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

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  • Malcolm Abbott

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

  • Malcolm Abbott, 2015. "A long-term view of the effectiveness of wool promotion schemes," Agrekon, Taylor & Francis Journals, vol. 54(3), pages 87-106, September.
    • Handle: RePEc:taf:ragrxx:v:54:y:2015:i:3:p:87-106
    DOI: 10.1080/03031853.2015.1085229
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    References listed on IDEAS

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    1. Davidson, Russell & MacKinnon, James G., 1993. "Estimation and Inference in Econometrics," OUP Catalogue, Oxford University Press, number 9780195060119.
    2. 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.
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