Search results for: impulse purchase

Authors: Daryl Clement Knutt, Neela Badrie, Marsha Singh

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Quality assurance and product labelling are vital in the food and drink industry, as a tactical tool in a competitive environment. The food label is a principal marketing tool which also serves as a regulatory mechanism in the safeguarding of consumer well –being. The objective of this study was to evaluate the level of consumers’ use and understanding of food labeling information and knowledge pertaining to food quality assurance systems. The study population consisted of Trinidadian adults, who were over the age of 18 (n=384). Data collection was conducted via a self-administered questionnaire, which contained 31 questions, comprising of four sections: I. socio demographic information; II. food quality and quality assurance; III. use of Labeling information; and IV. laws and regulations. Sampling was conducted at six supermarkets, in five major regions of the country over a period of three weeks in 2014. The demographic profile of the shoppers revealed that majority was female (63.6%). The gender factor and those who were concerned about the nutrient content of their food, were predictive indicators of those who read food labels. Most (93.1%) read food labels before purchase, 15.4% ‘always’; 32.5% ‘most times’ and 45.2% ‘sometimes’. Some (42%) were often satisfied with the information presented on food labels, whilst 35.7% of consumers were unsatisfied. When the respondents were questioned on their familiarity with terms ‘food quality’ and ‘food quality assurance’, 21.3% of consumers replied positively - ‘I have heard the terms and know a lot’ whilst 37% were only ‘somewhat familiar’. Consumers were mainly knowledgeable of the International Standard of Organization (ISO) (51.5%) and Good Agricultural Practices GAP (38%) as quality tools. Participants ranked ‘nutritional information’ as the number one labeling element that should be better presented, followed by ‘allergy notes’ and ‘best before date’. Females were more inclined to read labels being the household shoppers. The shoppers would like better presentation of the food labelling information so as to guide their decision to purchase a product.

Keywords: food labels, food quality, nutrition, marketing, Trinidad, Tobago

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Authors: Vaishali Joshi, Pallav Joshi

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Environment concern has become an important topic and continues to acquire more popularity in the coming scenario. We all are exposed to messages daily, which encourage us to involve in green behavior. Factors such as Global Warming, Climate change are creating a big buzz amongst the people. Realizing this, many firms/companies are adopting the bright way of making profit along with creating a brand image, by going green. These firms/companies persuade consumers to use purchase eco-friendly products for the benefit of the environment and the society. In such scenario, it becomes very essential for such firms/companies to approach the customers in a better way. In other words, we can say that marketing approach plays a crucial role for such firm/companies. Hence in this research study, we have tried to create a marketing approach for the firms/companies for selling the eco-friendly apparels. We have studied the hypothetical apparel brand who has taken a green initiative of making their products eco-friendly. We have named this hypothetical brand as “Go-Green”. By taking this hypothetical brand we have studied about how this brand can achieve better marketing approach. In particular, we have studied the four types of print advertisements of this brand as follows :(i) print advertisement showing only eco-friendly apparel (ii) print advertisement showing eco-friendly apparel labeled with eco-label (iii) print advertisement showing eco-friendly apparel along with information about the benefit of the featured apparel and (iv) print advertisement showing eco-friendly apparel with both eco-label and information about the benefit of the featured apparel. The conclusion of this research suggest that respondents more positively evaluate the print advertisement of eco-friendly apparel labeled with eco-labels and information about the benefit of the featured apparel, compared by other three print advertisement. Moreover, in this research study, we have studied environment knowledge, as the moderating factor affecting the consumer green purchase behavior.

Keywords: eco-friendly apparel, print advertisement, eco-label, environment knowledge

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Authors: Sacha Joseph-Mathews, Leili Javadpour

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In the tourism industry, hoteliers spend millions annually on marketing and positioning efforts for their respective hotels, all in an effort to create a specific image in the minds of the consumer. Yet despite extensive efforts to seduce potential hotel guests with sophisticated advertising messages generated by hotel entities, consumers continue to mistrust corporate branding, preferring instead to place their trust in the reviews of their consumer peers. In today’s complex and cluttered marketplace, online reviews can serve as a mediator for consumers who do not have actual knowledge and experiences with the brand, but are in the process of deciding whether or not to engage in a consumption exercise. Traditionally, consumers have used online reviews as a source of comfort and confirmation of a product/service’s positioning. But today, very few customers make any purchase decisions without first researching existing user reviews, making reviews more of a necessity, rather than a luxury in the purchase decision process. The influence of user generated content (UGC) is amplified in the tourism industry; as more than a third of potential hotel guests will not book a room without first reading a review. As corporate branding becomes less relevant and online reviews become more important, how much of the consumer’s stay expectations are being dictated by existing UGC? Moreover, as hotel guest experience a hotel through the lens of an existing review, how much of their stay and in turn their review, would have been influenced by those reviews that they read? Ultimately, there is the potential for UGC to dictate what potential guests will be most critical about, and or most focused on during their stay. If UGC is a stronger influencer in the purchase decision process than corporate branding, doesn’t it have the potential to dictate, the entire stay experience by influencing the expectations of the guest prior to them arriving on the property? For example, if a hotel is an eco-destination and they focus their branding on their website around sustainability and the retreat nature of the hotel. Yet, guest reviews constantly discuss how dissatisfactory the service and food was with no mention of nature or sustainability, will future reviews then focus primarily on the food? Using text analysis software to examine over 25,000 online reviews, we explore the extent to which new reviews are influenced by wording used in previous reviews for a hotel property, versus content generated by corporate positioning. Additionally, we investigate how distinct hotel related UGC is across different types of tourism destinations. Our findings suggest that UGC can have a greater impact on future reviews, than corporate branding and there is more cohesiveness across UGC of different types of hotel properties than anticipated. A model of User Generated Content Influence is presented and the managerial impact of the power of online reviews to trump corporate branding and shape future user experiences is discussed.

