Predicting Future Buyer Behavior with Consumers' Confidence and Sentiment Indexes

Knowledge of consumer attitudes and expectations is an indispensable marketing tool and may be useful for predicting changes in consumer spending and saving patterns. However, most empirical research on the value of consumer confidence (sentiment) indexes for forecasting future buyer behavior has focused on the statistical correlation between these indexes and several measures of consumer spending and business activity. As Huth et al. (1994) correctly pointed out, a more appropriate approach is to focus on the direction of Granger-causality between these variables. Prior to testing for Granger-causality, we investigate the stationarity properties of alternative measures of these variables and we employ a flexible lag structure. Our empirical results support the use of these indexes to forecast business activity but not consumer purchases or overall economic activity.     

Global convergence of consumer spending: Conceptualization and propositions

The convergence versus divergence debate has persistently presented a puzzle in the scholarly literature. Forces of globalization created a wave of convergence. Yet, the recent worldwide events have changed the course of globalization, slowing its seemingly unavoidable forward direction. It is, therefore, incumbent upon international business scholars to reexamine the convergence versus divergence debate in the contemporary world economy. Despite the central role that global convergence plays in international business decisions, the literature is lacking a conceptualization of the convergence construct in terms of consumer spending behavior. Offering a new perspective derived from the convergence-divergence-crossvergence (CDC) framework and the coevolution theory, the authors define and conceptualize the convergence construct associated with consumer spending behavior. The proposed conceptual framework is comprehensive, offers refinements to the convergence phenomenon, and leads the way for further development of new theories in the international marketing domain.     

What factors determine e-satisfaction and consumer spending in e-commerce retailing?

Evidently, the Internet has resulted in a fundamental shift in retailing practice, creating a shift in both consumer and business behavior, which has been compared to that of the Industrial Revolution. The purpose of this paper is to analyze customer satisfaction in e-commerce market. In particular, we determine the factors that affect customer e-satisfaction and the relationship between customer satisfaction and consumer spending in e-commerce retailing. We focus on how American based e-commerce firms are impacted by these developments and how marketing practices have reflected the developing e-commerce situation. The results show that customer satisfaction does have an impact on consumer spending in American based e-commerce retailers. Further, the relationship between customer satisfaction and consumer spending is positive, where higher e-satisfaction results in more spending in e-commerce. The results also show that there is a direct relationship among e-service quality, e- satisfaction and e-loyalty in terms of online spending by consumers. However, the analysis shows that e-commerce still faces challenges compared with traditional offline retailers since customers cannot feel and try the products, and may end up choosing the products that they do not want.     

完善网络营销的策略研究

当前我国市场经济发展的背景下,网络用户数量快速增长,网络消费已经被越来越多的人所接受,网络营销也越来越受到企业的重视,由此而产生的各类问题也收到市场参与各方的高度重视,企业作为消费品的提供者,要将深入挖掘网络营销的优势,将自身的发展与保护消费者权益有效的结合,最大程度的实现企业的价值。     

营销组合理论的回顾与展望

营销组合理论的发展具有连续性。新旧组合理论不是相互替代而是相互补充和完善。营销组合理论以简练的方式反映了营销理论的发展并具有一条清晰的发展主线,即:随着社会经济的发展,市场竞争的加剧,生产者在营销组合中的地位在逐渐弱化和降低;消费者的地位在逐渐强化和提高,并最终达到了两者的平衡。营销组合理论的发展趋势表明,融合生产者、消费者、社会环境和自然环境,强调营销所涉及的各方之间的平衡、和谐关系是营销理论研究发展的方向。     

The environmental value‐attitude‐system model: A framework to guide the understanding of environmentally‐conscious consumer behaviour

Business writers such as Charter in 1992 predict that addressing the environmental consciousness of consumers will be one of the most important issues industry will face in the 1990s, and was seen by Ottmann in 1992 as the marketing trend of the decade. In 1993 Coddington judged much of green consumer potential to be latent as the environmental concern expressed in surveys was not clearly visible in current consumer behaviour. How best to respond to this new challenge and exploit the potential market is still causing confusion amongst marketers. However, it is a practical business concern as consumers may become more explicit in their demand and use their purchase power as an economic vote to effect social and environmental change. It is argued that marketing conclusions can only be drawn from a thorough understanding of the phenomenon. In this paper, the value‐attitude‐system model of Vinson et al. in 1977 is applied and extended to provide an insight into the complex phenomena affecting environmentally‐conscious purchase behaviour by integrating the underlying influences from the individual belief system.     

Doing Business in India

On its independence in 1947, India was among the two most industrialized nations in Asia. Since then it adopted a “mixed economy” approach that hindered its national growth and the optimum utilization of its immense resources (both natural and human). To re‐establish itself as an economic force in the region, India liberalized its economy in early 1990s. The adoption of the “free market economy” model has created great opportunities for foreign businesses. This article provides useful information on the complex business environment, aimed to help foreign businessmen and investors to develop a good understanding on key background knowledge for being successful in India. It reviews Indian historical development, political structure and climate, international relations, and economy and foreign trade. India's infrastructure, legal framework, socio‐cultural set‐up, competitive environment, as well as market structure and potential are also analyzed. © 2001 John Wiley & Sons, Inc.     

