The Role of Advertising by the Chemical Industry F. A. C. W A R D E N B U R G
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E. I. du Pont de Nemours & Co., Inc., Wilmington 98,
Del.
The intense competition that is expected to charac terize the 1960's can only mean that we will have to step up sales activities. Advertising will be no exception. The chemical industry probably now spends at least $300,000,000 a year to advertise its products. By 1970 it will be spending $750,000,000. Increased size is not the only change expected. Advertising will be aimed at a bigger audience, and to a greater extent at the consuming public. Services available to the customer will be played up more, and institutional advertising will be more important. Companies must make a de termined effort to develop the art of advertising research. W e need to know how and why adver tising works and what effect it has on sales, so that decisions on how much to spend will be more soundly based.
I here seems t o be a u n i v e r s a l f a s c i n a t i o n i n s p e c u l a t i n g a b o u t the f u t u r e , a n d the more d i s t a n t the p e r i o d , the greater the f a s c i n a t i o n . I n business, a o n e - y e a r forecast is p r o s a i c , b u t a t e n - y e a r forecast is a l m o s t r o m a n t i c . T h i s i s i n p a r t , at least, due t o the f a c t t h a t the s h o r t - t e r m forecaster w i l l be b r o u g h t t o account for the success or f a i l u r e of the decisions based on his p r e d i c t i o n s . T h e l o n g range forecast, however, w i l l a l m o s t c e r t a i n l y h a v e been forgotten b y e v e r y b o d y — i n c l u d i n g the p r o p h e t h i m s e l f — l o n g before i t has r u n its course. T h e role of a d v e r t i s i n g a t a n y t i m e is s i m p l y to assist sales. A d v e r t i s i n g has no other j u s t i f i c a t i o n . I f i t does n o t p r o m o t e present or f u t u r e sales, i t s h o u l d be d i s c o n t i n u e d . A v e r y r e a l p r o b l e m , of course, is d e t e r m i n i n g w h e t h e r a p a r t i c u l a r a d v e r t i s i n g p r o g r a m has or has not helped sales. T h e n a t u r e of the sales p r o b l e m s w h i c h w i l l face c h e m i c a l m a n u f a c t u r e r s i n t h e next decade w i l l d e t e r m i n e the n a t u r e of the t a s k s t h a t a d v e r t i s i n g w i l l be c a l l e d u p o n t o p e r f o r m . E c o n o m i c c o n d i t i o n s i n the ΙθβΟ'β w i l l depend u p o n m a n y t h i n g s : t h e r a t e at w h i c h the p o p u l a t i o n grows, b o t h i n t o t a l a n d b y specific age groups ; the r a t e of t e c h n o l o g i c a l a d v a n c e ; t h e g r o w t h of p r o d u c t i v i t y of employees a n d of i n v e s t m e n t ; the course of l a b o r - m a n a g e m e n t r e l a t i o n s ; a n d the w i s d o m of g o v e r n m e n t m o n e t a r y a n d fiscal p o l i c y . T h e s e factors are i n t e r r e l a t e d , each d e p e n d i n g to some degree on the others, a n d each i n f l u e n c i n g the others. 3* CHEMICAL MARKETING IN THE COMPETITIVE SIXTIES Advances in Chemistry; American Chemical Society: Washington, DC, 1959.
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A n y long-range a n a l y s i s of economic c o n d i t i o n s m u s t be based o n specific a s s u m p t i o n s r e g a r d i n g each of these. F o r o u r purpose, however, w e s h o u l d look briefly at only t w o — p o p u l a t i o n growth a n d p r o d u c t i v i t y .
