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In recognising the need to research the concept of customer satisfaction the study aims to develop a strategic approach to measuring a customer′s satisfaction with a particular enterprise. The study is an attempt to (1) develop an overall concept of customer satisfaction; (2) provide a detailed relationship structure for implementation within a company; and (3) identify potential research areas. A basic premiss of the study is that the focus should be on maximising total product value to the customer; and then, second, that customer satisfaction of external customers is inter‐dependent on the satisfaction of internal customers. The framework of the research centres on a proposed model which integrates all aspects so as to maximise the potential of the organisation and all its subsystems to create and sustain satisfied customers. The approach begins with a conceptualisation phase in which the concept of customer satisfaction is explored. Attributes are then classified into services and this is then extended to integrate the internal customer into a total service model; applying gap‐analysis to this model. Enterprise satisfaction provides the basis for extending the total service model; positioning is applied to the customer satisfaction strategy; and operationalising of this strategy is proposed through an implementation model.

Corporate strategy in South Africa traditionally focused on turnover management because of a tough economy. However, the focus has shifted to the cost side. Because of this emphasis on higher cost efficiency, logistics became a vital part of corporate strategy. Looking at a barometer for logistics excellence, it can be seen that logistics in South Africa is still functionally fragmented with a relatively low level of co‐operation in the value chain. Improving this is vital as logistics will be important for future competitiveness.

Scientific theories on the effects of various policy instruments are often formulated without accounting for the circumstances under which these instruments are applied. Also the implementation process is often neglected. Economic theory formulation often concentrates solely on the influence of the instrument‐as‐intended on the cost‐benefit relationship of various behavioural alternatives. Theories based on the joint influence of possible combinations of circumstances rather than the isolated influences of individual circumstances tend to become tremendously complex. Consequently, attempts to formulate such theories are few. Nevertheless, precisely that combined perspective offers invaluable insights when it comes to making choices concerning practical policy issues. This holds true regardless of whether the choice is part of a,more or less rational and conscious decision‐making process or, alternatively, involves a more personal and intuitive decision which is later to be tabled as the subject of political or administrative debate. This article deals with some fundamentals which provided the groundwork for formulating a scientific theory on the effects of policy instruments by the authors. The complexity of the matter will be reduced without affecting either the number or the diversity of circumstances that can be discussed simultaneously. In addition, attention will be focused on the role and influence of the implementation process which acts as an intermediary between the “paper” policy instruments and the actual policy measures.

Presents a series of articles on each of the following topics: digital strategy in the next millennium (Digital strategy – a model for the millennium; Searching for the next competitive edge; The technology link; Value web management opportunities; clash of the Titans: communications companies battle for new ground; and a guide through the maze); retailing and distribution in the digital era (The business case for electronic commerce; superdistribution spells major changes; VF Corp. sews up software operation; IBM seeks to harness digital revolution; Egghead’s bold move to a Web‐based strategy; achieving successful Internet banking; and enterprising uses for IT); and the changing shape of the aviation industry (boom times ahead for air cargo; United Airlines flies high through employee ownership; Asian practices to West at Cathay Pacific; and Ryannair strips to the bone).

The purpose of this study is to investigate how the positioning of textual and pictorial design elements on a package affects visual attention (detection time) toward these element types.

The study has a 3×2 (stimulus×location) between‐subjects design. One pictorial and two textual package elements, located on the top right‐ or top left‐hand side of a package, were used as stimuli. Visual attention was measured by eye‐tracking. A total of 199 university students participated. The data were analysed using a two‐way ANOVA and a Pearson's chi‐square analysis with standardised residuals.

The results show that in order to receive the most direct attention, textual elements should be on the left‐hand side of a package, whereas pictorial elements should be on the right‐hand side. This is inconsistent with previous design directions (based on recall), suggesting the opposite element organisation.

