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Market Segmentation (market + segmentation)
Selected AbstractsEffects of Market Segmentation and Bank Concentration on Mutual Fund Expenses and Returns: Evidence from FinlandEUROPEAN FINANCIAL MANAGEMENT, Issue 3 2004Timo P. Korkeamaki G15; G18; G20 Abstract A tremendous amount of research examines US mutual funds, but fund markets also thrive in other countries. However, research about these fast growing markets is lacking. This study addresses Finnish funds. Fast growth of the Finnish fund industry, strong bank dominance in the industry and recent EU membership make it an interesting market to examine. The Finnish fund market is also of particular interest since it had the fastest growth among the EU countries during 1996,2000. We find evidence that bank-managed and older funds charge higher expenses but investors are not compensated for paying higher expenses with higher risk-adjusted returns, suggesting a potential agency problem. Overall, Finnish fund expenses have decreased over time, consistent with EU membership reducing market segmentation and generating competition. [source] Market Segmentation and Information Asymmetry in Chinese Stock Markets: A VAR AnalysisFINANCIAL REVIEW, Issue 4 2003Jian Yang G15/G32 Abstract This study examines the market segmentation and information asymmetry patterns in Chinese stock markets. The recursive cointegration analysis confirms that each of six markets is not linked with other markets in the long run. Further, the result from data-determined forecast error variance decomposition clearly shows that foreign investors in the Shanghai B-share market are better informed than Chinese domestic investors in two A-share markets and foreign investors in Shenzhen and Hong Kong markets over time. The finding challenges a widespread assumption of less informed foreign investors in the literature, but suggests that foreign investors could be more informed in emerging markets. [source] Global Market Segmentation and Patterns in Stock Market Reaction to US Earnings Announcements: Further EvidenceJOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT & ACCOUNTING, Issue 2 2005Tony Kang The purpose of this study is to investigate why the information content of US earnings announcements of non-US firms cross-listing in the US varies with the degree of capital market segmentation in the cross-listing firms' countries of domicile. My evidence shows that indirect barriers to investing (i.e., accounting rules and liquidity differences) rather than direct investment barriers (i.e., investment restrictions) mainly account for this difference. After controlling for the level of accounting disclosure in a firm's country of domicile, I do not observe a systematic difference in the size of market's reaction to earnings announcements depending on the degree of market segmentation in the firm's country of domicile. This study contributes to the literature by providing evidence that accounting disclosure plays an important role in the integration of global capital markets. [source] Effects of Market Segmentation and Bank Concentration on Mutual Fund Expenses and Returns: Evidence from FinlandEUROPEAN FINANCIAL MANAGEMENT, Issue 3 2004Timo P. Korkeamaki G15; G18; G20 Abstract A tremendous amount of research examines US mutual funds, but fund markets also thrive in other countries. However, research about these fast growing markets is lacking. This study addresses Finnish funds. Fast growth of the Finnish fund industry, strong bank dominance in the industry and recent EU membership make it an interesting market to examine. The Finnish fund market is also of particular interest since it had the fastest growth among the EU countries during 1996,2000. We find evidence that bank-managed and older funds charge higher expenses but investors are not compensated for paying higher expenses with higher risk-adjusted returns, suggesting a potential agency problem. Overall, Finnish fund expenses have decreased over time, consistent with EU membership reducing market segmentation and generating competition. [source] International Portfolio Investment: Theory, Evidence, and Institutional FrameworkFINANCIAL MARKETS, INSTITUTIONS & INSTRUMENTS, Issue 3 2001Söhnke M. Bartram At first sight, the idea of investing internationally seems exciting and full of promise because of the many benefits of international portfolio investment. By investing in foreign securities, investors can participate in the growth of other countries, hedge their consumption basket against exchange rate risk, realize diversification effects and take advantage of market segmentation on a global scale. Even though these advantages might appear attractive, the risks of and constraints for international portfolio investment must not be overlooked. In an international context, financial investments are not only subject to currency risk and political risk, but there are many institutional constraints and barriers, significant among them a host of tax issues. These constraints, while being reduced by technology and policy, support the case for internationally segmented securities markets, with concomitant benefits for those who manage to overcome the barriers in an effective manner. [source] Market Segmentation and Information Asymmetry in Chinese Stock Markets: A VAR AnalysisFINANCIAL REVIEW, Issue 4 2003Jian Yang G15/G32 