Global Pricing Strategy for a Quick-Service Restaurant Chain

The purpose of this paper is to compare prices for a popular quick-service restaurant chain (i.e. McDonalds’) across countries throughout the world using the “Big Mac Index” published by “The Economist.” The index was originally developed to measure the valuation of international currencies against the U.S. dollar. The analysis in this study examines the relationship between the price of a Big Mac and other variables such as the cost of beef, price elasticity, and income. Finally, these relationships are reviewed to draw inferences concerning the use of demand, costs, and competition in setting prices

An Evaluation of the Relative Importance of Tourism for Islands

The purpose of this study was to compare islands and regular countries to determine if islands depend more on tourism in their economies than regular countries. In fact, it is possible that islands depend too much on tourism. A literature review covers the various areas of research regarding island tourism, including economic impact, sustainability, forecasting, and destination management. Data from the World Bank Group was used to form a panel of 140 countries for the period 1995 through 2006. Islands and regular countries were compared on economic factors such as GDP per capita, travel receipts, and travel receipts as a percentage of exports. The results indicate that islands have a lower level of travel receipts than regular countries, but travel receipts represent a higher percentage of exports for islands

A Look at a Modernized Family Life Cycle and overseas Travel

The Purpose of This Study Was to Determine the Vacation Attributes Preferred by Residents of the United States When They Engage in overseas Travel. the Sample Was Segmented into Family Life Cycle Stages and Evaluated by Segment. a Modernized Life Cycle Was Used to Include Single Parents and Middle-Aged Couples Without Children and It Was Concluded that These Two Groups Do Represent Viable Market Segments. They Take More overseas Trips on Average Than the Other Segments and They Demonstrate Some Degree of Destination Loyalty. © 1992 Taylor & Francis Group, LLC

An Examination of the Means-End Model of Price, Quality and Value in the Service Industry

The Intangible Nature of Services Often Complicates the Marketing Process. Many Service Industries Such as the Hotel Industry Face the Difficult Task of Managing the Temporal Demand for their Products. Also, the Supply of the Various Services Has Outpaced the Demand over the Last Decade. Given This Level of Competition, Service Firms Must Decided Whether to Focus on Obtaining a Sustainable Competitive Advantage through Offering Lower Prices or Providing High Quality And/or a Unique Product. Zeithaml (1988) Presented a Means-End Model Illustrating Consumer Perceptions of the Proposed Relationships between Price, Quality, and Value. Perceived Quality and Perceived Price Were Proposed to Have a Combined Effect on Perceived Value, and the Consumer\u27s Decision to Purchase a Product Was Proposed to Be Directly Related to His/her Evaluation of Value. Other Authors Have Focused on the Relationship between Price and Quality, and Many Authors Have Studied the Determinants of Service Quality and Satisfaction (E.g., SERVQUAL and SERVPERF). Script Theory Provides the Most Practical Approach to Understanding Consumer Perceptions of Services and the Decision-Making Process. a General Description of Script Theory is that a Consumer\u27s Satisfaction with a Service is Related to a Confirmation or Disconfirmation of Expectations. the Purpose of This Paper is to Empirically Test a Simplified Version of the Zeithaml Model to Evaluated the Importance of Perceived Value in Determining Customer Satisfaction

The Impact of Age and Family Life Experiences on Mexican Visitor Shopping Expenditures

Mexican Nationals Frequently Visit Border Towns and Other Cities in the United States that Are in Close Proximity to their Areas of Residence for the Main Purpose of Shopping at Popular Malls and Outlet Centers. However, It is Somewhat Difficult to Gather the Necessary Information in Order to Profile the Visitors and Develop Marketing Strategies for Targeting the Appropriate Market Segments. the Purpose of This Paper is to Identify the Key Target Markets for U.S. Shopping Malls based on the Age and Family Life Experiences (I.e., Marriage and Having Children) of the Mexican Visitors. First, a Three-Factor ANOVA Analysis is Used to Examine the Impact of These Characteristics on Shopping Expenditures, Including the Interaction Effects. Then, a Cluster Analysis is Performed in Order to Segment the Market using Age and the Family Life Experience Variables. Finally, Recommendations Are Provided based on the Expenditures and Trip Behavior by Family Life Cycle Stage. © 2010 Elsevier Ltd

The Use of Advertising in Managing Destination Image

Tourism is a Major World Industry and Many Countries Rely on Tourism Revenues in their Balance of Payments. It is Therefore Imperative that a Country Convey a Positive Image to Tourists. Preferences for Tourism Destinations Are Largely Dependent on the Favourableness of Perceptions of Those Destinations and Advertising is One of the Most Efficient Means of Conveying Images. This Study Examines Travellers\u27 Attitudes towards a Country in Southern Europe based on the Amount of Advertising to Which They Have Been Exposed. the Results Indicate that Advertising is an Effective Means by Which to Improve Image; However, It is Uncertain Whether This is a Cognitive Process or a Mere Exposure Effect. © 1991

The Smoking Debate: A Look at the Issues Surrounding Smoking Bans in Restaurants

There is Currently a Debate over Whether Smoking Should Be Banned in Restaurants and Other Public Places. the Public Health Officials Are Concerned About Employees and Customers Being Exposed to Secondhand Smoke. Restaurant Owners Feel They Should Be Allowed to Determine their Own Policies based on Market Conditions. the Purpose of This Study is to Examine the Issues in the Smoking Debate based on a Survey of Restaurant Operators and a Survey of Customers in a City Where a Smoking Ban Was About to Go into Effect. All Viewpoints Were Considered and Conclusions Were Drawn based on the Empirical Evidence

Quality Measurement in Professional Services Firms

The Purpose of This Paper is to Examine the Nature of the Association between Service Quality as Perceived by Consumers and its Determinants. in Particular, the SERVQUAL Instrument is Discussed and Then It is Demonstrated How It Can Be Adapted 1.0 Fit the Needs of Small Professional Services Firms using a CPA Firm as an Example. the Entire Analysis Can Be Performed with a Spreadsheet Package and the Results Are Easy to Interpret. the Results Are Presented and the Managerial Implications Are Discussed. © 1991 Taylor & Francis Group, LLC

A Means-end Approach to Investigating the Influence of Perceived Value on Consumers’ Purchase Intentions

Customer Value Has Become the Focus of Firm Strategy in the 1990\u27s (Chan and Marborgue 1997; Slater 1997). Managers Can Benefit by Understanding of the Confluence of Price, Quality, and Value on Customers\u27 Comparative Judgments and Intentions to Repurchase. a Thorough Comprehension of These Relationships Would Provide a Sound Basis for Formulating Operations and Communications Strategies (Vantrappen 1992). Recently, There Has Been a Good Deal of Attention Given to the Use Customer Value (Band 1991; Gale 1994) in Marketing, But There is Still a Need to Examine the Importance of Customer Value Across Industries. the Purpose of This Study is to Investigate the Influence of Customer Perceptions of Price and Quality on Value, Comparative Judgments, and Repurchase Intentions using Means-End Theory (Gutman 1982; Reynolds and Gutman 1984) for Hotel Travel