25,375 research outputs found

    Using Transaction Utility Approach for Retail Format Decision

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    Transaction Utility theory was propounded by Thaler to explain that the value derived by a customer from an exchange consists of two drivers: Acquisition Utilities and Transaction utilities. Acquisition utility represents the economic gain or loss from the transaction. Where as transaction utility is associated with purchase or (sale) and represents the pleasure (or displeasure) of the financial deal per se and is a function of the difference between the selling price and the reference price. Choice of a format has been studied from several dimensions including the cost and effort as well as the non-monetary values. However, the studies that present the complete picture and combine the aspects of the tangible as well as intangible values derived out of the shopping process are limited. Most of the studies, all of them from the developed economies, have focussed on the selection of a store. They represent a scenario where formats have stabilised. However, in Indian scenario formats have been found to be influencing the choice of store as well as orientation of the shoppers. Also, retailers are experimenting with alternate format with differing success rates. The author has also not found a study that has applied this theory. It is felt that the Transactional Utility Theory may provide a suitable approach for making format decisions.

    A Study of the Factors That Influence Consumer Attitudes Toward Beef Products Using the Conjoint Market Analysis Tool

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    This study utilizes an analysis technique commonly used in marketing, the conjoint analysis method, to examine the relative utilities of a set of beef steak characteristics considered by a national sample of 1,432 US consumers, as well as additional localized samples representing undergraduate students at a business college and in an animal science department. The analyses indicate that among all respondents, region of origin is by far the most important characteristic; this is followed by animal breed, traceability, animal feed, and beef quality. Alternatively, the cost of cut, farm ownership, the use (or nonuse) of growth promoters, and whether the product is guaranteed tender were the least important factors. Results for animal science undergraduates are similar to the aggregate results, except that these students emphasized beef quality at the expense of traceability and the nonuse of growth promoters. Business students also emphasized region of origin but then emphasized traceability and cost. The ideal steak for the national sample is from a locally produced, choice Angus fed a mixture of grain and grass that is traceable to the farm of origin. If the product was not produced locally, respondents indicated that their preferred production states are, in order from most to least preferred, Iowa, Texas, Nebraska, and Kansas.

    Triple Play Time

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    Abstract: Digital convergence thrusts telephony, television and the internet into the socalled 'triple play' offerings, creating new forms of rivalry between cable operators and telephone companies. Markets participants feel compelled to enter new industries to survive, even though their core competencies are limited to their primary market. The outcome of triple play competition is likely to depend on the speed of the development of new technologies and the adaptation of the regulatory environment. In the short run, telephone companies will enjoy an advantage attributable to switching costs. However, this advantage will erode as younger subscribers switch to telephony on the internet.triple play; bundling; digital convergence; broadband access; television and telephone

    Should Optimal Designers Worry About Consideration?

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    Consideration set formation using non-compensatory screening rules is a vital component of real purchasing decisions with decades of experimental validation. Marketers have recently developed statistical methods that can estimate quantitative choice models that include consideration set formation via non-compensatory screening rules. But is capturing consideration within models of choice important for design? This paper reports on a simulation study of a vehicle portfolio design when households screen over vehicle body style built to explore the importance of capturing consideration rules for optimal designers. We generate synthetic market share data, fit a variety of discrete choice models to the data, and then optimize design decisions using the estimated models. Model predictive power, design "error", and profitability relative to ideal profits are compared as the amount of market data available increases. We find that even when estimated compensatory models provide relatively good predictive accuracy, they can lead to sub-optimal design decisions when the population uses consideration behavior; convergence of compensatory models to non-compensatory behavior is likely to require unrealistic amounts of data; and modeling heterogeneity in non-compensatory screening is more valuable than heterogeneity in compensatory trade-offs. This supports the claim that designers should carefully identify consideration behaviors before optimizing product portfolios. We also find that higher model predictive power does not necessarily imply better design decisions; that is, different model forms can provide "descriptive" rather than "predictive" information that is useful for design.Comment: 5 figures, 26 pages. In Press at ASME Journal of Mechanical Design (as of 3/17/15

    Measure the Measure: the Impact of Differences in Pesticide MRLs on Chilean Fruit Exports to the EU

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    This paper advances the measurement of nontariff measures (NTMs) by discussing a framework for how to compare regulations. We argue that relative differences in SPS regulations trigger the impact on trade flows between trading partner countries and specifically look at maximum residue levels (MRLs) for pesticides in a case study on Chilean fruit exports to the EU. In order to capture the relative differences and stringency in tolerance levels of trading partners, a simple indicator is constructed and applied in an econometric analysis. In comparison to existing indices of regulatory heterogeneity, the depth of information generated by our indicator severely compromises its coverage. Further development of our heterogeneity index will need to aim at including elements of process standards and conformity assessment procedures

    Modeling and Selection of Software Service Variants

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    Providers and consumers have to deal with variants, meaning alternative instances of a service?s design, implementation, deployment, or operation, when developing or delivering software services. This work presents service feature modeling to deal with associated challenges, comprising a language to represent software service variants and a set of methods for modeling and subsequent variant selection. This work?s evaluation includes a POC implementation and two real-life use cases

    A Software Product Line Approach to Ontology-based Recommendations in E-Tourism Systems

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    This study tackles two concerns of developers of Tourism Information Systems (TIS). First is the need for more dependable recommendation services due to the intangible nature of the tourism product where it is impossible for customers to physically evaluate the services on offer prior to practical experience. Second is the need to manage dynamic user requirements in tourism due to the advent of new technologies such as the semantic web and mobile computing such that etourism systems (TIS) can evolve proactively with emerging user needs at minimal time and development cost without performance tradeoffs. However, TIS have very predictable characteristics and are functionally identical in most cases with minimal variations which make them attractive for software product line development. The Software Product Line Engineering (SPLE) paradigm enables the strategic and systematic reuse of common core assets in the development of a family of software products that share some degree of commonality in order to realise a significant improvement in the cost and time of development. Hence, this thesis introduces a novel and systematic approach, called Product Line for Ontology-based Tourism Recommendation (PLONTOREC), a special approach focusing on the creation of variants of TIS products within a product line. PLONTOREC tackles the aforementioned problems in an engineering-like way by hybridizing concepts from ontology engineering and software product line engineering. The approach is a systematic process model consisting of product line management, ontology engineering, domain engineering, and application engineering. The unique feature of PLONTOREC is that it allows common TIS product requirements to be defined, commonalities and differences of content in TIS product variants to be planned and limited in advance using a conceptual model, and variant TIS products to be created according to a construction specification. We demonstrated the novelty in this approach using a case study of product line development of e-tourism systems for three countries in the West-African Region of Africa
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