Abstract This study examines the market segmentation and information asymmetry patterns in Chinese stock markets. The recursive cointegration analysis confirms that each of six markets is not linked with other markets in the long run. Further, the result from data-determined forecast error variance decomposition clearly shows that foreign investors in the Shanghai B-share market are better informed than Chinese domestic investors in two A-share markets and foreign investors in Shenzhen and Hong Kong markets over time. The finding challenges a widespread assumption of less informed foreign investors in the literature, but suggests that foreign investors could be more informed in emerging markets. [source] HR strategy and competitive advantage in the service sectorHUMAN RESOURCE MANAGEMENT JOURNAL, Issue 3 2003Peter Boxall While taking its cue from studies of high-performance work systems in manufacturing, this article examines theory and research on the potential for HR advantage in the service sector, building directly on recent studies of market segmentation and HR strategy in the sector. The article uses these studies, along with strategic management theory, to put forward a new typology of market characteristics, competitive dynamics and HR strategy in services. Three broad types of competition, ranging from mass market to knowledge-intensive services, are identified. This framework helps the article to explore the issue of whether competitive differentiation through human resources is possible only in high-skill areas such as professional services. It argues that opportunities for HR advantage are broader; they exist where quality and/or knowledge are important in competitive strategy. However, seeing the opportunity is not the same as achieving the result. Service firms that identify and pursue these opportunities face the problems of building and maintaining barriers to imitation, and of managing the ,politics of appropriation'. [source] Integrating intelligent systems into marketing to support market segmentation decisionsINTELLIGENT SYSTEMS IN ACCOUNTING, FINANCE & MANAGEMENT, Issue 3 2006Sally MckechnieArticle first published online: 13 MAR 200 For the last 50 years market segmentation has been considered to be a key concept in marketing strategy. As a means of tackling market heterogeneity, the underlying logic and managerial rationale for market segmentation is well established in the marketing literature. However, there is evidence to suggest that attempts by organizations to classify customers into distinct segments for whom product or services can be specifically tailored are proving to be difficult to implement in practice. As the business environment in which many organizations operate becomes increasingly uncertain and highly competitive, greater importance is now being attached to marketing knowledge. The purpose of this paper is to highlight market segmentation problems as a relevant area for a greater level of engagement of intelligent systems academic researchers and practitioners with their counterparts within the marketing discipline, in order to explore how data mining approaches can assist marketers in gaining valuable insights into patterns of consumer behaviour, which can then be used to inform market segmentation decision-making. Since the application of data mining within the marketing domain is only in its infancy, a research agenda is proposed to encourage greater interdisciplinary collaboration between information systems and marketing so that data mining can more noticeably enter the repertoire of analytical techniques being employed for segmentation. Copyright © 2007 John Wiley & Sons, Ltd. [source] Groundnut consumption frequency in GhanaINTERNATIONAL JOURNAL OF CONSUMER STUDIES, Issue 6 2008Curtis M. Jolly Abstract Groundnut (peanut) is an important food and oil crop in Ghana, but little is known about the factors influencing consumption. The study surveyed market participants; investigated the frequency and forms of groundnut consumed; and evaluated the factors influencing consumers' decisions to eat groundnuts in Ghana. About 80% of respondents consume groundnut and/or its products at least once a week and 32.0% consume it three times a week. Logistic models showed that age, education and the form in which groundnuts are consumed influence the frequency of groundnut consumption. Total revenue and the form in which groundnut is eaten influence farmers consumption decision whereas groundnut consumption by poultry farmers is influenced by knowledge of the health effects of groundnuts on birds and the form in which groundnut is eaten by the poultry producers. Processors' frequency of consumption is influenced by the form in which groundnut is consumed and their knowledge of reasons for sorting. The results are important for market segmentation for demand projection along the marketing chain. [source] The influence of service performance and destination resources on consumer behaviour: a case study of mainland Chinese tourists to KinmenINTERNATIONAL JOURNAL OF TOURISM RESEARCH, Issue 3 2009Chien Min Chen Abstract This paper draws upon the responses of 603 mainland Chinese tourists in Kinmen and attempts to understand their consumer behavior on the aspects of intentions, preferences, decision-making process, satisfaction, and willingness to revisit. Variables such as service performance and destination