Working Paper

Is There a Hierarchy of Effects in Advertising? Empirical Generalizations for Consumer Packaged Goods

Koen Pauwels

Northeastern University

Albert Valenti

IESE Business School

Shuba Srinivasan

Boston University

Gokhan Yildirim

Imperial College Business School

Marc Vanhuele

HEC Paris

Dec 29, 2020


Analyzes how cognition, affect and experience mediate advertising effects on sales, using data from 178 fast-moving consumer goods brands in 18 categories over seven years. Demonstrates that the traditional Hierarchy of Effects (HoE) model holds up well, but varies across cpg brands with the primary sequence being affect → cognition → experience (ACE).

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