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E-grāmata: Modern Advertising and the Market for Audience Attention: The US Advertising Industry's Turn-of-the-Twentieth-Century Transition

(Merrimack College, USA)
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"Modern advertising was created in the US between 1870 and 1920 when advertisers and the increasingly specialized advertising industry that served them crafted means of reliable access to and knowledge of audiences. This highly original and accessible book re-centers the story of the invention of modern advertising on the question of how access to audiences was streamlined and standardized. Drawing from late-nineteenth and early-twentieth-century materials, especially from the advertising industry's professional journals and the business press, chapters on the development of print media, billboard, and direct mail advertising illustrate the struggles amongst advertisers, intermediaries, audience-sellers, and often-resistant audiences themselves. Over time, the maturing advertising industry transformed the haphazard business of getting advertisements before the eyes of the public into a market in which audience attention could be traded as a commodity. This book applies economic theory with historical narrative to explain market participants' ongoing quests to expand the reach of the market and to increase the efficiency of attention harvesting operations. It will be of interest to scholars of contemporary American advertising, the history of advertising more generally, and also of economic history and theory"--

Modern advertising was created in the US between 1870 and 1920 when advertisers and the increasingly specialized advertising industry that served them crafted means of reliable access to and knowledge of audiences.



Modern advertising was created in the US between 1870 and 1920 when advertisers and the increasingly specialized advertising industry that served them crafted means of reliable access to and knowledge of audiences.

This highly original and accessible book re-centers the story of the invention of modern advertising on the question of how access to audiences was streamlined and standardized. Drawing from late-nineteenth and early-twentieth-century materials, especially from the advertising industry’s professional journals and the business press, chapters on the development of print media, billboard, and direct mail advertising illustrate the struggles amongst advertisers, intermediaries, audience-sellers, and often-resistant audiences themselves. Over time, the maturing advertising industry transformed the haphazard business of getting advertisements before the eyes of the public into a market in which audience attention could be traded as a commodity.

This book applies economic theory with historical narrative to explain market participants’ ongoing quests to expand the reach of the market and to increase the efficiency of attention harvesting operations. It will be of interest to scholars of contemporary American advertising, the history of advertising more generally, and also of economic history and theory.

Recenzijas

The chapter on data mining, direct mailing, and the new role of the federal post office in the advertising during the late 19th and mostly the early 20th century is densely citational with delicious detail, all organized according to a central thesis. I believe this chapter will likely be heavily utilized and referenced by future economic historians of advertising and marketing.

- Jack Amariglio, Professor Emeritus, Merrimack College

I find Shermans work on advertising extremely clear, rigorous, and persuasive. I am not exaggerating in saying that I find her work the best I have seen as a rigorous analytical treatment of the theme of the culture industry.

- Antonio Callari, Professor, Franklin and Marshall College

Since Marx wrote of the fetishism of commodities and Polanyi explored fictitious commodities, it has been clear that a key to understanding market economies is in the social creation of the commodity. This is what Zoe Sherman is doing: working as a historian as well as a social scientist, she is reconstructing the political and social creation of consumer attention as a commodity.

- Gerald Friedman, Professor, University of Massachusetts Amherst

Preface x
Acknowledgments xii
1 Introduction: Audience attention as commodity, commodification as historical process
1(30)
Audience attention as commodity
1(5)
Commodification as historical process
2(1)
Audience attention as a fictitious commodity
3(1)
Sectors of the audience attention market
4(1)
Mass media
4(1)
Outdoor advertising
5(1)
Direct mail
5(1)
The dramatis personae
6(13)
Who were the advertisers? Why did their sales practices change?
7(5)
Who were the advertising professionals? What were their business practices?
12(1)
Space sellers
12(2)
Agents and solicitors
14(3)
Who were the consumers?
17(2)
The drama
19(5)
Conflicting and complementary interests
19(1)
Engaging the state
20(3)
Growth
23(1)
Conclusion
24(7)
2 Packaging readers: Newspaper and magazine advertising
31(47)
Introduction
31(1)
Newspaper readers as an incompletely tapped resource
31(11)
Magazines, mass culture, and the expanded production of audiences
42(6)
Pricing audiences and dividing the spoils
48(6)
Increasing efficiency and intensifying resource use
54(15)
Extensive mining of attention
56(6)
Intensive mining of attention
62(7)
Advertising professionals advocate changed business practices for advertisers and publishers
69(5)
Conclusion
74(4)
3 Pricing the eyes of passersby: Outdoor advertising
78(23)
Introduction
78(1)
The outdoor advertising supply chain
78(2)
Monopoly
80(8)
Efficiency gains: lowering the cost per gaze
88(2)
Audience compulsion
88(1)
Material inputs
89(1)
Sequential rents in outdoor advertising
90(1)
Urbanization and the governance of public space
91(5)
Conclusion
96(5)
4 Home invasion: Advertising delivered door to door
101(41)
Introduction
101(3)
Mining data to compile the mailing list
104(2)
Social barriers to data collection
106(3)
The mailing list as asset and as commodity
109(4)
Mailing list operating costs
113(8)
Creative content
114(1)
Paper
115(1)
Printing
116(2)
Addressing and mailing
118(3)
Technologies and labor processes in the information economy
121(4)
Encoding information
121(2)
Office workers
123(1)
Mechanized information processing
124(1)
Audience control
125(5)
Approaching the supply chain as supplicant or disciplinarian
130(3)
Disciplining the profession
133(2)
Conclusion
135(7)
5 Conclusion: Multimedia demands on the resource of attention
142(21)
Advertising of all sorts
142(7)
Billboards vs. newspapers
143(1)
Decade of conflict: the 1890s
143(2)
Detente: after 1900
145(2)
Direct mail enters the fray
147(1)
New media since 1920
149(5)
Contested property rights in attention
154(9)
Attention ownership claims of the interceptors
154(1)
Attention as a common resource
155(1)
Living in the attention commons
156(7)
Index 163
Zoe Sherman is Assistant Professor of Economics at Merrimack College. Her scholarly writing has appeared in Rethinking Marxism, Forum for Social Economics, and other peer reviewed publications. Her popular writing appears regularly in Dollars & Sense magazine.