scholar
• Bureau of Labor Statistics. (2014). Consumer Price Index, food away from home. Retrieved from http://www.bls.gov/cpi/data.htm.
   Google Scholar
• Cavaliere, G., & Tassinari, G. (2001). Advertising effect on primary demand: A cointegration approach. International Journal of Advertising, 20(3), 319–339.
   Google Scholar
• Chavadi, C. A., & Kokatnur, S. S. (2008). Consumer expectation and perception of fast food outlets: An empirical study in Davangere. Journal of Services Marketing, 6(2), 6–21.
   Google Scholar
• Dhar, T., & Baylis, K. (2011). Fast-food consumption and the ban on advertising targeting children: The Quebec experience. Journal of Marketing Research, 48(5), 799–813. doi:10.1509/jmkr.48.5.799
   Web of Science ®Google Scholar
• Elliott, C. (2001). A cointegration analysis of advertising and sales data. Review of Industrial Organization, 18(4), 417–426. doi:10.1023/A:1007819604245
   Web of Science ®Google Scholar
• Engle, R. F., & Granger, C. W. (1987). Co-integration and error correction: Representation, estimation and testing. Econometrica: Journal of the Econometric Society, 55(2), 251–276. doi:10.2307/1913236
   Web of Science ®Google Scholar
• Financial Accounting Standards Board (FASB). (n.d.). Statement of Position 93-7. Retrieved from
   Google Scholar
• Franses, P. H., & Vroomen, B. (2006). Estimating confidence bounds for advertising effect duration intervals. Journal of Advertising, 35(2), 33–37. doi:10.1080/00913367.2006.10639234
   Web of Science ®Google Scholar
• Graham, R. C., & Frankenberger, K. D. (2011). The earnings effects of marketing communication expenditures during recessions. Journal of Advertising, 40(2), 5–24. doi:10.2753/JOA0091-3367400201
   Web of Science ®Google Scholar
• Gregory, S., & Kim, J. (2004). Restaurant choice: The role of information. Journal of Foodservice Business Research, 7(1), 81–95. doi:10.1300/J369v07n01_06
   Google Scholar
• Gujarati, D. N. (1995). Basic Econometrics (3rd ed.). New York, NY: McGraw-Hill.
   Google Scholar
• Gujarati, D. N., & Porter, D. C. (2009). Basic econometrics (5th ed.). New York, NY: McGraw-Hill/Irwin.
   Google Scholar
• Herrington, J. D. (2002). The current impact and carryover of advertising on sales in the restaurant industry. Journal of Foodservice Business Research, 5(3), 5–18. doi:10.1300/J369v05n03_02
   Google Scholar
• Herrington, J. D. (2005). Are restaurant franchisees getting a positive return on their advertising fees? Journal of Promotion Management, 11(1), 71–81. doi:10.1300/J057v11n01_05
   Google Scholar
• Hsu, L., & Jang, S. (2008). Advertising expenditure, intangible value and risk: A study of restaurant companies. International Journal of Hospitality Management, 27(2), 259–267. doi:10.1016/j.ijhm.2007.07.012
   Web of Science ®Google Scholar
• Hsu, M. K., Darrat, A. F., Zhong, M., & Abosedra, S. S. (2002). Does advertising stimulate sales or mainly deliver signals? A multivariate analysis. International Journal of Advertising, 21(2), 175–195.
   Google Scholar
• Kamal, S., & Wilcox, G. B. (2014). Examining the relationship between advertising expenditures and sales of quick-service restaurants in the United States. Journal of Food Products Marketing, 20(1), 55–74. doi:10.1080/10454446.2013.807408
   Google Scholar
• Kantar Media. (2012). Ad$pender database. Retrieved from http://www.kantarmedia.com/us
   Google Scholar
• Koyck, L. M. (1954). Distributed lags and investment analysis. Amsterdam, the Netherlands: North-Holland Publishing.
