Search results for: product returns
3787 New Environmental Culture in Algeria: Eco Design
Authors: S. Tireche, A. Tairi abdelaziz
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Environmental damage has increased steadily in recent decades: Depletion of natural resources, destruction of the ozone layer, greenhouse effect, degradation of the quality of life, land use etc. New terms have emerged as: "Prevention rather than cure" or "polluter pays" falls within the principles of common sense, their practical implementation still remains fragmented. Among the avenues to be explored, one of the most promising is certainly one that focuses on product design. Indeed, where better than during the design phase, can reduce the source of future impacts on the environment? What choices or those of design, they influence more on the environmental characteristics of products? The most currently recognized at the international level is the analysis of the life cycle (LCA) and Life Cycle Assessment, subject to International Standardization (ISO 14040-14043). LCA provides scientific and objective assessment of potential impacts of the product or service, considering its entire life cycle. This approach makes it possible to minimize impacts to the source in pollution prevention. It is widely preferable to curative approach, currently majority in the industrial crops, led mostly by a report of pollution. The "product" is to reduce the environmental impacts of a given product, taking into account all or part of its life cycle. Currently, there are emerging tools, known as eco-design. They are intended to establish an environmental profile of the product to improve its environmental performance. They require a quantity sufficient information on the product for each phase of its life cycle: raw material extraction, manufacturing, distribution, usage, end of life (recycling or incineration or deposit) and all stages of transport. The assessment results indicate the sensitive points of the product studied, points on which the developer must act.Keywords: eco design, impact, life cycle analysis (LCA), sustainability
Procedia PDF Downloads 4173786 Performance, Scalability and Reliability Engineering: Shift Left and Shift Right Approach
Authors: Jyothirmayee Pola
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Ideally, a test-driven development (TDD) or agile or any other process should be able to define and implement performance, scalability, and reliability (PSR) of the product with a higher quality of service (QOS) and should have the ability to fix any PSR issues with lesser cost before it hits the production. Most PSR test strategies for new product introduction (NPI) include assumptions about production load requirements but never accurate. NPE (New product Enhancement) include assumptions for new features that are being developed whilst workload distribution for older features can be derived by analyzing production transactions. This paper talks about how to shift left PSR towards design phase of release management process to get better QOS w.r.t PSR for any product under development. It also explains the ROI for future customer onboarding both for Service Oriented Architectures (SOA) and Microservices architectures and how to define PSR requirements.Keywords: component PSR, performance engineering, performance tuning, reliability, return on investment, scalability, system PSR
Procedia PDF Downloads 653785 Using the Simple Fixed Rate Approach to Solve Economic Lot Scheduling Problem under the Basic Period Approach
Authors: Yu-Jen Chang, Yun Chen, Hei-Lam Wong
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The Economic Lot Scheduling Problem (ELSP) is a valuable mathematical model that can support decision-makers to make scheduling decisions. The basic period approach is effective for solving the ELSP. The assumption for applying the basic period approach is that a product must use its maximum production rate to be produced. However, a product can lower its production rate to reduce the average total cost when a facility has extra idle time. The past researches discussed how a product adjusts its production rate under the common cycle approach. To the best of our knowledge, no studies have addressed how a product lowers its production rate under the basic period approach. This research is the first paper to discuss this topic. The research develops a simple fixed rate approach that adjusts the production rate of a product under the basic period approach to solve the ELSP. Our numerical example shows our approach can find a better solution than the traditional basic period approach. Our mathematical model that applies the fixed rate approach under the basic period approach can serve as a reference for other related researches.Keywords: economic lot, basic period, genetic algorithm, fixed rate
Procedia PDF Downloads 5563784 Effects of Non-Diagnostic Haptic Information on Consumers' Product Judgments and Decisions
Authors: Eun Young Park, Jongwon Park
