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Market share attraction models are useful tools for analyzing competitive structures. The models can be used to infer cross-effects of marketing-mix variables, but also the own effects can be adequately estimated while conditioning on competitive reactions. Important features of attraction models are that they incorporate that market shares sum to unity and that the market shares of individual brands ake in between 0 and 1. Next to analyzing competitive structures, attraction models are also often considered for forecasting market shares.

The econometric analysis of the market share attraction model has not received much attention. Topics as specification, diagnostics, estimation and forecasting have not been thoroughly discussed in the academic marketing literature. In this chapter we go through a range of these topics, and, along the lines, we indicate that there are ample opportunities to improve upon present-day practice. We also discuss an alternative approach to the log-centering method of linearizing the attraction model. This approach leads to easier inference and interpretation of the model.

Accumulators are cutting‐edge stock derivative investments that have been the subject of much controversy in Hong Kong over the past year. Accumulators are exotic options composed of a full year of daily long up‐and‐out call options and short up‐and‐out put options. Because accumulators are so new, the understanding of accumulators is currently very limited. This paper attempts to characterize and understand the properties of this fairly unknown and new stock derivative investment.

The study analyzed and characterized accumulators based on observations from past history of 11 stocks of the Hang Seng Index. Using historical stock data covering from January 3, 2006, and onward, the profit and loss for each accumulator contract was calculated.

Through the research it is understood that the profit and loss of accumulator contracts depends primarily on the following factors: knockout percentage, discount percentage, variability of the underlying stock, and the overall market trends, among other factors.

This pioneer simulation is an empirical exploratory post factum study that gives researchers and practitioners further insight how to formulate a risk neutral pricing model for accumulators in the future.

Aarhus Kommunes Biblioteker (Teknisk Bibliotek), Ingerslevs Plads 7, Aarhus, Denmark. Representative: V. NEDERGAARD PEDERSEN (Librarian).

The aim of this article is to investigate the relationship between visual merchandising elements and consumer affective response by focusing on a function‐oriented product – intimate apparel.

In this paper, a different perspective on visual merchandising is offered through the different types of intimate apparel retailers (from fashion‐oriented, mass market‐oriented to fashion forward). This is presented in an interpretive study of Hong Kong Chinese female consumers, between the ages of 25 and 35. A qualitative approach is employed and the grounded theory method is chosen. A total of eight focus group interviews are conducted with 64 subjects.

The findings indicate that participating subjects have two points of view when evaluating visual store displays, which include utilitarian and hedonic aspects. The utilitarian aspect relates to the actual needs of consumers, such as garment deterioration, seasonal changes and occasions. The hedonic aspect finds that the perceived female image governs consumer interpretation and acceptance of visual displays. It also reveals that the need to be feminine sets the guidelines to evaluating visual stimulus in stores. Display elements, such as mannequins, colour, lighting and props that emphasize feelings of feminine sexuality, tend to trigger negative affective responses in consumers which finally affect purchase intentions.

The authors aim to explore consumer affective response on visual stimulus in stores by considering the aesthetic, symbolic and cultural perceptions of a function‐oriented product – intimate apparel. The literature to date tends to focus on the interaction between individual visual merchandising elements (e.g. colour, lighting) with consumers. However, the product nature and its symbolic meaning have not been seriously taken into consideration. Due to the immense market potential in the East, applying western‐developed theories may not be universally appropriate. There may be different results and patterns in consumer behaviour. Thus, this study aims to enrich existing knowledge of atmospheric management by including the interaction of Eastern values and product nature on affective responses.