The quantitative strategic planning matrix: a new marketing tool

Originally introduced in a 1986 Long Range Planning article, the Quantitative Strategic Planning Matrix (QSPM) has become widely used in strategic management but is only rarely used in marketing strategy. This paper reveals how and why the QSPM should be commonly used in marketing strategy to assess the relativeness attractiveness of alternative strategies being considered. An example QSPM is developed in this paper for a firm considering two alternative marketing strategies: (1) Increase Advertising Expenditures by 50% vs. (2) Lower Menu Prices 10%. The QSPM process is exemplified and limitations are discussed herein. The primary contribution of this paper was to reveal how and why the QSPM can be useful, both theoretically and practically, in a devising an effective marketing strategy.     

Testing a susceptibility threshold for risk promotion messages in the shark diving context

Abstract

This paper presents the results of two experiments designed to test a susceptibility threshold in the shark cage diving context, positing that persons who are high relative to low sensation-seekers are more likely to approach risks that are portrayed as scary and moderately probable. The results of study one provide evidence for the susceptibility threshold showing high sensation-seekers having greater behavioral intent to engage in risk behaviors when a message portrays a scary but only moderately probable risk. The second experiment finds high susceptibility messages result in more negative attitudes and behavioral intentions. Implications for risk message design and theory are addressed.     

Testing the expectations hypothesis when interest rates are near integrated

Nominal interest rates are unlikely to be generated by unit-root processes. Using data on short and long interest rates from eight developed and six emerging economies, we test the expectations hypothesis using cointegration methods under the assumption that interest rates are near integrated. If the null hypothesis of no cointegration is rejected, we then test whether the estimated cointegrating vector is consistent with that suggested by the expectations hypothesis. The results show support for cointegration in 10 of the 14 countries we consider, and the cointegrating vector is similar across countries. However, the parameters differ from those suggested by theory. We relate our findings to existing literature on the failure of the expectations hypothesis and to the role of term premia.     

CONTRACTING CONVICTS: THE CONVICT LABOUR MARKET IN VAN DIEMEN's LAND 1840–1857

The place of penal transportation in Australia's economic history has always been controversial. Convict workers were frequently denigrated as worse than useless, yet without convicts the settlements would have lacked sufficient labour for development. In Van Diemen's Land in the 1840s, convicts constituted more than half the labour supply, and if emancipists are included it was more like three-quarters. After transportation to New South Wales was halted in 1840, amidst claims that the assignment of convict labour was akin to slavery, Van Diemen's Land continued to receive transportees but adopted a new form of labour management: the so-called 'probation system'. To distinguish the new probation system from the 'slavery' of assignment, wages were paid to convict workers. This study uses 17,997 convict employment contracts to explore the labour market for convict passholders at the probation period. Actions speak louder than words, and irrespective of what might have been said about convict quality, by the end of transportation in 1853 convict workers were eagerly engaged at rising wages by employers desperate for labour.     

Book Notes

Journal of Consumer Policy -     

Achieving factory automation through Group Technology principles

This article illustrates the use of Group Technology (GT) principles for integrating the various elements of Computer Integrated Manufacturing (CIM). Several observations are made regarding the current state of batch manufacturing in the U.S. in light of these principles. Following a brief historical background, the various elements of GT are described as they occur in the manufacturing cycle. Since the main prerequisite to GT is part family identification, the various classification and coding systems for identifying part families, and also non-codification systems, are briefly described.The benefits of design rationalization and variety reduction are then explained in the context of CAD, CAM, and CAPP. Next, cellular manufacturing, currently the major problem area in the U.S. regarding GT, is discussed. The discussion includes new production technologies and concepts such as economies of scope. Materials management and operation scheduling are discussed next, highlighting the GT/MRP interface. The effect of GT and other new technologies on quality is then addressed and the significant impacts here are noted. Next, the effects on related areas such as personnel and accounting are described, including worker satisfaction, incentive schemes, and cost tracking.Last, an assessment of the current status of batch manufacturing is undertaken. Academic approaches, as well as industry crusades such as just-in-time (JIT) production, are reviewed and the current problems in adopting cellular layouts are addressed.