Modelling Perceived Quality in Fruit Products

Abstract

Quality is in the eye of the beholder. Therefore, the firm's marketing strategy must be carried out by taking into consideration not only the consumers' objectively measurable needs and expectations but also their subjective perceptions as to what actually constitutes a quality product. Turning to Olson and Jacoby's distinction regarding the difference between a product's intrinsic and extrinsic attributes, the authors performed the estimation of structural equation models in order to assess the contribution of fruit product attributes to the Spanish consumers' perception of quality. In this article, the authors demonstrate that: (a) perceived quality in fruit products is a multidimensional concept depending on both intrinsic and extrinsic attributes; (b) intrinsic attributes exert a greater influence on perceived quality in fruit products than do extrinsic attributes; and (c) a very limited number of attributes (only seven out of twenty) stand out as being statistically significant to the consumers' perception of quality in fruit products. Finally, they provide statistical estimates pertaining to the relative contribution of the most significant intrinsic and extrinsic attributes to perceived quality in fruit products.     

Transforming an Online Portal Site into a Playground for Netizen

ABSTRACT

NHN was a laggard in the Internet portal business in Korea. When it entered the market, global giants such as Yahoo already had built a formidable presence in the Korean market, where leadership advantage was cited as a defining success factor. NHN was far behind not only because of timing but also because of information sources–which are the real root of their business–due to a lack of open web sites in Korea. They also discovered that an information portal has an inherent limitation in creating stickiness in its site. People click and leave the typical information portal upon finding their query results. However, the portal site business model is based on web advertisement, and performance depends on stickiness. This case explains how NHN beat the odds and became the leading portal in Korea. This company's innovative technology and customer-oriented strategy not only allowed it to surpass all of its competitors, but it also is revolutionizing the portal business both in Korea and globally.     

EXAMINATION OF A PATH MODEL RELATING INFORMATION TECHNOLOGY INFRASTRUCTURE WITH FIRM PERFORMANCE

This article draws on the resource‐based view of the firm to investigate the mechanisms through which information technology (IT) impacts firm performance. Research suggests that the relationship between IT and firm performance may be both direct and indirect. In this study, a path model is tested that proposes a firm's IT infrastructure resources as having both a direct impact on organizational performance, as well as an indirect effect that is propagated through its impact on an intermediate organizational resource, a firm's logistics information system (LIS). The results suggest that positive firm performance may be derived directly from an organization's superior IT infrastructure, as well as indirectly, through its enabling impact on LIS's. These findings contribute to our understanding of the nature of the relationship between IT and firm performance by exploring the value of IT at both the process and organizational levels.     

Entrepreneurs’ Resources,Technology Strategy,and New Technology‐Based Firms’ Performance

This study is based on the configuration approach and argues that the new technology‐based venture's performance depends on how well the entrepreneur's resources allow the chosen technology strategy to be executed, in other words, the fit between the resources and the strategy. The authors study this idea by using a sample of 175 Spanish new technology‐based ventures. The results indicate that the fit between the chosen technology strategy and the entrepreneur's resources explain the firm's performance, when this is measured through foreign market performance. That fit is also related to the technology‐based firm's financial results and generic and domestic performance.     

Anticipated identification costs: Improving assortment evaluation by diagnostic attributes

Consumers often make quick assessments of product assortments, to determine if these are worthwhile for further investigation. They anticipate how difficult it will be to distinguish the various options in the assortment, which will influence their assortment evaluations. We reason that these anticipated identification costs are conceptually and empirically distinct from anticipated decision-making costs, and that extrinsic product attributes, which are not consumable themselves, can reduce anticipated identification costs and improve assortment evaluation, by highlighting intrinsic product differences. In addition, we posit that the impact of such diagnostic extrinsic attributes depends on the assortment's complexity. Results of two experiments support these predictions.     

