Principles involving marketing policies: An empirical assessment

We examined nine marketing textbooks, published since 1927, to see if they contained useful marketing principles. Four doctoral students found 566 normative statements about pricing, product, place, or promotion in these texts. None of these statements were supported by empirical evidence. Four raters agreed on only twenty of these 566 statements as providing meaningful principles. Twenty marketing professors rated whether the twenty meaningful principles were correct, supported by empirical evidence, useful, or surprising. None met all the criteria. Nine were judged to be nearly as correct when their wording was reversed.The authors thank the many people who commented on early drafts, including Eileen Bridges, Fred Collopy, Douglas Dalrymple, Alan Dubinsky, Andrew Ehrenberg, Jonathan Freeman, Raymond Hubbard, William Perreault, William Ross, Steven Schnaars, and Gerald Zaltman. Jennifer L. Armstrong, Gina Bloom, and Phan Lam provided editorial assistance.     

Probabilistic selling vs. markdown selling: Price discrimination and management of demand uncertainty in retailing

Markdown selling (i.e., price reductions over the course of the selling season) is a strategy to implement price discrimination and to manage market uncertainty that has been widely adopted by retailers. This paper explores the potential advantage of introducing an additional tool to the arsenal of retailers, probabilistic selling (i.e., offering consumers a choice to buy a product that can turn out to be any item from a predetermined set of distinct items). We show that both probabilistic and markdown selling strategies serve as price discrimination tools by offering buyers an option to purchase a “damaged” good (an uncertain product under the former and delayed consumption of a product under the latter). However, the two strategies segment markets based on different types of buyer heterogeneity: buyer preference strength under probabilistic selling and buyer patience under markdown selling. Our analytical model reveals that, compared with markdown selling, probabilistic selling can (1) improve margin management by increasing revenue from full-price sales and reducing the magnitude of discounts; and (2) improve inventory utilization by reducing stockouts and the amount of excess inventory. We identify the conditions required for probabilistic selling to be more profitable than markdown selling.     

The impact of reverse logistics process coordination on third party relationship quality: A moderated mediation model for multichannel retailers in the fashion industry

Multichannel retailing is a widely adopted strategy in the fashion industry. Companies in this industry find it a source of competitive advantage to invest in reverse logistics infrastructure. However, limited empirical studies investigate the enablers of the relationship quality between the retailers and their reverse logistics service providers. This study quantifies the impact of reverse logistics process coordination between retailers and logistics service providers on relationship quality. Moreover, it tests the mediating role of reverse logistics service quality and the moderating role of conflict frequency in this relationship. Data were collected through a survey using a purposive sample of 241 retail store managers from the fashion retail industry of Pakistan. For this purpose, a self-administered questionnaire was developed using a five-point Likert Scale to gauge the responses. Conditional process analysis was used to evaluate the moderated mediation model. The findings showed a significant positive impact of reverse logistics process coordination on the relationship quality with a logistics service provider, a significant positive mediation effect of reverse logistics service quality, and a significant moderation effect of conflict frequency on the indirect relationship. However, conflict frequency, contrary to the hypothesis in the study, strengthened the indirect relationship. Furthermore, the moderation effect of conflict frequency on the direct relationship was insignificant. This study will help managers better understand the best practices leading to effective management of reverse logistics processes, particularly product returns.     

Cannibalization vs. competition: An empirical study of the impact of product durability on automobile demand

