The Role of Advertising Educators as Problem Solvers in the Field of Advertising

Abstract

Nationally syndicated product-media data services are very useful for analyzing the nature of target markets. They are not, however, generally considered useful for estimating television reach and frequency. This paper explains how selectivity indices derived from national product-media data can be combined with data from more specialized television-usage data services to yield an estimate of target market ratings. The paper describes a pilot study designed to test the plausibility of this approach.     

Monetary Policy Rules for Transition Economies: An Empirical Analysis

In this paper, we investigate the monetary policy reaction functions for the new European Union member states. We find interesting differences when looking at both interest rates (the Taylor rule) and monetary base (the McCallum rule) as monetary policy rules. Monetary aggregate is more likely to react to the deviation of inflation from its target, while short‐term interest rates are highly sensitive to the deviation of exchange rates in the Czech Republic, Poland, Slovakia, and Slovenia. For Hungary and Romania, both interest rates and money are responsive to inflation. In empirical literature, much attention is paid to the use of the Taylor‐type rule for developed economies. However, our empirical results raise questions on the reliance of this rule for these transition economies.     

Modelling Impacts of Wildlife Tourism on Animal Communities: A Case Study from Royal Chitwan National Park,Nepal

This paper describes the development of a generic model which allows for the analysis of wildlife-tourism interaction impacts in the natural environment. The development of a computer system to facilitate the collection of data and the use of this model is described, using data collected on large mammals in Royal Chitwan National Park, Nepal. The computer system stores parameters describing wildlife tours and animal characteristics for an area and plots regions of disturbance and non-disturbance for the animal in that area. Predictions can then be made regarding the potential impacts of tourism on the animal species for the area. Applications for this model and computer system include the management of high tourism areas at sustainable levels so that tourist enjoyment is maintained and animal disturbance is minimised.     

The Strategic Implications of EMU for European Banking

This paper reviews the broad impact of the European SMP (Single Market Programme) and approach of EMU (European Monetary Union) on European bank strategies.

Select but key aspects of the competitive strategies that banks might pursue in this ‘New Europe’ are then considered. Within this review; the key strategic question is explored whether banks necessarily have to be bigger in order to be more efficient and even ultimately to survive in a post-EMU world. It is argued thut efficiency considerations should dominnte over size per se. The strategic perspective that will be developed is to

view EMU as the next stage on from the present SMF! This perspective avoids the mistake of visuulising any kind of EMU as likely to precipitate dramatic ‘breaks’ in the present

strategic development of European banking. Since the SMP is well advanced, we already have some experience of the

strategic reactions of banks towards a single European banking market; this provides a useful indicator of at least some of the broader bank strategic reactions that might be expected to EMU.     

Wildlife tourism as a common pool resource issue: enabling conditions for sustainability governance

Wildlife tourism is potentially a common pool resource (CPR) issue when the following are applicable: it is difficult to exclude tourists; their experiences are affected by others’ activities; and adverse impacts on the wildlife occur. CPRs are typified by non-excludability and subtractability. Relatively few efforts have been made to consider tourism in this way or to use the concept of CPR in tourism management schemes. This paper (1) explores the possibility of wildlife tourism being a CPR issue, (2) derives a list of enabling conditions required for the sustainability of such resources and (3) determines the applicability of the conditions through a case study. Having described the potential for wildlife tourism to be a CPR issue, the enabling conditions explored in the rest of the paper follow: the characteristics of the tourism resource system and its user groups, the associated institutional arrangements and the external environment. The application of CPR thinking to the case study, whale shark tourism in Ningaloo Marine Park, Western Australia, revealed the contribution of institutional arrangements, particularly those associated with the State Government, to sustainable management. The use of the enabling conditions as a tool for managing wildlife tourism is discussed.     

Utilitarian and hedonic shopping value in the US discount sector

General merchandise discount retailers in the US have evolved to offer higher levels of hedonic shopping value, thereby intensifying levels of intra- and inter-type competition within the industry. Academic research on consumer reactions to these efforts is limited. This study investigates consumers’ perceptions of utilitarian and hedonic shopping value associated with the two leading US general merchandise discounters. Findings suggest differences in perceptions of the level of hedonic benefits offered by the discounters and provide useful insight for the further development of marketing strategies.     

Price Discovery in the Treasury‐Bill When‐Issued Market

When‐issued (i.e., forward) trading in T‐bills yet to be auctioned provides a unique environment for examining price discovery. Because T‐bills are auctioned in a sealed‐bid process, when‐issued traders cannot observe the spot market price. Yet the forward price must ultimately converge on the auction outcome price. Our results indicate that traders in the when‐issued market “discover” the ultimate auction price. Little evidence is found that standard order flow variables contribute to price discovery. Instead, the ability to observe a few trades with relatively small volume in the when‐issued market is sufficient to discover the auction price resulting from the sealed‐bid process.     

Interrupted anticipation after a service failure: The role of olfactory sensation on expected pleasure, taste enjoyment, consumption, and repatronage intentions

When consumers are highly charged with the anticipation of indulging in a pleasurable eating experience, a service failure that threatens to deny them the opportunity to satisfy their appetitive goals produces an “interrupted anticipation.” This study demonstrated that among those whose eager anticipation was interrupted by an unexpected service failure, food aroma tended to reinforce unpleasant feelings and generally negate the positive emotional boost normally expected from a positive olfactory cue. This resulted in significantly lower levels of expected pleasure, taste enjoyment, quantity of food consumed, and repatronage intentions. In contrast, for those whose anticipation was not interrupted, the food aroma exposure significantly enhanced the positivity of the consumer's service experience. When service failures lead to interrupted anticipation, service recovery efforts may sometimes prove to be ineffective in restoring the positive feelings of customers. Implications for theory development and managerial practice are also discussed.     

Volatility in stock returns for new EU member states: Markov regime switching model

In this paper, we investigate the volatility in stock markets for the new European Union (EU) member states of the Czech Republic, Hungary, Poland, Slovenia and Slovakia by utilising the Markov regime switching model. The model detects that there are two or three volatility states for the emerging stock markets. The result reveals that there is a tendency that the emerging stock markets move from the high volatility regime in the earlier period of transition into the low volatility regime as they move into the EU. Entry to the EU appears to be associated with a reduction of volatility in unstable emerging markets.     

European steel policies in the 1980s: Hindering technological innovation and market structure change?

European Steel Policies in the 1980s: Hindering Technological Innovation and Market Structure Change? — This paper examines the effects of the European Commission’s Manifest Crisis Policy of production quotas on the growth of European minimills during the 1980s. In particular, the study seeks to determine whether the Commission-approved secondary market for the quota rights created sufficient flexibility to ensure that low-cost suppliers increased production during this period of steel industry rationalization. The empirical results indicate that the policies did significantly hinder minimill growth during the quota period but did not prevent later minimill expansion.