A method for the assessment of relative brand strength: a UK tour operator example

This study provides a method of uncovering the brand strengths and weaknesses of major tour operators in the UK. It provides an approach that provides a weighted assessment of attributes which is a culmination of the weighting of all measures from a two stage research model. The study provides a method that can be applied elsewhere but specifically identified Airtours as having the lowest score for brand attributes and image, a result that may well be associated to their previous rejection of branding in favour of maintaining low prices to customers. From the core values identified, it became evident that most operators' worst score was for efficiency. Perhaps the most predictable of the findings was that the Virgin brand was most familiar to younger respondents. Age was a major variable in terms of the ranking of the attributes. Over 55s ranked accommodation, efficiency, reliability and reputation higher than any other age category. Such consistency indicates that the more senior age group has greater expectations of the services offered by the tour operators, or else require a better service in order to be satisfied. A gap in the market was identified for a brand to promote itself as part of the emotional holiday experience in addition to performing the basic operator functions. Such market positioning would also present opportunities for brand differentiation. In conclusion this study has implications for other brand assessment exercises and therefore offers a model of approach for other sectors.     

INTERFUEL SUBSTITUTION: A META‐ANALYSIS

Abstract This paper provides the first meta‐analysis of the interfuel substitutability literature. The sample includes 47 studies of interfuel substitution in the industrial sector, in manufacturing industry or manufacturing sub‐industries, or in the macro‐economy of a variety of developed and developing countries. Meta‐regressions are estimated for the six shadow elasticities of substitution between coal, oil, gas and electricity. I find that at the level of the industrial sector as a whole the oil–coal, oil–gas, oil–electricity and gas–electricity shadow elasticities of substitution are significantly greater than unity. The remaining elasticities – between coal and gas and coal and electricity – are insignificantly different from unity or zero due to their large standard errors. Substitution possibilities seem more constrained at the macro level and less constrained at lower levels of aggregation. Estimates of the elasticities of substitution from cross‐section regressions are generally largest whereas fixed effects panel estimates are intermediate in magnitude, and time‐series estimates are mostly much smaller. In order to obtain more precise and less biased estimates of long‐run elasticities of substitution, there is a need for additional primary studies using large samples and/or the between estimator which econometric research suggests is likely to provide the best estimates of long‐run elasticities.     

Corporate Strategy in the Tobacco Manufacturing Industry: The Case of Philip Morris

The purpose of this case study is to identify corporate strategy options at Philip Morris in an uncertain business and legal environment. Because it controls approximately one-half of the domestic market for tobacco products, efforts by antismoking advocates directed toward getting Philip Morris to change its corporate policies are a major step toward getting policy changes accomplished within the entire tobacco manufacturing industry. The company has been the largest player in a structurally oligopolistic industry with only a small number of important competitors. In October 1999, on a web site position paper, Philip Morris admitted that smoking is a contributing factor to the development of a variety of diseases and that cigarette smoking was addictive. The paper examines legal issues pertaining to lawsuits directed toward claims on behalf of smokers and their families. A jury verdict in the Florida class action lawsuit on behalf of smokers, now under appeal, would require payments approximately equal to the entire market capitalization of Philip Morris on the day the verdict was announced. The paper outlines three possible organizational strategies in the face of continuing legal issues which threaten the future of the company: (1) Continue as they are now operating as a single company; (2) Spin off nontobacco components to shareholders as a separate company; and (3) Discontinue domestic manufacture and sale of tobacco products while maintaining an international tobacco business.     

The Triumph of American Capitalism: An Assyrian Perspective

The collapse of communism, the success of the US economy and the rise of the internet have led many to argue that the rest of the world should adopt American capitalism. This article uses evidence from the ancient Mediterranean and Middle East to argue that the most successful form of capitalism in each area (and era) depends on the context of the time, the culture of the people and the history of the region.     

Saving neighborhoods by saving farms: Metropolitan congregations united for St. Louis challenges urban sprawl

Critics usually decry urban sprawl's impact on the natural geograph— polluted air and water, vanishing farmlands, forests and open spaces. However, urban sprawl's effect onhuman geography has been even greater, as exemplified by metro St. Louis. With the region's urbanized land growing at seven times the rate of urbanized population, sprawl accelerated the decline of the central city and older, built-out suburbs (St. Louis lost over half its population since mid-century), increased economic segregation and stagnation (10 percent in 20 years by one measure) even as racial barriers were slowly lowered, and widened fiscal disparities among local governments (St. Louis City's property evaluation shrank by over 70 percent in 35 years). Inner-city and older-suburb coalitions, like Metropolitan Congregations United for St. Louis, are now joining environmental advocates to lobby for new state growth management laws. “We cannot win the ‘inside game’ without winning the ‘outside game,’” church leader explained. David Rusk is an urban policy consultant and author of Cities without Suburbs (1993),Baltimore Unbound (1995), andInside Game/Outside Game (1999). He is a former mayor of Albuquerque and New Mexico legislator.     

POPULATION POLICY THROUGH TRADABLE PROCREATION ENTITLEMENTS*

One of the first tradable rights proposal is Boulding's (The Meaning of the Twentieth Century, London: George Allen and Unwin Ltd, 1964 ), dealing with overpopulation. We discuss both tradable procreation allowances and exemptions domestically and globally, to address underpopulation as well. We focus on three effects. Notably, the rights' tradability entails that whereas exemptions or expensive enough allowances benefit the poor, cheap allowances benefit the rich. A natalist policy also worsens the average education level of the next generation, whereas population control enhances it. Also, if procreation rights are grandfathered to countries, the scheme redistributes further. Our analysis suggests that procreation entitlements may be efficient in controlling population, without being necessarily anti‐redistributive.     

Corporate and public responsibility, stakeholder theory and the developing world

It is often argued that multinational companies and other foreign developers have a responsibility to improve the material conditions of the people in whose territories they operate. As a matter of distributive justice it is thought that these companies should be sharing the acquired wealth with these people through the creation of 'collective goods' (like schools and aid posts), infrastructure development and compensation disbursements aimed at their benefit. Recently "stakeholder theory" and even legislative changes in the first world (especially in the US) have sought to impress on the corporate world the necessity to share the profits with affected "non-shareholder" groups. Many see these developments as possible advancements for indigenous peoples, indigenous rights and the cause of distributive justice for aboriginal groups. However, it can be shown that the attribution of such 'imperfect' duties to corporations results in the generation of excessive costs and of unrealistic expectations on the part of stakeholders. Distributive justice is more efficiently achieved by public sector involvement at the level of policy and project management.