Previous research has focused on recall (whether respondents remember having seen package elements) or preference (whether respondents prefer a package based on element positioning). The focus of the present study determined whether respondents actually saw the different elements on a package, and how long it took them to detect such elements. Detection time for certain element types can be viewed as a new and complementary way of evaluating the position of package elements. The paper also addresses whether preference is a result of easy information acquisition.

Turkish food retail in Germany fulfils social, cultural, and economic functions, but is threatened by shifts in demand and competition. The purpose of this paper is to give a holistic, interdisciplinary, and action-oriented view of the challenges and opportunities of Turkish food retail in Germany.

Based on a qualitative study using expert interviews with 18 businesspersons from different parts of the Turkish food supply chain in Germany and a qualitative survey of 349 working Bachelor students of trade, industrial, and logistics management as well as business informatics, this paper takes a value chain approach.

The main opportunities of Turkish food retail in Germany lie in increasing its efficiency, using purchasing associations and brand building, targeting well-funded German consumers, offering fluent Turkish-German customer service and shopping experiences, providing appealing shop locations, designs, and layouts, product range adjustments, and promotions.

This paper is based on a small scale qualitative study as access to Turkish food retail experts is limited. The sample was carefully selected to be a fair representation of the Turkish food supply chain. As for the consumers, only students have been surveyed so far, because they were targeted by the experts interviewed. In order to allow wider generalizations, this sample could be extended.

This study complements and enhances the very limited research on Turkish food retail in Germany. For the first time, the call for a holistic, interdisciplinary, and action-oriented examination of the challenges and opportunities of Turkish food retail in Germany is answered from a value chain perspective.

The purpose of this paper was to investigate how attention to wine labels related to preference by using quantitative measures of gaze and of the diameter of the eye pupil. We assessed whether eye fixations could predict choices and willingness to pay and whether pupil size could index the aesthetic value of wine labels. More specific goals were to identify which elements of a wine label captured attention the most and to assess whether an authentic label would be preferred by naïve consumers over other alternative labels, also designed by the same studio but excluded from the market.

Infrared eye-tracking was used to measure the amount of time spent on a specific label among four that were simultaneously shown on the computer screen. Participants also made explicit decisions about preferred labels and provided price estimates. Pupillometry was used for labels shown in isolation to obtain a physiological index of their arousing effect and aesthetic appeal. Eye fixations provided an index of what was selected by attention, whereas changes in the pupillary diameter indexed how intensively attention was focused on an item.

A strong positive relationship was found between the dwelling of gaze over a specific label and the degree in which a wine bottle was preferred and (virtually) chosen. The pictorial elements of the labels were fixated the most, whereas verbal information was looked at the least. Attractiveness scores of each bottle collected with one independent group of observers were able to predict the willingness to pay in another group. Moreover, pupil size changed non-linearly in relation to the hedonic values of the wine labels, indicating greater responses to the most as well as least attractive labels (i.e. for the most arousing labels).

A limitation of the present experiments was that only choices and behavior of wine “novices” were probed; hence, the present findings might not be generalized to other segments (e.g. wine connoisseurs). Moreover, the present study could not specify which visual properties of a label affect preference, aesthetic value and estimates of price, as the study of these effects would require a large number and variety of label stimuli.

Eye monitoring methods could assist marketing studies of preferences and decision-making. Both wine label designers and wine producers could benefit from eye-tracking methods to improve label selection and optimize the design process of a wine label.

Although both eye-tracking and pupillometry have been used to the investigate aesthetic preferences for at least the past 50 years, the measurement of pupil diameter and eye movements to study attributes of (authentic) wine labels and their effectiveness is entirely novel. The present study confirms that measures based on eye-tracking combined to explicit choices or ratings provide complementary types of market-relevant information. Both methods provide objective, quantitative, information of the effect of the labels on consumers that is independent but predictive of actual choices and verbally reported preferences. Moreover, they appear to index different processes, pupillometry being a proxy of aesthetic value and gaze a reliable index of choice. Thus, the present findings can be of value to the academic researcher as well as industry and design practitioners.

