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on Marketing |
| By: | Hussein, Mohamud; Fraser, Iain; Costanigro, Marco |
| Abstract: | We estimate the implicit prices consumers are willing to pay for country of origin labels, using hedonic price models and panel data on retail meat purchases in the United Kingdom (UK). We find that consumers place a significant value on the origin information, especially since the horsemeat incident in 2013. Both the horsemeat incident and resulting consumer response raise questions about the balance between mandatory and voluntary labelling. There is also the potential for unintended consequences for meat industry competitiveness and trade, which may affect consumer welfare negatively. |
| Keywords: | Consumer Preference, Hedonic Price, Meat, Origin Labelling, Agricultural and Food Policy, Consumer/Household Economics, D120 Consumer Economics, |
| Date: | 2016–04 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aesc16:236353&r=mkt |
| By: | OECD |
| Abstract: | Peer-to-peer transactions have long played a role in commerce, but today's online platforms enable them on a much greater scale. Early examples include platforms for the sale of goods (e.g. online auction sites). Newer models include the rental of short-term accommodation and transport or mobility services. Sometimes described as the "sharing" economy or "collaborative consumption," this report refers to these innovative businesses as "peer platform markets." In addition to bringing benefits, peer platform markets raise new policy challenges, including consumer protection issues. As a general principle, consumer laws should be considered to apply to the basic offer of services to peers by peer platforms. It can be difficult, however, to apply existing laws to business models that blur the boundaries between consumers and businesses. What is the best approach to provide effective consumer protection while encouraging innovation? This report provides context for considering this and related questions. |
| Date: | 2016–06–07 |
| URL: | http://d.repec.org/n?u=RePEc:oec:stiaab:253-en&r=mkt |
| By: | Lowrey , Tina M; Kronrod , Ann |
| Abstract: | When developing new brand names, marketers face the dilemma of how similar their new brand name is or should be to familiar brand names in the market. The current research tests the complete range of conditions exploring how the degree of similarity of a new brand name to an existing one may affect attitudes toward the new brand name. The authors first replicate an inverted-U pattern suggested by congruency theories. However, this result holds only in the case of positive pre-existing attitudes toward familiar brand names. Additional tests demonstrate a U-shaped pattern in the case of negative attitudes toward familiar brand names, and a linear relation between similarity and attitudes in the case of no pre-existing attitudes toward familiar brand names. A field study replicates these findings, testing actual choice of products that bear different levels of resemblance to real positive and negative brand names (Oreo and Spam). |
| Keywords: | Brand name; Branding; Brand attitudes; Similarity; Familiarity; Innovation |
| Date: | 2016–09–28 |
| URL: | http://d.repec.org/n?u=RePEc:ebg:heccah:1121&r=mkt |
| By: | Nobuhiro Abe (Bank of Japan); Yojiro Ito (Bank of Japan); Ko Munakata (Bank of Japan); Shinsuke Ohyama (Bank of Japan); Kimiaki Shinozaki (Bank of Japan) |
| Abstract: | This paper examines pricing patterns over the product life-cycle and quality growth at the time of product turnover regarding a wide range of durable consumer goods sold in Japan. Applying hedonic regressions with time dummies to large granular data sets obtained from Kakaku.com, the most popular price comparison website in Japan, we find out that sellers tend to raise product prices more than those justified by quality improvements to ensure the profitability at product turnover. A glance at the pricing patterns reveals that the prices of new products decrease gradually with the elapse of time, however, the pace of falling in prices varies considerably among commodities. The quality improvement ratio, which measures the contribution of quality growth to the price difference between matched pair of a new product and an old one by commodities, exhibits a unimodal distribution slightly fat-tailed to the right. The mode value of the distribution is about 0.5-0.6 for home electrical appliances and about 0.6-0.7 for digital consumer electronics. Those results provide an empirical support to the existing quality adjustment method in the field of the price index, so-called 50% rule, which has been implemented by some statistical agencies. Our findings bring significant implications for improving quality adjustment methods under uncertainty of quality evaluation and lead to the better understanding of the firms' price setting behavior. |
| Keywords: | price index; quality adjustment; price setting; hedonic approach |
| JEL: | C43 D22 L15 |
| Date: | 2016–06–14 |
| URL: | http://d.repec.org/n?u=RePEc:boj:bojwps:wp16e05&r=mkt |
| By: | Kevin J, Fox. (School of Economics, UNSW Business School, UNSW); Iqbal A. Syed (School of Economics, UNSW Business School, UNSW) |