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A physical touch of a product can provide ample diagnostic information about the product attributes and quality. However, consumers’ product judgments and purchases can be erroneously influenced by non-diagnostic haptic information. For example, consumers’ evaluations of the coffee they drink could be affected by the heaviness of a cup that is used for just serving the coffee. This important issue has received little attention in prior research. The present research contributes to the literature by identifying when and how non-diagnostic haptic information can have an influence and why such influence occurs. Specifically, five studies experimentally varied the content of non-diagnostic haptic information, such as the weight of a cup (heavy vs. light) and the texture of a cup holder (smooth vs. rough), and then assessed the impact of the manipulation on product judgments and decisions. Results show that non-diagnostic haptic information has a biasing impact on consumer judgments. For example, the heavy (vs. light) cup increases consumers’ perception of the richness of coffee in it, and the rough (vs. smooth) texture of a cup holder increases the perception of the healthfulness of fruit juice in it, which in turn increases consumers’ purchase intentions of the product. When consumers are cognitively distracted during the touch experience, the impact of the content of haptic information is no longer evident, but the valence (positive vs. negative) of the haptic experience influences product judgments. However, consumers are able to avoid the impact of non-diagnostic haptic information, if and only if they are both knowledgeable about the product category and undistracted from processing the touch experience. In sum, the nature of the influence by non-diagnostic haptic information (i.e., assimilation effect vs. contrast effect vs. null effect) is determined by the content and valence of haptic information, the relative impact of which depends on whether consumers can identify the content and source of the haptic information. Theoretically, to our best knowledge, this research is the first to document the empirical evidence of the interplay between cognitive and affective processes that determines the impact of non-diagnostic haptic information. Managerial implications are discussed.Keywords: consumer behavior, haptic information, product judgments, touch effect
Procedia PDF Downloads 1643783 Recommender Systems Using Ensemble Techniques
Authors: Yeonjeong Lee, Kyoung-jae Kim, Youngtae Kim
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This study proposes a novel recommender system that uses data mining and multi-model ensemble techniques to enhance the recommendation performance through reflecting the precise user’s preference. The proposed model consists of two steps. In the first step, this study uses logistic regression, decision trees, and artificial neural networks to predict customers who have high likelihood to purchase products in each product group. Then, this study combines the results of each predictor using the multi-model ensemble techniques such as bagging and bumping. In the second step, this study uses the market basket analysis to extract association rules for co-purchased products. Finally, the system selects customers who have high likelihood to purchase products in each product group and recommends proper products from same or different product groups to them through above two steps. We test the usability of the proposed system by using prototype and real-world transaction and profile data. In addition, we survey about user satisfaction for the recommended product list from the proposed system and the randomly selected product lists. The results also show that the proposed system may be useful in real-world online shopping store.Keywords: product recommender system, ensemble technique, association rules, decision tree, artificial neural networks
Procedia PDF Downloads 2853782 Product Placement and Advertising in Chinese Internet Dramas
Authors: Patricia Portugal Marques de Carvalho Lourenco
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This paper presents the richness of product placement usage in Chinese IP dramas. It shows the artistry of storytellers in craftily intertwining the drama’s storyline with the items promoted, resulting in a flawless Chinese tapestry that perfectly blends internet visual entertainment with advertising, significantly enhancing the production’s worth. Successful IQIYI drama We are all alone, is a flawless example of that, attracting collaborative interest from products and brands across a spectrum of market segments, motivated to showcase their utility, value, benefits, and appeal to viewers.Keywords: product placement, band-aid ads, post ads, barrage advertising, China, internet drama series, Latin Europe
Procedia PDF Downloads 783781 The Effects of Anthropomorphism on Complex Technological Innovations
Authors: Chyi Jaw
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Many companies have suffered as a result of consumers’ rejection of complex new products and experienced huge losses in the market. Marketers have to understand what block from new technology adoption or positive product attitude may exist in the market. This research examines the effects of techno-complexity and anthropomorphism on consumer psychology and product attitude when new technologies are introduced to the market. This study conducted a pretest and a 2 x 2 between-subjects experiment. Four simulated experimental web pages were constructed to collect data. The empirical analysis tested the moderation-mediation relationships among techno-complexity, technology anxiety, ability, and product attitude. These empirical results indicate (1) Techno-complexity of an innovation is negatively related to consumers’ product attitude, as well as increases consumers’ technology anxiety and reduces their self-ability perception. (2) Consumers’ technology anxiety and ability perception towards an innovation completely mediate the relationship between techno-complexity and product attitude. (3) Product anthropomorphism is positively related to consumers’ attitude of new technology, and also significantly moderates the effect of techno-complexity in the hypothesized model. In this work, the study presents the moderation-mediation model and the effects of anthropomorphized strategy, which describes how managers can better predict and influence the diffusion of complex technological innovations.Keywords: ability, anthropomorphic effect, innovation, techno-complexity, technology anxiety
