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The purpose of this paper is to investigate four possible asymmetries in US aggregate consumption and its major components (durables, non-durables, and services) for the period 1990-2013. Understanding the asymmetric behavior of the components is important since the impact of monetary policy on separate consumer spending categories may differ substantially.

The authors first employ stationarity and cointegration tests to specify and estimate the long-run equilibrium relationship between consumer spending and such variables as disposable income, consumer sentiment, and the expected real interest rate. The authors then specify a structural error-correction model for each spending category to simultaneously investigate such possible asymmetries due to the ratchet effect, psychological negativity bias, interest rate effect, and varying degree of adjustment in eliminating disequilibrium defined as the gap between actual and desired spending.

First, consumption and its major components all display asymmetric behavior consistent with psychological negativity bias. Second, consumer spending on durable goods also displays asymmetries consistent with both the ratchet effect and the interest rate effect. Third, non-durables respond asymmetrically to disequilibrium; consumers adjust (increase) spending on non-durables only when actual spending is below desired spending on non-durable goods. Fourth, services also respond asymmetrically to disequilibrium; consumers adjust (reduce) spending on services only when actual spending is above desired spending on services.

This study provides new insight on the asymmetric behavior of consumer spending. The authors believe that the findings should help with macroeconomic policymaking when such indicators as income, consumer sentiment, and expected real interest rates display significant variations.

In the heated debate about marketing globalization, the issue of brand standardization has received much less attention compared with advertising standardization. When both issues have been addressed, empirically or conceptually, they have not been considered simultaneously. The current study develops and empirically tests a framework to simultaneously consider brand and advertising standardization strategies. A survey was conducted among brand managers in firms operating in Canada, with data collected on a brand level. The results revealed an independence of brand and advertising standardization practices. It was also found that brand standardization was practised to a much higher degree than advertising standardization, with the most used combined strategy involving brand name standardization and non‐standardization of advertising. Effects of product type and brand age were also investigated. The findings clearly indicate that companies tend to “brand globally, advertise locally”.

This 1993 update of previous 1973 and 1983 surveys of US marketing policies in the now renamed and reshaped Economic Union reveals that the obstacles to standardization remain high, and that it has broadly, if not uniformly, decreased since 1983 – opposite to the trend between 1973 and 1983. Moreover, more marketing decisions by US firms are now made at the European level. Theoretical and managerial implications are drawn from these findings.

To investigate consumer attitudes in India towards local and foreign brand names, against a background of increasing prevalence of foreign brand names and stereotypes of countries of origin covering the range from positive to negative.

A structured questionnaire administered face‐to‐face to 112 consumers in the city of Lucknow. Attitudes to brands categorized as “foreign” or “Indian” were measured by seven‐point semantic differential scales, and consumer ethnocentrism by CETSCALE. Factor analysis with varimax rotation was used to identify factors contributing to the observed degree of ethnocentrism in brand choices.

It was found that the quality of foreign brands was perceived to be generally higher and superior to local brands. Most consumers also associated greater accessibility of foreign brands in the Indian market with better quality at lower prices. Despite high levels of nationalism and preference for indigenous manufacture, as evidenced in high factor ratings on an ethnocentrism scale, which might indicate a positive bias towards local brands, Indian consumers were not prejudiced against foreign brand names. In fact, they evaluated them higher on technology, quality, status and esteem than Indian brands, and attributed higher credibility to those countries‐of‐origin.

This study adds to the body of knowledge about country‐of‐origin effect, in a massive and fast developing market.

The strategy of marketers of foreign brands in the Indian market should be to position their products on attributes of technology and quality, rather than economy and value for money.

Shows that ethnocentricity does not necessarily result in hostility to foreign brands.

This paper examines the implications of standard barter models of market equilibrium for financial security returns in New Zealand. The key question addressed is: does the ‘equity premium puzzle’ of Mehra and Prescott (1985) found in the U.S. also hold in ?ew Zealand? To examine the existence of the equity premium puzzle, quarterly financial security returns and consumption data are examined from 1965 to 1997 to calibrate parameters in the Consumption Based Asset Pricing Model. Unlike much of the existing international evidence, this paper corrects for durable goods consumption following the assumptions of the model that all consumption be consumed in a given period. Numerical analyses indicate that the class of models examined are unable to generate equity premia consistent with historical estimates of the equity premium in New Zealand. Due to small sample variability however, while this discrepancy is material in size, the result is not statistically significant.

