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Industry Views on Beverage Alcohol Advertising and Marketing, with Special Reference to Young People

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Introduction

1. Both leading beverage alcohol producers and WHO recognize that alcohol abuse and alcohol dependence are significant public health problems. Although differences certainly exist in views about the relative importance of the health benefits of moderate drinking or the definitions of what might be called harmful drinking, there is agreement that irresponsible and excessive alcohol consumption can lead to adverse health and social consequences, both in the short and long term. A key area of common concern relates to alcohol consumption by young people, which has been perceived in developed and developing countries as an important problem.

2. There are two distinct aspects of this problem. The first relates to the consumption of beverage alcohol by those under the minimum legal drinking age, however that is defined in any particular country. The other is a pattern of drinking by

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Outcome Uncertainty, Attendance, and Television Audience in NASCAR

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Abstract

Using data from the 2007, 2008 and 2009 NASCAR seasons, this paper shows that the uncertainty of outcome hypothesis pertains to both race attendance and television audience, with the former only responding to race-level uncertainty and the latter responding to both race-level and season-level uncertainty. Of the other contributing influences, the price of gasoline and the unemployment rate were both unrelated to race attendance during the sample period, counter to conventional wisdom expressed during the declining attendance and ratings of the 2009 season. We also find that NASCAR broadcasts lose audience when competing against other big-interest sporting events and that declines in both television ratings and audience size during the NASCAR season were not unique to 2009, again contradicting conventional wisdom. Overall, the empirical evidence suggests that declining competitive balance might have been the common factor that reduced both television audiences and race attendance during this period.

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The Economic Analysis of Advertising

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1. Introduction

By its very nature, advertising is a prominent feature of economic life. Advertising reaches consumers through their TV sets, radios, newspapers, magazines, mailboxes, computers and more. Not surprisingly, the associated advertising expenditures can be huge. For example, Advertising Age (2005) reports that, in 2003 in the U.S., General Motors spent $3.43 billion to advertise its cars and trucks; Procter and Gamble devoted $3.32 billion to the advertisement of its detergents and cosmetics; and Pfizer incurred a $2.84 billion dollar advertising expense for its drugs. Advertising is big business indeed.

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