Procedia PDF Downloads 1873780 Antecedent and Outcome of New Product Development in Leather Industry, Bangkok and Vicinity, Thailand
Authors: Bundit Pungnirund
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The purposes of this research were to develop and to monitor the antecedent factors which directly affected the success rate of new product development. This was a case study of the leather industry in Bangkok, Thailand. A total of 350 leather factories were used as a sample group. The findings revealed that the new product development model was harmonized with the empirical data at the acceptable level, the statistic values are: x^2=6.45, df= 7, p-value = .48856; RMSEA = .000; RMR = .0029; AGFI = .98; GFI = 1.00. The independent variable that directly influenced the dependent variable at the highest level was marketing outcome which had a influence coefficient at 0.32 and the independent variables that indirectly influenced the dependent variables at the highest level was a clear organization policy which had a influence coefficient at 0.17, whereas, all independent variables can predict the model at 48 percent.Keywords: antecedent, new product development, leather industry, Thailand
Procedia PDF Downloads 2943779 Preventative Maintenance, Impact on the Optimal Replacement Strategy of Secondhand Products
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
Procedia PDF Downloads 4703778 Design of a Dietetic Food: Case of Lebanese Kishk
Authors: Henri El Zakhem, Dona Shalhoub, Elias Atallah, Jessica Koura
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Due to the increase of demand on dietetic food and the need for more types of diet food, the production of dietetic food is increasing and improving. This demand on dietetic food has triggered us to study the market in which we found that Kishk (Lebanese dairy product) diet is not available. Production of a low fat product which is diet Kishk was our concern. A strategy was followed to choose the right idea that will satisfy the need of the market. The whole process was studied and explained thoroughly. The percentage of fat was found to be 32.52 % in regular Kishk and 3.84 % in the diet Kishk produced. The new product has the advantage to be high in protein, low in fat.Keywords: design and industrialization, dietetic, diet Kishk, fat
Procedia PDF Downloads 3673777 Modelling Volatility of Cryptocurrencies: Evidence from GARCH Family of Models with Skewed Error Innovation Distributions
Authors: Timothy Kayode Samson, Adedoyin Isola Lawal
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The past five years have shown a sharp increase in public interest in the crypto market, with its market capitalization growing from $100 billion in June 2017 to $2158.42 billion on April 5, 2022. Despite the outrageous nature of the volatility of cryptocurrencies, the use of skewed error innovation distributions in modelling the volatility behaviour of these digital currencies has not been given much research attention. Hence, this study models the volatility of 5 largest cryptocurrencies by market capitalization (Bitcoin, Ethereum, Tether, Binance coin, and USD Coin) using four variants of GARCH models (GJR-GARCH, sGARCH, EGARCH, and APARCH) estimated using three skewed error innovation distributions (skewed normal, skewed student- t and skewed generalized error innovation distributions). Daily closing prices of these currencies were obtained from Yahoo Finance website. Finding reveals that the Binance coin reported higher mean returns compared to other digital currencies, while the skewness indicates that the Binance coin, Tether, and USD coin increased more than they decreased in values within the period of study. For both Bitcoin and Ethereum, negative skewness was obtained, meaning that within the period of study, the returns of these currencies decreased more than they increased in value. Returns from these cryptocurrencies were found to be stationary but not normality distributed with evidence of the ARCH effect. The skewness parameters in all best forecasting models were all significant (p<.05), justifying of use of skewed error innovation distributions with a fatter tail than normal, Student-t, and generalized error innovation distributions. For Binance coin, EGARCH-sstd outperformed other volatility models, while for Bitcoin, Ethereum, Tether, and USD coin, the best forecasting models were EGARCH-sstd, APARCH-sstd, EGARCH-sged, and GJR-GARCH-sstd, respectively. This suggests the superiority of skewed Student t- distribution and skewed generalized error distribution over the skewed normal distribution.Keywords: skewed generalized error distribution, skewed normal distribution, skewed student t- distribution, APARCH, EGARCH, sGARCH, GJR-GARCH
Procedia PDF Downloads 1013776 Yoghurt Kepel Stelechocarpus burahol as an Effort of Functional Food Diversification from Region of Yogyakarta
Authors: Dian Nur Amalia, Rifqi Dhiemas Aji, Tri Septa Wahyuningsih, Endang Wahyuni