Keywords: user generated content, UGC, corporate branding, online reviews, hotels and tourism

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Authors: Aisha Ijaz

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The paper focuses on the impact of Muslim religiosity on convenience food purchases and involvement experienced in a non-Muslim culture. There is a scarcity of research on the purchasing patterns of Muslim diaspora communities residing in risk societies, particularly in contexts where there is an increasing inclination toward industrialized food items alongside a renewed interest in the concept of natural foods. The United Kingdom serves as an appropriate setting for this study due to the increasing Muslim population in the country, paralleled by the expanding Halal Food Market. A multi-dimensional framework is proposed, testing for five forms of involvement, specifically Purchase Decision Involvement, Product Involvement, Behavioural Involvement, Intrinsic Risk and Extrinsic Risk. Quantitative cross-sectional consumer data were collected through a face-to-face survey contact method with 141 Muslims during the summer of 2020 in Liverpool located in the Northwest of England. proportion formula was utilitsed, and the population of interest was stratified by gender and age before recruitment took place through local mosques and community centers. Six input variables were used (intrinsic religiosity and involvement dimensions), dividing the sample into 4 clusters using the Two-Step Cluster Analysis procedure in SPSS. Nuanced variances were observed in the type of involvement experienced by religiosity group, which influences behaviour when purchasing convenience food. Four distinct market segments were identified: highly religious ego-involving (39.7%), less religious active (26.2%), highly religious unaware (16.3%), less religious concerned (17.7%). These segments differ significantly with respects to their involvement, behavioural variables (place of purchase and information sources used), socio-cultural (acculturation and social class), and individual characteristics. Choosing the appropriate convenience food is centrally related to the value system of highly religious ego-involving first-generation Muslims, which explains their preference for shopping at ethnic food stores. Less religious active consumers are older and highly alert in information processing to make the optimal food choice, relying heavily on product label sources. Highly religious unaware Muslims are less dietary acculturated to the UK diet and tend to rely on digital and expert advice sources. The less-religious concerned segment, who are typified by younger age and third generation, are engaged with the purchase process because they are worried about making unsuitable food choices. Research implications are outlined and potential avenues for further explorations are identified.

Keywords: consumer behaviour, consumption, convenience food, religion, muslims, UK

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Authors: Mehmet Mucuk, Ayşen Edirneligil

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Budget and current account deficits are main problems for all countries. There are different approaches about the relationship between budget deficit and current account deficit. While Keynesian view accepts that there is a casual link between these variables, Ricardian equivalence hypothesis rejects it. The aim of this study is to analyze the validity of Keynesian view for Turkish Economy using VAR analysis with the monthly data in the period of 2006-2014. In this context, it will be used Johansen Cointegration Test, Impulse-Response Function and Variance Decomposition Tests.

Keywords: budget deficit, current account deficit, Turkish economy, twin deficits

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Authors: Radegunda Kessy, Justus Ochieng, Victor Afari-Sefa, Takemore Chagomoka, Ngoni Nenguwo

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Vegetables are excellent sources of dietary fiber, vitamins, and minerals which constitute an indispensable constituent of diets, but in Tanzania and other Sub-Saharan African countries, they are not readily available all year round due to seasonal variations in the production cycle. Drying of vegetables is one of the traditional methods for food preservation known to man. The Dodoma and Singida regions of Tanzania are characterized by semi-arid agro-climate, thereby experiencing short seasonal supply of fresh vegetables followed by long drought in which dried vegetables become an alternative to meet high household demands. A primary survey of 244 of rural consumers was carried out to understand how knowledge, attitudes, and perceptions of rural consumers affect consumption of dried vegetables. The sample respondents were all found to be aware of open sun drying of vegetables while less than 50% of them were aware of solar-dried vegetables. Consumers were highly concerned with the hygiene, nutritional values, taste, drying method, freshness, color of dried vegetables, timely availability and easiness of cooking as important factors they consider before they purchase dried vegetables. Logit model results show that gender, income, years of consuming dried vegetables, awareness of the importance of solar dried vegetables vis-à-vis sun-dried alternatives and employment status influenced rural consumer’s decision to purchase dried vegetables. Preference on dried vegetables differs across the regions which are also important considerations for any future planned interventions. The findings imply that development partners and policymakers need to design better social marketing and promotion techniques for the enhanced adoption of solar drying technology, which will greatly improve the quality and utilization of dried vegetables by target households.

