| 초록 |
The purpose of this study is to evaluate the economic impacts of generic advertisement in an agricultural sector. In particular, we pay attention to the effects of dairy checkoff program on dairy markets in Korea. In 2003, 87.7% of dairy checkoff found was used for generic fluid milk advertising. This paper examines the impacts of generic milk advertising expenditures on fluid milk sales by estimating advertising response elasticities of both generic and brand advertisement. The results indicated that generic milk advertising had a positive impact on milk sales. In addition, the model was simulated to estimate the impact of generic milk advertising on milk consumption from 2002~2003. An estimated benefit-cost ratio in 2003 was 23.7 indicating that every won invested into dairy checkoff returned \23.7 back in terms of revenue to dairy farmers.
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