| Abstract: | Consumers are very responsive to sales, yet statistical agency practice typically under-weights sale prices in the Consumer Price Index (CPI). Evidence is lacking on the impact on the representativeness of prices included in the CPI and on estimates of inflation. We use high-frequency scanner data from US supermarkets to explore if there is any systematic directional impact. The key finding is that the exclusion of sales prices introduces a systematic effect. We also find that even when sales prices are included they are systematically under-weighted, but the under-weighting remains fairly stable over time so that inflation measurement is not significantly affected. In addition, we find evidence that the typical practice of using data from an incomplete period in constructing unit values can lead to an upward bias in the resulting price index. |
| Keywords: | cost-of-living, CPI, regular prices, retail sales, RYGEKS, RYCCD, scanner data |
| JEL: | C43 E31 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:swe:wpaper:2016-05&r=mkt |
| By: | Berner, Eike; Birg, Laura; Boddin, Dominik |
| Abstract: | In this paper, we estimate pass-through rates of import price changes to retail prices across retailers and consumers for apparel purchases in Germany for the period of 2000 to 2007. We find that high-price retailers do not pass through changes in the import price. Pass-through rates for low-price retailers are 53% within 3 months. Consequently, pass-through rates for low-income households are 58%, significantly larger than those for high-income households. We then present one possible explanation for these observations in a theoretical model with endogenous vertical product differentiation due to bundling an ex-ante homogeneous import good with services. Following an import price change, retailers who sell a cheaper unbundled product change prices to a greater extent than retailers who sell a higher-priced bundle of product and service. |
| Keywords: | import prices,pass-through,retailers,households |
| JEL: | D12 D31 F10 |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:zbw:cegedp:133r&r=mkt |
| By: | Rifin, Amzul; Herawati |
| Keywords: | Agricultural and Food Policy, |
| Date: | 2016–02 |
| URL: | http://d.repec.org/n?u=RePEc:ags:aare16:235509&r=mkt |
| By: | Nick Hanley (Department of Geography and Sustainable Development, University of St. Andrews); Oleg Sheremet (Department of Geography and Sustainable Development, University of St. Andrews); Martina Bozzola (International Trade Centre, Geneva); Alexander Kasterine (International Trade Centre, Geneva); Douglas C. MacMillan (DICE, School of Anthropology and Conservation, University of Kent) |
| Abstract: | The international demand for endangered animal and plant species as traditional medicine, luxury foods and curios is strong and rising, especially in eastern Asia. The illegal poaching of wildlife to supply this market represents an immediate and growing threat to the survival of many endangered species. To counter the illegal international wildlife trade, the global community remains committed to supply-side trade restrictions and enforcement of poaching laws. However, despite these actions recovery in the populations of many species is being threatened by rising poaching rates over the last 10 years. In this paper, we use a choice experiment undertaken with over 800 residents of Vietnam, in order to investigate how the demand for rhino horn varies according to its source attributes. The survey sample includes 130 respondents who reported having either purchased or used rhino horn medicinal products in the past 5 years and a further 345 who expressed some interest in purchasing rhino horn medicinal products in the future. In particular, we estimate willingness to pay for horn that differs according to source (farmed, semi-wild, farmed) harvesting method (lethal and non-lethal), rarity of the rhino species and price. We also compare preferences elicited in the context of illegal trade in rhino horn, compared to legalised trade, and how consumer preferences vary according to socio-economic variables such as income. We find that preferences are significantly influenced by source and harvesting method and income level, with non-lethal harvesting and wild sourced horn generally preferred especially by the richest consumers, who are also the consumers most likely to have previously bought horn products. Under a legal trade demand would fall for all horn types and consumer groups. |
| Keywords: | : choice experiment, willingness to pay, demand for endangered species, international trade, rhino horn products |
| JEL: | Q27 Q51 Q57 |
| Date: | 2016–05 |
| URL: | http://d.repec.org/n?u=RePEc:sss:wpaper:2016-10&r=mkt |
| By: | Carol Newman; John Rand; Finn Tarp; Neda Trifkovic |
| Abstract: | We investigate the relationship between the corporate social responsibility practices of local domestic firms and their engagement with foreign markets using four waves of panel data on a sample of more than 4,500 manufacturing firms from Viet Nam. We develop a measure of corporate social responsibility that combines compliance with labour standards, management commitment to corporate social responsibility, and community activities. We find a strong relationship between engagement in international markets and the corporate social responsibility activities of firms, with the exception of trade with China. Results suggest that firms in exportintensive sectors engage in more corporate social responsibility activities, while those in sectors with higher levels of imports engage in less. Length: 22 pages |
| Keywords: | corporate social responsibility, trade, spillovers, Viet Nam |
| Date: | 2016 |
| URL: | http://d.repec.org/n?u=RePEc:unu:wpaper:wp2016-068&r=mkt |