Keywords: dried vegetables, postharvest management, sun drying, solar drying

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Authors: Li Pan

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The recently prevalent government procurement of public services in China boasts a new form of government’s provision of public service through the purchasing of social work from social organizations, a new measure of the transformation in governmental functions as well as an unprecedented opportunity for the development of social organizations. For the past few years, the phenomenon of a surge in the number of social work organizations and social work staff emerged right with the initiatives of energetically carrying out the purchase of public services by the government. Such efforts have presented the strong determination of the Chinese government in building a small government by streamlining administration and delegating part of the governmental power to social organizations. This paper is based on the 2012-2014 performance appraisal project of the Guangzhou municipal government’s purchasing of public services and the project was carried out in the summer of 2015. During the process of the appraisal, several general problems hindering the sustainable development of government purchasing of public service have been observed. As Guangzhou is among the rank of pioneer cities in the conduct of the reform, it is representative and imperative to study the sustainability of government purchasing of public service. In 2012, Guangzhou local government started contracting out public service to the community social organizations to provide general family services and special services to community residents, since when integrated family service centers and special service centers were established as platforms to provide public social service in a city-wide range. Consequently, taking an example of the current rapid development of government purchase of the integrated family services and special services in Guangzhou, this paper puts up several proposals for the sustainable development of Guangzhou municipal government’s procurement of public services on the perspective of social work’s resource dependence.

Keywords: government procurement of public services, Guangzhou, integrated family service center, social work, sustainability.

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Authors: Camila Lee Park, Mauro Fracarolli Nunes

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Understood as the preference for products and services that do not involve moral dilemmas, ethical consumption has been increasingly discussed by scholars, practitioners, and consumers. Among its diverse trends, the defense of animal rights and welfare seems to have gained particular momentum in past decades. Not surprisingly, companies, governments, ideologues, and virtually any institution or group interested in (re)shaping society invest in the building of narratives oriented to influence consumption behavior. The animal rights movement, for example, is devoted to the elimination of the use of animals in science, as well as of commercial animal agriculture and hunting activities. Although advances in ethical consumption may be observed in practice, it still seems more popular as rhetoric. Diverse scholars have addressed the disparities between self-professed ethical consumers and their actual purchase patterns, with differences being attributed to factors such as price sensitivity, lack of information, quality, cynicism, and limited availability. The gap is also linked to the 'consumer sovereignty myth', according to which consumers are only able to choose from a pre-determined range of choices made before products reach them. On the other hand, academics also debate ethical consumption behavior as more likely to occur when it assumes compliance with social norms. As sustainability becomes a permanent issue, customers may tend to adhere to ethical consumption, either because of an individual value or due to a social one. Regardless of these efforts, the actual value attributed to ethical businesses remains unclear. Likewise, the power of stakeholders’ initiatives to influence corporate strategies is dubious. In search to offer new perspectives on these matters, the present study concentrates on the following research questions: Do customers value products/companies that respect animal rights? If so, does such enhanced value convert into actions from the part of the companies? Broadly, we aim to understand if customers’ perception holds performative traits (i.e., are capable of either trigger or contribute to changes in organizational behaviour around the respect for animal rights). In addressing these issues, two preliminary behavioral vignette-based experiments were conducted, with the perspectives of 307 participants being assessed. Building on a case of the cosmetics industry, social, emotional, and functional values were hypothesized as directly impacting positive word-of-mouth, which, in turn, would carry direct effects on purchase intention. A first structural equation model was analyzed with the combined samples of studies I and II. Results suggest that emotional value strongly impacts both positive word-of-mouth and purchase intention. Data confirms initial expectations on customers valuing products and companies that comply with ethical postures concerning animals, especially if social-oriented practices are also present.

Keywords: animal rights, business ethics, emotional value, ethical consumption

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Authors: Jun-Ho Chung, Sung-Hyun Yoo, In-Hwan Choi, Hyun-Kook Lee, Moon-Kyu Song, Choon-Ki Ahn

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The extended finite impulse response (EFIR) filter is addressed to optimize membership functions (MFs) of the fuzzy model that has strong nonlinearity. MFs are important parts of the fuzzy logic system (FLS) and, thus optimizing MFs of FLS is one of approaches to improve the performance of output. We employ the EFIR as an alternative optimization option to nonlinear fuzzy model. The performance of EFIR is demonstrated on a fuzzy cruise control via a numerical example.