生态伦理:企业营销优势凸显的内在机理剖析

市场经济也是一种道德伦理经济,企业营销必须在一定的伦理规范下才能顺利取得既定目标。随着生态文明的来临,生态脆弱性越来越严重,生态政策约束性越来越紧,消费者生态消费意识渐浓,生态产品与生态技术价值日益凸显,企业营销必须适应这种生态发展趋势,严格遵循相应的生态伦理,主动开展生态化营销,唯有如此,才能实现生态环境约束的内涵式突破,才能实现"天人合一"的有序发展,才能在公众面前树立良好的生态伦理形象,才能在市场竞争中得以优胜。     

International Catalog Mix Adaptation

Abstract

Striking the right balance of adaptation of the international catalog mix may be the key to profitability. U.S. catalog firms, new to international markets, have less experience in adapting than firms in more globalized industries. The literature on international marketing strategy adaptation reveals that this decision depends on the environment, industry, market, product, and characteristics of the firm. This paper examines the influence of market similarity, type of business and the firm's international experience on international catalog adaptation, and explores the effects of catalog adaptation on a firm's performance. We hypothesize that the greater the market similarity, the less likely it is that firms will adjust their catalog. We also argue than adaptation is greater for consumer catalogs than for business-to-business catalogs. A third hypothesis is that more internationally experienced firms will adapt more and a final hypothesis is that a greater degree of adaptation will increase the international catalog performance. The results did not support the association of international catalog adjustment and market similarity, experience, and type of catalog. Findings are mixed both on catalog adaptations and firm performance. We found that some but not all adaptations in the catalog lead to improved performance. We speculate that U.S. catalog firms are making adaptations to reduce the costs of international marketing operations. This cost reduction strategy may not necessarily lead to profitability, thereby discouraging other firms from entering international markets.     

A new look at faith-based marketing: The global halal market

Faith-based marketing, or addressing consumers’ religious sensibilities with faith-friendly offerings, represents a new wave of growth for companies. While kosher goods and Christian movies are well-known examples of this trend, companies continue to overlook opportunities for growing faith-based segments. Representing the fastest-growing faith-based consumer group in the world, Muslims, in particular, are a largely untapped segment. Forward-looking companies such as Nestlé, Walmart, and McDonald's consider this segment as the next ‘one-billion’ market, after China and India, and are developing strategies to appeal to the Muslim consumer. We focus on the key to tapping into the sizable Muslim spending power: halal marketing. Contrary to common belief, halal marketing is not confined to dietary goods. Rather, it pertains to a diverse range of offerings from cosmetics to tourism that represents a global market worth $2.1 trillion annually. Modern interpretations of halal echo the claims of organic and fair-trade industries, broadening the appeal of halal to mainstream consumers. Despite the vast opportunities in halal marketing, winning the pocketbooks of Muslim consumers involves cultural, operational, and geopolitical challenges. We provide an overview of this emerging market and offer five lessons for successful halal marketing.     

Construction of consumer choice in the market: challenges for environmental policy

Drawing from the literature on the analytics of government, the paper discusses marketing as a form of government, elaborating and illustrating the many ways in which consumer choice is shaped, modified and directed in the market through practices and techniques of consumer marketing. The aim is to critically reflect upon and render problematic the individualistic ideas of the green consumer as a powerful market force and to provoke discussion on the conceptualization – and construction – of consumer subjectivity and social problems in marketing. Taking examples particularly from the fashion and clothing industry, the paper discusses the ways in which marketing activities come to shape consumer conduct by operating through the choice of individuals who freely pursue their needs and desires, and by working on the environment within which this freedom of choice is exercised. The paper contributes to the literature on green consumerism by systematically interrogating and elaborating on the modes and practices of marketing thought and expertise through which consumers and consumption are rendered intelligible and actionable in the market.     

Business immigrants and the entrepreneurial nexus

In the 1990s, many nations pursued immigration policies aimed at attracting entrepreneurs who could invigorate their domestic economy. This paper examines New Zealand’s business immigration policy and contrasts it to that of Canada. Immigrant entrepreneurs explored business ventures that either did not materialise or ended in failure. Many resorted to passive investments. They had to learn to do business in the new environment. This paper suggests the policies were based on an outdated model of entrepreneurship that emphasises the attributes of the individual. The experience of business immigrants highlights the dynamics of fit in the nexus between individual and environment.     

消费品市场信用缺失的博弈分析

当前我国的整个市场特别是消费品市场存在着严重的信用缺失问题,对消费者的身心造成了极大的伤害.市场经济是信用经济,诚信原则是市场经济的灵魂和基础,重建消费品市场诚信环境,维护消费者权益是当务之急.信用是博弈的结果,从消费者与企业、企业与监管部门的博弈可以找到消费品市场信用缺失产生的原因.针对问题,可以对症下药,从根源上进行治理:建立高效的信息传输机制;完善法律体系,加大监督执法力度,建立高额赔偿金制度,让造假者付出高昂的成本;深化产权制度改革,使产权所有者具有进行重复博弈的动力,而着眼于长远利益.     

