Distillery marketing and the visitor experience: a case study of Scottish malt whisky distilleries

Since the 1960s, visitor tours of Scottish malt whisky distilleries have been used by whisky companies to promote their products. The original concept of the visitor as passive observer has evolved to include the notion of visitor as VIP guest in three special interest attractions—connoisseur tours, whisky schools and the Classic Malts Cruise. A value‐attainment construct based on a means–end chain progression is used to illustrate the linkage between distillery attributes and the enhancement of higher values in visitors in the three attractions. Service quality is suggested as a key component of the attractions' success. Copyright © 2007 John Wiley & Sons, Ltd.     

Pre-testing on part of the data

Reserving part of a data set for final estimation, using the other part for pre-testing in a regression model is not good practice from a risk function point of view, even though such procedure has been advocated and practised by some econometricians and statisticians. Comparing quadratic risk functions for estimators based on pre-tests on part of the data with estimators based on pre-tests on all the data shows that neither dominate. However, the part sample estimator is decidedly inferior in average relative risk.     

Switches and fake switches in methods of production

It has long been recognised that Sraffa's analysis of the choiceof methods in joint production cannot be sustained, so thatpost-Sraffian economists have abandoned it. The paper returnsto Sraffa's own approach and identifies two characteristic elements:methodologically, it is of a ‘dynamic’ nature (itconsiders a potential move of the rate of profits) and, analytically,the switch-points are the common intersection of several wage–profitcurves. An internal critique consists in showing the existenceof fake switches, which are at the intersection of two wage–profitcurves but, unexpectedly, are not switch-points.     

Transparency and Liquidity: A Controlled Experiment on Corporate Bonds

This article reports the results of an experiment designed toassess the impact of last-sale trade reporting on the liquidityof BBB corporate bonds. Overall, adding transparency has eithera neutral or a positive effect on liquidity. Increased transparencyis not associated with greater trading volume. Except for verylarge trades, spreads on newly transparent bonds decline relativeto bonds that experience no transparency change. However, wefind no effect on spreads for very infrequently traded bonds.The observed decrease in transaction costs is consistent withinvestors’ ability to negotiate better terms of tradeonce they have access to broader bond-pricing data. (JEL codes:G14, G18, G23, G24, G28)     

How Related Multiscreening Could Positively Affect Advertising Outcomes

The use of multiple screens, also known as multiscreening, is assumed to have detrimental consequences for advertising outcomes. However, many people are engaging in this form of media multitasking on a daily basis. Therefore, it is important to focus on how to improve the effectiveness of advertisements when multiscreening. The aim of this study is to examine a key facilitator of advertising effects when multiscreening, namely task relevance. In two separate experiments—an online study (n = 280) and a laboratory (n = 185) study—we showed that people who engage in related multiscreening have better brand memory and more positive brand attitudes than people who engage in unrelated multiscreening via attention and subsequent program involvement. The results of the current study contribute to our understanding of multiscreening and advertising effects by showing that multiscreening does not always have to be detrimental to advertising effects. Furthermore, this study is unique because it combines two methodological approaches of multiscreening research.     

Applying the Elaboration Likelihood Model to increase recall of conservation messages and elaboration by zoo visitors

Zoos aspire to facilitate sustainable behaviours in visitors and conservation messages are plentiful in zoos. However, the degree to which these messages are being received and processed by visitors on site has rarely been studied. In our paper, we studied the effectiveness, as measured in message recall, of a common mode of face-to-face communication used in zoos, animal talks. We compared animal talks based on a theoretical framework, the Elaboration Likelihood Model (ELM), to a control group in which no framework was used. A two-phase ELM-based training programme, which instructed staff in techniques to increase cognitive possessing in visitors, led to increased visitor satisfaction after one training programme and increased relevancy (connected to the visitor's life) and elaboration (provoked thinking) after a second training session. There was a small number of staff who did not integrate conservation messages into talks despite repetitive training. Implications for zoos and their goal of effectively communicating conservation messages to visitors are discussed.     

Media generations and their advertising attitudes and avoidance: a six-country comparison

This cross-national survey (N = 5784) examined generational differences in media use, advertising attitudes and avoidance for five media (websites, social media, mobile phones, television, newspapers) in six countries (Germany, Spain, United Kingdom, United States, France, and the Netherlands). The results showed that the net generation and the newspaper generation, but not the TV generation, were clearly distinct in the frequency of their media use in all six countries. For advertising attitudes, generational patterns were visible, however, neither for all media nor in all countries. When generational differences did occur, the net generation was on the positive end, whereas the newspaper generation was usually the most negative. For advertising avoidance, generational patterns were less present and consistent. The findings point out interesting directions for future research. Practical implications for advertisers and media planners are discussed.     

Ownership structure and open market stock repurchases in France

Abstract

This paper examines open market stock repurchases in France. We find a positive average market reaction to the repurchase announcement. However, the magnitude of the price reaction is found to depend on a number of corporate governance structure measures. The positive aspects of the announcement only appear for a company with a low likelihood of being taken over, and with a low risk of minority shareholder expropriation. Specifically, stock repurchase programmes are good news when the firm is supported by foreign institutional investors, and in the case of controlled firms, when the firm has a second large shareholder, which guarantees an effective balance of power for the controlling shareholders.