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Population Growth W e c a n be more c e r t a i n a b o u t p o p u l a t i o n g r o w t h t h a n a b o u t t h e other factors, because t h e people t h a t are going t o be i m p o r t a n t t o business i n t h e 1960's are a l r e a d y b o r n . T h e r e w i l l be no d r a m a t i c g r o w t h i n t h e t o t a l p o p u l a t i o n . I t is expected t o continue t o increase a b o u t 1 . 5 % a y e a r , r i s i n g f r o m its present l e v e l of 178,000,000 t o 208,000,000 i n 1970. I t is i n t h e c o m p o s i t i o n of t h e p o p u l a t i o n , however, t h a t d r a m a t i c changes w i l l t a k e place. B e t w e e n 1960 a n d 1970 t h e n u m b e r s of y o u n g people between the ages of 18 a n d 24 w i l l increase 5 2 % , c o m p a r e d w i t h o n l y 2 % f r o m 1950 t o 1960. T h e next higher age g r o u p , however, those f r o m 25 t o 3 9 , w i l l increase b y o n l y 3 % . T h o s e u n d e r 18 a n d over 40 w i l l grow a t a b o u t t h e average r a t e , or some 1 5 % d u r i n g t h e decade. T h e great increase i n t h e 18 t o 24 age group is s p e c t a c u l a r i n itself, b u t its i m p a c t w i l l be m a g n i f i e d because most of t h e g r o w t h w i l l occur i n t h e l a s t h a l f of t h e decade. T h i s has i m p o r t a n t i m p l i c a t i o n s f o r business. D u r i n g t h e e a r l y 1960's there w i l l be a c o n t i n u e d shortage of s k i l l e d l a b o r a n d college graduates. T h e r a t e of f a m i l y f o r m a t i o n w i l l be r e l a t i v e l y constant. D u r i n g the l a s t h a l f of t h e decade, however, these c o n d i t i o n s w i l l change s h a r p l y as these y o u n g people come o n t o t h e l a b o r m a r k e t s i n i n c r e a s i n g n u m b e r s . T h e y w i l l be m a r r y i n g , a n d b u y i n g s m a l l homes, l o w p r i c e d cars, a n d household a p p l i a n c e s — m o s t l y o n credit. T h e s e t h i n g s w i l l n o t h a p p e n , of course, unless there a r e j o b s enough t o go a r o u n d , b u t w e believe t h a t t h i s w i l l be t h e case. T h e 25 t o 39 age group w i l l increase v e r y l i t t l e . T h i s is n o t w i t h o u t i t s i m p l i c a t i o n s f o r business. T h e m a r k e t for h i g h e r p r i c e d cars, homes, a p p l i ances, a n d so o n w i l l necessarily grow less r a p i d l y . T h e i m p o r t a n c e of p r i c e i s expected t o be even greater t h a n i t is t o d a y . T o p r e d i c t t h a t t e c h n o l o g i c a l advances i n t h e t e n y e a r s a h e a d w i l l c o n t i n u e a t a b o u t t o d a y ' s pace seems a v e r y c o n s e r v a t i v e a s s u m p t i o n i n d e e d . I f w e do n o better t h a n we are n o w d o i n g , t h e p r o d u c t i v i t y of l a b o r a n d c a p i t a l c o m b i n e d s h o u l d continue t o rise a t a n average r a t e of 2 % p e r y e a r . T h e s e gains i n p r o d u c t i v i t y cannot be t a k e n for g r a n t e d . T h e y m u s t be created b y i n d i v i d u a l s a n d business c o r p o r a t i o n s — t h e r e m u s t be adequate i n c e n t i v e f o r s a v i n g s a n d i n v e s t m e n t , a n d profits m u s t be large enough t o encourage r i s k t a k i n g . A n y r e s t r i c t i o n s o n c a p i t a l f o r m a t i o n w i l l l i m i t p r o d u c t i v i t y gains. I a m a s s u m i n g , therefore, t h a t these necessary c o n d i t i o n s w i l l be present. If we a d d to t h e 2 % g a i n i n p r o d u c t i v i t y a n average increase i n p o p u l a t i o n of 1 . 5 % p e r y e a r , w e m u s t conclude t h a t gross n a t i o n a l p r o d u c t s h o u l d increase a t a n average r a t e of 3 . 5 % t h r o u g h o u t t h e 1960's. B y 1970 t h e gross n a t i o n a l p r o d u c t w i l l be a p p r o x i m a t e l y $700 b i l l i o n a t present prices as c o m p a r e d w i t h a n e s t i m a t e d $475 b i l l i o n i n 1959. T h e s e projections assume t h a t there w i l l be n o serious depression s i m i l a r t o t h a t of t h e 1930's b u t t h a t w e s h a l l h a v e a n o c c a s i o n a l m i l d recession. B u s i n e s s fluctuations are i n e v i t a b l e i n a society where economic decisions a r e d e c e n t r a l i z e d . T h e s e estimates also assume no s u b s t a n t i a l change i n t h e w a r s i t u a t i o n i n t h e decade of t h e 1960's, b u t c o n t i n u a t i o n of t h e " c o l d w a r . " CHEMICAL MARKETING IN THE COMPETITIVE SIXTIES Advances in Chemistry; American Chemical Society: Washington, DC, 1959.