Many durable product categories have well developed and organized secondary markets that make it easy for consumers to purchase used versions in lieu of new ones. Manufacturers in these categories therefore face a dilemma in deciding on how much durability to build into their new products. High durability levels increase the risk that future new product sales are lost to used versions (the cannibalization effect), but can also help the firm take sales from new and used versions produced by its rivals (the competition effect). However, there has been no empirical research to determine the relative sizes of these two effects.Our research seeks to fill this gap in the literature via an empirical study of the demand for new and used vehicles in the US automobile market. We analyze two datasets; the first from the mid-sized sedan segment in the Indianapolis DMA during 2004–2006 and the second from the Entry Sports Utility segment in the Los Angeles DMA during the period 2003–2005. We propose and implement a durability metric that is based on the over-time trajectory of used car prices and estimate a structural model of differentiated product demand with heterogeneous consumers who choose among new and used vehicles and consider durability in their choice decisions. Both datasets reveal that durability significantly impacts the demand for new and used vehicles with mean durability elasticities estimated to be about 1.7. Both datasets also show that the competition effect (85%) is significantly greater the cannibalization effect (15%). While the prior theoretical literature generally recommends that firms avoid cannibalization by reducing product durability, our findings imply that manufacturers who increase the durability of their products may see net sales gains as a result.     

An assessment of organic apparel,environmental beliefs and consumer preferences via fashion innovativeness

The topic of organic apparel has been widely discussed among academics and practitioners in recent years. While numerous studies have been done on the topic, few studies to date have assessed the topic of fashion innovativeness and its influence on attitudes towards organic apparel. In addition, an evaluation of consumer preferences for organic apparel from a conjoint analysis perspective has not been implemented. Thus, the purpose of the present study was to identify which organic apparel attributes are most important to high fashion innovativeness and low fashion innovativeness groups. Furthermore, the variables of environmental beliefs and attitudes towards purchasing organic apparel were assessed. An online survey was developed to measure the variables, including a full profile discrete choice design used to measure attribute preferences for t‐shirts. The data were analyzed using a multinomial logit model and desirability indices. The results indicated that the low fashion innovativeness group preferred organic and eco‐friendly apparel more than the high fashion innovativeness group. In addition, when examining high fashion innovativeness and low fashion innovativeness groups overall, the preferred t‐shirt was Dri‐Fit, Cotton Jersey Knit, Made In America, Eco‐Friendly and $25.00. However, when examining high fashion innovativeness and low fashion innovativeness groups separately for the preferred t‐shirt, differences appeared in Sustainable. The results suggest that high fashion innovativeness and low fashion innovativeness groups may desire different organic apparel attributes when considering organic apparel.     

An empirical analysis of national and local advertising effect on price elasticity

This paper investigates the interaction effect of advertising and price on the market share of a consumer nondurable product. We postulate a model in which local advertising is thought to primarily affect the consumers' purchase by making the demand more price sensitive, and national advertising to affect the consumers' preference, thus making the demand less price sensitive. Moreover, we hypothesize that local advertising interaction will have more immediate effect, while national advertising interaction will have longer term interaction effects. We apply these ideas empirically, and find support for our hypotheses. Thus, the interaction effect of advertising and price can be characterized by both increased and decreased price sensitivity, depending on the type of advertising. Moreover, these effects may be present simultaneously for the same product.     

Key influencers and inhibitors on adoption of the Internet for banking

The focus on new technologies in service situations is growing and is of particular importance in financial services contexts. It is argued that there is mutuality of benefit for both bank and customer through the adoption of self-service technologies (SSTs), of which e-banking is but one example. While the economic imperative for banks’ adoption of e-banking solutions is clear, the value proposition for the customer can be less evident. It is proposed that the value proposition on offer through e-banking could be better conveyed to customers were banks to have a greater understanding of the appropriateness of the on-line medium for products as they varied according to complexity level. This paper reports on a study which examined customer-stated propensity to purchase financial products on-line at varying levels of complexity. Findings underline the importance for banks to achieve a customer-oriented balance between face-to-face relationship-managed activity and online enablement and to understand now this balance varies according to customer and complexity of product. Strategic marketing implications for the case bank are discussed.     

An empirical test of the Theory of Sales: Do household storage constraints affect consumer and store behavior?