Keywords: fuzzy logic system, optimization, membership function, extended FIR filter

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Authors: F. Fekak, A. Gravouil, M. Brun, B. Depale

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During an earthquake, a bridge crane may be subjected to multiple impacts between crane wheels and rail. In order to model such phenomena, a time-history dynamic analysis with a multi-scale approach is performed. The high frequency aspect of the impacts between wheels and rails is taken into account by a Lagrange explicit event-capturing algorithm based on a velocity-impulse formulation to resolve contacts and impacts. An implicit temporal scheme is used for the rest of the structure. The numerical coupling between the implicit and the explicit schemes is achieved with a heterogeneous asynchronous time-integrator.

Keywords: bridge crane, earthquake, dynamic analysis, explicit, implicit, impact

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Authors: Vaishali Joshi

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In the past, companies and buyers operated as if there was infinite availability of natural resources for usage, which has resulted in the loss of our globe's natural ecosystem. People's consciousness of ecological concerns had increased, which showed the way for the evolution of the green revolution with the objective of discontinuing the use of products that are harmful to the ecosystem of the earth. This green revolution has made the consumers head toward those companies which are providing eco-friendly products s/service s through less eco-harmful ways. Studies show that companies started gaining a reputation in the market through their eco-friendly activities in their business. Hence companies should be alert to understand the consumer's environmentally friendly consumption behavior to survive and be in the game of the competition. Green marketing efforts guarantee beneficial exchanges without harmful consequences for current and /or upcoming generations. This hits the green policies of those companies which are claiming environmental concern. This means that these companies not only focus on the impact of their production and products on the ecosystem but also on every small activity in their value chain. One of the most ignored parts of the value chain is the medium through which the marketing of products/services is done. These companies should also take into account to what degree their selection of advertising media affects the ecosystem of the earth. In this study, a hypothetical fashion apparel brand known as "Dolphin" will be studied. In particular, the following objectives are framed: i) to study the brand attitude of the given fashion brand due to its selection of eco-friendly advertising medium ii) to study the advertisement attitude of the given fashion brand due to its selection of eco-friendly advertising medium and iii) to study the purchase intention of the given fashion brand due to its selection of eco-friendly advertising medium. An online experiment will be conducted. Respondents between the ages of 20-and 64 years will be selected randomly from the online consumer panel database. The findings of this study will have a great impact on the companies that are claiming environmental concerns by understanding how the advertising media is affecting the company’s brand image in the long run.

Keywords: eco-friendly advertising media, fashion, attitude, purchase intention

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Authors: Manuel Valencia Alejaandro Paz, Luz Nidia Quintero Jairo Palacios

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In present paper a set of technical approaches to improve the energy efficiency in processes controlled by electric motor drive systems EMDS are listed and analyzed. Energy saving becomes fundamental to improve the sustainability and competitiveness of organizations all around the world; increasing costs of electricity had impulse the use of different strategies to reduce the electric power condition. A summary of these techniques is presented and evaluated in the potential for energy saving policies.

Keywords: energy saving, EMDS, induction motor, energy efficiency, sustainability

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Authors: Pibool Waijittragum

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The purpose of this research is to analyze the marketing strategies of Thai Halal products which related to the way of life for Thai Muslims. The expected benefit is the marketing strategy for brand building process for Halal products in Thailand. 4 elements of marketing strategies which necessary for the brand identity creation is the research framework: Consists of Attributes, Benefits, Values and Personality. The research methodology was applied using qualitative and quantitative; 19 marketing experts with dynamic roles in Thai consumer products were interviewed. In addition, a field survey of 122 Thai Muslims selected from 175 Muslim communities in Bangkok was studied. Data analysis will be according to 5 categories of Thai Halal product: 1) Meat 2) Vegetable and Fruits 3) Instant foods and Garnishing ingredient 4) Beverages, desserts and snacks 5) Hygienic daily products; such as soap, shampoo and body lotion. The results will explain some suitable representation in the marketing strategies of Thai Halal products as are: 1) Benefit; the characteristics of the product with its benefit. Consumers will purchase this product with the reason of; it is beneficial nutrients product, there are no toxic or chemical residues. Fresh and clean materials 2) Attribute; the exterior images that attract to consumer. Consumers will purchase this product with the reason of; there is a standard proof mark, food and drug secure proof mark and Halal products mark. Packaging and its materials should be draw attention. Use an attractive graphic. Use outstanding images of product, material or ingredients. 3) Value; the value of products that affect to consumers perception; it is healthy products. Accumulate quality of life. It is a product of expertise, manufacturing of research result. Consumers are important. It’s sincere, honest and reliable to all. 4) Personality; reflection of consumers thought. The personality feedback to them after they were consumes this product; they are health care persons. They are the rational person, moral person, justice person and thoughtful person like a progressive thinking.

Keywords: marketing strategies, product identity, branding, Thai Halal products

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Authors: Chigbu Ruth Nnena

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This paper discussed the concept of meat its nutritive value in family meals. The paper further discussed the selection, storage and preparation of meat in family meal the Nigerian way. The paper made the following recommendations among others; that families in Nigeria should rear cow meat for easy access to the meant and that family should purchase meat that are fresh from chain shops in the market to avoid meat contamination among others.