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Productivity T h e index of i n d u s t r i a l p r o d u c t i o n p r e p a r e d b y the F e d e r a l R e s e r v e B o a r d is now about 155, representing a rise i n the o u t p u t of factories a n d m i n e s i n p h y s i c a l terms of a b o u t 5 5 % since the 1947-1949 p e r i o d . I t w i l l rise t o a p e a k of 160 to 165 l a t e next y e a r . T h e index of p r o d u c t i o n of c h e m i c a l s a n d a l l i e d p r o d u c t s is n o w a b o u t 210. I t w i l l rise to a p e a k of 225 i n 1960. T h e r e m a y be some decline i n p r o d u c t i o n d u r i n g 1961 or 1962 because of excesses w h i c h u s u a l l y develop d u r i n g periods of p r o s p e r i t y , b u t the t r e n d of p r o d u c t i o n i n t h i s c o u n t r y is u p w a r d . I n d u s t r i a l p r o d u c t i o n is expected to continue r i s i n g i n the second h a l f of the 1960's, w h e n f a m i l y f o r m a t i o n , r e s i d e n t i a l c o n s t r u c t i o n , a u t o m o b i l e p r o d u c t i o n , a n d i n d u s t r i a l e x p a n s i o n w i l l be s i g n i f i c a n t l y higher t h a n t h e y are t o d a y . W e expect the index of i n d u s t r i a l p r o d u c t i o n i n 1970 to be about 225, representing a n a n n u a l g r o w t h rate of a b o u t 4 % over the next 11 y e a r s . O u t p u t of the c h e m i c a l i n d u s t r y m a y reach a n i n d e x of 400 b y 1970, representing a n a n n u a l g r o w t h rate of about 6 % . A t t a i n m e n t of these g r o w t h rates over the next decade w i l l r e q u i r e e x p a n s i o n of our present research p r o g r a m s , w i t h consequent d e v e l o p m e n t a n d i n t r o d u c t i o n of m a n y new p r o d u c t s , a v e r y large v o l u m e of new i n v e s t m e n t , r e s t r a i n t of p r i c e increases, r e s t r a i n t on the expansion of nondefense a c t i v i t i e s of the F e d e r a l G o v e r n m e n t , a n d a s u b s t a n t i a l rise i n e m p l o y m e n t . T h e 1960*8 w i l l be c h a r a c t e r i z e d i n most lines of business b y intense c o m p e t i t i o n ; t h i s w i l l c e r t a i n l y be t r u e of the c h e m i c a l i n d u s t r y . W a r - i n d u c e d shortages, so p r e v a l e n t after W o r l d W a r I I , w h i c h c o n t i n u e d u n t i l w e l l after the K o r e a n W a r , are t h i n g s of the past. M a n y i m p o r t a n t c h e m i c a l p r o d u c t s are i n o v e r s u p p l y t o d a y , a n d I d o u b t i f t h i s s i t u a t i o n w i l l change m u c h before 1965. E v e n w i t h the accelerated rate of business e x p a n s i o n i n the l a s t h a l f of the next decade, shortages of p r o d u c t i o n c a p a c i t y i n o u r i n d u s t r y s h o u l d be i n f r e q u e n t a n d of short d u r a t i o n . T h i s c a n o n l y m e a n t h a t we w i l l h a v e t o step u p o u r sales a c t i v i t i e s , a n d a d v e r t i s i n g w i l l be no exception. F e w people r e a l i z e t h a t a d v e r t i s i n g is a $10 b i l l i o n i n d u s t r y . T o t a l n a t i o n a l a d v e r t i s i n g expenditures m a y , i n f a c t , reach $11 b i l l i o n t h i s y e a r . A d v e r t i s i n g has i n the past decade g r o w n m u c h more r a p i d l y t h a n i n d u s t r i a l p r o d u c t i o n , gross n a t i o n a l p r o d u c t , or a l m o s t a n y other index of economic a