Quote

Marketing executives like big budgets, as big budgets make it easier to grow the top line.

You need to make certain decisions to expand your market.

It is very likely that many firms spend more on advertising than, for their own best interests, they should.

Advertising is a valuable economic factor because it is the cheapest way of selling goods, particularly if the goods are worthless.

Part of how we decide how we allocate our media is we have fairly sophisticated ways of measuring our return on marketing spend, which helps us best analyze the most effective way and medium in which to spend our marketing dollars.

Two common conceptions with regard to advertising which are held by a considerable number of people are that enormously large sums of money are expended for it, and that much of this expenditure is an economic waste.

Build into each budget the cost of hiring and don't lump yourself with capital investment.

The market turns out to be just one special case of collective decision-making.

Market design is about understanding the details of markets in sufficient detail so that we can help fix them when they are broken.

The market for local advertising is in the billions.