考虑空域分布多尺度信息熵的SAR图像模板匹配

图像的熵和多尺度熵仅考虑像素灰度分布而无视像素在空域分布的情况,基于此的图像匹配容易受噪声的影响而导致误配。为解决此问题,给出了一种空域分布多尺度信息熵（SDMSE）,将图像像素在空域的分布与灰度空间分布结合起来,对不同的行或列求多尺度信息熵。在合成孔径雷达（SAR）图像匹配时,对输入图像和基准子图（基准图中和输入图尺寸一样的子图）求SDMSE矩阵,并通过求两矩阵的相似性来度量匹配程度,相似性最大的位置对应匹配点。仿真结果表明,所提匹配算法相比基于熵和多尺度熵的SAR匹配算法有更优异的噪声适应性,匹配误差更小,但计算耗时较多。在如何减少计算时间方面也做了尝试,实验表明尺度个数减少可以大幅减少计算时间而抗噪声性能并没有明显降低。     

Price matching and product differentiation strategies considering showrooming

Showrooming, a phenomenon in which customers use brick-and-mortar stores to assess products and then purchase them from online retailers (o-retailers) for lower prices, is considered a great threat to traditional retailers (t-retailers). To combat showrooming, many t-retailers have executed price matching which enables customers to pay o-retailers' lower prices for the identical product. To avoid direct competition with t-retailers who execute price matching, many o-retailers have begun to sell differentiated products from t-retailers, which weakens the information advantage to customers from practicing showrooming. Motivated by these observations, we construct a duopoly game, where a t-retailer and an o-retailer sell products in a same category, to study the profitabilities of product differentiation and price matching in the context of showrooming. The results show that in the scenario without price matching, the o-retailer is likely to benefit from product differentiation only when the o-retailer's differentiated product is more popular with customers than the t-retailer's product. However, in the price matching scenario, the o-retailer also has the opportunity to benefit from product differentiation when the o-retailer's differentiated product is less popular with customers than the t-retailer's product, and product differentiation can be a win-win strategy for the two retailers under certain conditions. Considering the o-retailer's product differentiation decision, the t-retailer is only likely to execute price matching if the non-digital attributes of the product category sold by two retailers are not very obvious.     

How does a Brand Ally Affect Consumer Evaluations of a Focal Brand?

Published research has shown that an alliance with a well‐known, reputable brand can improve quality perceptions of a previously unknown focal brand. Much of this research is based on signaling theory's bonding hypothesis. However, customers face information search costs when evaluating brands with which they may be unfamiliar. The authors contend that, since consumers are self‐interested, they will prefer to realize cost savings for themselves relative to a future conditional opportunity to punish a false signal sender. Three studies show that the effect of brand ally information on quality perceptions of an unfamiliar brand is mediated by perceived risk reduction due to lower information search costs.     

An efficient approximation method for American exotic options

The authors suggest a modified quadratic approximation scheme, and apply this scheme to American barrier (knock‐out) and floating‐strike lookback options. This modified scheme introduces an additional parameter into the quadratic approximation method, originally suggested by G. Barone‐Adesi and R. Whaley (1987), to reduce pricing errors. When the barrier is close to the underlying asset's current price, the approximation formula is more accurate than lattice methods because the optimal exercise boundary is independent of the underlying asset's current price. That is, the proposed method overcomes the “near‐barrier” problem that occurs in lattice methods. In addition, the pricing error decreases when the underlying asset's volatility is high. This approximation scheme is more efficient than B. Gao, J. Huang, and M. Subrahmanyam's (2000) method. As a second application of the modified approximation scheme, the authors provide an approximation formula for American floating‐strike lookback options which is the first approximation formula ever suggested in the literature. Compared to S. Babbs' (2000) binomial approach, our approximation method is more efficient after controlling for pricing errors, and is more accurate after controlling for computing time. © 2007 Wiley Periodicals, Inc. Jrl Fut Mark 27:29–59, 2007     

Keyword Selection Strategies in Search Engine Optimization: How Relevant is Relevance?

