Research / BFI Working PaperJun 13, 2022

Intangible Marketing Capital

Bart Bronnenberg, Jean-Pierre Dubé, Chad Syverson

We present several empirical facts about trends in marketing investment in the US. We also present estimates of the private value of brands to firms and aggregate intangible brand capital stocks created by these investments. These investments include the creation and maintenance of a brand name and all its corresponding brand elements (e.g., awareness, reputation, image, etc.), along with the investments in the labor force used to manage and oversee the branding. We then discuss the private benefits to firms from their advertising and the established academic wisdom for the striking magnitude of marketing outlays. Finally, we explore the welfare implications of investments in brand capital.

More Research From These Scholars

BFI Working Paper Jul 27, 2018

How Wide Is the Firm Border?

Enghin Atalay, Ali Hortaçsu, Mary Jialin Li, Chad Syverson
Topics:  Uncategorized
BFI Working Paper Mar 28, 2021

Millennials and the Take-Off of Craft Brands: Preference Formation in the U.S. Beer Industry

Bart J. Bronnenberg, Jean-Pierre Dubé, Joonhwi Joo
Topics:  Uncategorized
White Paper Jun 10, 2020

The COVID Crisis and Productivity Growth

Filippo di Mauro , Chad Syverson
Topics:  COVID-19