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A long-term view of the effectiveness of wool promotion schemes

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  • Abbott, Malcolm

Abstract

The purpose of this article is to discuss the various phases that the promotion of wool passed through and to then analyse, econometrically, the effectiveness of this promotional activity. In particular, the promotional expenditure elasticity of demand and the own price elasticity of demand will be determined, the latter being important because promotional expenditure has been found to be more effective, ceteris paribus, as demand becomes less elastic. The econometric study is limited to the Australian and New Zealand markets and shows that an increase in promotional expenditure led to a slight increase in demand of 0.097%.

Suggested Citation

  • Abbott, Malcolm, 2016. "A long-term view of the effectiveness of wool promotion schemes," Agrekon, Agricultural Economics Association of South Africa (AEASA), vol. 54(3), January.
    • Handle: RePEc:ags:agreko:346844
    DOI: 10.22004/ag.econ.346844
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    References listed on IDEAS

    as
    1. Richardson, Bob, 2001. "The politics and economics of wool marketing, 1950-2000," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 45(1), pages 1-21.
    2. D.J. Hill & Roley R. Piggott & Garry R. Griffith, 1996. "Profitability Of Incremental Expenditure On Fibre Promotion," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 40(3), pages 151-174, December.
    3. Marc Nerlove & Frederick V. Waugh, 1961. "Advertising without Supply Control: Some Implications of a Study of the Advertising of Oranges," American Journal of Agricultural Economics, Agricultural and Applied Economics Association, vol. 43(4_Part_I), pages 813-837.
    4. repec:bla:ecorec:v:72:y:1996:i:218:p:260-71 is not listed on IDEAS
    5. Henry Haszler & Geoff Edwards & Anthony Chisholm & Phillip Hone, 1996. "The Wool Debt, the Wool Stockpile and the National Interest: Did the Garnaut Committee Get it Right?," The Economic Record, The Economic Society of Australia, vol. 72(218), pages 260-271, September.
    6. Veronica Jacobsen & Grant M. Scobie, 1995. "Statutory Power and Agricultural Marketing: The New Zealand Experience," Agenda - A Journal of Policy Analysis and Reform, Australian National University, College of Business and Economics, School of Economics, vol. 2(1), pages 73-80.
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    8. Malcolm Abbott, 2013. "Market support schemes and their interaction: the case of the wool industry," Agrekon, Taylor & Francis Journals, vol. 52(3), pages 63-82, September.
    9. Goddard, Ellen W. & Griffith, Garry R. & Quilkey, John J. & Conboy, Paula, 1993. "International Wool Promotion Effectiveness," 1993 Conference (37th), February 9-11, 1993, Sydney, Australia 147632, Australian Agricultural and Resource Economics Society.
    10. Hill, Debbie J. & Piggott, Roley R. & Griffith, Garry R., 1996. "Profitability Of Incremental Expenditure On Fibre Promotion," Australian Journal of Agricultural Economics, Australian Agricultural and Resource Economics Society, vol. 40(3), pages 1-24, December.
    11. Abbott, Malcolm, 1999. "The End of Sixty Years of International Wool Promotion," Choices: The Magazine of Food, Farm, and Resource Issues, Agricultural and Applied Economics Association, vol. 14(2), pages 1-4.
    Full references (including those not matched with items on IDEAS)

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