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1.
The art of producing one execution, having clients buy into it, and see it to completion.
An example would include the legacy tagline, "Coke is it" as an example of schmadvertising.

Coke is what?
It.
Coke is It?
What happened to Pennywise?
by willi shrinx May 13, 2011
 
2.
Schmadvertising is what you call really shit advertising.

It's also a term used to best describe the feeling when the ad industry fucks you over - Advertising, Schmadvertising.
Sorry, I can't meet you tonight. Just been put on a brief, deadline tomorrow. That's just Schmadvertising for you.
by delaforbes May 13, 2011