Search results

Across disciplines, researchers and practitioners employ decision tree ensembles such as random forests and XGBoost with great success. What explains their popularity? This chapter showcases how marketing scholars and decision-makers can harness the power of decision tree ensembles for academic and practical applications. The author discusses the origin of decision tree ensembles, explains their theoretical underpinnings, and illustrates them empirically using a real-world telemarketing case, with the objective of predicting customer conversions. Readers unfamiliar with decision tree ensembles will learn to appreciate them for their versatility, competitive accuracy, ease of application, and computational efficiency and will gain a comprehensive understanding why decision tree ensembles contribute to every data scientist's methodological toolbox.

Research on cross cultural differences in preference for variety is scarce. Such research is important because it addresses a marketing instrument for which substantial cultural variations are to be expected. This paper attempts to highlight relevant literature of the domains of cultural psychology as well as marketing psychology with a review to stimulate research. Furthermore, the objective of this paper is to point out specific research directions.

First, theories on variety perception and variety seeking are discussed in order to highlight consumers' benefits of variety. Second, theories of behavioral decision making are reflected and consumers' costs of variety are illuminated. Third, theories and results of cultural psychology are reviewed with regard to underlying psychological processes about consumers' reactions to variety.

This paper stresses several aspects. Initially, consumers' perceptions of variety differ from the actual variety provided by a manufacturer or retailer. Literature indicates that consumers' benefits and costs of perceived variety differ systematically across cultures. Independent consumers in individualistic cultures place a premium on choice, on variety seeking and on personal freedom. While they are attracted by large variety, current cultural theory suggests that they also encounter greater cognitive and emotional costs than individuals in collectivistic cultures when ultimately choosing.

This paper introduces a new and promising area of research and highlights relevant psychological as well as cultural psychological theories. Several research directions regarding customer reactions to variety are detailed.

This study aims to show that brand success can be improved if the brand promise that is communicated through mass media campaigns is lived up to by each employee of a company. The paper terms such brand consistent employee behaviour behavioural branding and identifies managerial instruments for its implementation and management.

The model in the paper explains the brand's contribution to company success by brand consistent employee behaviour, functional employee performance and brand congruent mass media communication. Brand consistent employee behaviour and functional employee performance in turn are modelled as determined by formal and informal management techniques as well as employee empowerment. The model is tested on a sample of 167 senior managers using partial least squares and finds empirical support. Furthermore, practical implications are provided based on additional top management focus groups.

The paper finds that behavioural branding determines the brand's contribution to company success. Further, the results show that informal management and employee empowerment have a far stronger impact on the brand consistency of employee behaviour than formal management instruments.

Managers should spend more time explaining and discussing targets of behavioural branding, and they should create an organisational environment that enables employees to find their own individual ways of articulating a brand to customers.

The framework in the paper integrates personal and non‐personal facets of interaction for a holistic explanation of brand performance. It provides a broader understanding of factors affecting the accruement of a customer's brand experience and enables researchers and practitioners to develop more consistent and promising brand management activities.

This chapter considers the role and features of co-location and coopetition in the framework of slow (city) tourism using the city of Rovaniemi as a case study example. Rovaniemi, as a tourism destination, contains three main service agglomerations: Santa Claus Village near the Arctic Circle and the Official Airport of Santa Claus, the City centre with three shopping centres and Ounasvaara sports centre, which together constitute, based on co-location, and intentional and unintentional coopetition, one attractive destination providing possibilities for tourism due to several services and activities of the area. Slow tourism is an important emerging tendency to enable the possibility of diminishing overtourism and rethinking the value(s) of local development. Through applying the concepts of slow into tourism city planning, the empowerment and well-being of local communities in increasingly popular global destinations like Rovaniemi are emphasised. Rovaniemi, the city now known as the hometown of Santa Claus, has multilevel coopetitive activities to create year-round locally engaging tourism in order to restrain the development of seasonal overtourism.

LETTER FROM AMERICA Valspar Unit to Acquire Cargill The Valspar Corp. has announced that it has reached an agreement with the Federal Trade Commission that will allow its subsidiary, McWhorter Inc., to acquire Cargill Inc.'s Resin Products Division.

The Bologna Process (BP) remains a key international framework for guiding higher education development in the European Higher Education Area (EHEA) until 2030. This chapter traces integrative curriculum ideas in the BP post-2020 and explains why they are symbolic policies. Prior research into curricula in the BP does not explicitly refer to integrative curriculum ideas and does not explore them in the post-2020 context. 2020 marked the deadline for the achievement of a fully functioning EHEA and for setting up new priorities for 2030. This study is informed by the theoretical ideas of soft governance and symbolic policies in the Open Method of Coordination. This chapter addresses the aforementioned gap in the scholarship by relying on a thematic analysis of the first EHEA communique that set the agenda for the post-2020 period – Rome Ministerial Communique (2020) with its three annexes. The findings highlight the following main areas of the integrative curriculum agenda as symbolic policies after 2020: student-centeredness, research-based learning, and the interconnectedness between learning and wider society. This analysis is significant for our understanding of the strengths and weaknesses of the international policy rhetoric about the integrative curriculum which, in turn, defines the effectiveness of the implementation of these ideas in practice.

