新兴市场国家吸引跨国并购的决定因素——从市场化程度视角的解析

近年来,发展中国家外国直接投资的流入量持续增加,并且跨国并购成为越来越重要的外资主要进入模式。本文考察新兴市场发展潜力与吸引跨国并购规模的内在相关性。通过理论和实证分析证实,新兴市场的市场潜力越大,特别是其中经济自由度、市场强度、商业基础设施的发展水平越高,吸引跨国并购的能力也越强。本文的启示是新兴市场国家市场经济制度的完善及与发达国家的接轨是提高吸收外资竞争力的重要条件。     

Market Potential of a Fast-Food Outlet Against Location Based on Customer Traveling Distance Profiles

Abstract

This paper studies how best to estimate the market potential of a fast-food outlet based on customer traveling distance profiles. We selected two outlets from a fast-food chain in Hong Kong, one located in a business district, the other in an urban area, as typical demonstrations. According to the hourly sales indices of either outlet, sales can be categorized into four time segments. The potential market population of each time segment for each outlet is first determined from customer traveling distance profiles. The overall potential market population for each outlet is then determined. To determine the market potential of an outlet, we need to include two factors: the fraction of this population having fast food and the associated frequency of having fast food, in addition to the overall potential market population. Aspects determining these three factors are also examined.     

国内外市场需求、空间技术溢出与新型城市化

在系统梳理市场需求对新型城市化的作用机制基础上,本文采用面板FGLS法探讨我国地级及以上城市的国内外市场需求和空间技术溢出对新型城市化的影响。分析结果显示,国内市场显著加强了新型城市化进程中东部地区的技术溢出效应,阻碍了中西部地区的区际研发技术溢出效应的有效发挥;国外市场对东部地区的区际研发技术溢出效应和西部地区的区际沟通技术溢出效应具有明显促进作用,抑制了东部地区的区际沟通技术溢出效应;国内外市场的作用在东中部地区表现为互补关系,而在西部地区则为替代关系。     

Do Promotions Increase Store Expenditures? A Descriptive Study of Household Shopping Behavior

An important question for retailers is whether promotions induce households to increase their in-store expenditures or merely reallocate a predetermined shopping budget. Should expenditures be fixed, retailers might decrease their profitability when running promotions by displacing expenditures from high margin to lower margin products. Using household level store receipts and an extended AIDS model, we provide evidence that while household expenditures do increase with promotions, there is also a significant reallocation of expenditures among the different categories. This implies that retailers have to choose carefully which products are promoted, if promotions are to increase profits.     

国内外市场潜力对FDI区位选择的影响研究

本文运用1996-2008年全国276个地级及以上城市和39个我国主要贸易伙伴的面板数据,通过估计固定效应模型,研究了我国城市面对的市场潜力对在华FDI区位选择的影响。为了估计各种市场潜力对FDI流量的不同影响,将市场潜力分为国内和国外市场潜力,并且将国内市场潜力分为省内和省外市场潜力。本文发现一个城市面对的国内市场潜力和国外市场潜力都对该城市吸收FDI具有显著的促进作用,而前者对FDI流量的影响更大。另外,一个城市面对的来自本省的市场潜力将正向影响该城市吸收外资,但来自外省的市场潜力却对该城市的FDI流入无显著影响,这反映了我国国内市场存在分割。     

Delineating Foreign Market Potential: A Tool for International Market Selection

International expansion is becoming more imperative in today's marketplace. However, determining which markets best suit a specific company is not a straightforward task. This study tackles the question of how managers should go about identifying, evaluating, and selecting foreign markets. For this purpose, we propose a practical, flexible, and forward‐looking three‐stage template for assessing foreign market opportunities and identifying the most promising international markets. The three stages include determining country responsiveness for a specific industry, estimating future industry growth, and incorporating an industry‐relevant aggregate measure. The study illustrates the tool for three companies from various industries and discusses the implications. The proposed tool offers insights on crucial dimensions for the industry‐specific market potential, and assists managers in identifying favorable foreign markets. This study also addresses the gap in the international market selection literature by developing a new empirical tool for foreign market analysis and selection using longitudinal secondary data. © 2015 Wiley Periodicals, Inc.     

A Multi-Attribute Negotiation Support System with Market Signaling for Electronic Markets

Despite the rapid growth of technology and Internet-based markets, many of the current systems limit themselves to price as the single dimension variable and offer, if at all, only minimal negotiation support to the consumer. In the real world, commercial transactions take into account many other parameters both quantitative and qualitative such as product quality, speed, reputation, after sales service, etc. This paper discusses how these multiple attributes can be captured to augment standard negotiation processes in order to support electronic market transactions. Using a combination of utility theory and multicriteria decision-making, we propose heuristic algorithms to discover potential trades. In addition, the approach is included within a larger framework that incorporates market-signaling mechanisms. This not only allows for the systematic evolution of negotiation positions among buyers and sellers but can ultimately lead towards improving both market transparency and efficiency. To illustrate the multiple criteria model coupled with the dynamic market signaling framework, we report in this paper the implementation of a Web-based clearinghouse that serves the real estate market.     