We revisit and test Salop and Stiglitz (1982) Theory of Sales. Equilibrium comparative static predictions are that greater consumer storage constraints lead to: (1) higher average prices, (2) fewer promotions, and (3) shallower promotions. In equilibrium, price dispersion is nonlinear in storage constraints, first increasing then decreasing. Empirical estimates of storage constraints are developed for approximately 1,000 households using the American Housing Survey (1989), United States Census (1990), and Stanford Market Basket Database (1991–1993). We find consumers with greater storage constraints shop more often and purchase smaller quantities per visit; moreover, the comparative static predictions are supported and evidence consistent with the equilibrium dispersion prediction is observed. Estimated quantitative effects are economically important. JEL Classification D12 · D40 · M3     

An examination of users and non-users of self-checkout counters

The use of self-checkout counters in the retail industry allows retailers to achieve higher rates of productivity and provide better customer service. However, its use has not been widespread due to consumers’ resistance to the technology. Previous research has established that demographic and psychographic variables and consumers’ evaluation of the technology may determine consumers’ use of self-checkout counters. The aim of this study is to compare how users and non-users of self-checkout counters differ in the retail industry in Singapore. The survey instrument was adapted from earlier studies and surveyed respondents’ perceptions of self-checkout counters on their relative advantages over staffed counters and the likelihood of using self-checkout counters in different situations. The survey was administered to residents and shoppers in a western residential suburb in Singapore over a period of three weeks. The findings from 778 respondents showed no significant demographic differences between users and non-users of self-checkout counters. Users are more likely to view self-checkout counters as more advantageous, less complex, more reliable and compatible with their lifestyles than non-users. In addition, users of self-checkout counters are more likely to use self-checkout counters when they expect a shorter checkout time at self-checkout counters compared to non-users.     

An empirical investigation and comparison of neural networks and regression for scanner data analysis

The objective of this study is to examine neural networks as an alternative to traditional statistical methods for the analysis of scanner data. The results of the study showed that neural networks can be an effective alternative to regression for modeling and predicting the effects of retailer activity on brand sales. The neural network models exhibited better performance in terms of both mean squared error and R² than the regression model.     

Demand pull and technology push perspective in technology-based innovations for the points of sale: The retailers evaluation

Despite the consumers' increasing demand of technology-based innovations for making stores more appealing and the huge availability of advanced technologies, there is still a lack of research on the retailers' and employees' points of views towards the introduction of these systems. In fact, an efficient innovation should take care of both the final users/consumers' and the retailers/employees' needs and expectations. Hence, the aim of this study is to advance our knowledge on retailers' pull of new technologies for improving their job in accordance with the most recent systems, as well as on the main characteristics of these innovations for defining a new integrative framework of analysis and development.     

SKU performance and distribution: A large-scale analysis of the role of product characteristics with store scanner data

This study investigates the relationship between distribution and market share across various consumer packaged goods (CPG) categories and specific stock keeping units (SKUs). The study identifies product-related characteristics that result in substantive deviations above or below market shares predicted by the distribution – market share relationship. The association of product price, brand (private label [PL] v. national brand [NB]) and pack size with above (or below) expected market share for a given distribution level is analysed. Results indicate larger pack sizes, PL and medium price levels result in market share above what would be predicted by an SKU’s distribution. This presents a source for competitive advantage in markets driven by push–pull dynamics.     

中国与日韩文化商品贸易实证分析

国际贸易中文化产品和文化服务贸易以“指数级”增长。各国文化产品在国际贸易中的竞争地位，不仅关系到本国的经济利益，而且关系到本国文化在世界文化发展中的地位。从经济学的角度对中日韩三国的文化商品贸易进行分析，为文化产业成为中国的重要战略产业提供理论依据。     

中小企业商业信用需求与供给影响因素分析——以江苏省制造业为例

中小企业商业信用融资问题,特别是中小企业商业信用需求与供给的影响因素问题是当前理论界和实际企业管理工作者关注的一个热点问题。中小企业很难从银行中获得经营所需要的资金,商业信用便成为中小企业外源融资中另一个重要途径。中小企业在获得商业信用的同时还要对外提供商业信用。商业信用需求和供给的影响因素很多,本文利用中小板上市公司中2007-2012年江苏省制造业公司的数据信息,探寻影响商业信用需求和供给的因素。研究发现,商业信用需求和供给的影响因素不相同,影响的方向及程度都有很大差异。通过进一步分析发现商业信用需求和供给之间也存在显著的关系。     

