Advertising Drove $7.1T In 2021 U.S. Sales, Ad Coalition Study Finds
- by Laurie Sullivan @lauriesullivan, May 25, 2022
Research released from The Advertising Coalition and conducted by IHS Markit on Wednesday finds that advertising generated $7.1 trillion in sales in 2021, and it supported 28.5 million U.S. jobs.
The study found that the total impact of advertising and its multiplier effects represented 18.5% of U.S. gross domestic product …
3 comments about "Advertising Drove $7.1T In 2021 U.S. Sales, Ad Coalition Study Finds".
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There is no doubt that advertising sells product. However trying to pin a specific value on advertising---as this "study" tries to do ----usually fail as they are unable---or unwilling---- to obtain the full range of relevant information needed and their core assumptions about what causes what---or whether this can be determined statistically by multiple correlations---often are questionable.
Golly Gosh. Silly old me.
And all along I thought that the actual product-service etc. had some influence. Oh, and once-upon-a-time price, packaging, distribution and placement seemed to have some importance. I also seem to recall brand used to be powerful.
The good news is that you don't need any of the above, just advertising will make do.
John, don't forget word- of- mouth endorsements by family members and trusted friends---one of the most powerful stimulants for sales.