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Kepel fruit (Stelechocarpus burahol) is a scarce fruit that belongs as a logogram of Daerah Istimewa Yogyakarta. Kepel fruit can be used as substance of beauty treatment product, such as deodorant and good for skin health, and also contains antioxidant compound. Otherwise, this fruit is scarcely cultivated by people because of its image as a palace fruit and also the flesh percentage just a little, so it has low economic value. The flesh of kepel fruit is about 49% of its whole fruit. This little part as supporting point why kepel fruit has to be extracted and processed with the other product. Yoghurt is milk processing product that also have a role as functional food. Economically, the price of yoghurt is higher than whole milk or other milk processing product. Yoghurt is usually added with flavor of dye from plant or from chemical substance. Kepel fruit has a role as flavor in yoghurt, besides as product that good for digestion, yoghurt with kepel also has function as “beauty” food. Writing method that used is literature study by looking for the potential of kepel fruit as a local fruit of Yogyakarta and yoghurt as milk processing product. The process just like making common yoghurt because kepel fruit just have a role as flavor substance, so it does not affect to the other processing of yoghurt. Food diversification can be done as an effort to increase the value of local resources that proper to compete in Asean Economic Community (AEC), one of the way is producing kepel yoghurt.Keywords: kepel, yoghurt, Daerah Istimewa Yogyakarta, functional food
Procedia PDF Downloads 3123775 Associated Map and Inter-Purchase Time Model for Multiple-Category Products
Authors: Ching-I Chen
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The continued rise of e-commerce is the main driver of the rapid growth of global online purchase. Consumers can nearly buy everything they want at one occasion through online shopping. The purchase behavior models which focus on single product category are insufficient to describe online shopping behavior. Therefore, analysis of multi-category purchase gets more and more popular. For example, market basket analysis explores customers’ buying tendency of the association between product categories. The information derived from market basket analysis facilitates to make cross-selling strategies and product recommendation system. To detect the association between different product categories, we use the market basket analysis with the multidimensional scaling technique to build an associated map which describes how likely multiple product categories are bought at the same time. Besides, we also build an inter-purchase time model for associated products to describe how likely a product will be bought after its associated product is bought. We classify inter-purchase time behaviors of multi-category products into nine types, and use a mixture regression model to integrate those behaviors under our assumptions of purchase sequences. Our sample data is from comScore which provides a panelist-label database that captures detailed browsing and buying behavior of internet users across the United States. Finding the inter-purchase time from books to movie is shorter than the inter-purchase time from movies to books. According to the model analysis and empirical results, this research finally proposes the applications and recommendations in the management.Keywords: multiple-category purchase behavior, inter-purchase time, market basket analysis, e-commerce
Procedia PDF Downloads 3623774 Brand Creation for Community Product: A Case Study at Samut Songkram, Thailand
Authors: Cholpassorn Sitthiwarongchai
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The purposes of this paper were to search for the uniqueness of community products from Bang Khonthi District, Samut Songkram Province, Thailand and to create a proper brand for the community products. Four important questions were asked to identify the uniqueness of the community products. The first question: What is the brand of coconut sugar that community wants to imply? The answer was 100 percent authentic coconut sugar. The second question: What is the nature of this product? The answer was that it is a natural product without any harmful chemical. The third question is: Who are the target customers? The answer was that homemakers and tourists are target customers. The fourth question: What is the brand guarantee to customers? The answer was that the brand guarantees that the product is 100 percent natural process with a high quality and it is a community production. The findings revealed that in terms of product, customers rated quality and package as the two most important factors. In terms of price, customers rated lower price and a visible label as the two most important factors. In terms of place, customer rated layout and the cleanliness of the place as the two most important factors. In terms of promotion, customer rated public relations and brochure at the store as the most important factors. From the group discussion, the local community agreed that the brand for the community coconut sugar of Salapi community should be a picture of a green coconut tree and yellow color background. This brand implies the strength of community and authentic of the high quality natural product.Keywords: coconut sugar, community brand, Samut Songkram, natural product
Procedia PDF Downloads 3893773 A Gap Analysis of Attitude Towards Sustainable Sportswear Product Development between Consumers and Suppliers
Authors: Y. N. Fung, R. Liu, T. M. Choi