resources that affect visitor's satisfaction are also tested. The findings reflect a ,myth of mysteriousness' of mainland Chinese visitors to the destination and suggest that it is essential for the market segmentation to participate in the tourism planning of Kinmen to develop an integrated policy for promotion and marketing, in order to enhance consumers' interest. In addition, this research has implications for tourism planning in Kinmen and provides references for other destinations striving for tourists from mainland China. Copyright © 2008 John Wiley & Sons, Ltd. [source] UK tour operator strategies: causes and consequences,INTERNATIONAL JOURNAL OF TOURISM RESEARCH, Issue 5 2001Mary Klemm This paper is an investigation of the competitive strategies of British tour operators and their impact on the image and quality of tourist destinations. The strategies considered are the vertical integration of tour operators with travel retailers and airlines, pricing and contracting systems in the resort, and developments in market segmentation. The authors also consider the rationale, development and impact of tour operator branding, a strategy that has accelerated the trend towards standardised holiday products. The study concludes by outlining policies to counteract the negative effects of tour operator strategies and work towards a more fruitful partnership between mass market tour operators and tourist destinations. Copyright © 2001 John Wiley & Sons, Ltd. [source] Continuity and change in the southern European social modelINTERNATIONAL LABOUR REVIEW, Issue 1 2008Maria KARAMESSINI Abstract. Over the past 20 years or so, the southern European model has undergone substantial change in every way. The changes in industrial relations, wage-setting and employment protection legislation have tended to increase wage and labour flexibility and restrict labour market segmentation. Changes within the welfare state have sought to improve labour force skills, fill gaps in social protection, reduce inequalities in social security and contain social expenditure growth. Yet institutional change has not eliminated the main features of this model: pronounced labour market segmentation and familialism; however, extremely low fertility rates are indicative of the limits of familialism in the near future. [source] Matching Technologies with Potential End Users: A Knowledge Engineering Approach for Agricultural Research ManagementJOURNAL OF AGRICULTURAL ECONOMICS, Issue 1 2004J. David Reece This paper addresses the problem of priority setting that faces developing country agricultural research, a problem whose relevance has been sharpened by the current context of demands for greater efficiency and targeted impact. A new method for ex ante estimation of the impact of developing each of several alternative proposed technologies is described and illustrated through an example from West Africa. This method is based on the notion of market segmentation, which normally makes intensive use of secondary data-sets that are simply not available for rural areas of developing countries. To circumvent this lack of secondary data, the method adopts a knowledge engineering approach based on the views of an expert panel familiar with the region to be served. Descriptions of proposed technologies are matched with the interests and resources of identified market segments, together with the characteristics of their farming systems and locations, to identify those segments whose members are likely to use the proposed technology. Further development of the method is discussed. [source] Investigating household food interpurchase behavior through market segmentation,AGRIBUSINESS : AN INTERNATIONAL JOURNAL, Issue 3 2010Diansheng Dong In this study, a market segmentation approach is developed and applied to analyze U.S. households' cheese purchases. The segmentation is based on household interpurchase time, or the hazard rate of purchases. In this study, four segments have been discovered in the U.S. market for household cheese purchases. Two of the segments jointly represent about 40% of all cheese-purchasing households and are characterized as frequent buyers with an average interpurchase time of 2 weeks. These frequent-purchase households are larger in size, have greater incomes, have a smaller proportion of African Americans, and are insensitive to coupons. They are often described in the marketing literature as loyal customers. In contrast, the other two segments, which jointly represent about 60% of the households, are characterized by infrequent buyers with an average interpurchase time of 6 weeks. These infrequent-purchase households are smaller in size, have less income, have a higher proportion of African Americans, and are sensitive to coupons. Marketing promotions typically target the infrequent-purchase households. [EconLit citations: D12, C51, C41]. © 2010 Wiley Periodicals, Inc. [source] The Multijurisdictional Disclosure System and Value of Equity OfferingsJOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT & ACCOUNTING, Issue 1 2006Usha R. Mittoo The Canada and US multijurisdictional disclosure system (MJDS) implemented in 1991 lowered the indirect barriers for investors and issuers by easing reporting and disclosure requirements for cross-border issues. This paper examines the impact of the MJDS and related regulatory changes on Canada,US equity market segmentation