Keywords: meat, selection, storage meals, concept and preparation

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Authors: Saeid Asghari

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The growing interest in sustainability and healthy lifestyles has stimulated the development of solutions that promote mindful consumption and healthier choices. One such solution is the use of transparent graded lanes in product packaging, which enables consumers to visually track their product consumption and encourages portion control. However, the extent to which this packaging affects consumer behavior, trust, and loyalty towards a product or brand, as well as the effectiveness of messaging on the graded lanes, remains unclear. The research aims to examine the impact of transparent graded lanes on consumer behavior, trust, and loyalty towards products or brands in the context of the Janbo chain supermarket in Tehran, Iran, focusing on Ketchup and edible oils containers. A representative sample of 720 respondents is selected using quota sampling based on sex, age, and financial status. The study assesses the effect of messaging on the graded lanes in enhancing consumer recall and recognition of the product at the time of purchase, increasing repeat purchases, and fostering long-term relationships with customers. Furthermore, the potential outcomes of using transparent graded lanes, including the promotion of healthy consumption habits and the reduction of food waste, are also considered. The findings and results can inform the development of effective messaging strategies for graded lanes and suggest ways to enhance consumer engagement with product packaging. Moreover, the study's outcomes can contribute to the broader discourse on sustainable consumption and healthy lifestyles, highlighting the potential role of packaging innovations in promoting these values. We used four theories (social cognitive theory, self-perception theory, nudge theory, and marketing and consumer behavior) to examine the effect of these transparent graded lanes on consumer behavior. The conceptual model integrates the use of transparent graded lanes, consumer behavior, trust and loyalty, messaging, and promotion of healthy consumption habits. The study aims to provide insights into how transparent graded lanes can promote mindful consumption, increase consumer recognition and recall of the product, and foster long-term relationships with customers. Findings suggest that the use of transparent graded lanes on Ketchup and edible oils containers can have a positive impact on consumer behavior, trust, and loyalty towards a product or brand, as well as promote mindful consumption and healthier choices. The messaging on the graded lanes is also found to be effective in promoting recall and recognition of the product at the time of purchase and encouraging repeat purchases. However, the impact of transparent graded lanes may be limited by factors such as cultural norms, personal values, and financial status. Broadly speaking, the investigation provides valuable insights into the potential benefits and challenges of using transparent graded lanes in product packaging, as well as effective strategies for promoting healthy consumption habits and building long-term relationships with customers.

Keywords: packaging customer behavior, purchase, brand loyalty, healthy consumption

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Authors: Sharon-Yasotha Veerayah-Mcgregor, Valipuram Manoranjan

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A backward or inverse problem is known to be an ill-posed problem due to its instability that easily emerges with any slight change within the conditions of the problem. Therefore, only a limited number of numerical approaches are available to solve a backward problem. This paper considers the Nagumo equation, an equation that describes impulse propagation in nerve axons, which also models population growth with the Allee effect. A creative operator splitting numerical scheme is constructed to solve the inverse Nagumo equation. Computational simulations are used to verify that this scheme is stable, accurate, and efficient.

Keywords: inverse/backward equation, operator-splitting, Nagumo equation, ill-posed, finite-difference

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Authors: H. A. Alzomor, B. K. Ouda, A. M. Eldeib

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Successful regional anesthesia depends upon precise location of the peripheral nerve or nerve plexus. Locating peripheral nerves is preferred to be done using nerve stimulation. In order to generate a nerve impulse by electrical means, a minimum threshold stimulus of current “rheobase” must be applied to the nerve. The technique depends on stimulating muscular twitching at a close distance to the nerve without actually touching it. Success rate of this operation depends on the accuracy of current intensity pulses used for stimulation. In this paper, we will discuss a circuit and algorithm for closed loop control for the current, theoretical analysis and test results and compare them with previous techniques.

Keywords: Close Loop Control (CLC), constant current, nerve locator, rheobase

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Authors: Dchieche Amina, Aboulaich Rajae

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In this work, we will modelize Waad Bil Mourabaha contract. This islamic contract provides the right to buy goods at a future date with a Mourabaha. Waad is a promise of sale or purchase of goods, declared in a unilateral way. In spite of the divergence between some schools of Islamic law about the Waad, this contract will allow us to study sophisticated and interesting contract: Waad Bil Mourabaha that can be used for hedging. In order to price Waad Bil Mourabaha contract, we will use an adapted Black and Scholes model using the Shariah compliant assumptions.