   Google Scholar
• Lee, J., Shin, B. S., & Chung, I. (1996). Causality between advertising and sales: New evidence from cointegration. Applied Economics Letters, 3, 299–301. doi:10.1080/135048596356393
   Web of Science ®Google Scholar
• Lee, K., & Ha, I. (2012). Exploring the impacts of key economic indicators and economic recessions in the restaurant industry. Journal of Hospitality Marketing & Management, 21(3), 330–343. doi:10.1080/19368623.2011.611752
   Google Scholar
• Moriarty, M. M. (1983). Carryover effects of advertising on sales of durable goods. Journal of Business Research, 11(1), 127–137. doi:10.1016/0148-2963(83)90043-7
   Web of Science ®Google Scholar
• Mortimer, K. (2008). Identifying the components of effective service advertisements. Journal of Services Marketing, 22(2), 104–113. doi:10.1108/08876040810862859
   Google Scholar
• Park, K., & Jang, S. (2012). Duration of advertising effect: Considering franchising in the restaurant industry. International Journal of Hospitality Management, 31(1), 257–265. doi:10.1016/j.ijhm.2011.05.001
   Web of Science ®Google Scholar
• Sargan, J. D. (1964). Wages and prices in the United Kingdom: A study in econometric methodology. In P. E. Hart, G. Mills, & J. N. Whittaker (Eds.), Econometric analysis for national economic planning (Vol. 16, pp. 25–54). London, UK: Butterworths.
   Google Scholar
• Sargan, J. D., & Bhargava, A. S. (1983). Testing residuals from least squares regression for being generated by the Gaussian random walk. Econometrica: Journal of the Econometric Society, 51(1), 153–174. doi:10.2307/1912252
   Web of Science ®Google Scholar
• Sethuraman, R., Tellis, G. J., & Briesch, R. A. (2011). How well does advertising work? Generalizations from meta-analysis of brand advertising elasticities. Journal of Marketing Research, 48(3), 457–471. doi:10.1509/jmkr.48.3.457
   Web of Science ®Google Scholar
• Srinivasan, S., Vanhuele, M., & Pauwels, K. (2010). Mind-set metrics in market response models: An integrative approach. Journal of Marketing Research, 47(4), 672–684. doi:10.1509/jmkr.47.4.672
   Web of Science ®Google Scholar
• Srinivasan, V., & Weir, H. A. (1988). A direct aggregation approach to inferring microparameters of the Koyck advertising-sales relationship from macro data. Journal of Marketing Research, 25(2), 145–156. doi:10.2307/3172646
   Web of Science ®Google Scholar
• Stassen, R. E., & Mittelstaedt, R. A. (2002). Do franchise systems advertise enough? U.S. restaurant expenditures and performance 1989 to 1998. Journal of Marketing Channels, 10(2), 3–18. doi:10.1300/J049v10n02_02
   Google Scholar
• Tellis, G. J., & Weiss, D. L. (1995). Does TV advertising really affect sales? The role of measures, models, and data aggregation. Journal of Advertising, 24(3), 1–12. doi:10.1080/00913367.1995.10673479
   Web of Science ®Google Scholar
• U.S. Census Bureau. (2012). Annual retail trade survey. Retrieved from http://www.census.gov/retail/#arts.
   Google Scholar
• Vakratsas, D., & Ambler, T. (1999). How advertising works: What do we really know? Journal of Marketing, 63(1), 26–43. doi:10.2307/1251999
   Web of Science ®Google Scholar
• Vakratsas, D., & Ma, Z. (2005). A look at the long-run effectiveness of multimedia advertising and its implications for budget allocation decisions. Journal of Advertising Research, 45(2), 241–254. doi:10.1017/S0021849905050269
   Web of Science ®Google Scholar
• Weiss, D. L., Weinberg, C. B., & Windal, P. M. (1983). The effects of serial correlation and data aggregation on advertising measurement. Journal of Marketing Research, 20(3), 268–279. doi:10.2307/3151830
   Web of Science ®Google Scholar
• Zhou, N., Zhou, D., & Ouyang, M. (2003). Long-term effects of television advertising on sales of consumer durables and nondurables—The case of China. Journal of Advertising, 32(2), 45–54. doi:10.1080/00913367.2003.10639128
   Web of Science ®Google Scholar