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on Marketing |
| By: | He, Chen (Tilburg University, TILEC); Klein, Tobias (Tilburg University, TILEC) |
| Abstract: | We use high frequency data on TV and radio advertising together with data on online sales for lottery tickets to measure the short run effects of advertising. We find them to be strong and to last for up to about 4 hours. They are the bigger the less time there is until the draw. We develop the argument that this finding is consistent with the idea that advertisements remind consumers to buy a ticket and that consumers value this. Then, we point out that in terms of timing the interests of the firm and the consumers are aligned: consumers wish to be reminded in a way that makes them most likely to consider buying a lottery ticket. We present direct evidence that this does not only affect the timing of purchases, but leads to market expansion. Then, we develop a tractable dynamic structural model of consumer behavior, estimate the parameters of this model and simulate the effects of a number of counterfactual dynamic advertising strategies. We find that relative to the actual schedule it would be valued by the consumers and profitable for the firm to spread advertising less over time and move it to the last days before the draw. |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:tiu:tiutil:6a9d1dc7-8fb6-48a1-b954-87e63d4bf7c7&r=mkt |
| By: | Nica, Maria |
| Abstract: | The dairy sector is indispensable for the overall development of an economy because it provides a vital link between agriculture and industry. This helps diversify and market agricultural products; increases farmer income; creates markets for food exports, and generates more employment opportunities. The purpose of this paper will be to identify consumers' preferences for these products, the reasons for non-consumers, the wishes of consumers, the economic and financial situation of the main milk and dairy producers, the competitive dairy market as well as the information revealed by the consumer profile questionnaire sources of information and brands known to consumers. The stage of the milk and dairy market in Romania will be assessed, and then the competitiveness on the milk and dairy market in Romania will be analysed. Competitiveness requires special attention, each company has to compare products, prices, promotion and have competitive advantages constantly. In order to determine competitiveness, marketing researches on consumer preferences for milk and dairy products will be used; at the same time, the economic and financial performance of the main economic agents on this market will be analysed. The end of this study will be concretized by the comparative analysis of consumer preferences and the order of companies offered by their economic performance. |
| Keywords: | competitiveness, milk market, economic performance, marketing research |
| JEL: | Q12 Q13 |
| Date: | 2017–11–16 |
| URL: | http://d.repec.org/n?u=RePEc:pra:mprapa:85204&r=mkt |
| By: | Chen, Li (Cornell University); Cui, Yao (Stanford University); Lee, Hau L. |
| Abstract: | Given the promise of 3D printing, also known as additive manufacturing, some innovative consumer goods companies have started to experiment with such a technology for on-demand production. However, the potential impact of 3D printing on retail and supply chain operations is not well understood. In this paper, we consider two adoption cases of 3D printing in a dual-channel (i.e., online and in-store) retail setting, and evaluate its impact on a firm's product offering, prices for the two channels, as well as inventory decisions. Our analysis uncovers the following effects of 3D printing. First, 3D printing at the factory has the substitution effect of technological innovation for online demands, as 3D printing replaces the traditional mode of production. Such technology substitution not only leads to increased product variety offered online, which allows the firm to charge a price premium for online customers, but also induces the firm to offer a smaller product variety and a reduced price in-store. Second, when 3D printing is used in-store as well, in additional to the substitution effect, the firm also achieves a structural effect due to the fundamental change in the supply chain structure. Since the in-store demand is served in a build to order fashion, the firm achieves postponement benefits in inventory management. Moreover, using 3D printing in-store will require a new supplier-retailer relationship. We find that cost-sharing contracts can coordinate the supply chains where 3D printing is used in-store and the supplier controls the raw material inventory. |
| Date: | 2017–09 |
| URL: | http://d.repec.org/n?u=RePEc:ecl:stabus:repec:ecl:stabus:3591&r=mkt |
| By: | Viergutz, Tim; Schulze-Ehlers, Birgit |
| Abstract: | Given a substantial increase in publications over the last decades, researchers often face an insurmountable quantity of publications potentially relevant for the own research endeavors. Quantitative approaches can be used to analyze the extant scientific literature (also known as scientometrics), which may help to overcome this information overload. This article introduces a hybrid scientometric method, which is based on semantic and bibliographic indicators, for systematic literature reviews into the business and economics literature. To this end, the article provides a step-by-step analysis of the literature referring to the term "loyalty" in the area of business and economics. The analysis reveals four research discourses associated with loyalty, which can be labeled as: 1. Brand loyalty and customer retention, 2. Economic welfare and market power through loyalty, 3. Understanding of customers and formation of loyalty in services marketing and 4. Organizational and employee loyalty. The understanding and use of loyalty is described for each research discourse. The article closes with a discussion about the overall usefulness of the quantitative approach for the review of latent constructs such as loyalty. |
| Keywords: | loyalty,bibliometric methods,LSA,latent constructs |
| Date: | 2018 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:daredp:1804&r=mkt |