Nerd alert. No, we are not cut from the cloth of marketers who will cover nothing but holiday ads and consumer buying habits during the holidays. Yes, we'll mention something if it's interesting, but we're marketing strategists at heart, and if we don't cover ways to apply marketing theory or engage in cross-discipline application, we get very bored and antsy.
Again, nerd alert.
We have a market and marketing strategy background, meaning that we thoroughly enjoy examining how different parties compete against each other, all the while determining the best course of action in specific marketplaces.
When it comes to advertising and marketing, we were initially drawn to it because of the power of influence. We were fascinated to see how words and graphics can influence the decisions of millions of men and women.
Then, after diving more into behavioral economics, we were hooked.
But there are only a few research projects really out there that explore how our industry really works. We would love to see studies that show how AdLand ticks.
What is the most common college major of advertising agency executives?
What was the last job a professional had before choosing a career in advertising and marketing (asked to people who've been in the job for at least five years)?
What is typical go-to stress reliever?
What is the average birth order of creatives? Account managers?
How many advertisers do not have cable or satellite TV (cord-cutters)?
Then we would like to see some economic theory tossed into the mix. We have always toyed around with the notion of conducting research on how Dead Weight Loss (DWL) in an industry could affect the advertising expenditures. If you remember DWL, it is the event where product is lost due to arbitrary involvement by outside influences. The influences could be the government, substitutes, economic downturn, company exits, and so on. We would like to assume that there is a negative correlation with it (as DWL increases, ad spending decreases), but we do not know for sure.
Along with that, we would like to add our DWL CoEfficiency to Fishbein-Azjen's Theory of Reasoned Action (TRA) theory. This theory adds values and weights based on how people view certain goods and services. Now, if a good or service would have a certain value under TRA, we would be interested to see how behavior shifts once our DWL coefficiency could be added.
Could be a bust. Could be an astounding act of research. Who knows?
We're fine with sharing our research ideas. Hey, we hope our ideas get the vetting and critiquing they deserve.
Dwayne W. Waite Jr. is partner and principal at JDW: The Charlotte Agency, a marketing and advertising shop in Charlotte, NC. He enjoys consumer behavior, economics, and football.