Perceived buyer satisfaction and selling pressure versus pricing policy: A comparative study of retailers in ten developing countries

Observation of retail practices in ten developing countries in Asia, Africa, and South America explored the relationship between perceived buyer satisfaction and selling pressure as they relate to pricing policy. The study found that price bargaining appears more prevalent in Asia than in South America, and buyer satisfaction was lower for retailers that bargain than for retailers using a fixed-price policy. Selling pressure was higher among retailers that bargain than retailers using a one-price-for-all policy. There were, however, several interesting intercountry differences.     

Mapping market mobility: Psychographic profiles and media exposure

Are there households in trading areas that have unique mobility predispositions? Can mobility types be monitored? And does mobility type relate to the life style and consumption patterns of households? This study examines the mobility and life style characteristics of suburbanites in a medium-sized city in an effort to discover the answers to these and other questions.In particular, the article suggests that mobility relates to life style and media usage, which in turn largely determines the quality of consumer demand and the most efficient media to reach such a market. If the composition of mobility types within a shopping area is changing, retailers should monitor these changes so that they can better predict retail demand—both quality and quantity.A self-administered questionnaire was designed to measure (1) the mobility characteristics of consumers—including their local moves, long-distance moves, and their predisposition to move; (2) the life styles and socioeconomic characteristics of consumers; and (3) the median exposures of households. The instrument was administered by personal interviews with 322 suburban housewives within a medium-sized trading area. The usage sample included 304 cases.The data support the hypotheses of the study; mobility types emerged from the analysis and these had distinctive life styles and media habits. Periodic sampling of households is suggested as an approach to monitoring mobility composition within the trading area.     

Issues in fitting theoretical and measurement models in marketing

This article reviews the applications of linear structural equation modeling in business. It further examines the extent to which measurement models are constructed to fit theory models. The consensus appears to be that modelers intuitively use congeneric models without considering the appropriateness of such use. The other measurement models, such as tau equivalent or parallel form models are used very little in the literature. In addition, there is no use of common factor measurement models. The article also examines the extent to which various indices of fit are used in modeling marketing phenomena. Although chi square tests of model fit are used most frequently, the study documents increasing use of yet other indices, which perhaps more accurately reflect the extent to which the model fits.     

Self-monitoring,norms, and attitudes as influences on consumer complaining

Reactions of consumers to marketplace problems vary widely despite the frequent similarity of sources of dissatisfaction. The results of two studies designed to investigate the determinants of consumer inclinations to complain are presented. Two alternative social-psychological explanations of behavior employing self-monitoring, moral and social norms,and attitudes as predictor variables are examined.     

Media allocation model using nonlinear benefit curves

An integral part of planning advertising campaigns involves the selection of those media vehicles that maximize the effectiveness of the advertising effort. This article describes a media allocation model designed to provide the media planner, responsible for a particular advertising campaign, with relevant information for use in selecting the most appropriate media vehicles and in determining the number of insertions in each vehicle. It is based on the derivation of nonlinear benefit curves for candidate media vehicles that can be derived from commercially available response data and from subjective estimates gathered from media planning experts. When tested in an actual advertising campaign, the results serve to provide relevant information that can make the media allocation decision a more objective one.     

Competitive position effects and market share: An exploratory investigation

This paper investigates the relative competitive position of a firm with a view toward determining those marketing effort dimensions that significantly influence market share. The study differs from previously published reports in that it utilizes the Profit Impact of Marketing Strategy (PIMS) data base on relative marketing effort to identify key marketing effort variables for two broad classes of goods: consumer nondurables and capital goods. The framework for a competitive positive effects model is developed in terms of nine relative marketing effort dimensions expressed along categories roughly corresponding to competitive superiority, parity, or inferiority. Hypotheses for the two classes of goods, gleaned from the available marketing literature, were empirically tested with use of linear regression models. Though the sets of coefficients relating to the nine marketing decision variables significantly differed ac across industries, similar patterns were found in both groups with respect to the relative breadth of product line and relative product quality dimensions. The results also tended to (a) support the claim of Buzzel et al. [Product Quality, Strategic Planning Institute, Cambridge, 1978] that for product quality to matter, improvements relative to competition must be substantial, and (b) show that for certain effort dimensions striving for competitive superiority may not generate sizable increases in relative market share.     

Semantics and capital market efficiency: Testing the market's reaction to the naming of stock distributions as splits or dividends

The AICPA and NYSE urge corporations to avoid the term “stock dividend” and use the term “stock split” when referring to large common stock distributions. Theoretically these large distributions do not convey any economic value to the stockholders. Therefore a rule was considered necessary so as not to mislead them as to the actual nature of the distributions. The purpose of this study is to examine security price reactions to the differential naming of these distributions. The results strongly suggest that security returns are not differentially affected by naming a large common stock distribution a stock dividend rather than a stock split. That is, the capital market appears to be semantically efficient between terminologies.     