c t i v i t y . T h e e x p l a n a t i o n is to be f o u n d , i n the f a c t t h a t c o m p e t i t i o n has become more intense d i r e c t l y i n p r o p o r t i o n t o the increase i n the a v a i l a b l e s u p p l y of a l l goods a n d services. T h e r e are no r e l i a b l e estimates of t o t a l a d v e r t i s i n g expenditures of the c h e m i c a l i n d u s t r y . F o r one t h i n g , the c h e m i c a l i n d u s t r y does not h a v e v e r y w e l l m a r k e d b o u n d a r i e s . H o w e v e r , we spend a t least $300,000,000 a y e a r t o a d v e r t i s e our p r o d u c t s . B y 1970 the c h e m i c a l i n d u s t r y w i l l be s p e n d i n g $750,000,000 for a d v e r t i s i n g , or a b o u t 1.75% of e v e r y sales d o l l a r . W e c a n n o t assume t h a t a d v e r t i s i n g b y the c h e m i c a l i n d u s t r y t e n y e a r s f r o m n o w w i l l be a b o u t the same as i t is n o w , o n l y m u c h bigger. W e h a v e seen changes i n the p a s t , a n d we s h a l l see more i n the f u t u r e . T h e r e m a y w e l l be shifts i n the audience we seek t o r e a c h , i n the p r o d u c t s a n d services w e t e l l t h e m a b o u t , a n d i n the m e d i a we use t o do the j o b . Some trends are a l r e a d y apparent.
CHEMICAL MARKETING IN THE COMPETITIVE SIXTIES Advances in Chemistry; American Chemical Society: Washington, DC, 1959.
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Advertising Trends O n e change w e c a n p r e d i c t w i t h some degree of assurance i s t h a t w e s h a l l be t a l k i n g t o l a r g e r a n d larger audiences. M o s t c h e m i c a l p r o d u c t s d o n o t r e a c h t h e u l t i m a t e consumer i n t h e i r o r i g i n a l f o r m , b u t are used as ingredients i n t h e p r o d u c t s of o t h e r i n d u s t r i e s — t e x t i l e , a u t o m o t i v e , e l e c t r i c a l , p a p e r , a n d a host of others. M o s t c h e m i c a l a d v e r t i s i n g h a s i n t h e p a s t been d i r e c t e d t o r a t h e r n a r r o w i n d u s t r y audiences, a n d these are, of course, t h e cheapest t o r e a c h . C o m p e t i t i o n i s , however, f o r c i n g us more a n d more t o a d v e r t i s e o v e r t h e heads of o u r d i r e c t customers t o create preferences b y t h e c o n s u m i n g p u b l i c for goods i n w h i c h our o w n p r o d u c t s are i m p o r t a n t ingredients. I t costs a great d e a l m o r e t o r e a c h a m a s s audience w i t h a d v e r t i s i n g t h a n , f o r e x a m p l e , t h e m a n a g e m e n t s of companies m a n u f a c t u r i n g a i r - c o n d i t i o n i n g e q u i p m e n t . I w o u l d expect t h e t r e n d t o w a r d m o r e consumer a d v e r t i s i n g b y t h e c h e m i c a l i n d u s t r y t o continue i n t h e y e a r s a h e a d . M a n y other i n d u s t r i e s w i l l be faced w i t h s i m i l a r c o n d i t i o n s , a n d t h e y w i l l be r a i s i n g t h e i r a d v e r t i s i n g voices. T h e sheer v o l u m e of a d v e r t i s i n g w i l l m a k e i t more a n d more difficult f o r t h e v o i c e of a single c o m p a n y t o be h e a r d . E a c h of us w i l l h a v e to speak more c l e a r l y a n d m o r e t o t h e p o i n t . T h e r e is another t r e n d w h i c h is a l r e a d y e v i d e n t a n d w h i c h w i l l become m o r e a n d m o r e i m p o r t a n t as w e m o v e i n t o the 