Defining the Product in Social Marketing: An Analysis of Published Research

Social marketing, a discipline rooted in marketing principles, lacks consensus on the conceptual and operational definition of product. The purpose of this article was to explore how social marketing researchers have conceptualized the product and how this definition has influenced strategy development. A systematic review of 10 years of peer-reviewed literature resulted in 92 intervention-based articles. Nearly all studies focused on health-related behavior change. Few studies used marketing language and the three product level classification. One-third of studies provided a tangible product while communication was the only strategy in over half of the studies. The focus on behavior as the product and using communication as the primary or sole strategy may limit social marketing's effectiveness as the approach resembles other social change strategies. If social marketing research aims to advance its position as a social change strategy, a starting point should be to reexamine the definition of product.     

Externalities of public firm presence: Evidence from private firms' investment decisions

Public firms provide a large amount of information through their disclosures. In addition, information intermediaries publicly analyze, discuss, and disseminate these disclosures. Thus, greater public firm presence in an industry should reduce uncertainty in that industry. Following the theoretical prediction of investment under uncertainty, we hypothesize and find that private firms are more responsive to their investment opportunities when they operate in industries with greater public firm presence. Further, we find that the effect of public firm presence is greater in industries with better information quality and in industries characterized by a greater degree of investment irreversibility. Our results suggest that public firms generate positive externalities by reducing industry uncertainty and facilitating more efficient private firm investment.     

Consolidation in a wildlife tourism industry: the changing impact of whale shark tourist expenditure in the Ningaloo coast region

In this paper, we examine the expenditure of whale shark tour participants at Ningaloo Marine Park, Western Australia; the location of the world's first whale shark tourism industry, established in 1989. We demonstrate that in 2006, participants' expenditure in the region was $894 per trip, total expenditure was $6.0 million (all figures are in Australian dollars), and between $2.4 and $4.6 million would have been lost to the region if whale shark tourism did not exist. Our measure of participants' expenditure is substantially lower than the calculation of $2370 per participant from a previous study of whale shark tourists using data collected in 1995. We argue that this is consistent with a change in the types of wildlife tourists that participate in an activity as the industry reaches the point of consolidation. Our results also suggest that using old data to forecast wildlife tourists' expenditure needs to take into account the industry's stage of development. Copyright © 2009 John Wiley & Sons, Ltd.     

Network externalities in consumer spending on lottery games: evidence from Spain

We use data from two nationally representative Spanish surveys in 2005 and 2006 to investigate spending on lottery games. Estimates from Tobit and double hurdle models of participation in lottery markets and spending on lottery tickets find that frequent participation in one game is not associated with an increased or decreased probability of participating in other games, but is associated with increased spending on other games. Consumer spending on different lottery games exhibits inter-related consumption decisions. Also, the assumptions underlying the double hurdle model, but not the Tobit model, better describe consumer spending on lottery tickets in Spain.     

Cattle and Wildlife Competition for Forage: Budget Versus Bioeconomic Analyses of Public Range Improvements in British Columbia

We analyze the gains of public investments in range productivity when cattle compete for forage with wildlife herbivores. Ignoring extra-market values by applying conventional budget analyses leads to higher cattle stocking rates and lower overall social benefits of public range improvements. This is demonstrated numerically for public forage in British Columbia, where privately profitable cattle stocking rates on newly seeded range exceed those that are socially optimal, perhaps by as much as double depending on the assumptions one makes about marginal preservation benefits. This highlights the importance of applying dynamic optimization, bioeconomic models to analyze investments in public range.
Les auteurs analysent quel gain on tire des sommes publiques investies dans la productivité des grands parcours quand les bovins et les herbivores sauvages se livrent concurrence pour les fourrages. Ne pas tenir compte des valeurs extérieures au marché en recourant à des analyses budgétaires ordinaires entraîne une hausse du taux de chargement et une réduction des avantages sociaux globaux issus de la bonification des grands parcours. Il est possible d'en faire la preuve numérique avec les pâturages publics de la Colombie-Britannique, où les parcours nouvellement ensemencés supportent une population de bovins lucrative pour l'éleveur mais supérieure au taux de chargement optimal socialement, parfois même du double, selon les hypothèses qu'on formule sur les avantages d'une préservation marginale. l'étude souligne bien qu'il est important de recourir à une optimisation dynamique, soit d'utiliser les modèles bio-économiques pour analyser les sommes investies dans l'amélioration des pâturages publics.     

Does anti-bribery enforcement deter foreign investment?

This article presents the first empirical evidence that bilateral fixed capital flows fall in response to anti-bribery enforcement actions. We hand-collect data on individual enforcement actions initiated by the US Department of Justice (DOJ) and show that anti-bribery enforcement in a country is followed by a 40% reduction in foreign fixed capital investments made by US companies in that country.     

Forecasting annual excess stock returns via an adaptive network‐based fuzzy inference system

In this study, an adaptive network‐based fuzzy inference system (ANFIS) and a neural network were tested for the ability of these techniques to forecast the annual excess returns of three large publicly traded companies from a time series of said returns. The predictive ability of these techniques was compared with that of an autoregressive moving average (ARMA) model. The Fair–Shiller test was used in the comparisons in order to obtain results that were not subjective and so that conclusions could be made regarding the information used by the techniques in the generation of their forecasts. Since predictive ability does not translate to profitability, a simple trading strategy was used to determine the ability to generate profits from trading upon the forecasts of the respective techniques. As hypothesized, the ANFIS and neural network techniques are able to generate forecasts with significant predictive ability. However, neither technique dominates the other or the ARMA model. In tests of the ability of the techniques to generate profits from their forecasts, a simple trading strategy was used (trading on the predicted sign of the return). The ANFIS and the neural network generated profits in all of the trading scenarios. However, neither technique dominated the other, nor did they consistently outperform the traditional and naive models (strategies). The mixed results in the predictive ability tests and the profitability tests indicate that the conclusions from the study differ based upon the context in which the forecasts are used. Copyright © 2005 John Wiley & Sons, Ltd.