tag:blogger.com,1999:blog-3722233.post1729382940974134289..comments2024-03-28T18:17:00.135-05:00Comments on Computational Complexity: Commercials are not logical. FTX edition. Lance Fortnowhttp://www.blogger.com/profile/06752030912874378610noreply@blogger.comBlogger8125tag:blogger.com,1999:blog-3722233.post-24077976783662981772022-12-14T12:36:28.944-06:002022-12-14T12:36:28.944-06:00A celebrity helps with brand/product awareness bec...A celebrity helps with brand/product awareness because people are more likely to pay attention to the ad in the first place.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3722233.post-30989093232757431932022-12-14T05:56:00.908-06:002022-12-14T05:56:00.908-06:00I haven't been back to the states recently, bu...I haven't been back to the states recently, but every time I do, I'm horrified at the shoddiness/cheapness of US TV ads. OK, I'm spoiled: I live in Japan where the ads are flipping gorgeous. As a wannabe landscape photographer, my jaw drops regularly. But there is great dizziness here as well. You all know Japanese sake, but you may not know shochu (check out the (English) wiki page). Shochu is essentially a (somewhat lower proof) rotgut vodka; it's a very Japanese thing, and until recently a rather funky end of Japanese society Japanese thing. One of the top shochu distillers has incessent adds that show English countryside scenery with castles and sheep, kewl music, and someone intoning the name of the brand. With drop-dead gorgeous cinematography. But completely crazy in that no one in England has any idea that there's such a thing as shochu. Go figure. (The one native informant I asked about the ad claims to have never noticed its incongrinuity. Go figure, again.)<br /><br />An important aspect of advertising is brand maintenance. A customer who has purchased a product is reasonably aware of its plusses and minusses, but reminding said customer that the brand is cool, or good in some other way (pushes technology, whatever) has value in maintaining repeat sales.<br />DJLhttps://www.blogger.com/profile/04036156397398405817noreply@blogger.comtag:blogger.com,1999:blog-3722233.post-76070499860993755492022-12-13T15:14:59.892-06:002022-12-13T15:14:59.892-06:00Since u mentioned a book about it, what do u think...Since u mentioned a book about it, what do u think about advertising for charity?<br />Is it acceptable for charity organizations to make commercial ads?and to what limit?Is there a scientific thresholds for it?<br />I know this is kind of drifting from the main point of the blog, but it really makes me think how much of the charity money is spend on ads not on the donated cause?and whether donors would agree if they knew the real numbers?<br />Thanks Shymaa Arafathttps://www.blogger.com/profile/16104623792044276239noreply@blogger.comtag:blogger.com,1999:blog-3722233.post-86504105657873467012022-12-13T08:53:40.932-06:002022-12-13T08:53:40.932-06:00Some additional explainations from economics:
- D...Some additional explainations from economics:<br /> - Demonstrating the product is so excellent and will be so profitable they can afford to waste money on advertising (similar to the logic for peacocks)<br /> - Create a barrier to entry for competition (not only do you need a better product, you also need a large advertising budget)<br /> - Complement your purchase of the item you are buying<br /> by, e.g., making it more prestigious to own (like your explanation (d) for luxury goods)<br /><br />For a survey, see Bagwell, Kyle. "The economic analysis of advertising." Handbook of industrial organization 3 (2007): 1701-1844.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3722233.post-21619980584029618252022-12-13T07:38:18.260-06:002022-12-13T07:38:18.260-06:00I thought it was accepted that the main reason pub...I thought it was accepted that the main reason publicity works is by exploiting cognitive biases, such as the fact that simply being repetitively exposed to a brand makes us want to buy it. It is hard to have control over these biases, and that is why publicity should be more heavily regulated.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-3722233.post-45483840812120211312022-12-13T05:24:15.086-06:002022-12-13T05:24:15.086-06:00I think this article goes well with your argument ...I think this article goes well with your argument here<br />https://www.dailyfetched.com/celebrities-silent-after-taking-ftx-cash-as-sam-bankman-fried-arrested-in-bahamas/Shymaa Arafathttps://www.blogger.com/profile/16104623792044276239noreply@blogger.comtag:blogger.com,1999:blog-3722233.post-82473355841114160482022-12-12T21:36:11.705-06:002022-12-12T21:36:11.705-06:00While TV/radio shows often had hosts reading comme...While TV/radio shows often had hosts reading commercial messages, and sports stars often endorsed products, it seems that having A-list actors do TV commercials as themselves only really got going in the early 1970s. (See the <br />following <a href="https://go.gale.com/ps/anonymous?id=GALE|A176189268&sid=googleScholar&v=2.1&it=r&linkaccess=abs&issn=03624331" rel="nofollow"> NYT article</a> <br />which references TV commercials with Laurence Olivier and Alan Alda endorsing the Polaroid SX-70 camera as breaking the ice for many others. (The article unfortunately is behind a paywall.)<br /><br />BTW: the focus of your questions does seem to miss the point of having celebrity endorsement by focusing on whether the endorsement has intrinsic value to the potential purchaser.<br /><br />None of this is actually about the product itself, or even taking the word of the celebrity as something you should believe; it is about associating purchasing that item with *being* that celebrity. That is true at least as much for sporting equipment - if I have these shoes I will be able to be like Michael Jordan or Le Bron James. (The sports stars may have expertise in the area but that is actually irrelevant.)<br /><br />Many of these celebrities seem to have taken some of their pay in cryptocurrency even before endorsement (and probably for the commercials themselves). When these are Ponzi schemes, this is just one more way in which you can be like a celebrity.Paul Beamenoreply@blogger.comtag:blogger.com,1999:blog-3722233.post-85989258777033252602022-12-12T02:57:13.903-06:002022-12-12T02:57:13.903-06:00I think because people thinks celebrities care abo...I think because people thinks celebrities care about their credibility; ie, he/she has a well paid experts so that they won't jopordize their name for a Ponzi scheme.<br />& Some other times if the product is not that expensive, they may try it or favor it because they liked the advertisement Shymaa Arafathttps://www.blogger.com/profile/16104623792044276239noreply@blogger.com