1960's. P r i c e a n d q u a l i t y differentials are b e c o m i n g less i m p o r t a n t c o m p e t i t i v e weapons. N o single m a n u f a c t u r e r has a m o n o p o l y o n m o d e r n t e c h n o l o g y . S e l l i n g is more a n d m o r e based o n a w i d e range of t e c h n i c a l services t h a t c a n be offered t o o u r customers. W e are a d v e r t i s i n g n o t o n l y o u r p r o d u c t s , b u t also t h e services t h a t a r e a v a i l a b l e t o the customer t o m a k e i t as s i m p l e as possible f o r h i m t o use t h e m . A t t h e same t i m e corporate r e p u t a t i o n is b e c o m i n g more a n d more i m p o r t a n t t o c h e m i c a l m a n u f a c t u r e r s , as t h e y become more dependent o n t h e choice of i n d i v i d u a l consumers. A l l of u s h a v e confidence i n those p r o d u c t s w h i c h w e k n o w t h r o u g h p e r s o n a l experience or b y r e p u t a t i o n , a n d w e hesitate t o t a k e a chance o n those w h i c h are u n k n o w n t o us. T h e less the p u b l i c k n o w s about y o u t h r o u g h a c t u a l use of y o u r p r o d u c t s , the more y o u h a v e t o t e l l t h e m a b o u t y o u r self, i f y o u w i s h t h e m t o prefer a n a r t i c l e c o n t a i n i n g s o m e t h i n g y o u produce. T h i s means i n s t i t u t i o n a l a d v e r t i s i n g , w h i c h h a s as i t s purpose e x p a n d i n g the p u b l i c ' s k n o w l e d g e of j u s t w h o y o u are, w h a t y o u d o , a n d w h a t y o u s t a n d f o r — a n d i n s t i t u t i o n a l a d v e r t i s i n g is also r a t h e r expensive. Preparing Markets for New Products T h e r e is another a r e a i n w h i c h w e c a n m a k e f a r m o r e effective use of a d v e r t i s i n g t h a n w e h a v e i n t h e p a s t , a n d t h a t is i n p r e p a r i n g m a r k e t s f o r new p r o d u c t s . A v e r y considerable percentage of t h e 1970 sales of t h e c h e m i c a l i n d u s t r y w i l l be of p r o d u c t s w h i c h are n o t n o w o n t h e m a r k e t — s t i l l i n t h e l a b o r a t o r y , or i n t h e e a r l y stages of development. S h o r t e n i n g t h e t i m e between i n v e n t i o n a n d m a r k e t i n g c a n m e a n a great d e a l i n t e r m s of increased p r o f i t s . I see n o reason w h y m a n y p r o d u c t s of t h e c h e m i c a l i n d u s t r y c a n n o t be i n t e n s i v e l y a d v e r t i s e d before t h e y are a v a i l a b l e f o r purchase. L a u n c h i n g a n e w c h e m i c a l p r o d u c t requires t e l l i n g a l l t h e p r o s p e c t i v e users of i t s properties a n d i t s p o t e n t i a l a p p l i c a t i o n s . T h e greater t h e interest, t h e greater t h e t e n d e n c y f o r p o t e n t i a l users t o speculate a b o u t possible a p p l i c a t i o n s i n t h e i r o w n operations. CHEMICAL MARKETING IN THE COMPETITIVE SIXTIES Advances in Chemistry; American Chemical Society: Washington, DC, 1959.
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A d v e r t i s i n g c a n spread t h i s i n f o r m a t i o n a n d create t h i s sort of interest more c h e a p l y t h a n c a n d i r e c t contacts. A d v e r t i s i n g c a n n o t replace such d i r e c t contacts, b u t i t c a n u s e f u l l y s u p p l e m e n t t h e m , i f used more e x t e n s i v e l y a n d m u c h e a r l i e r i n the life c y c l e of a p r o d u c t .