We examine the role of financial and nonfinancial performance measures in managing revenues derived from life cycles of a type of intellectual property products − motion pictures.

Our study focuses on the first two markets in which audiences can watch a motion picture – the upstream theatrical market and the downstream home video market. We combine data collected from numerous public and proprietary sources and form a final sample of 654 motion pictures. Then we perform regression analysis on the data.

First, three measures of a movie’s performance in the theatrical market, opening box office revenue, peak rank, and weeks at the peak rank, have positive effects on subsequent revenues in the home video market. Second, the same set of performance measures also predicts the motion picture’s life span in the theatrical market. Third, when the actual life span of a motion picture in the theatrical market deviates from its predicted value, the total return on investment in the motion picture decreases.

We do not have data on other downstream markets related to motion pictures, such as pay-per-view and online video streaming.

This study suggests that the public and proprietary data can be used to inform managerial decisions regarding intellectual property product life cycles.

This is the first accounting study that directly examines life cycle revenues of intellectual property products. We also extend literature on revenue driver and revenue management research to the product level.

Traditionally, firms have been dependent on internal sources such as their own employees – and up to a certain extent, on some external sources, their customers – for innovation. However, in the current scenario of technological dynamism, firms are exploring multiple sources to generate ideas for innovation. Therefore, there is a need to understand the relative effect of various sources of innovations on a firm’s performance.

We offer a conceptual framework where we identify six distinct sources of innovations – firm, customers, external network, competition, macro-environment, and technology and how they create value for focal firms especially their brand equity. We introduce a taxonomy of various costs and benefits related to innovations. We then argue using our proposed taxonomy to understand the relative strengths of various sources of innovation affecting a firm’s brand equity.

We discuss and compare the relative effects of these sources of innovations on a firm’s brand equity by rank-ordering the sources. The customers and the technology as a source of innovation have the maximum impact on the firm’s brand equity followed by the marginal impact of macro-environment and external network of a firm. The firm itself has a moderate impact on its brand equity, while competition has the minimal impact. Further, we also discuss how the relationship is moderated by different innovation characteristics (nature and type of innovations).

The main practical implication is to create awareness among managers about various costs and benefits of the proposed six sources of innovations and their effects on brand equity. Managers would be able to prioritize their sources of innovation based on firms’ current needs, and whether to focus on lower costs or building higher brand equity in the scarce resource environment.

We offer a comprehensive list of six sources of innovation, build a conceptual framework wherein we discuss the relative strengths of these sources affecting brand equity.

This study aims to investigate the influence of different virtual fashion styles on attitude and satisfaction within virtual reality (VR) tourism experiences. The investigation considers the mediating effect of perceived attractiveness, popularity, novelty and weirdness, as well as the moderating role of self-congruence with avatar clothing and the desire for unique products.

This research uses a quantitative experimental approach. Initially, a three-step pilot study (N = 201) was conducted to select avatar fashion styles for the main investigation. In the primary study, participants (N = 326) engaged with one out of four fashion style conditions to select attire for their avatars and then completed a self-administered survey. Data analysis involved paired-sample t-tests, multivariate analysis of variance and Hayes’ PROCESS Models.

The results show that presenting fantasy avatar fashion styles leads to a decrease in perceived attractiveness and popularity, while concurrently increasing perceptions of novelty and weirdness which in turn exert a negative influence on attitude and satisfaction with the virtual fitting room (VFR). However, these relationships change when considering the moderating role of self-congruence with avatar clothing and the desire for unique products.

VR tourism experience providers and designers can use research findings to bolster positive attitude and enhance satisfaction with VFR; an important first step that strongly affects the rest of the VR tourist journey.

This study contributes to tourism research by exploring the intersection of immersive technologies and virtual fashion. It emphasizes the enhancement of critical touchpoints like the VFR, moving beyond a sole focus on VR adoption, to improve the overall virtual tourist experience.

The prevalence of obesity in China is currently one of the lowest in the world, but it is increasing, particularly in urban areas. The incidence of obesity in China is approximately four to five times lower than in the UK and USA respectively. Several dietary studies have found that dietary fat consumption in China is lower than in Western countries, but is currently increasing. In addition, Chinese in more affluent countries such as Hong Kong, Taiwan, and Singapore, and Chinese immigrants in the USA are consuming greater amounts of dietary fat than Chinese in China. This increased intake of fat in Chinese is probably due to transition from the traditional Chinese eating patterns to those typical of Westerners. The change in overall dietary intake is likely to have an impact on obesity, health and economy of these nations. This is an appropriate time to examine the relationship between diet and obesity with special reference to Chinese communities in different parts of the world.