Monetary policy and commodity price shocks

Against the background of the dramatic changes in the prices of oil and other raw materials in the recent past, this paper analyses the effects of commodity price shocks in a New Keynesian model. The focus is on the central bank’s choice of inflation target and the degree of real wage rigidity. It turns out that using core inflation rather than headline inflation is the superior strategy. Targeting expected headline inflation, as practised by most central banks, is a viable practical alternative to the core inflation target.     

Relevanz von Sponsoring — wann sich das Engagement wirklich lohnt

Zusammenfassung  Das Sponsoring wird als Kommunikationsinstrument immer bedeutender. Damit rückt die Frage nach der Wirkung dieses Instruments in den Vordergrund. Das Institut für Marketing und Handel der Universit?t St. Gallen führte zusammen mit der IG Sponsoring eine Studie durch, um aus der Perspektive von Kunden und Unternehmen die Relevanz und Wirkung von Sponsoring in der Schweiz zu ermitteln. Die Ergebnisse zeigen insbesondere, dass ein stark und positiv wahrgenommenes Sponsoring-engagement das Markenimage und in der Folge die Kaufabsicht sowie die Loyalit?t der Kunden positiv beeinflusst. Prof. Dr. Torsten Tomczak Ordinarius für Betriebswirtschaftslehre mit besonderer Berücksichtigung des Marketing und Direktor des Instituts für Marketing und Handel an der Universit?t St. Gallen Dr. Silke Mühlmeier Lehrbeauftragte und Managing Director des Center for Innovation an der Universit?t St. Gallen Dipl. Oec. Tim Oliver Brexendorf Projektleiter bei der htp St. Gallen Managementberatung AG und ehemaliger wissenschaftlicher Mitarbeiter im Kompetenzzentrum Brand Management des Instituts für Marketing und Handel an der Universit?t St. Gallen Dr. Wolfgang Jenewein Studienleiter des Executive MBA (EMBA) Programms der Universit?t St. Gallen und Lehrbeauftragter an den Universit?ten St. Gallen und Innsbruck     

Quo vadis integrated testing strategies? Experiences and observations from the work floor

Integrated testing strategies (ITSs) have received much attention as promising tools for more resource-efficient hazard and risk assessment of chemicals and for reducing animal use in toxicological testing. The usage of ITSs crucially depends on their acceptance and application by various stakeholder groups, for example chemical industry, scientific organisations and regulatory authorities. However, little is known about stakeholders’ views on the use and application of ITSs. In this study, we present results from semi-structured interviews with different stakeholder groups. Interviewees were asked to express their personal views and opinions about what an ITS is or should be, about ITS advantages and limitations, about ITS implementation and acceptance and about needs for further research. Using qualitative data analysis, we identified a set of core themes that stakeholders considered most relevant with respect to these six topics. Our results illustrate that stakeholder perspectives differed considerably for each of the topics addressed. We found particularly diverging views across stakeholder groups with respect to ITS limitations and acceptance. This underlines that improving stakeholder integration and intensifying the dialogue about useful and successful ITS applications should receive more attention for strengthening ITSs as effective decision-support tools.     

Acquiring Potential Blood Donors in Large Cities: A Preference-Based Donor Segmentation Study

In contrast to previous segmentation studies that apply mostly demographic segmentation criteria, this study presents a behavioral segmentation approach to explain how potential blood donors in large cities can be most effectively clustered and acquired. The authors conduct a representative online panel study among 2,062 potential blood donors living in the four largest cities of Germany—Berlin, Hamburg, Munich, and Cologne. Applying explorative factor analysis and cluster analysis, the study identifies and describes seven preference-based blood donor segments. Using the segmentation results, the authors derive several blood donor acquisition strategies that are directly linked to the identified preferences.     

Are temporally reframed prices really advantageous? A more detailed look at the processes triggered by temporally reframed prices

In this paper, we analyze effects of prices temporally reframed to a short period of time. We transfer a theoretical framework from a similar field of research to the context of temporally reframed prices. Based on this framework, we conduct a new empirical study. The results of the study show that temporally reframing prices leads to higher price attractiveness. However, this positive effect is overcompensated by negative effects of consumers’ feeling of being manipulated and of an increased perceived complexity of the price structure when temporally reframed prices are used instead of aggregate prices.     

Can advertising elements improve consumer evaluations of brand extensions with a moderate or low fit?

The focus of this paper is on analyzing how consumer evaluations of brand extensions with a moderate or poor fit to the core brand can be enhanced using advertising cues such as a fit prime and advertisement elements that are typically associated with the core brand. The results of the empirical study show that using a fit prime in advertisements is beneficial for moderately fitting brand extensions, but disadvantageous for poorly fitting extensions. Moreover, the results show that advertisement elements that are typically associated with the core brand can build links between the extension and the core brand and thus enhance the perceived fit. These findings imply that the options for extending a brand should not be considered as limited to product categories similar to the category of the core product because perceived fit can be influenced by communication. © 2011 Wiley Periodicals, Inc.