Evaluating Generic Dairy Advertising impacts on Retail, Wholesale, and Farm Milk Markets
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This article develops a dynamic econometric model of the national dairy industry to simulate the Impacts of generic advertising on the demand for milk and dairy products, farm and consumer prices, and producer welfare Two advertising scenarios are analyzed (1) a historic scenario, and (2) a pre-National Dairy Promotion and Research Board (NDPRB) scenario, where generic advertising expenditures are held constant at their quarterly level. during the year prior to the NDPRB's inception The results indicate that the program has been effective In raising farm prices, Increasing dairy product demand, and reducing cheese and butter purchases by the Government