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Advertising is not an end in itself; it is a means to an end, or more correctly to several ends. In business, advertising is used as one of the major promotion tools to stimulate demands for the product or enhance the image of the organisation. These are its long‐range objectives. However, the short‐range objectives of advertising may be more narrowly defined in terms of creating brand awareness, changing consumers' attitudes positively, gaining public acceptance for a product, informing a particular event, and building a particular image for a product.

This paper aims to investigate price and objective-quality in durable product categories containing national and private-label (PL) brands.

Using data from consumer reports objective-test results of 14,476 durable products available in the US the authors identified product categories containing both national and PL brands; constructed relative price- and quality-indices for each category; calculated price and quality differentials for each category then modeled the relationship between them; estimated the price premium associated with national brands (NBs); and computed price–quality (PQ) correlations for each category. The authors also analyzed the same relationships using subjective brand-perception data collected from 240 consumers.

Overall the price of NBs in durable products was substantially higher than the price of PL brands despite there being little to no difference in quality levels overall, with the proportion of categories having higher PL quality nearly equaling that of categories having superior NB quality. Correlation between price and quality was moderate. Accuracy of consumer perceptions varied depending on the importance of brand in the purchase decisions for particular product categories.

This paper uses a large objective dataset spanning a period of more than eight years to assess price and quality for durable goods in categories offering PL brands. It addresses an under-studied area, that of PL brands for higher-priced, longer-lasting products. The findings contribute to an existing understanding of PLs, especially in the domain of durable-goods, as well as to the body of research in the area of PQ relationships. It also adds to our understanding of consumers’ perceptions of brand as a factor in durable product decisions and how the market aligns with those perceptions.

This paper seeks to reconsider the Euler equation of the Consumption Capital Asset Pricing Model (CCAPM), to derive a regression‐based model to test it, and to present evidence that the model is consistent with reasonable values for the coefficient of relative risk aversion (CRRA). This runs contrary to the findings of the literature on the equity premium puzzle, but is in agreement with the literature that estimates the CRRA for the purpose of computing the social discount rate, and is in line with the research on labor supply. Tests based on General Method of Moments (GMM) for the same sample produce results that are extremely disparate and unstable. The paper aims to check and find support for the robustness of the regression‐based tests. Habit formation models are also to be evaluated with regression‐based and GMM tests. However, the validity of the regression‐based models depends critically on their functional forms.

The paper presents empirical evidence that the conventional use of GMM fails because of four pathological features of GMM that are referred to under the general caption of “weak identification”. In addition to GMM, the paper employs linear regression analysis to test the CCAPM, and it is found that the regression residuals follow well‐behaved distributional properties, making valid all statistical inferences, while GMM estimates are highly unstable.

Four unexpected findings are reported. The first is that the regression‐based models are consistent with reasonable values for the CRRA, i.e. estimates that are below 4. The second is that the regression‐based tests are robust, while the GMM‐based tests are not. The third is that regression‐based tests with habit formation depend crucially on the specification of the model. The fourth is that there is evidence that market stock returns are sensitive to both consumption and dividends. The author calls the latter “extra sensitivity of market stock returns”, and it is described as a new puzzle.

The regression‐based models of the CCAPM Euler equation are novel. The comparison between GMM and regression‐based models for the same sample is original. The regression‐based models with habit formation are new. The equity premium puzzle disappears because the estimates of the CRRA are reasonable. But another puzzle is documented, which is the “extra sensitivity of market stock returns” to consumption and dividends together.

An assessment of the first six years of a ten‐year research programme of the costs and benefits derived from making organisational and job content changes in engineering maintenance.

By standardizing the marketing effort over similar worldwide segments and differentiating it across dissimilar worldwide segments, the international marketing manager is able to reap the advantages of both standardization and customization. The choice of the variables by which to segment the global market is crucial. Traditionally, purely environmental bases (geographic, political, economic, and cultural) were used as bases for international market segmentation. Proposes that international marketers group relevant markets based on both environmental as well as marketing management bases. The marketing management bases are classified as: (1) product‐related; (2) promotion‐related; (3) price‐related; and (4) distribution‐related. Derives number of propositions with direct implications for international marketing strategy and segmentation with respect to these bases. Highlights the managerial implications of the variables encompassed by these bases. Proposes the empirical investigation of the derived propositions as a research agenda for the future.

