Managing customer experiences in online product communities

Many companies have established online product communities or forums as a vehicle to extend product support services to their customers. Customers' interactions in such online forums with peer customers and vendor representatives resolve their product-related queries as well as inform on their product purchase decisions. Despite the significance of such interactions, there has been limited theoretical attention so far on how companies can manage customer experiences in online product communities. Drawing on theories and concepts from diverse areas including computer-mediated communication, consumer psychology, and online communities, this study proposes a four dimensional construct - Online Community Experience (OCE) - to capture customer experiences in such online product communities, and examines its impact on customer attitudes regarding the product, the company, and the quality of service. Data collected from customers in online product forums offered by four companies is used to test the study hypotheses. Implications for research on online consumer behavior and marketing are discussed.     

Feasible Changes in the UK Controls on Local Government Expenditure

Local government finance has recently been the subject of a review, three consultation papers, a White Paper and major reports from both the House of Lords and House of Commons. This article examines current and feasible changes to the system of local government finance with particular reference to the effects they have on marginal and average accountability. Council tax capping, council tax benefit subsidy limitation, business rates and capital expenditure are among the topics discussed.     

The Macroeconomic Imbalance Procedure at the Heart of EU Economic Governance Reform

While the euro officially came into being in 1999, it was the introduction of euro notes and coins 20 years ago in January 2002 that made the common currency a tangible reality for European citizens. The circle of member states has since grown from 11 to 19, and a growing section of the population no longer has any personal experience with a “national” currency, yet the debate on the legal and institutional framework underpinning the common currency has never gone away.

     

A Generalized Oligopoly Model

This paper generalizes and unifies the traditional quantity competition oligopoly models of Cournot and Stackelberg. Traditional oligopoly models predict that, under constant marginal costs, there will only be one market share (Cournot) or a single firm with a large market share and all others with the same market share (Stackelberg). Without altering the basic assumption set, in particular the assumptions of common marginal cost functions, perfect information and linear demand, the paper presents a general model that may be useful to explain many real‐life situations of oligopoly competition, where many different market shares may coexist. Finally, it is shown that certain existing social welfare results are robust to the generalization.     

Do brand names differentiate identical industrial products?

Many industrial marketing companies manufacture goods that are intrinsically identical to goods made by their competitors. When faced with this problem, an increasing number of companies attempt to use branding at the ultimate consumer level to pull their product through intermediate manufacturers and distribution channels. This paper analyses the validity of this strategy by looking at the U.K. man-made fibre market, where it has been used extensively. The conclusions are that branding alone is unlikely to be of value in the market. This hypothesis is supported by the results of a survey of industrial experts and consumers. It is suggested that the key to controlling the market in question is branding with rigid control of product end use.     

Corporate Governance in South Africa

The King Report on Corporate Governance (1994) evoked unprecedented interest in corporate governance in South Africa. This does not mean that corporate governance was not an issue of concern before the release of this historical report. To the contrary, corporate governance in its broader sense has been at stake since the inception of the first publicly owned companies in South Africa. This article intends to give an overview of corporate governance in South Africa. It starts by making a distinction between broad and narrow conceptions of corporate governance. Before applying this distinction to the practice of corporate governance in South Africa, a brief overview of the corporate landscape in South Africa is provided. Then the South African situation with regard to broad and narrow corporate governance respectively is analysed. The article ends with a discussion of the review of corporate governance that currently is in the making in South Africa. Throughout the article both the financial and ethical dimensions of corporate governance is attended to.     

The risk to the public of tree fall

This paper is concerned with the quantification of tree risk to the British public as a whole; with factors which influence actual risk, such as location and meteorology; and with perceived risk which can be a driver of control actions. The emergent risk is found to be very small and the perceptual factors examined do not support anything other than a proportionate approach to safety management. Policy implications are discussed.     

Distributional issues in the context of the economic crisis in Europe

This article takes a step back from the debate on the precise causes of the crisis and the detailed steps needed to resolve it. It focuses on distributional issues and discusses the ways in which widening income inequality in most European countries has been linked to factors that lie behind the crisis. It then considers distributional effects of current efforts to resolve the crisis and explains why crisis-resolution policies need to address distributional concerns. Finally it proposes measures, many of which require coordination at least at the European level, to address the distributional crisis that otherwise awaits us in coming years and that will ultimately help to establish a new, more economically and socially balanced growth model.     

Cost-effectiveness analysis on the use of fidaxomicin and vancomycin to treat Clostridium difficile infection in France

Background: Fidaxomicin is a macrocyclic antibiotic with proven efficacy against Clostridium difficile infection (CDI) in adults. It was licensed in France in 2012, but, due to higher acquisition costs compared with existing treatments, healthcare providers require information on its cost/benefit profile.

Objective: To compare healthcare costs and health outcomes of fidaxomicin and vancomycin, as reference treatment for CDI.

Methods: A Markov model was used to simulate the treatment pathway, over 1 year, of adult patients with CDI receiving fidaxomicin or vancomycin. Several patient sub-groups (severe CDI; recurrent CDI; concomitant antibiotics; cancer; renal failure; elderly) were evaluated. Cost-effectiveness was analyzed based on cure and recurrence rates derived from published randomized clinical trials comparing fidaxomicin and vancomycin, and costs calculated from the payer perspective using French hospitalization data and drug cost databases. Model outputs included costs in euros (reference year 2014) and health outcomes (recurrence; sustained cure rates). Alternative scenario and sensitivity analyses were performed using data from other clinical trials in CDI, including one conducted in real-life clinical practice in France.

Results: Drug acquisition costs were €1,692 higher in fidaxomicin-treated patients, but this was offset by the lower hospitalization costs with fidaxomicin, which were reduced by €1,722. The reduction in the cost of hospitalization was driven by the significantly lower number of recurrences in fidaxomicin-treated patients, offsetting the acquisition cost of fidaxomicin in all sub-groups except recurrent CDI and concomitant antibiotics.

Conclusion: This study demonstrated that, despite higher acquisition costs, the lower recurrence rate with fidaxomicin resulted in cost savings or low incremental costs compared with vancomycin.