We build an empirical framework using search queries and organic click data which provides model-based guidance to SEO practitioners for keyword selection and web content creation. Specifically, we study how search characteristics (search query popularity, search query competition, search query specificity, and search intent) and website characteristics (content relevance and online authority) interact to affect the expected organic clicks as well as the organic rank a website receives from the search engine result page (SERP). It is often thought that content relevance is a key factor to improve the effectiveness of SEO. We find, however, that content relevance is an important factor in driving organic clicks only when the consumer is farther along in the customer journey and searching for ways to purchase a product. Whereas, when the customer is at the awareness stage and looking for product information, online authority is the key driver of organic clicks.     

The leverage of foreigners: Multinationals in South Africa

This article argues that foreign multinational corporations (MNCs) in South Africa cannot evade an ethical choice, how best to exercise their leverage against apartheid? Disinvestment is only one, ambiguous option. MNCs need clear ethical goals and an effective strategy. Both arise from the political economy of the MNC (1). It involves 3 relationships, between the MNC parent and its subsidiary; the MNC home society and host society; and the MNC home state and host state. That political economy explains the MNC's dependency (1a) and modernization effects (1b). Those effects give foreigners some leverage against apartheid; but an effective and ethical MNC strategy is needed (2). It involves four goals: dismantling apartheid, a mixed economy, full democracy, and a negotiated peace (2a). It suggests a sequence of MNC/home state options from Do Nothing or Divest to More Corporate Activism, Home State Support, and International Sanctions (2b). But victory is not around the corner; rather, we are all condemned to freedom.     

Valuation of futures and commodity options with information costs

In this article, futures and commodity options are analyzed in the context of Merton's (1987) model of capital market equilibrium with incomplete information. First, following Dusak (1973) and Black (1976), the conditions under which Merton's model can be applied to the valuation of forward and futures contracts are proposed. Then an application to futures markets is given. We provide a partial differential equation and the formulas for European commodity options, futures contracts, and American options in the same context. The models are simulated and compared to standard models with no information costs. We find that model prices are not significantly different from standard model prices. However, our models correct for some pricing biases in standard models. In particular, they reduce the overvaluation bias for European and American commodity options. It seems that the costs of gathering and processing information regarding the option and its underlying asset play a role in explaining the biases observed in standard models. This work can be applied to other futures markets. © 1999 John Wiley & Sons, Inc. Jrl Fut Mark 19: 645–664, 1999     

The Information Content of Model‐Free Implied Volatility

This study examines the information content of model‐free implied volatility (MFIV) estimates with respect to the options and futures markets in Hong Kong. In this study, the volatility forecasting performance of MFIV is compared, using different prediction horizons, to IV estimates based on Black's futures option pricing model (BIV) and time‐series forecasts based on historical volatility (TS‐HV). The results show that the BIV prediction is unbiased for different horizon forecasts. MFIV outperforms TS‐HV forecasts and, most importantly, BIV subsumes the information content of both MFIV and TS‐HV forecasts. The results are largely maintained for next‐day forecasts but the forecasting quality of the two IV measures declines as expiration day approaches. The information contents of MFIV and TS‐HV forecasts are complementary. © 2012 Wiley Periodicals, Inc. Jrl Fut Mark 32:792‐806, 2012     

Competitive edge: A strategic management model

To assess a firm's strategic position, its managers must collect and interpret data regarding the firm itself, its competitors, its stakeholders, and the industry. Having implement a strategy based on that information, the managers further must measure that strategy's effect. The “competitive-edge model” presented in this article provides a series of questions to guide the strategic decision-making and data-collection process so that managers gain an explicit picture of what is happening with their firm, their competitors, and the industry. Equipped with the requisite information, managers can develop marker and non-marker strategies by matching internal resources with external opportunities. Market-based strategies seek to provide an advantage for the firm over its competitors by appealing to specific customer attributes. Non-market strategies take into account aspects of the environment not directly related to customers, including the actions of government, shareholders, and special interest groups.     