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Over the past decades, previous studies have explored different consumers’ attitudes towards sustainable fashion and how these attitudes affect consumer behaviors. Researchers have attempted to provide solutions for product suppliers (e.g., retailers, designers, developers, and manufacturers) through studying consumers’ attitudes towards sustainable fashion. However, based on the studies of consumer attitudes, investigations on the sales and market share of sustainable sportswear products remain under-explored. Gaps may exist between the consumers’ expectations and the developed sustainable sportswear products. In this study, a novel study has been carried out to examine the attitude gaps existing between the sustainable sportswear suppliers’ (SSSs) and the sustainable sportswear consumers (SSCs). This study firstly identifies the key attitudes towards sustainable sportswear product development. It analyses how sustainable attitudes affect the products being developed, as well as the effects of the attitude’s difference between the SSSs and the SSCs on the consumers’ satisfaction towards sportswear product consumption. A gap analysis research framework is adopted with the use of collected questionnaire survey data. The results indicate that a significant difference exists between SSSs and SSCs’ attitudes towards sustainable design, manufacture, product features, and branding. Based on in-depth interviews, the major causes of the difference in attitudes are studied to provide managerial insights for sustainable sportswear product management and business development.Keywords: sustainability, sportswear, attitude, gap analysis, suppliers, consumers
Procedia PDF Downloads 1053772 Distribution of Maximum Loss of Fractional Brownian Motion with Drift
Authors: Ceren Vardar Acar, Mine Caglar
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In finance, the price of a volatile asset can be modeled using fractional Brownian motion (fBm) with Hurst parameter H>1/2. The Black-Scholes model for the values of returns of an asset using fBm is given as, 〖Y_t=Y_0 e^((r+μ)t+σB)〗_t^H, 0≤t≤T where Y_0 is the initial value, r is constant interest rate, μ is constant drift and σ is constant diffusion coefficient of fBm, which is denoted by B_t^H where t≥0. Black-Scholes model can be constructed with some Markov processes such as Brownian motion. The advantage of modeling with fBm to Markov processes is its capability of exposing the dependence between returns. The real life data for a volatile asset display long-range dependence property. For this reason, using fBm is a more realistic model compared to Markov processes. Investors would be interested in any kind of information on the risk in order to manage it or hedge it. The maximum possible loss is one way to measure highest possible risk. Therefore, it is an important variable for investors. In our study, we give some theoretical bounds on the distribution of maximum possible loss of fBm. We provide both asymptotical and strong estimates for the tail probability of maximum loss of standard fBm and fBm with drift and diffusion coefficients. In the investment point of view, these results explain, how large values of possible loss behave and its bounds.Keywords: maximum drawdown, maximum loss, fractional brownian motion, large deviation, Gaussian process
Procedia PDF Downloads 4803771 Design On Demand (DoD): Spiral Model of The Lifecycle of Products in The Personal 3D-Printed Products' Market
Authors: Zuk Nechemia Turbovich
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This paper introduces DoD, a contextual spiral model that describes the lifecycle of products intended for manufacturing using Personal 3D Printers (P3DP). The study is based on a review of the desktop P3DPs market that shows that the combination of digital connectivity, coupled with the potential ownership of P3DP by home users, is radically changing the form of the product lifecycle, comparatively to familiar lifecycle paradigms. The paper presents the change in the design process, considering the characterization of product types in the P3DP market and the possibility of having a direct dialogue between end-user and product designers. The model, as an updated paradigm, provides a strategic perspective on product design and tools for success, understanding that design is subject to rapid and continuous improvement and that products are subject to repair, update, and customization. The paper will include a review of real cases.Keywords: lifecycle, mass-customization, personal 3d-printing, user involvement
Procedia PDF Downloads 1743770 Multi-Point Dieless Forming Product Defect Reduction Using Reliability-Based Robust Process Optimization
Authors: Misganaw Abebe Baye, Ji-Woo Park, Beom-Soo Kang
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The product quality of multi-point dieless forming (MDF) is identified to be dependent on the process parameters. Moreover, a certain variation of friction and material properties may have a substantially worse influence on the final product quality. This study proposed on how to compensate the MDF product defects by minimizing the sensitivity of noise parameter variations. This can be attained by reliability-based robust optimization (RRO) technique to obtain the optimal process setting of the controllable parameters. Initially two MDF Finite Element (FE) simulations of AA3003-H14 saddle shape showed a substantial amount of dimpling, wrinkling, and shape error. FE analyses are consequently applied on ABAQUS commercial software to obtain the correlation between the control process setting and noise variation with regard to the product defects. The best prediction models are chosen from the family of metamodels to swap the computational expensive FE simulation. Genetic algorithm (GA) is applied to determine the optimal process settings of the control parameters. Monte Carlo Analysis (MCA) is executed to determine how the noise parameter variation affects the final product quality. Finally, the RRO FE simulation and the experimental result show that the amendment of the control parameters in the final forming process leads to a considerably better-quality product.Keywords: dimpling, multi-point dieless forming, reliability-based robust optimization, shape error, variation, wrinkling