Keywords: Islamic finance, Black-Scholes model, call option, risks, hedging

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Authors: P. Treyer, M. Kujda, H. Urs

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The purpose of this paper is to digitally compensate for the apparent discharge time constant of the coaxial cable so that the current step response is flat and can be used to calibrate current transducers using the convolution method. For proper use of convolution, the step response record length is required to be at least the same as the waveform duration to be evaluated. The current step generator based on the cable discharge is compared to the Blumlein generator. Moreover, the influence of each component of the system on the performance of the step is described, which allows building the appropriate measurement set-up. In the end, the calibration of current viewing resistors dedicated to high current impulse is computed.

Keywords: Blumlein generator, cable attenuation, convolution, current step generator

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Authors: Ayşen Edirneligil, Mehmet Mucuk

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In developing countries, one of the most important restrictions about the economic growth is the lack of national savings which are supposed to finance the investments. In order to overcome this restriction and achieve the higher rate of economic growth by increasing the level of output, countries choose the external borrowing. However, there is a dispute in the literature over the correlation between external debt and economic growth. The aim of this study is to examine the effects of external debt on Turkish economic growth by using VAR analysis with the quarterly data over the period of 2002:01-2014:04. In this respect, Johansen Cointegration Test, Impulse- Response Function and Variance Decomposition Tests will be used for analyses. Empirical findings show that there is no cointegration in the long run.

Keywords: external debt, economic growth, Turkish economy, time series analysis

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Authors: Pin-Wei Chiang, Wen-Liang Chang, Ruey-Huei Yeh

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This paper investigates optimal replacement and preventative maintenance policies of secondhand products under a Finite Planning Horizon (FPH). Any consumer wishing to replace their product under FPH would have it undergo minimal repairs. The replacement provided would be required to undergo periodical preventive maintenance done to avoid product failure. Then, a mathematical formula for disbursement cost for products under FPH can be derived. Optimal policies are then obtained to minimize cost. In the first of two segments of the paper, a model for initial product purchase of either new or secondhand products is used. This model is built by analyzing product purchasing price, surplus value of product, as well as the minimal repair cost. The second segment uses a model for replacement products, which are also secondhand products with no limit on usage. This model analyzes the same components as the first as well as expected preventative maintenance cost. Using these two models, a formula for the expected final total cost can be developed. The formula requires four variables (optimal preventive maintenance level, preventive maintenance frequency, replacement timing, age of replacement product) to find minimal cost requirement. Based on analysis of the variables using the expected total final cost model, it was found that the purchasing price and length of ownership were directly related. Also, consumers should choose the secondhand product with the higher usage for replacement. Products with higher initial usage upon acquisition require an earlier replacement schedule. In this case, replacements should be made with a secondhand product with less usage. In addition, preventative maintenance also significantly reduces cost. Consumers that plan to use products for longer periods of time replace their products later. Hence these consumers should choose the secondhand product with lesser initial usage for replacement. Preventative maintenance also creates significant total cost savings in this case. This study provides consumers with a method of calculating both the ideal amount of usage of the products they should purchase as well as the frequency and level of preventative maintenance that should be conducted in order to minimize cost and maintain product function.

Keywords: finite planning horizon, second hand product, replacement, preventive maintenance, minimal repair

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Authors: Byomakesh Debata, Jitendra Mahakud

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The recent financial crisis has been characterized by massive monetary policy interventions by the Central bank, and it has amplified the importance of liquidity for the stability of the stock market. This paper empirically elucidates the actual impact of monetary policy interventions on stock market liquidity covering all National Stock Exchange (NSE) Stocks, which have been traded continuously from 2002 to 2015. The present study employs a multivariate VAR model along with VAR-granger causality test, impulse response functions, block exogeneity test, and variance decomposition to analyze the direction as well as the magnitude of the relationship between monetary policy and market liquidity. Our analysis posits a unidirectional relationship between monetary policy (call money rate, base money growth rate) and aggregate market liquidity (traded value, turnover ratio, Amihud illiquidity ratio, turnover price impact, high-low spread). The impulse response function analysis clearly depicts the influence of monetary policy on stock liquidity for every unit innovation in monetary policy variables. Our results suggest that an expansionary monetary policy increases aggregate stock market liquidity and the reverse is documented during the tightening of monetary policy. To ascertain whether our findings are consistent across all periods, we divided the period of study as pre-crisis (2002 to 2007) and post-crisis period (2007-2015) and ran the same set of models. Interestingly, all liquidity variables are highly significant in the post-crisis period. However, the pre-crisis period has witnessed a moderate predictability of monetary policy. To check the robustness of our results we ran the same set of VAR models with different monetary policy variables and found the similar results. Unlike previous studies, we found most of the liquidity variables are significant throughout the sample period. This reveals the predictability of monetary policy on aggregate market liquidity. This study contributes to the existing body of literature by documenting a strong predictability of monetary policy on stock liquidity in an emerging economy with an order driven market making system like India. Most of the previous studies have been carried out in developing economies with quote driven or hybrid market making system and their results are ambiguous across different periods. From an eclectic sense, this study may be considered as a baseline study to further find out the macroeconomic determinants of liquidity of stocks at individual as well as aggregate level.