using a sample of Canadian seasoned equity offerings in the 1991,1998 period. We find that the number of cross-border issues by Canadian firms increased, and the typical negative stock price reaction that accompanies seasoned equity issues declined over time, supporting increased integration between the two markets after the MJDS. We also document that cross-border issues experience about 1.4 per cent lower negative stock price reaction compared with domestic issues, consistent with Canada,US market segmentation. We find mixed support for Merton's (1987) investor recognition hypothesis. While Canadian firms cross-listed in the US experience a less adverse price reaction to their cross-border offerings compared with their non-US-listed peers, there is no significant difference between the two groups in the case of purely domestic issues. [source] Global Market Segmentation and Patterns in Stock Market Reaction to US Earnings Announcements: Further EvidenceJOURNAL OF INTERNATIONAL FINANCIAL MANAGEMENT & ACCOUNTING, Issue 2 2005Tony Kang The purpose of this study is to investigate why the information content of US earnings announcements of non-US firms cross-listing in the US varies with the degree of capital market segmentation in the cross-listing firms' countries of domicile. My evidence shows that indirect barriers to investing (i.e., accounting rules and liquidity differences) rather than direct investment barriers (i.e., investment restrictions) mainly account for this difference. After controlling for the level of accounting disclosure in a firm's country of domicile, I do not observe a systematic difference in the size of market's reaction to earnings announcements depending on the degree of market segmentation in the firm's country of domicile. This study contributes to the literature by providing evidence that accounting disclosure plays an important role in the integration of global capital markets. [source] Characterizing and Reaching High-Risk Drinkers Using Audience SegmentationALCOHOLISM, Issue 8 2009Howard B. Moss Background:, Market or audience segmentation is widely used in social marketing efforts to help planners identify segments of a population to target for tailored program interventions. Market-based segments are typically defined by behaviors, attitudes, knowledge, opinions, or lifestyles. They are more helpful to health communication and marketing planning than epidemiologically defined groups because market-based segments are similar in respect to how they behave or might react to marketing and communication efforts. However, market segmentation has rarely been used in alcohol research. As an illustration of its utility, we employed commercial data that describes the sociodemographic characteristics of high-risk drinkers as an audience segment, including where they tend to live, lifestyles, interests, consumer behaviors, alcohol consumption behaviors, other health-related behaviors, and cultural values. Such information can be extremely valuable in targeting and planning public health campaigns, targeted mailings, prevention interventions, and research efforts. Methods:, We described the results of a segmentation analysis of those individuals who self-reported to consume 5 or more drinks per drinking episode at least twice in the last 30 days. The study used the proprietary PRIZMÔ (Claritas, Inc., San Diego, CA) audience segmentation database merged with the Center for Disease Control and Prevention's (CDC) Behavioral Risk Factor Surveillance System (BRFSS) database. The top 10 of the 66 PRIZMÔ audience segments for this risky drinking pattern are described. For five of these segments we provided additional in-depth details about consumer behavior and the estimates of the market areas where these risky drinkers resided. Results:, The top 10 audience segments (PRIZM clusters) most likely to engage in high-risk drinking are described. The cluster with the highest concentration of binge-drinking behavior is referred to as the "Cyber Millenials." This cluster is characterized as "the nation's tech-savvy singles and couples living in fashionable neighborhoods on the urban fringe." Almost 65% of Cyber Millenials households are found in the Pacific and Middle Atlantic regions of the United States. Additional consumer behaviors of the Cyber Millenials and other segments are also described. Conclusions:, Audience segmentation can assist in identifying and describing target audience segments, as well as identifying places where segments congregate on- or offline. This information can be helpful for recruiting subjects for alcohol prevention research as well as planning health promotion campaigns. Through commercial data about high-risk drinkers as "consumers," planners can develop interventions that have heightened salience in terms of opportunities, perceptions, and motivations, and have better media channel identification. [source] The Emergence of a Working Poor: Labour Markets, Neoliberalisation and Diverse Economies in Post-Socialist CitiesANTIPODE, Issue 2 2008Adrian Smith Abstract:, This paper examines the transformations of urban labour markets in two central European cities: Bratislava, Slovakia and Kraków, Poland. It highlights the emergence of in-work poverty and labour market segmentation, which together are leading to a reconfiguration of the livelihoods and economic practices of urban households. The