A suggested taxonomy for marketing thought: The case of lacking applied development and research in marketing

An examination of marketing literature reveals a surpricing deficiency of articles discussing theoretical applications in marketing. These deficiencies are largely in the area of specific, practical, everyday applied marketing. This article casts the literature into an overall taxonomy of marketing thought and development, highlighting the deficiency. Then the article discusses the deficiency positing reasons for its continued existence. It is thought that such a taxonomy might better help marketers identify critical need areas that might well result in unusually productive findings and advances important to all marketers. EDITOR'S FOOT-NOTE: Reviewers have agreed that marketing has no Taxonomy and needs one, but that a full study and statement would be a Herculean task. The paper published here is presented as a beginning and, as the author himself states, “in the hope to stir controversy, debate, and effort.”     

Lessons from the EMU for Asian Regional Integration: An Economic Perspective

Critical costs and benefits of creating an EMU-like structure in Asia are identified. Analyzing the EU, we pay particular attention to two kinds of economic benefits and costs that do not appear much in conventional economic analysis. First, there are benefits and costs of harmonization in different areas including the monetary area. Second, giving up sovereignty within a policy area can provide many countries with a kind of insurance against domestic institutional, legal, and political weaknesses. Although we emphasize economic arguments it is necessary to recognize that the EU is very much a politically motivated project. Politics may well be the biggest obstacle to an EMU-like monetary system in Asia. Conditions in Asia require consideration of alternatives to a monetary union since there exist disparate economic and political systems that may well prove impossible to fully integrate.     

The Timing of Purchases and Aggregate Fluctuations

We study the cyclical effects of the timing of durable goods purchases in a general equilibrium model in which both durable and non-durable goods are consumed and the durable good is lumpy. At the microeconomic level, the timing of durable goods purchases supplies some insulation for non-durable consumption over the cycle. At the macroeconomic level, the timing decisions tend to amplify and propagate wealth and income shocks. Our model also allows for endogenous price determination. When the price of the durable changes due to inflexibility of workers between sectors, the effect of adverse shocks is even stronger and longer.     

Prioritizing destination attributes for optimal resource allocation: a study of Chinese tourists visiting Britain

ABSTRACT

This study assesses the importance, performance, and the interrelationships of key destination attributes for marketing managers to prioritize resource allocation. A three-dimensional analysis of importance–performance–impact-analysis (IPIA) factors, based upon a survey sample of 275 Chinese tourists to Britain and an expert panel interview with 10 destination marketing managers is presented. Data analysis was based upon a mix of multi-criteria decision-making methodologies, the Decision-Making Trial and Evaluation Laboratory (DEMATEL) method and the Analytic Network Process (ANP) method. The framework can be applied to prioritize resources allocation to improve customer satisfaction in other contexts, such as a sector or a specific business.     

Comparison of Japanese and North American Runners of the Ideal Marathon Competition Destination

The Honolulu Marathon has a significant economic impact on the state of Hawaii's economy. Some 25,000 runners registered for the 2007 Honolulu Marathon, making it the sixth largest in the world as well as the third largest marathon in the USA, trailing only New York (34,729) and Chicago (32,332). Of the 25,000 Honolulu Marathon runners, over 17,000 were out-of-state runners. This study asked out-of-state participants in the marathon to assess the attractiveness of Honolulu and its marathon compared with that of an ideal marathon. Data used in this study were collected by distributing a research instrument to marathon participants. The instrument consisted of 30 items to represent the destinational attributes for an ideal marathon location city based on an extensive review of the literature on the selection of sport tourism event destinations. Over 473 surveys were collected for this study. Examination and analysis of these results will be very helpful in determining what the marathon runners believe are the ideal attributes of a city to host a marathon. This information will provide marketing guidance to the organizers of the Honolulu Marathon based on a segmented analysis of participants' perceptions of the event as well as give assistance to community and event organizations interested in attracting and marketing similar events.     

Does CSR contribute to the development of rural young people in cultural tourism of sub-Saharan Africa? Evidence from the Niger Delta in Nigeria

ABSTRACT

We assess the impact of a new corporate social responsibility (CSR) model of multinational oil companies on the development of rural young people (RYP) in cultural tourism in the Niger Delta of Nigeria. Six hundred RYP were sampled across the rural Niger Delta region. Using the logit model, results indicate that RYP have remained widely excluded from the General Memorandum of Understandings (GMoUs) interventions in cultural tourism projects due to the traditional beliefs that cultural affairs are prerogatives of elders, a caveat to the youths. This implies that if the traditions of the communities continue to hinder direct participation of the RYP from the GMoUs cultural tourism project interventions, achieving equality and cultural change would be limited in the region. The findings suggest that since handicrafts are key cultural products consumed in the tourism industry, GMoUs can play a role in helping to create an appropriate intervention structure that will be targeted towards youth empowerment in the area of traditional handicraft. This can be achieved if the Cluster Development Boards would focus on integrating rural young artisans into local tourism value chains, ensuring they benefit economically from the sector, and creating space for the views of RYP indigenous handicrafts knowledge.     

Systematic Risk and Diversification in the Equity REIT Market

This paper employs stock market-based data to examine the systematic risk and diversification properties of publicly traded equity real estate investment trusts (REITs). A unique data sample is created by combining firm return data with information on their property type holdings and the location of their investments. The systematic risk of equity REITs appears to vary by the type of property in which they invest, with beta being significantly higher for retail-oriented REITs than for REITs owning industrial and warehouse properties. In addition, the stock market data provides no evidence that REIT diversification across property types or broad geographic regions actually results in meaningful diversification as reflected in a standard market-based measure—the R ² from a simple market model regression.