Procedia PDF Downloads 2423769 A Study of Families of Bistar and Corona Product of Graph: Reverse Topological Indices
Authors: Gowtham Kalkere Jayanna, Mohamad Nazri Husin
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Graph theory, chemistry, and technology are all combined in cheminformatics. The structure and physiochemical properties of organic substances are linked using some useful graph invariants and the corresponding molecular graph. In this paper, we study specific reverse topological indices such as the reverse sum-connectivity index, the reverse Zagreb index, the reverse arithmetic-geometric, and the geometric-arithmetic, the reverse Sombor, the reverse Nirmala indices for the bistar graphs B (n: m) and the corona product Kₘ∘Kₙ', where Kₙ' Represent the complement of a complete graph Kₙ.Keywords: reverse topological indices, bistar graph, the corona product, graph
Procedia PDF Downloads 893768 The Influences of Marketplace Knowledge, General Product Class Knowledge, and Knowledge in Meat Product with Traceability on Trust in Meat Traceability
Authors: Kawpong Polyorat
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Since the outbreak of mad cow disease and bird flu, consumers have become more concerned with meat quality and safety. As a result, meat traceability is adopted as one approach to handle consumers’ concern in this issue. Nevertheless, in Thailand, meat traceability is rarely used as a marketing tool to persuade consumers. As a consequence, the present study attempts to understand consumer trust in the meat traceability system by conducting a study in this country to examine the impact of three types of consumer knowledge on this trust. The study results reveal that out of three types of consumer knowledge, marketplace knowledge was the sole predictor of consumer trust in meat traceability and it has a positive influence. General product class knowledge and knowledge in meat products with traceability, however, did not significantly influence consumer trust. The research results provide several implications and directions for future study.Keywords: consumer knowledge, marketing, product knowledge, traceability
Procedia PDF Downloads 3173767 Terroir Products at the Service Territorial Marketing: Case of the Promotion of Souss Massa Region Using Argan Oil
Authors: Assia Sadki, Soumiya Mekkaoui, Abdellatif Ait Heda
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Territorial marketing is a crucial element in the improvement of the attractiveness and competitiveness of a region, city or country. It is important to identify the different tools that distinguish the area from the other places and use them in order to achieve territorial marketing objectives. This paper tries to present the assets of Argan oil, the endemic terroir product, in the development of the tourism sector in Souss Massa. Starting from the Argan tree forests to the final use of the oil, every stage of the process can be developed as a tourism product in order to make the region more appealing to tourists.Keywords: territorial marketing, terroir product, rural tourism, ecotourism, Argan oil
Procedia PDF Downloads 873766 An Empirical Analysis of the Effects of Corporate Derivatives Use on the Underlying Stock Price Exposure: South African Evidence
Authors: Edson Vengesai
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Derivative products have become essential instruments in portfolio diversification, price discovery, and, most importantly, risk hedging. Derivatives are complex instruments; their valuation, volatility implications, and real impact on the underlying assets' behaviour are not well understood. Little is documented empirically, with conflicting conclusions on how these instruments affect firm risk exposures. Given the growing interest in using derivatives in risk management and portfolio engineering, this study examines the practical impact of derivative usage on the underlying stock price exposure and systematic risk. The paper uses data from South African listed firms. The study employs GARCH models to understand the effect of derivative uses on conditional stock volatility. The GMM models are used to estimate the effect of derivatives use on stocks' systematic risk as measured by Beta and on the total risk of stocks as measured by the standard deviation of returns. The results provide evidence on whether derivatives use is instrumental in reducing stock returns' systematic and total risk. The results are subjected to numerous controls for robustness, including financial leverage, firm size, growth opportunities, and macroeconomic effects.Keywords: derivatives use, hedging, volatility, stock price exposure
Procedia PDF Downloads 1033765 A Framework of Product Information Service System Using Mobile Image Retrieval and Text Mining Techniques
Authors: Mei-Yi Wu, Shang-Ming Huang
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The online shoppers nowadays often search the product information on the Internet using some keywords of products. To use this kind of information searching model, shoppers should have a preliminary understanding about their interesting products and choose the correct keywords. However, if the products are first contact (for example, the worn clothes or backpack of passengers which you do not have any idea about the brands), these products cannot be retrieved due to insufficient information. In this paper, we discuss and study the applications in E-commerce using image retrieval and text mining techniques. We design a reasonable E-commerce application system containing three layers in the architecture to provide users product information. The system can automatically search and retrieval similar images and corresponding web pages on Internet according to the target pictures which taken by users. Then text mining techniques are applied to extract important keywords from these retrieval web pages and search the prices on different online shopping stores with these keywords using a web crawler. Finally, the users can obtain the product information including photos and prices of their favorite products. The experiments shows the efficiency of proposed system.Keywords: mobile image retrieval, text mining, product information service system, online marketing