Downloaded by CORNELL UNIV on September 2, 2016 | http://pubs.acs.org Publication Date: June 17, 1959 | doi: 10.1021/ba-1959-0024.ch005
Problems A d v e r t i s i n g represents for a l l of us a v e r y s u b s t a n t i a l a n d g r o w i n g i t e m of expense, y e t our decisions as to how m u c h we w i l l spend for a d v e r t i s i n g are n e c e s s a r i l y based on r a t h e r meager d a t a . T h e size of a d v e r t i s i n g budgets is often d e t e r m i n e d b y how m u c h w a s spent l a s t y e a r , or b y next y e a r ' s sales forecast, or b y a guess as t o w h a t a c o m p e t i t o r is spending. N o n e of these has a n y d i r e c t r e l a t i o n s h i p to w h a t a n a d v e r t i s i n g p r o g r a m c a n r e a s o n a b l y be expected to c o n t r i b u t e to f u t u r e profits. O u r best guide is u s u a l l y experience a n d j u d g m e n t . B u t t h i s is r e a l l y not good enough, a n d a d v e r t i s i n g m a n a g e m e n t has a r e s p o n s i b i l i t y t o find s o m e t h i n g better i f i t c a n be f o u n d . I t c a n , if we m a k e a d e t e r m i n e d effort t o develop the a r t of a d v e r t i s i n g research. I c a l l a d v e r t i s i n g research a n a r t r a t h e r t h a n a science. I n its present state t h i s is a more a c c u r a t e d e s i g n a t i o n . Someone has s a i d t h a t the purpose of a large p a r t of w h a t is t e r m e d a d v e r t i s i n g research is s i m p l y t o a d v e r t i s e a d v e r t i s i n g . A n o t h e r p a r t s i m p l y seeks t o measure the success of a n i n d i v i d u a l a d or a c a m p a i g n i n c a p t u r i n g the a t t e n t i o n of readers. M e a s u r e m e n t s are necessary to research, b u t t h e y are not of themselves research, w h i c h s h o u l d seek a n d find new k n o w l e d g e . W e need to k n o w how a n d w h y a d v e r t i s i n g w o r k s , a n d to d o t h i s we m u s t m a k e greater use of m e n t r a i n e d i n the s o c i a l sciences. A b o v e a l l we need t o d i s c o v e r j u s t w h a t effect p a s t a d v e r t i s i n g has h a d on sales, so t h a t we c a n m o r e i n t e l l i g e n t l y e s t i m a t e the benefits t o be o b t a i n e d f r o m future a d v e r t i s i n g . I f we c a n do t h i s , our decisions on how m u c h t o spend w i l l be more s o u n d l y based. B e c a u s e of the large n u m b e r of v a r i a b l e s o p e r a t i n g i n a n y m a r k e t i n g s i t u a t i o n , i s o l a t i n g the effect of a single v a r i a b l e , such as a d v e r t i s i n g , has u n t i l r e c e n t l y seemed a hopeless t a s k . B u t n o w , w i t h the a v a i l a b i l i t y of electronic computers a n d w i t h the g r o w t h since the w a r of operations r e s e a r c h , there seems to be a r e a l p o s s i b i l i t y t h a t the p r o b l e m c a n be s o l v e d . I t m a y seem r a t h e r v i s i o n a r y to a t t e m p t to describe a n y t h i n g as complex as the m a r k e t p l a c e b y a m a t h e m a t i c a l m o d e l , b u t the evidence suggests t h a t i t c a n be done. M u c h t i m e a n d m o n e y a n d — a b o v e a l l — p a t i e n c e are necess a r y , b u t the possible r e w a r d s are v e r y great. A l l advertisers s h o u l d as a m a t t e r of p o l i c y devote some m i n i m u m p e r c e n t age of t h e i r a d v e r t i s i n g budgets to a d v e r t i s i n g research. T h i s figure m i g h t l i e between 1 a n d 2 % . Some s u b s t a n t i a l p a r t of t h i s research a p p r o p r i a t i o n s h o u l d be devoted t o d e t e r m i n i n g the effect of a d v e r t i s i n g on sales. I c a n t h i n k of no i n d u s t r y better q u a l i f i e d t o increase the scientific content of a d v e r t i s i n g research t h a n the c h e m i c a l i n d u s t r y . I f a d v e r t i s i n g is t o p l a y effectively t h e role assigned t o i t i n the c o m p e t i t i v e 6lVs, advertisers m u s t do e v e r y t h i n g i n t h e i r p o w e r t o m a k e i t a s h a r p a n d efficient t o o l .
CHEMICAL MARKETING IN THE COMPETITIVE SIXTIES Advances in Chemistry; American Chemical Society: Washington, DC, 1959.