Keywords: market liquidity, monetary policy, order driven market, VAR, vector autoregressive model

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Authors: Jae-Yong Sim, Jung-Hun Kwon, Ji-Sung Park, Kee-Joe Lim

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One of the latest trends for insulation systems to improve the insulation performance is the use of eco-friendly hybrid insulation using compressed dry-air. Despite the excellent insulation performance of sulphurhexafluoride (SF6) gas, its use has been restricted due to the problems with significant global warming potential (GWP). Accordingly, lightning impulse performance of the hybrid insulation system covered with an aluminum trihydrate/silicone rubber (ATH/SIR) nanocomposite was examined in air at atmospheric pressure and in compressed air at pressures between 0.2 and 0.6 MPa. In the experiments, the most common breakdown path took place along the surface of the covered rod. The insulation reliability after several discharges should be guaranteed in hybrid insulation. On the other hand, the surface of the covered rod was carbonized after several discharges. Therefore, nanoscale ATH can be used as a reinforcement of covered dielectrics to inhibit carbonization on the surface of a covered rod. The results were analyzed in terms of the surface resistivity of the cover dielectrics.

Keywords: nanocomposite, hybrid insulation, ATH, dry-air

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Authors: Fatih Sonmez

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Alzheimer’s disease (AD) is a progressive neurodegenerative disease and it is the most common form of dementia that affects aged people. Acetylcholinesterase is a hydrolase involved in the termination of impulse transmission at cholinergic synapses by rapid hydrolysis of the neurotransmitter ACh in the central and peripheral nervous system. Carvacrol (5-iso-propyl-2-methyl-phenol) is a main bioactive monoterpene isolated from many medicinal herbs, such as Thymus vulgaris, Monarda punctate and Origanum vulgare spp. It is known that carvacrol has been widely used as an active anti-inflammatory ingredient, which can inhibit the isoproterenol induced inflammation in myocardial infarcted rats. In this paper, a series of 12 carvacrol substituted carbamate derivatives (2a-l) was synthesized and their inhibitory activities on AChE and BuChE were evaluated. Among them, 2d exhibited the strongest inhibition against AChE with an IC50 value of 2.22 µM, which was 130-fold more than that of carvacrol (IC50 = 288.26 µM).

Keywords: Acetylcholinesterase, Butyrylcholinesterase, Carbamate, Carvacrol

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Authors: Daniela Stephanie Kuenstle

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Complex industries such as banking or insurance experience slow growth in mobile sales. While today’s mobile applications are sophisticated and enable location based and personalized services, consumers prefer online or even face-to-face services to complete complex transactions. A possible reason for this reluctance is that the provided service within transactional mobile applications (apps) does not adequately correspond to users’ needs. Therefore, this paper examines the impact of the user context on mobile service (m-service) in m-commerce. Motivated by the potential which context-sensitive m-services hold for the future, the impact of temporal variations as a dimension of user context, on m-service design is examined. In particular, the research question asks: Does consumer urgency function as a determinant of m-service composition in transactional apps by moderating the relation between m-service type and m-service success? Thus, the aim is to explore the moderating influence of urgency on m-service types, which includes Technology Mediated Service and Technology Generated Service. While mobile applications generally comprise features of both service types, this thesis discusses whether unexpected urgency changes customer preferences for m-service types and how this consequently impacts the overall m-service success, represented by purchase intention, loyalty intention and service quality. An online experiment with a random sample of N=1311 participants was conducted. Participants were divided into four treatment groups varying in m-service types and urgency level. They were exposed to two different urgency scenarios (high/ low) and two different app versions conveying either technology mediated or technology generated service. Subsequently, participants completed a questionnaire to measure the effectiveness of the manipulation as well as the dependent variables. The research model was tested for direct and moderating effects of m-service type and urgency on m-service success. Three two-way analyses of variance confirmed the significance of main effects, but demonstrated no significant moderation of urgency on m-service types. The analysis of the gathered data did not confirm a moderating effect of urgency between m-service type and service success. Yet, the findings propose an additive effects model with the highest purchase and loyalty intention for Technology Generated Service and high urgency, while Technology Mediated Service and low urgency demonstrate the strongest effect for service quality. The results also indicate an antagonistic relation between service quality and purchase intention depending on the level of urgency. Although a confirmation of the significance of this finding is required, it suggests that only service convenience, as one dimension of mobile service quality, delivers conditional value under high urgency. This suggests a curvilinear pattern of service quality in e-commerce. Overall, the paper illustrates the complex interplay of technology, user variables, and service design. With this, it contributes to a finer-grained understanding of the relation between m-service design and situation dependency. Moreover, the importance of delivering situational value with apps depending on user context is emphasized. Finally, the present study raises the demand to continue researching the impact of situational variables on m-service design in order to develop more sophisticated m-services.