Procedia PDF Downloads 3523764 An Assessment of Potentials, Challenges, and Opportunities of Ethiopian Cultural Centers for Tourism Product Development
Authors: Berie Abebe Getahun
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The tourism sector has been identified by the Ethiopian government as one of the priority economic sectors and planned to make Ethiopia among the top five African destinations by 2020. It is obvious international tourism demand for Ethiopia lags behind other African countries like South Africa, Egypt, Morocco, Tanzania, and Kenya. Meanwhile, the number of international tourists’ arrival to Ethiopia increases continuously. The main purpose of this study was to find out potentials, challenges, and opportunities of Ethiopian Cultural Center for tourism product development. Therefore, an attempt has been made to identify potentials over which tourism product development can be enhanced, and opportunities that promote tourism product development in Ethiopia. To achieve this objective, data have been collected by using observation, interview and focus group discussion with selected informants working the ministry of tourism and culture. The collected data has been analyzed by transcribing materials, and by using thematic analysis method based on the research objective. Likewise, the analyzed data has been discussed in the context of prevailing literature. As revealed in finding, Ethiopian cultural center has untapped potential for tourism product development that includes: meetings, incentives, conferences, events, availability of concerned stakeholders and demand of visitors. On the other hand, lack of awareness about tourism product development, financial constraints, skilled manpower, absence of tour guiding service and interpretation of heritages have been identified as the major challenges that hindering tourism product development in the cultural center. Moreover, the growth of domestic tourism, distinctive presence and rich culture of Ethiopia, and policy of Ethiopia that promotes the growth and preservation of indigenous cultures are deemed important opportunities for tourism product development in the country. And lastly, conducting a research based on tourism product development, reviewing the existing marketing and promotion strategies, training manpower, working harmoniously with the concerned stakeholders, and a careful examination of opportunities present in order to best utilize resources were implications drawn for future intervention.Keywords: challenges and opportunities of tourism, Ethiopian tourism potential, tourism product, tourism product development
Procedia PDF Downloads 1513763 Adding Business Value in Enterprise Applications through Quality Matrices Using Agile
Authors: Afshan Saad, Muhammad Saad, Shah Muhammad Emaduddin
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Nowadays the business condition is so quick paced that enhancing ourselves consistently has turned into a huge factor for the presence of an undertaking. We can check this for structural building and significantly more so in the quick-paced universe of data innovation and programming designing. The lithe philosophies, similar to Scrum, have a devoted advance in the process that objectives the enhancement of the improvement procedure and programming items. Pivotal to process enhancement is to pick up data that grants you to assess the condition of the procedure and its items. From the status data, you can design activities for the upgrade and furthermore assess the accomplishment of those activities. This investigation builds a model that measures the product nature of the improvement procedure. The product quality is dependent on the useful and auxiliary nature of the product items, besides the nature of the advancement procedure is likewise vital to enhance programming quality. Utilitarian quality covers the adherence to client prerequisites, while the auxiliary quality tends to the structure of the product item's source code with reference to its practicality. The procedure quality is identified with the consistency and expectedness of the improvement procedure. The product quality model is connected in a business setting by social occasion the information for the product measurements in the model. To assess the product quality model, we investigate the information and present it to the general population engaged with the light-footed programming improvement process. The outcomes from the application and the client input recommend that the model empowers a reasonable evaluation of the product quality and that it very well may be utilized to help the persistent enhancement of the advancement procedure and programming items.Keywords: Agile SDLC Tools, Agile Software development, business value, enterprise applications, IBM, IBM Rational Team Concert, RTC, software quality, software metrics
Procedia PDF Downloads 1673762 Extreme Value Modelling of Ghana Stock Exchange Indices
Authors: Kwabena Asare, Ezekiel N. N. Nortey, Felix O. Mettle