大学生网络社交的实证分析与高校学生工作的对策建议

在新媒体时代,网络社交已经成为青年学生进行社会交际的重要组成部分。在网络社交的过程中,青年的行为方式、思考方式和社会关系正在发生着深刻的改变。社交网络的不断发展,给高校学生工作带来了新的机遇和挑战,需要深入研究并积极应对。本文首先从技术平台、个体表达和公共舆论等三个方面分析了社交网络对高校学生工作的影响,进而在社会心理学基本理论的指导下,通过问卷调研数据,采用统计学的方法对北京大学学生的网络社交行为进行了深入分析,并提出高校学生工作的对策建议。     

Ethical characteristics of human resources management in Chinese enterprises: An empirical study based on content analysis of employee manuals

This paper identifies five dimensions of human resource management ethics (HRME) from the extant literature, namely ethical values, rights, fairness and justice, openness, and ethical care. Based on employee manuals of 160 companies, this paper conducts a content analysis to identify the characteristics and differences of HRME in various types of firms and different industries. Results indicate that the status quo of HRME in Chinese firms is far from being satisfactory due to the lack of ethical care, unfair and nontransparent employee appraisal procedures and outcomes. The results also show that there are significant differences in the five dimensions of HRME among state-owned enterprises, private enterprises, joint ventures, and foreign companies. It is also found that there is no significant interaction effect between enterprise ownership type and industry on HRME.     

Gender diversity on boards for organizational impression management: An empirical study of Japanese firms

The literature on gender diversity on corporate boards is growing, yet firms' motivation for achieving such diversity remains underexplored. This study examines the potential objective behind appointing female directors that could be driven by organizational impression management based on the hypothesis that firms strategically propose to nominate female directors when they need to form a favorable impression to their stakeholders, especially in relation to executive compensation. This study analyzed annual shareholders meeting agendas for 3585 listed Japanese firms between 2011 and 2020 and found that firms placed female director appointments on the meeting agenda when they needed approval for the revision of executive compensation. This tendency was strengthened for firms with more outside directors. This study's approach and findings contribute to the literature on corporate board gender diversity by suggesting organizational impression management as a potential strategic motivation behind the appointment of female directors.     

An empirical comparison of machine learning methods for text-based sentiment analysis of online consumer reviews

The amount of digital text-based consumer review data has increased dramatically and there exist many machine learning approaches for automated text-based sentiment analysis. Marketing researchers have employed various methods for analyzing text reviews but lack a comprehensive comparison of their performance to guide method selection in future applications. We focus on the fundamental relationship between a consumer’s overall empirical evaluation, and the text-based explanation of their evaluation. We study the empirical tradeoff between predictive and diagnostic abilities, in applying various methods to estimate this fundamental relationship. We incorporate methods previously employed in the marketing literature, and methods that are so far less common in the marketing literature. For generalizability, we analyze 25,241 products in nine product categories, and 260,489 reviews across five review platforms. We find that neural network-based machine learning methods, in particular pre-trained versions, offer the most accurate predictions, while topic models such as Latent Dirichlet Allocation offer deeper diagnostics. However, neural network models are not suited for diagnostic purposes and topic models are ill equipped for making predictions. Consequently, future selection of methods to process text reviews is likely to be based on analysts’ goals of prediction versus diagnostics.     

Automation of Warehouse Management and Assortment in the Distribution of Durable Goods: An Analysis for the Ceramics and Building Supplies Industry in Spain

The introduction of information and communication technologies can be a source of competitive advantages for the retailer, even if at significant cost. In the present work we try to identify the factors that characterize companies that invest in these technologies to automate warehouse management and, in particular, the relation between the degree of automation and the retail assortment. In order to achieve this aim, we consider a sample of distributors of ceramics and building supplies in Spain. The results suggest that warehouse management automation is related to the depth and breadth of the products carried in the retail assortment.