Keywords: mobile consumer behavior, mobile service design, mobile service success, self-service technology, situation dependency, user-context sensitivity

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Authors: Kim Sang Hyuck, Y. Park Sung

Abstract:

The outbreak of national disasters stimulates the decrease of the both internal and domestic tourism demands, causing bad effects on the hospitality industry. The effective and efficient risk management regarding national disasters are being increasingly required from the hospitality industry practitioners and the tourism policymakers. To establish the effective and efficient risk management strategy on national disasters, the most essential prerequisite condition is the correct estimation of national disasters’ effects in terms of the size and duration of the damages occurred from national disaster on hospitality industry. More specifically, the national disasters are twofold: natural disaster and social disaster. In addition, the hospitality industry has consisted of several types of business, such as hotel, restaurant, travel agency, etc. As reasons of the above, it is important to consider how each type of national disasters differently influences on the performance of each type of hospitality industry. Therefore, the purpose of this study is examining the effects of national disaster on hospitality industry in Korea based on the types of national disasters as well as the types of hospitality business. The monthly data was collected from Jan. 2000 to Dec. 2016. The indexes of industrial production for each hospitality industry in Korea were used with the proxy variable for the performance of each hospitality industry. Two national disaster variables (natural disaster and social disaster) were treated as dummy variables. In addition, the exchange rate, industrial production index, and consumer price index were used as control variables in the research model. The impulse response analysis was used to examine the size and duration of the damages occurred from each type of national disaster on each type of hospitality industries. The results of this study show that the natural disaster and the social disaster differently influenced on each type of hospitality industry. More specifically, the performance of airline industry is negatively influenced by the natural disaster at the time of 3 months later from the incidence. However, the negative impacts of social disaster on airline industry occurred not significantly over the time periods. For the hotel industry, both natural disaster and social disaster negatively influence the performance of hotel industry at the time of 5 months and 6 months later, respectively. Also, the negative impact of natural disaster on the performance of restaurant industry occurred at the time of 5 months later, as well as for both 3 months and 6 months later for the social disaster. Finally, both natural disaster and social disaster negatively influence the performance of travel agency at the time of 3 months and 4 months later, respectively. In conclusion, the types of national disasters differently influence the performance of each type of hospitality industry in Korea. These results would provide an important information to establish the effective and efficient risk management strategy for the national disasters.

Keywords: impulse response analysis, Korea, national disaster, performance of hospitality industry

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Authors: Marko Niinimaki

Abstract:

Cryptocurrencies are getting increasingly popular, but very few of them can be conveniently used in daily mobile phone purchases. To solve this problem, we demonstrate how to build a functional prototype of a mobile cryptocurrency-based e-commerce application the communicates with Near-Field Communication (NFC) tags. Using the system, users are able to purchase physical items with an NFC tag that contains an e-commerce URL. The payment is done simply by touching the tag with a mobile device and accepting the payment. Our method is constructive: we describe the design and technologies used in the implementation and evaluate the security and performance of the solution. Our main finding is that the analysis and measurements show that our solution is feasible for e-commerce.

Keywords: cryptocurrency, e-commerce, NFC, mobile devices

Procedia PDF Downloads 158

Authors: Waqar Ahmad Bajwa

Abstract:

In the land market, there are two kinds of government intervention. First one is the control of development and second is the supply of land. In the both intervention Government has a lot of benefits. In development control the government designation of conservation areas and the effects of growth controls which may increase the price of land. On other hand Government also apply charge fee on land. The second type of intervention is to increase the supply of land, either by direct action or indirect action, as in the Pakistan, by obligatory purchase or important domain.

Keywords: supply of control, control of development, charge fee, land control

Procedia PDF Downloads 245

Authors: Farbod Rohani, Elyar Ghafoori, Matin Saeedkondori

Abstract:

Impulse noise is electromagnetic emission which generated by many house hold appliances that are attached to the electrical network. The main difficulty of impulsive noise (IN) elimination process from communication channels is to distinguish it from the transmitted signal and more importantly choosing the proper threshold bandwidth in order to eliminate the signal. Because of wide band property of impulsive noise, we present a novel method for setting the detection threshold, by taking advantage of the fact that impulsive noise bandwidth is usually wider than that of typical communication channels and specifically OFDM channel. After IN detection procedure, we apply simple windowing mechanisms to eliminate them from the communication channel.

Keywords: impulsive noise, OFDM channel, threshold detecting, windowing mechanisms

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Authors: Chechen Liao, Yi-Jen Huang, Yu-Ting Lu

Abstract:

This study explores and complements digital aspects. In this study, we construct a research model based on the theory of reasoned action and extend it with the advantages and disadvantages of intangibility (convenience, perceived risk), some characteristics of digital products (price, variety, trialability), and factors related to entertainment (perceived playfulness) to predict what consumers really consider when they buy digital music. Eight hypotheses were tested and supported. Finally, we prove that the theory of reasoned action is still valid in the field of digital products.

Keywords: digital music, digital product, theory of reasoned action

Procedia PDF Downloads 413