国际市场对我国大宗农产品价格的影响分析

2011年国际大宗农产品价格飙升,至今仍有可能再创新高。通过对其上涨的原因和影响我国大宗农产品价格水平的分析,提出了相应的解决对策及建议。     

Changing Consumer Preferences in Emerging Markets: Food Market Challenges in Central Mexico

As incomes in emerging markets grow, consumers’ ability to break from former food consumption patterns and introduce new foods or conveniences grows as well. While this general principle is widely accepted, the path of such introductions is not identical worldwide. In this study, we explore how consumers in an advanced emerging market have identified with their current food options, including open-air markets v. supermarkets, and simple v. processed alternatives. Using focus groups, we find that Mexican consumers have strong ties to traditions in food preparation while also showing interest in modern food conveniences. Using product adoption theory, we show that consumers exhibit expected traits of innovation resistance, social contagion influence, and consumption innovativeness, but with specific local variation, including problems with trust, expectations of government action (paternalismo), and considerable definitional confusion. Foreign marketers wishing to access the growing Mexican market should account for these differences from broader product adoption theory.     

市场潜力、贸易自由化与地区工资差距

在新经济地理学的框架下,本文构建理论模型研究市场潜力和贸易自由化与地区工资差距的关系,根据中国1993－2012年的省际面板数据,采用工具变量二阶段最小二乘法实证检验市场潜力和贸易自由化对地区工资水平的影响效应。研究结果表明,市场潜力和贸易自由化对地区工资水平均有显著为正的影响作用,且二者还存在替代关系。进一步的分析发现,贸易自由化程度较高的沿海地区,其市场潜力对地区工资水平的影响较小,而在内陆地区则恰好相反。     

Segmenting Markets Along Multiple Dimensions of Luxury Value: The Case of India

abstract

This is one of the first investigations of consumer motivations for purchasing luxury brands in India, a country with an emerging middle class. It identifies four dimensions of luxury benefits for segmenting markets. These include the financial, functional, personal, and social benefits of luxury value. Using data collected from 329 respondents in Mumbai the study identifies nine luxury factors for purchase behavior. These are used for classifying respondents into three behavioral segments using cluster analysis. The first segment appears to buy luxury goods primarily for their snob appeal, the second segment for their prestige appeal, and the third for their value appeal. The results show that while many consumers may buy the same luxury goods, their motivations for doing so differ. The findings should help marketers tailor their messages to specific luxury-seeking segments. There are many papers on luxury brands but very few are from emerging markets. The results may be of great use to global brands that are looking for expansion due to slowdown condition across globe.     

中国消费品市场中“漂绿”的治理分析:基于信任的视角

基于中国经济社会处于转型期的背景,运用不完全信息漂绿博弈模型,讨论绿色消费品市场中信任对交易和规制政策效果的影响,发现信任的高低对漂绿现象出现的概率大小和漂绿治理政策的效果起到了关键作用。应通过参与和透明的方式,提高消费者对绿色产品的信任度、消费者和生产者对绿色产品相关规制政策的信任度,最终达到增强漂绿治理政策效果。     

Street Markets Influencing Urban Consumer Behavior in Mexico

Street markets in the urban setting form the bottom of the pyramid market structure, which caters to consumers of semi-urban settlements. Consumers favor these markets for farm-fresh agricultural products and low-priced consumer goods. This study empirically investigates the role of street markets in urban sociodemographic clusters in the shift of consumer behavior against large shopping malls and supermarkets. Data were gathered from 490 respondents engaged in buying products at 373 vending stalls across 14 street market locations in Mexico City. Data were collected on 31 variables and analyzed using structural equation model. The study also addresses street markets as change agents of consumer behavior in the context of marketplace ambience, vending patterns, ethnic values, and interactive customer relations. The conventional shopping wisdom of customers, competitive gains, and socio-cultural advantages are also addressed based on an empirical survey. The study revealed that shopping behavior is largely motivated by the physical factors such as location of marketplace, distance, and vending stall type within the street market. Findings also indicate that consumers possess a strong conviction that street markets offer fresh products of farm and animal origin as well as ethnic food irrespective of hygiene standard.     