The purpose of this paper is to examine the presence of nostalgic advertising in Indian television and its execution with reference to extent of information disclosure, level of involvement, type of products and stages in product life cycle (PLC).

This research uses a content analysis of 700 TV advertisements aired between January-December 2013 from top five Indian TV channels based on their rank according to Gross Viewership in Thousands.

Humour/happiness was the most commonly used emotional appeal and nostalgic ads constituted 12 per cent of the emotional ads in Indian television. “References to past family experiences” was the most commonly used nostalgic element. As hypothesised, nostalgic ads use low information disclosure strategy (vis-à-vis high/medium information disclosure strategy) and are more commonly used for low involvement products (vis-à-vis high involvement products), experience products (vis-à-vis search products), and non-durables (vis-à-vis durables). Also, nostalgic appeals are more commonly used at maturity stage of PLC (vis-à-vis introduction stage).

This is the first research to analyse the content and execution of nostalgic advertising in India. This study is also one of the first to provide a comprehensive framework on nostalgic advertising. The interrelationships among variables such as product category, process of emotional appeal, degree of information disclosure and stage in PLC has not been investigated earlier, in the context of nostalgic advertising. Moreover, this study is the first attempt to present a snapshot of TV ads in India.

Globalization has brought apparent transformations to the UAE market. Shift in market trends due to a growing multicultural population induces marketers to update their marketing strategies. Focusing on the purchase behavior and level of satisfaction of consumers coming from different regions, the purpose of this paper is to examine the influence of multi‐cultural consumers in the buying behaviour in the Abu Dhabi market for durable and non‐durable consumer products.

The sampling frame to examine the impact of heterogeneous culture in a geocentric market comprised 300 consumers belonging to different nationalities working in the UAE. Satisfaction Index, Kendall's Coefficient of Concordance and Kruskal–Wallis test were used to test hypotheses constructed from literature.

The three hypotheses formulated to test inter‐cultural differences revealed the influence of multi‐culture on consumers' buying behaviour. This paper recommends that by optimizing the utility of well‐advanced digital media in the Emirates, marketers can customize strategies by which to penetrate culturally segmented niches.

Global marketing is emerging in the Arab markets, assuming that global culture will bring about a paradigm shift from homogenous to heterogeneous buying habits. Exploring the influence of multicultural consumerism, the study illustrates the divergent demands of Abu Dhabi consumers.

The topic of internationally standardised branding has been widely debated in the marketing literature. However, no studies have empirically examined the actual extent of international brand penetration and standardisation. Based on a survey of US brand managers of consumer products, this study found that while some 66 per cent of the responding brands are used abroad and most are internationally standardised, approximately 80 per cent of sales still come from the US market. Overseas, US brands generate most of their sales in culturally similar markets, specifically Canada and the United Kingdom.

This study explores US brands' web site standardisation in terms of the extent of standardisation and the content applied across European markets. The conceptual framework was created on the basis of four basic functions of web site content, i.e. transaction, communication, relationship, and interactivity.

In total, 206 web sites created for the UK, France, Germany, and Spain were examined by online content analysis techniques, in terms of the features of the web site in each host country, and the similarity between the home‐country (USA) and host‐country web sites. The unit of analysis was determined to be the first page or homepage of the web sites, excluding analysis of hyperlinks. Multivariate analyses were applied to test the principal thesis of the study.

The brands sold by US firms adopted a localisation strategy for web sites created for European markets by tailoring the specific content to each market, but maintained a minimum level of uniformity for logo, colour and layout. Other aspects, such as textual information and visual images, were very dissimilar across markets. Image reinforcement, direct sales functions and availability of choice were found to be the most significant features influencing web site standardisation. Furthermore, as in traditional media, the extent of web site standardisation for durable goods was significantly higher than for non‐durables.

The findings of this study should make advertisers and agencies more aware of the cultural and socio‐economic differences, rather than similarities, within the single European market. Despite the increasing consensus concerning the wider applicability of standardisation practices in traditional media, the findings of this study imply that a greater segment of interactive expertise may have accepted a view that subtle but important cultural differences exist across Europe, in terms of the use, selection and participation in web site‐based marketing.