Experimental analysis of consumer channel-mix use

Today's consumers have access to multiple consumer distribution channels. To remain competitive, retailers must offer different contact points to consumers. This empirical study examines channel-mix use decisions for 352 online customers' holiday booking preparations. A scenario based experimental approach studies consumer channel-mix use by channel and decision context attributes. The study models effects of time pressure, expected expenditure, channel quality, and access costs on the use of eight channel options, including traditional and online options. Over one-half of respondents use multiple channels to decide trip booking; however, most travelers book trips using the channel they initially investigated for information. Results show expected expenditure does not influence channel use; however, overall cost affects the booking's timing. Time pressures force respondents to visit a travel agent or collect additional brochures to quickly complete the purchase. Results suggest brochures fulfill an important support role.     

When corporate social responsibility (CSR) increases performance: exploring the role of intrinsic and extrinsic CSR attribution

This study investigates whether employees attribute different motives to their organization's corporate social responsibility (CSR) efforts and if these motives influence employee performance. Specifically, we investigate whether employees could distinguish between intrinsic and extrinsic CSR motives by surveying 229 employee–supervisor dyads from various industries (companies that have reputable CSR programs in Portugal), and the impact of these perceptions on in‐role and extra‐role performance of subordinates. We found that employee task performance increases when employees attribute both intrinsic and extrinsic motives for CSR. Moreover, when employees perceive that their organization invests in a CSR practice that is both intrinsic and extrinsic, they also tend to exert extra effort in their work. Theoretical and practical implications are also discussed alongside future research directions.     

When self‐customization backfires: The role of a maximizing mindset

Self‐customization in online shopping contexts readily offers an abundance of options for consumers. However, the sheer amount of information can quickly become overwhelming. One way to give people the freedom to choose without overwhelming them with information is to simplify the decision process by breaking it down into a series of smaller steps. Contrary to a common assumption that simpler decisions increase choice likelihood, however, this study demonstrates that a simple by‐attribute self‐customization process may activate a maximizing mindset, which increases people's desire to find better options and decreases their satisfaction with the ones available. Consequently, simplifying the self‐customization process can sometimes backfire by decreasing choice likelihood. Three studies suggest that although by‐attribute self‐customization formats are easier to choose from, compared with more complex matrix formats, they may sometimes—paradoxically—increase choice deferral. The findings suggest that a maximizing mindset mediates this effect, casting doubt on information‐based alternative explanations. The findings also suggest that whether by‐attribute self‐customization increases or decreases choice likelihood may depend on the presence of objective quality cues, which indicate that an objectively‐best option can be found. This study furthers the understanding of how decision difficulty and maximizing influence self‐customization decisions.     

Japanese consumers' use of extrinsic and intrinsic cues to mitigate risky food choices

The stated preference data were used to simulate and examine consumers' valuation of important extrinsic and intrinsic cues that are associated with risky foods. This analysis generates information on how consumers assess trade‐offs between price and selected intrinsic and extrinsic cues to determine their choice among alternative products. From this, optimum level of product quality attributes (i.e. intrinsic cues) and optimum price level for import products can be derived. Also, most effective sources of communicating food safety and risk management can be identified. The results show that the country origin cue is a key factor in understanding consumers' choice behaviour for food product that entails potential risk, which may suggest that consumers are using this information as a risk‐reduction strategy.     

中间件在信息查询优化系统中的应用

提出了基于中间件的数据查询优化模型系统,以中间件和分布式系统为理论基础,以曾经开发过的MIS系统为例介绍这种数据查询的结构模型和实现方法,该系统满足了用户的分布式系统的要求,查询条件能够自动灵活地生成,增加了实用性,提高了数据库的执行效率。     

Exchange volatility and export performance in Egypt: New insights from wavelet decomposition and optimal GARCH model

To assess the link between exchange rate uncertainty and exports performance in Egypt, this article relies on an optimal GARCH model chosen by information criteria among decomposed series on a scale-by-scale basis (wavelet decomposition). The observed outcomes reveal that this relationship depends intensely on the frequency-to-frequency variation and slightly on the leverage effect and switching regime. Indeed, it is well shown that at the low frequency, the coefficient associated to exchange rate volatility's effect on exports is greater than that at the high frequency and conversely when subtracting energy's share. We attribute the apparently conflicting results to the co-movement between energy prices and those of other commodities, the excessive speculation and the composition of trade partners.