focus of the paper is on the growing phenomenon of insecure, poor-quality, contingent labour. It examines the ways in which those who find themselves in, or on the margins of, contingent and insecure labour markets sustain their livelihoods. We ask how such workers and their households negotiate the segmentation of the labour market, the erosion of employment security and the emergence of in-work poverty and explore the diverse economic practices of those who cannot rely solely on formal employment to ensure social reproduction. Further, we assess the articulations between labour market participation and exclusion, and other spheres of economic life, including informal and illegal labour, household social networks, state benefits and the use of material assets. We argue that post-socialist cities are seeing a reconfiguration of class processes, as the materialities and subjectivities of class are remade and as the meaning of work and the livelihoods different forms of labour can sustain are changing. [source] Rejoinder for market segmentation for customer satisfaction studies via a new latent structure multidimensional scaling modelAPPLIED STOCHASTIC MODELS IN BUSINESS AND INDUSTRY, Issue 4-5 2005Jianan Wu No abstract is available for this article. [source] Immigration, Labour Markets and Employment Relations: Problems and ProspectsBRITISH JOURNAL OF INDUSTRIAL RELATIONS, Issue 2 2007Patrick McGovern In this review essay, I argue that immigration presents employment researchers with a promising strategic research site because it raises a number of theoretically significant problems with mainstream economic approaches to labour and labour markets. Despite the tendency to view economic migrants as homo economicus personified, I argue that immigration brings the institutional nature of labour markets into sharp relief as it exposes, among other things, the influence of the state, processes of labour market segmentation, and the role of trade union policy and practice. Having identified a number of empirical anomalies that contradict neoclassical economic theory, I proceed to sketch out three areas where a more institutionally oriented approach should prove more fruitful. [source] Spanish mutual fund fees and less sophisticated investors: examination and ethical implicationsBUSINESS ETHICS: A EUROPEAN REVIEW, Issue 3 2009Rocío Marco Crespo Some mutual funds not only apply the usual asset management and custodial fees, but also front loads and redemption fees as a kind of ,toll charge' payable on entering and/or leaving the fund. The aim of this work is to examine the implications of the different loads and fees applied to mutual fund investors in the Spanish market. The results show that there is a relationship between the various charges and fees. The fact that load fund companies charge higher management and custody fees proves the potential of the fund companies to impose higher fees on a segment of the clientele. The investors in load funds, which tend to be large in number of shareholders and belonging to banks and savings banks, are small investors who show a low cost sensitivity. A lower level of financial sophistication may be the reason for the apparent lower price awareness. The problem is that the investors in load funds are not financially compensated for the extra cost represented by the front-load and redemption fees. The only beneficiary seems to be the financial institution itself. On this view, the survival of load funds seems to depend on the lack of financial sophistication of their clientele, combined with market inefficiencies. It is worth asking about the ethics of a situation of market segmentation that allows managing institutions to benefit from the segment of the least sophisticated investors. [source] Canadian city housing prices and urban market segmentationCANADIAN JOURNAL OF ECONOMICS, Issue 3 2009Jason Allen Abstract This paper provides a detailed empirical analysis of Canadian city housing prices. We examine the long-run relationship between city house prices in Canada from 1985 to 2005 as well as idiosyncratic relations between city prices and city-specific variables. The results suggest that city house prices are only weakly correlated in the long run and that there is a disconnect between house prices and interest rates. City-specific variables such as union wage levels and the issuance of building permits tend to be positively related to existing city house prices. Surprisingly, there is mixed evidence with respect to standard measures of economic activity such as per capita GDP and interest rates. Ce mémoire présente une analyse empirique détaillée des prix des maisons dans les villes canadiennes. On examine cette relation à long terme de 1985 à 2005 ainsi que les rapports idiosyncratiques entre ces prix et certaines variables caractéristiques de certaines villes. Les résultats montrent que les prix des maisons urbaines sont faiblement co-reliées à long terme et qu'il existe une déconnexion entre le prix des maisosn et les taux d'intérêt. Certaines variables spécifiques à certaines villes comme les niveaux de salaires des syndiqués ou l'émission de permis de construction tendent àêtre positivement reliées aux prix des maisons existantes. Surprenamment, les résultats sont mixtes pour ce qui est des mesures d'activitééconomique comme le PIB per capita ou les taux d'intérêt. [source] | ||||||||||||||||||||||