Spotlights the principal emphasis of this study as descriptions of the present state and indicators of change in US channel structure. Follows this by speculating briefly about future trends in this structure and its relevance for UK business. Looks ahead to future developments and makes comparisons with the UK in regard to recent developments in US distribution patterns – particularly changing power relationships between institutions. States that though only UK sources have been available for use here, the trends in the US economy should be able to be described with sufficient detail. Concludes that there are lessons for the UK market in dealing with the USA and these should be used.

Discusses studies on the way in which US manufacturers adjust or adopt their marketing activities to Western Europe's national, regional and local differences. Reports that most studies reviewed found high degrees of standardisation prevailing – the managerial implications of this are considered – and suggests ways in which the advantages of standardisation and adaptation can be mutually maintained. Concludes that this survey study has provided useful information and insights based on conditions prevailing in the summer of 1973 and developments not covered previously certainly deserve further attention regarding international marketing policies.

Levitt's theory of globalisation has attracted a great deal of attention among both academics and practitioners. The view that a single product can be offered worldwide offers significant benefits for international marketers, whatever their size or industry. A review of empirical findings in the literature, however, suggests that this theory should be adopted with caution. The author has studied a specific group of three products manufactured by UK companies and exported to other countries in Europe. Despite the often cited term, European market, which implies a likeness between all European countries and, hence, an opportunity for product standardisation, the findings suggest that modifications in many product aspects are necessary for export success. Further, the degree of modification required varies from market to market.

The purpose of this paper is to aim in general to understand the perception of industries in India – a fast growing economy, towards green philosophy and to investigate further what initiatives those industries have taken for becoming green.

The study is exploratory in nature and attempts to understand the behaviour of three types of industries, namely, durable, non‐durable and services towards green philosophy.

Results of the study reflect that industries in India, in general have a positive view for practicing green philosophy. They feel becoming green will help them in gaining the competitive advantage and will support them in sustainable growth. Also the industries that have a positive attitude towards greening have taken some measures and initiatives in this direction to establish a sustainable competitive advantage for succeeding in today's highly challenging and dynamic global markets.

The present exploratory study provides a starting‐point for further research. Researchers can further explore whether industries using green philosophy were able to register a competitive advantage and could gain added market share and profits by becoming green. They can investigate the reason behind this green attitude, whether industries are using green practices for cutting costs in turn to increase their profits or whether they have a genuine concern for environmental protection and society's welfare and therefore adopting green practices in their industry.

Most of such studies in the field of green marketing and social economics are done in developed countries and remain conspicuously missing in the context of fast developing Asian countries. This research is a step to filling this gap and providing a platform for further research in this area.

The purpose of this paper is to test whether households with members that experience job loss shocks are able to protect their previous level of consumption. The paper also tests whether consumption protection is affected when spells persist through time.

The paper estimates an intertemporal consumption model, where households try to smooth their marginal utility over time. For that purpose it analyses Spanish household budget surveys that span a long period, 1999-2012, including the Great Recession. Unlike most consumption datasets, this microdata is designed as a panel and provides detailed information for all consumption categories as well as household members’ labour status.

The paper finds that consumption smoothing is dependent on the household member facing the unemployment transition. In particular, only main breadwinner’s unemployment transitions affects consumption smoothing. It also shows that the consumption drop persists beyond the period of the job loss for ongoing spells, although it follows a decreasing pattern. Finally, the estimation results are stable over the business cycle.

The results suggest that Spanish households are not capable of fully insuring against main breadwinner’s unemployment shocks. Further, the results show that this effect remains up to two years for ongoing unemployment spells. Thus these results highlight a welfare loss by Spanish households with unemployed members.

The paper extends the usual analysis of job loss shocks by the main breadwinner to include the cases of both the spouse and the rest of household members, who tend to account for most unemployment. Further, it tests for unemployment persistence. Finally, it checks the sensitivity of the results to the business cycle, including the Great Recession.