Hierarchy-of-Effects Theory Definition & Meaning in Stock Market | Dofollow Social Bookmarking Sites 2016
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The hierarchy of effect theory was introduced by Gary A. Steiner and Robert J. Lavidge in 1961 through their article “A Model for Predictive Measurements of Advertising Effectiveness.” The hierarchy of effect theory shows the effect of advertising on the purchase decision of a consumer. The hierarchy indicates the experience a customer goes through while making a purchase decision because of the advertisement.

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