Weight Watchers: Social Event Centered Marketing

ABSTRACT

This article looks at an international weight loss service company known as Weight Watchers and evaluates the promotional effectiveness of their social event focused business. Secondary research highlights their approach to the marketing mix and the significance of perception within this particular market and the marketing mix per se. Research of their traditional social event based business is reported in terms of the effect of the promotional tools used by Weight Watchers, influences on consumer decision making, consumer behavior, and internal and external factors which influence marketing decisions. The conclusions drawn are that there are significant issues for Weight Watchers to consider in terms of their future approach to the weight loss market. Firstly, the need for Weight Watchers to differentiate themselves further from their competitors and, secondly, to ensure they have distinct differentiation strategies for their social event and online businesses.     

Doing business in Russia: Lessons from early entrants

The business climate in Russia during the first half of the 1990s has been uncertain and difficult. Many companies would hesitate to invest in such a risky environment. Yet some have, and many others will do so, in light of President Boris Yeltsin's continued commitment to a market economy, and other positive developments. A survey of 49 American firms compares 24 American early entrant companies which began doing business in Russia before 1990, with 25 later arrivals. Companies in both groups shared many views about doing business there. However, differences between the two groups concerning motives, attitudes, and strategies suggest characteristics which might contribute to longer term staying power in this uncertain environment. Analyses are supplemented with examples of recent company activities, particularly those of early entrants. The article concludes with lessons based on early entrants' experiences. These lessons may benefit other firms like the newer entrants if they too choose a similar long-term horizon. © 1998 John Wiley & Sons, Inc.     

IMC in an emerging economy: the Chinese perspective

Integrated marketing communications (IMC) planning and implementation vary greatly by market and country. This study, based on the survey data compiled from 135 Chinese marketing executives, focuses on IMC in China's emerging economy, with the goal of providing an outlook of IMC's current development in China while uncovering factors in the country's socioeconomic and business infrastructures that may cause IMC to deviate from the traditional Western model. The study also explores Chinese responses to the rising proliferation of digital media and its implications for IMC development.

The study concludes that despite uneven business development and a current lack of training in IMC-related skills, IMC appears to be the inevitable course or the future of Chinese marketing communications. Due to factors unique to the Chinese business landscape, such as government-owned business structures, political nuances in marketing channel relationships, and uneven development of consumer culture, IMC in China will likely evolve differently than in the US. Survey respondents reveal that IMC is progressing much faster in local, privately owned firms than in their state-owned counterparts. The rise of digital media will also disrupt traditional media outlets, providing challenges to the Chinese marketer.     

The Chinese market from the Canadian perspective: obstacles and response tactics

This paper examines the obstacles faced by Canadian companies in their effort to crack the Chinese market and the business tactics that they have employed to overcome these obstacles. It is focused upon the industrial goods and services market at which Canadian companies have targeted their marketing efforts in China. The examination is based partly on secondary source data contained in Canadian government publications and the business press, and partly on primary information obtained in company interviews.     

Eventalizing the marketing concept

This paper “eventalizes” the marketing concept and in doing so will highlight the value of detailed cross-source analysis in historical research. But more than this, it will not simply call upon canonical sources in relation to debates surrounding the marketing concept for the reason that non-canonical sources – that is, periodical material or out-of-print texts that very few people have read or have acknowledged as central contributions to the field – may contain references to debates that have long been written out of the historical record and could encourage us, as marketing scholars, to adopt a more sceptical stance toward what we take for granted historically and neglect to subject to critical scrutiny. This argument is illustrated via the demonstration that marketing scholars and practitioners were well aware of the benefits that accrue from a customer orientation and were encouraged to orient their organisations in this manner by the growth in industrial production facilities stimulated by World War I. This growth meant that production output could be maintained at levels far in excess of consumer demand, thereby necessitating that organisations register and act upon consumer requirements. These themes continue to gain prominence until World War II when there was a brief return to a production orientation. At this point, business and marketing practitioners adopted a critical stance with regard to certain types of consumer research. There are multiple reasons for this. Firstly, the U.S. government became the major purchaser of industrial and consumer goods. Secondly, business practitioners were sceptical of the value of market and consumer research as a result of the failure by pollsters (who were utilising sophisticated statistical techniques) to predict the outcome of the 1948 U.S. Presidential election. Given the conflation of market research with polling research in the popular press and business community, business practitioners were unsure about the validity and usefulness of market research. In equal measure, environmental factors including rising levels of competition, employee specialisation, product diversification and organisational decentralisation would contribute to the (re)emergence of themes associated with the marketing concept.     

快速消费品行业如何做大做强及风险的规避

快速消费品行业是中国市场化程度最高的行业。但也存在很多让人棘手的问题,突出表现为行业与行业之间严重的恶性竞争和区域与区域之间的窜货问题,厂商之间关系恶化,渠道网络成员忠诚度下降,缺乏品牌整合营销策划与操作的意识等等。鉴于此,本文分别对快速消费品行业在渠道认知与开拓阶段,渠道巩固与发展阶段,渠道维护与稳定阶段的推广政策进行了分析探讨。