论垄断性市场中厂商产品供给曲线的存在性

西方微观经济学一直认为,只有完全竞争市场上的厂商才有产品的供给曲线,而在其它任何具有垄断性的产品市场上的厂商则没有此曲线的存在。然而,这一结论是错误的。原因在于西方微观经济学对需求变化的错误理解,并由此进一步导致了西方经济学需求理论前后逻辑上的自相矛盾。按西方微观经济学需求理论的逻辑推导,垄断性的产品市场上的厂商也同样存在可以描述和定义的产品供给曲线。这一结论的存在为宏观总产品供给曲线的推导提供了微观基础。     

市场集中度的国际比较--以报业市场为例

20世纪90年代以来,中国、美国以及欧美的报业市场几乎同时出现集中趋势,但形成原因及形成机制却有很大不同.为了迎接全球化所带来的传媒业的国际竞争,中国报业有必要通过市场化的经济运行机制,在充分竞争的基础上实现规模经济,以增强国际竞争力.     

国内需求与国际贸易:一个综述

现如今,各国厂商纷纷瞄准消费大国,通过价格、技术及品牌等手段相互竞争来占领目标市场,获取贸易利益,已成为当前国际贸易格局的基本态势。对一国而言,拥有较大的国内需求市场,能否为其国际贸易创造优势呢?本文在对从传统的比较优势理论到规模报酬递增理论文献梳理的基础上,阐述了国内需求与国际贸易的动因、格局、利益之间的关系,探讨了国内需求对国际贸易的作用机制,并进行了简要的评论。     

我国主要石化产品需求预测

本文描述了我国石化产品的市场现状及相关行业对石化行业的需求。同时预测了我国石化产品２００５和２０１０年的供需情况及相关行业的发展趋势。     

Weathering Tight Economic Times: The Sales Evolution of Consumer Durables Over the Business Cycle

Despite their obvious importance, not much marketing research focuses on how business-cycle fluctuations affect individual companies and/or industries. Often, one only has aggregate information on the state of the national economy, even though cyclical contractions and expansions need not have an equal impact on every industry, nor on all firms in that industry. Using recent time-series developments, we introduce various measures to quantify the extent and nature of business-cycle fluctuations in sales. Specifically, we discuss the concept of cyclical volatility, and derive a dynamic comovement elasticity between the economy as a whole and the cyclical fluctuations in various performance series. To further enhance our understanding of how consumers adjust their purchasing behavior across different phases of the business cycle, two other notable features related, respectively, to the relative size of the peaks and troughs and the rate of change in upward and downward parts of the cycle, are explicitly considered. Of specific interest in this respect are the notion of deepness and steepness asymmetry. We apply these concepts to a broad set (24) of consumer durables, for which we analyze the cyclical sensitivity in their sales evolution. In that way, we (i) derive a novel set of empirical generalizations, and (ii) test different marketing theory-based hypotheses on the underlying drivers of cyclical sensitivity.Consumer durables are found to be more sensitive to business-cycle fluctuations than the general economic activity, as expressed in an average cyclical volatility of more than four times the one in GNP, and an average dynamic comovement elasticity in excess of 2. This observation calls for an explicit consideration of cyclical variation in durable sales. Interestingly, the combined evidence across all durables suggests that asymmetry is present in the speed of up- and downward movements, as durable sales fall much quicker during contractions than they recover during economic expansions. Finally, key variables related to the industrys pricing activities, the nature of the durable (convenience vs. leisure), and the stage in a products life cycle tend to moderate the extent of cyclical sensitivity in durable sales patterns.     

Competitive Arena Mapping: Market Innovation Using Morphological Analysis in Business Markets

Purpose: The authors argue that (1) marketing strategy should focus more on where to compete (rather than on how to compete); (2) making subjective market definitions or market innovations may be the key to growth; and (3) a starting point for business marketers wishing to outgrow their competitors is to increase the granularity of market definition to identify competitive arenas that are growing. The authors illustrate the use of morphological analysis for competitive arena mapping in a market definition and innovation context.

Methodology: Using action research, involving a group of twleve firms of various sizes from different industries over a period of three-and-a-half years, we applied morphological analysis in a competitive arena mapping procedure, which enables firms to systematically plot possible competitive arenas and use managerial judgment to select those which are growing and for which the firm has exploitation capabilities.

Findings: Competitive arena mapping allows firms to identify and investigate a large set of possible competitive arena configurations. The developed mapping method has certain characteristics: (1) it specifically focuses on the market boundaries and adjacencies, (2) it incorporates both exchange value and use value, and (3) it acts as a learning process that accelerates the practical application of the arenas in business strategy and practice.

Contribution: The article builds a bridge between the market definition literature in strategic management and the industrial market segmentation literature, by introducing a novel method for increasing the granularity of market definition, using morphological analysis. Furthermore, the paper responds to the lack of research addressing strategic segmentation processes by developing a six-step market definition process.