The purpose of this research is to test how varying the numbers of attributes and alternatives affects the use of heuristics and selective information processing in discrete choice experiments (DCEs). The effects of visual attribute and alternative non-attendance (NA) on respondent choices are analyzed.

Two laboratory experiments that combined eye tracking and DCEs were conducted with 109 and 117 participants in the USA. The DCEs varied in task complexity by the number of product attributes and alternatives.

Results suggest that participants ignore both single attributes and entire alternatives. Increasing the number of alternatives significantly increased attribute NA. Including NA in choice modeling influenced results more in more complex DCEs.

The current experiments did not test for choice overload. Future studies could investigate more complex designs. The choice environment affects decision-making. Future research could compare laboratory and field experiments.

Private and public sectors often use DCEs to determine consumer preference. Results suggest that DCEs with two alternatives are superior to DCEs with four alternatives because NA was lower in the two-alternative design.

This empirical research examined effects of attribute and alternative NA on choice modeling using eye tracking and DCEs with varying degrees of task complexity. Results suggest that accounting for NA reduces the risk of over- or understating the impact of attributes on choice, in that one avoids claiming significance for attributes that might not truly be preferred, and vice versa.

The purpose of this paper is to suggest that a fundamental cause of market booms and busts is that investor risk attitudes change during market booms. Specifically, the authors propose that an investor’s risk aversion falls as (s)he attempts to “keep up with the Joneses.” This paper studies changing risk attitudes induced by social interactions, and shows that risk-seeking behavior that is initially successful may induce copycat behavior and lead individuals in the same peer group to reduce their degree of risk aversion to attempt to obtain similar rewards, a phenomenon we call “Gain attraction in the presence of social interactions.”

The authors propose a new theoretical model that incorporates the social interaction term into the value function of prospect theory. The modified value function empowers the standard prospect theory by introducing the idea that people often compare themselves to others and then compare their gains to the gains of others. The model predicts that, if people exhibit some degree of envy, they will treat the observed utility achieved by others as destination points and will reposition themselves to the new reference points, and at that point their willingness to accept risk dramatically increases.

The theoretical model is tested empirically against experimental data and survey data. Consistent with the theoretical prediction, the experimental results suggest that, after subjects observed the behavior of the leading investor in the controlled laboratory condition, there was a significant increase in risk-taking behavior. The survey results further confirm that envy is an emotional force behind the dissatisfaction and disappointment among investors when they miss available opportunities that others were able to take advantage of.

This study provides evidence that investment decisions are not made in a social vacuum by isolated individuals, but rather in social settings in which individuals are influenced by the actions and outcomes of their peers. The study also opens up a new research avenue that the reduction in risk aversion induced by peer effects may be an important element explaining how greed is transmitted across the economy during times of financial boom, thus helping to fuel the flames of financial crises.

The purpose of this paper is twofold: first, to provide a descriptive analysis of consumers’ ability to comprehend and use common price promotion information when they choose to do so (e.g. to find the least expensive price or to understand the savings amount); second, to identify which consumer groups (in terms of demographic characteristics) find price promotion comprehension particularly challenging.

An online questionnaire with 14 measures (four literacy, ten numeracy) was administered in the study. Data from 607 Australian consumers were analysed using descriptive, cross-tabulation, and multiple regression analysis via IBM SPSS analytics software.

On average, 20 per cent of the consumers surveyed were unable to comprehend the price promotion signage. On average, 13 per cent of the consumers were unable to carry out arithmetic tasks using the information on price promotion signage. Multiple regression models showed that income level was the main driving factor for the consumers’ price promotion literacy and numeracy levels.

The present study is the first exploratory examination of consumers’ levels of comprehension (literacy) and effective use (numeracy) regarding common types of price promotion communication. The use of online samples and data collection method overestimates the results effect.

This is a pilot field study to investigate whether levels of consumers’ price promotion literacy and numeracy are adequate for everyday decision making. The information can be used as evidence and justification for further research.