Retailing strategy for customer growth and new customer attraction

The image that current and potential customers have of a retail store affects the magnitude of patronage at that store. In attempting to increase store patronage, management of a retail store must look to people who already are customers, as well as to people who are not current customers. The appropriate strategy depends upon the dimensions used by people in their evaluation of the store. The hypothesis is tested that the strategy used for gaining increased patronage from customers may have to differ from that used to gain patronage from noncustomers.Field survey techniques were used to collect data from 225 adult females. Respondents evaluated three large retail department stores, which were believed to have distinct images in the minds of female shoppers, on the basis of a set of 12 semantic scales that represented various store attributes. Each respondent indicated frequency of shopping at each store. The data were analyzed by two different multiple discriminant analyses. For the customer growth strategy, the semantic scale measures were used to develop a discriminant model for each store to determine which attributes would be the best predictors of shopping frequency. The analysis relevant to the strategy of new customer attraction differed. First, shoppers were classified as loyal to one store on the basis of their rates of shopping at each store. Second, the 36 attribute measurements (12 scales for 3 stores) were factor analyzed, and three factors were extracted. Those attributes which loaded highest on each of the factors for each store were used as predictor variables in the discriminant analysis.The results of this study indicate that different marketing strategies may be required for increasing sales to existing customers and attracting new customers. In addition, consumers do not necessarily differentiate similar type retail stores on the same dimension.     

Intrafamily decision making in family planning

58 expectant couples were counseled about family planning postpartum and husbands and wives were asked to rank preference of methods. Husbands preferred IUDs (12%), the pill (7.6%), or diaphragms (8.2%). Wives preferred diaphragm (10%), foam (8%), jelly (8%), and IUDs (6%). The process of discussion was then charted. It was found that wives were more influential than husbands in the joint ranking process, which put IUDs 1st, followed by diaphragms and jelly. As discussion progressed, side effects became more important and the condom was selected as a compromise more often than any other method. It is suggested that marketing attempts for condoms emphasize the lack of side effects as well as promote the advantages to men.     

Mismeasurement of market returns

Virtually all empirical tests of the Capital Asset Pricing Model have assumed (usually implicitly) that returns of some New York Stock Exchange index measure the returns of the “market factor” without error. However, recent theoretical developments suggest that this assumption may be inappropriate. In this effort, an obverse tack is adopted — the asset pricing model is assumed correct and attention is focused on the impacts of incorrect specification of market returns. A simple errors-in-variables econometric technique is used to reevaluate the oft-cited study of Black, Jensen, and Scholes. The conclusion is reached that incorrect measurement of the market is itself an onerous and unreconciled problem which adds marked bias to tests of asset pricing mechanisms.     

Measuring the performance of industrial salespersons

Sales force performance is a critical concern of most industrial firms, yet in this area of research there are difficulties in measuring salespersons performance. Issues relevant to measuring the performance of industrial salespersons are reviewed. A self-report performance scale developed and evaluated based on the responses of 200 salespersons and 42 managers from five major industrial firms is presented.     

Speeding solar energy commercialization: A Delphi research of marketplace factors

A two-stage Delphi research study was undertaken to determine and measure the attitudes of the public regarding factors that may either inhibit or stimulate solar energy commercialization today and over the next 10 years. Some factors judged important were product cost, lack of product knowledge, lack of governmental support, and public concern over the energy crisis. The factors were determined by a group of energy conscious respondents who completed the Delphi research. They also indicated the likely and desirable actions to be taken by government and business. These included more funding of research and development, tax incentives, increased public education, and reduced prices. The Delphi research proved to be an effective method for investigating solar energy commercialization, as the attitudes expressed in the second survey converged with those identified during the first stage. Furthermore, governmental and business actions suggested in the study could help to initiate greater solar energy use and developmental efforts.     

Longitudinal organizational research in field settings

Managers, theorists, and researchers are interested in studying organizational phenomena such as technological change, organizational development, and leadership effectiveness over a period of time. However, a review of the literature in the field of organizational behavior and management indicates that a limited number of empirically based studies rigorously investigate changes within organizations. This article looks at the salient characteristics and issues facing those engaged in longitudinal research. While much more theoretical and methodological work is needed to improve the rigor of this type of research, some researchers have forged ahead and have attempted to conduct longitudinal research in field settings. A select few of these studies are presented to illustrate what can be accomplished by longitudinal research and what needs to be improved in such research designs. In conclusion, the authors offer some suggestions that may serve to increase the number of longitudinal organizational research studies in the future.     

Morphology of asset asymmetry

Although many financial paradigms are predicted on the assumption that security returns are symmetrically distributed, relatively little research has been conducted into the legitimacy of the presumption. This effort is intended to present the results of a thorough investigation of the subject, where two measures of skewness have been computed and compared. Roughly, the major conclusion is that regardless of how skewness is measured, securities have displayed a persistent propensity to positive asymmetry during the last three decades, although the evidence is less unambiguous when evaluated over the last 50 years.     

Comparing two diverse methods for generating perceptual maps: Multidimensional scaling versus the hand-drawn technique

Multidimensional scaling techniques have lately been subjected to criticism because of a supposed lack of reliability and validity. Yet, no alternative cognitive map-producing techniques have been suggested. The present research describes a graphic technique for developing cognitive maps and compares this technique to multidimensional scaling in terms of reliability and validity. The two techniques are also compared in terms of perceived subject difficulty in completing the tasks and the ability of each technique to predict future brand behavior.     

Product life cycle research: A literature review

The purposes of this paper are threefold: to review the scope of product life cycle (PLC) research; to pinpoint areas requiring further investigation; and to provide guidelines for future researchers. Because of the paucity of empirical evidence, only tentative conclusions are advanced. For example, the most common PLC pattern is the classical, bell-shaped curve, but it is not the sole shape. The application of various forecasting techniques across the PLC have met with merely moderate success. Very little research has been conducted either on how different characteristics of the firm influence the PLC or on the actual use of various PLC-strategy theories by business planners. Finally, investigators have focused almost exclusively on validating the existence of the PLC concept among nondurable consumer goods. Industrial items, as well as major product changes, have been nearly ignored. The main conclusion is that additional research-more diversified and extensive in nature-is needed on many PLC topics.