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Modelling of extreme events has always been of interest in fields such as hydrology and meteorology. However, after the recent global financial crises, appropriate models for modelling of such rare events leading to these crises have become quite essential in the finance and risk management fields. This paper models the extreme values of the Ghana Stock Exchange All-Shares indices (2000-2010) by applying the Extreme Value Theory to fit a model to the tails of the daily stock returns data. A conditional approach of the EVT was preferred and hence an ARMA-GARCH model was fitted to the data to correct for the effects of autocorrelation and conditional heteroscedastic terms present in the returns series, before EVT method was applied. The Peak Over Threshold (POT) approach of the EVT, which fits a Generalized Pareto Distribution (GPD) model to excesses above a certain selected threshold, was employed. Maximum likelihood estimates of the model parameters were obtained and the model’s goodness of fit was assessed graphically using Q-Q, P-P and density plots. The findings indicate that the GPD provides an adequate fit to the data of excesses. The size of the extreme daily Ghanaian stock market movements were then computed using the Value at Risk (VaR) and Expected Shortfall (ES) risk measures at some high quantiles, based on the fitted GPD model.Keywords: extreme value theory, expected shortfall, generalized pareto distribution, peak over threshold, value at risk
Procedia PDF Downloads 5473761 Interactive Effects of Organizational Learning and Market Orientation on New Product Performance
Authors: Qura-tul-aain Khair
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Purpose- The purpose of this paper is to empirically examining the strength of association of responsive market orientation and proactive market orientation with new product performance and exploring the possible moderating role of organizational learning based on contingency theory. Design/methodology/approach- Data for this study was collected from FMCG manufacturing industry and services industry, where customers are in contact frequently and responses are recorded on continuous basis. Sample was collected through convenience sampling. The data collected from different marketing department and sales personnel were analysed using SPSS 16 version. Findings- The paper finds that responsive market orientation is more strongly associated with new product performance. The moderator, organizational learning, plays it significant role on the relationship between responsive market orientation and new product performance. Research limitations/implications- this paper has taken sample from just FMCG industry and service industry, more work can be done regarding how different-markets require different market orientation behaviours. Originality/value- This paper will be useful for foreign business looking for investing and expanding in Pakistan, they can find opportunity to get sustained competitive advantage through exploring the proactive side of market orientation and importance of organizational learning.Keywords: organizational learning, proactive market orientation, responsive market orientation, new product performance
Procedia PDF Downloads 3733760 Brand Tips of Thai Halal Products
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
Procedia PDF Downloads 3773759 Effect of Extrusion Parameters on the Rheological Properties of Ready-To-Eat Extrudates Developed from De-Oiled Rice Bran
Authors: Renu Sharma, D. C. Saxena, Tanuja Srivastava
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Mechanical properties of ready-to-eat extrudates are perceived by the consumers as one of the quality criteria. Texture quality of any product has a strong influence on the sensory evaluation as well as on the acceptability of the product. The main texture characteristics influencing the product acceptability are crispness, elasticity, hardness and softness. In the present work, the authors investigated one of the most important textural characteristics of extrudates i.e. hardness. A five-level, four-factor central composite rotatable design was employed to investigate the effect of temperature, screw speed, feed moisture content and feed composition mainly rice bran content and their interactions, on the mechanical hardness of extrudates. Among these, feed moisture was found to be a prominent factor affecting the product hardness. It was found that with the increase of feed moisture content, the rice bran proportion leads to increase in hardness of extrudates whereas the increase of temperature leads to decrease of hardness of product. A good agreement between the predicted (26.49 N) and actual value (28.73N) of the response confirms the validation of response surface methodology (RSM)-model.Keywords: deoiled rice bran, extrusion, rheological properties, RSM
Procedia PDF Downloads 3703758 Optimal Decisions for Personalized Products with Demand Information Updating and Limited Capacity
Authors: Meimei Zheng
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Product personalization could not only bring new profits to companies but also provide the direction of long-term development for companies. However, the characteristics of personalized product cause some new problems. This paper investigates how companies make decisions on the supply of personalized products when facing different customer attitudes to personalized product and service, constraints due to limited capacity and updates of personalized demand information. This study will provide optimal decisions for companies to develop personalized markets, resulting in promoting business transformation and improving business competitiveness.Keywords: demand forecast updating, limited capacity, personalized products, optimization
Procedia PDF Downloads 253