Beyond ‘the Beamer, the boat and the bach’? A content analysis-based case study of New Zealand innovative firms

In this paper we will use case studies to seek to understand the dynamic innovation processes at the level of the firm and to explain the apparent 'enigma' between New Zealand's recent innovation performance and economic growth. A text-mining tool, Leximancer, (version 4) was used to analyse the case results, based on content analysis. The case studies reveal that innovation in New Zealand firms can be best described as 'internalised', and the four key factors that affect innovation in New Zealand firms are ‘Product’, ‘Market’, ‘People’ and ‘Money’. New Zealand may be an ideal place for promoting local entrepreneurship, however, many market/technology opportunities cannot be realized in such a small and isolated economy, hence the poor economic performance

The Economics of Food and Agricultural Markets

The Second Edition of Economics of Food and Agricultural Markets is written for applied intermediate microeconomics courses. The book showcases the power of economic principles to explain and predict issues and current events in the food, agricultural, agribusiness, international trade, labor markets, and natural resource sectors. The field of agricultural economics is relevant, important and interesting. The study of market structures, also called industrial organization, provides powerful, timely, and useful tools for any individual or group making personal choices, business decisions, or public policies in food and agricultural industries. Readers will benefit from a large number of real-world examples and applications of the economic concepts under discussion. The book introduces economic principles in a succinct and reader-friendly format, providing students and instructors with a clear, up-to-date, and straightforward approach to learning how a market-based economy functions, and how to use simple economic principles for improved decision making. The principles are applied to timely, interesting, and important real-world issues through words, graphs, and simple algebra and calculus. This book is intended for students who study agricultural economics, microeconomics, rural development and/or environmental policy. The goal of the book is to encourage students to learn to “think like an economist” through application of benefits and costs to every decision, idea, and strategic decision. This objective is accomplished by including extended examples that cover a broad range of topics including the analysis of consumer decisions, supply and demand, and market efficiency; the design of pricing strategies; advertising and marketing decisions; and public policy analysis. Contents The book begins with a review and introduction of economic principles, including markets, scarcity, and the scientific method. Supply and demand are examined carefully and completely, with numerous real-world examples. The power of the market model is employed to explain and predict economic phenomena and current events. Elasticities are defined, explained, and put to use in decision making for all individuals, businesses, and policy makers. Next, the motivation for and consequences of globalization, immigration, and international trade are explored. Government policies are surveyed, including taxes, subsidies, trade policies, and immigration policies. Monopoly and monopsony are presented, using numerous real-world examples and anecdotes. Pricing strategies are comprehensively discussed, including price discrimination, peak-load pricing, two-part pricing, bundling, and advertising. Monopolistic competition and oligopoly are defined, explained, and used to understand real-world markets. Game theory, or strategic decision making, is introduced and used to demonstrate how to make better decisions in numerous situations when other individuals and groups are affected by a choice or strategy. Repeated games, sequential games, and first-mover advantage are carefully presented and considered.https://newprairiepress.org/ebooks/1028/thumbnail.jp

Money Down the (Brand) Drain : An exploration of the constraints of the adoption of brand strategies and the adversity facing investment in brands by Chinese suppliers

This paper explores the perception by Chinese marketing academics and consultants of benefits and constraints of the adoption of branding techniques. We explore the lived experience of Chinese branding experts to capture their experience of branding in China by means of 19 phenomenological interviews. There are differences between the Western and Chinese conception of brands, these in China serve a more social function and are associated with social processes. The Chinese economy has the characteristics of a large state economy and has large state-owned conglomerates which have strong brands as a result of Government support. Non-state owned businesses have much more difficulties innovating and building brands because of scarce resources. Business leaders in China seem to have a short term orientation, and there is evidence that they tend to select strategies based on imitation of leading brands, as well as that of manufacturing and marketing mass produced, low cost products. This proliferation of generic products and “me too” brands is complemented by a plethora of counterfeit goods. Chinese leaders do not have incentives to invest in long term innovation and brands, nor in brand management as they feel these investments cannot be protected from counterfeiting; at the same time, the competitive climate means that Chinese non-state owned companies need to be very responsive and achieve fast returns in order to survive. Policy makers should strengthen IPR protection legislation and counteract counterfeiting; foreign investors and local companies are advised to adopt mobile defense strategies for their brands

Delegating Pricing Power to Customers: Pay What You Want or Name Your Own Price?

Pay What You Want (PWYW) and Name Your Own Price (NYOP) are customer driven pricing mechanisms that give customers (some) pricing power. Both have been used in service industries with high fixed costs to price discriminate without setting a reference price. Their participatory and innovative nature gives rise to promotional benefits that do not accrue to posted-price sellers. We explore the nature and effects of these benefits and compare PWYW and NYOP using controlled lab experiments. We show that PWYW is a very aggressive strategy that achieves almost full market penetration. It can be profitable if there are promotional benefits and if marginal costs are low. In contrast, NYOP can be used profitably also if marginal costs are high and if there are no such benefits. It reduces price competition and segments the market. In a second experiment, we generate promotional benefits endogenously. We show that PWYW monopolizes the follow-up market but fails to be profitable. NYOP is less successful in penetrating the market but yields much higher profits