The purpose of this study is to investigate the difference of the response to fashion ad and its effect between traditional ad and postmodern ad, to examine the difference of the response to fashion ad and its effects according to sensation seeking tendency, and to investigate the effect of the response to fashion ad on its effect. For the purposes of this study, two postmodern ads and one traditional ad were selected as stimuli and data were collected from 230 female college students. The results are as follows: 1) Postmodern advertisement was unique, impacting, hard-to-understand, sensory-stimulating, and fantastic, when compared to traditional advertising. 2) Consumers felt disgusted by confusion and shock coming from postmodern advertising, but at the same time, recognized its value as an advertisement and took more pleasure and fun from it. 3) Consumers with high sensation-seeking-tendency perceived postmodern ads more sensually and showed more positive response to the postmodern ads. 4) While subjective, emotional response affected the attitude toward advertisements, sensory-stimulating affected the attitude toward brand and purchase intention. Thus, cognitive response should also be considered significant to form brand equity in long term.