New product development in Thomson Holidays UK: The use of research

New product development in the holiday business can be seen either as the continuation of an annual cycle or in the more classic sense as product innovation. The paper is concerned with the latter and describes the varying roles of market development and contribution of research to new package holiday developments at Thomson Holidays. It is shown that, unlike the field of fast-moving consumer goods, the live product test, without any kind of pre-launch testing, is often a more appropriate and cost-effective use of research time and funding.     

The fashion‐conscious behaviours of mature female consumers

Under‐appreciation of mature consumers as a numerous and comparatively wealthy market segment has resulted in not only lost revenues for business, but also lost consumption and service opportunities for the elderly. In response to expressed needs for more research into actual and desired consumption by older consumers, this study examined the apparel and shopping preferences of mature women in America. Independent living residents were surveyed concerning fashion consciousness, fashion information sources and shopping behaviours. Young and mature consumers’ reactions to female apparel ensembles were compared. Mature subjects purchased apparel for pleasure or need, but less for conformity. Decisions were influenced more by fit and comfort than by fashion, despite suggestions that dressing stylishly was important. New fashions were encountered via catalogue illustrations, social gatherings and window displays. Subjects high in fashion consciousness had greater financial and social involvement with fashion, greater chronological‐to‐cognitive age differences and larger clothing budgets. Young and mature consumers’ responses to apparel illustrations differed significantly. As the mature market expands, attention to age‐divergent definitions of fashion (such as those based upon admiration of comfort) will determine the success of apparel businesses. Assessment of cognitive age will facilitate identification of those mature consumers most predisposed toward fashion consumption.     

Back to basics in the marketing of place: the impact of litter upon place attitudes

Abstract

Attempts to apply marketing theory and principles to place have become a legitimate area of academic and ‘real world’ practice. However, place marketing does not typically incorporate all elements of the traditional 7 Ps, focusing far too often on just one of these – promotion. Besides this rather myopic approach, place marketing suffers from an overly strategic view of the world that ignores the meaning and lived experience of places to individuals, especially residents. The purpose of this article is twofold – first, we investigate the impact of litter on place attitudes. Litter is a common, but negative, element of place, which is intimately connected to the lived experience of a place but typically far removed from the positive promotional activity favoured by place marketing efforts and the study thereof. In this sense, the article reframes place marketing from a strategic to a micro-marketing endeavour. We found that exposing respondents to litter significantly lowers their place attitudes. Our second contribution is to demonstrate the relevance of classic marketing research approaches, such as attitudinal measures, to investigate litter and its impact on place evaluations, through quasi-experimental design (with 662 respondents). Through this, we extend the range of theory and method applied in place marketing – away from controllable promotional endeavours investigated through case-studies to a more holistic and robust interpretation of place marketing, which has a measurable impact upon the places where people live and visit.     

What drives new product innovation in China? An integrative strategy tripod approach

This study explores the determinants that drive new product innovation by employing the integrative strategy tripod approach. We analyze data from the World Bank Enterprise Survey on 1,692 manufacturing firms in China using a novel methodological approach (a fuzzy set qualitative comparative analysis) that focuses on multiple conjectural causations. Interestingly, our findings suggest that R&D investment alone is not a sufficient condition to facilitate a firm's product innovation, but stable government policy is a necessary condition for R&D investment. Even with a low level of R&D investments, it can achieve innovation if those investments are made in conjunction with high technology information system investments for supporting customer relationships. Finally, we find that when firms perceive informal competition to be a significant obstacle to their operations and R&D investment, they tend to engage in corrupt actions to create innovation. Implications for research and practice are provided.     

Self-drive tourism attributes: influences on satisfaction and behavioural intention

Self-drive tourism differs from other types of tourism in many aspects, such as the importance of accessibility by roads and the attractiveness of multiple destinations along the way. Little research has investigated self-drive tourism attributes systematically. Moreover, the consequences of these attributes, namely, tourist satisfaction and post-visit behavioural intentions, have not been examined. This study aims to fill these gaps. The study is based on 377 observations collected in Xinjiang Province, China, which is a popular domestic self-drive tourism destination. Results show that two factors of self-drive tourism attributes explain the data well. Destination characteristics positively affect tourist satisfaction but driving conditions do not. Tourist satisfaction positively leads to the intention to recommend and revisit. This study contributes to the body of knowledge in the area of self-drive tourism and suggests implications to practitioners.     

Country risk and financial integration—A case study of South Africa

This paper examines the importance of economic factors in a time-varying beta model of country risk before and after the occurrence of financial integration for South Africa's stock market. We examine how fundamental economic factors impact the variation of South Africa's country risk over the period 1993-2008. We find that exchange rates and gold prices are significant economic variables that induce significant volatility in South Africa's beta during the pre-financial integration period through June 1998. Post-financial integration, South Africa's beta rises and fundamental economic factors cease to be significant in determining its variation, a result consistent with an integrated financial market.     

Feminist Knowledges as Interventions in Physical Cultures

Abstract

This collection explores how feminist knowledges work as interventions in physical cultures and recognizes the considerable contribution of feminist theories and methodologies in understanding the power relations implicated in embodied movement. Our introductory piece weaves together questions about the gendered formation of physical cultures (across leisure, sport, the arts, tourism, well-being, and various embodied practices) with key issues raised by contributing authors, from disciplinary perspectives to theory-method approaches. Exploring questions of digital and physical cultures, more-than-human relations, post- and decolonial ways of knowing, and contemporary onto-epistemologies, this feminist collection aims to contribute to the movement of ideas within and across physical cultural studies. Bringing together diverse perspectives around our common focus we entangle physical cultures with a range of gendered problematizations and interventions that produce different ways of knowing, imagining and doing feminisms.     

Dynamic credit default swap curves in a network topology

Systemically important banks are connected and their default probabilities have dynamic dependencies. An extraction of default factors from cross-sectional credit default swap (CDS) curves allows us to analyze the shape and the dynamics of default probabilities. In extending the Dynamic Nelson Siegel (DNS) model to an across firm multivariate setting, and employing the generalized variance decomposition of Diebold and Yilmaz [On the network topology of variance decompositions: Measuring the connectedness of financial firms. J. Econom., 2014, 182(1), 119–134], we are able to establish a DNS network topology. Its geometry yields a platform to analyze the interconnectedness of long-, middle- and short-term default factors in a dynamic fashion and to forecast the CDS curves. Our analysis concentrates on 10 financial institutions with CDS curves comprising of a wide range of time-to-maturities. The extracted level factor representing long-term default risk shows a higher level of total connectedness than those derived for short-term and middle-term default risk, respectively. US banks contributed more to the long-term default spillover before 2012, whereas European banks were major default transmitters during and after the European debt crisis, both in the long-term and short-term. The comparison of the network DNS model with alternatives proposed in the literature indicates that our approach yields superior forecast properties of CDS curves.     

Potential Mainland Chinese Cruise Travelers’ Expectations,Motivations, and Intentions

The global cruise industry is the fastest growing sector in the entire leisure market. Due to the limited development of the Chinese cruise sector and government controls on outbound travel, the cruise, especially the outbound cruise, is a new concept in China. Few studies have addressed Chinese consumers’ perceptions of cruises. This study aimed to explore the preferences of potential Chinese cruisers and their expectations, motivations, and intentions in relation to taking an outbound cruise. This study also proposed and tested a conceptual framework: the Expectation, Motivation, and Intention (EMI) Model. Data were collected in Beijing and Shanghai; 242 valid responses were received. The results partially supported the proposed model. The theoretical and practical contributions of the study are discussed.