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Our last column (Summer 1981) advanced ten possible advertising themes derived from strategic planning. Here are ten more themes that can serve as the foundation of copy strategies:

Many taxing authorities use unimproved land (site) values as a tax base. In highly developed urban areas this may require the use of indirect valuation methods, such as an extraction technique to arrive at the land value. The purpose of this paper is to propose that the land extraction (residual) valuation calculation of an investment property should incorporate productivity variables, rather than cost based figures, in order to simulate market value principles.

This paper examines the assessment of the land component of investment property as an ad valorem tax base. It justifies a valuation methodology using the market comparison approach before developing a model to meet specified criteria. The model incorporates productivity based benchmarks and differentials appropriate for shopping centre properties. The model is then tested on an Australian shopping centre.

This paper found that the land value component of a major shopping centre in Australia could be derived from comparable vacant and improved sales using the variables of moving annual turnover (MAT) and gross lettable area (GLA) as key value determinants.

This exploratory research identified a model that is appropriate for major shopping centres in Queensland, Australia. The model could form the framework for other types of investment property but the key productivity determinants would require re‐examination.

This study provides a practical solution to an ongoing valuation problem arising from the rating legislation in Australia, which requires the determination of site value for all property types.

This paper uses productivity variables to assess the site value of investment property. This innovative methodology can provide a more accurate appraisal of site values.

The Chicago Research Company (CRC) did a survey of corporate (nonproduct, noninstitutional) ads appearing in Fortune and Forbes early in 1980 (see Exhibit 1). Two‐thirds of the ads examined squandered their hefty media budgets on stories such as their growth, being on the cutting edge of new technology, and being in the energy business. Additionally, a sizable group talked about some of their products (but, wisely, did not try to sell them) or their profits.

The notion of “market share” has ravaged the board‐rooms of corporate America for a generation. There are hundreds of classic examples of where share leaders—probably low‐cost producers—have picked up all the marbles and won. However, there are other examples of market‐share blunders that should alert businessmen to be wary of unrestrained share strategies that can be devastating. Despite these blunders, many corporate managements have failed to realize that while low delivered cost can create the opportunity for larger market share, share itself does not assure high profitability.

Over the past few decades, the American corporate community operated in an environment of rapid growth, changing technology, and aggressive expansion into world markets. Throughout this period, productivity increased consistently, resulting in an ever‐climbing GNP. With this rising tide of economic progress, the material and social rewards available to the American consumer appeared to be unlimited.

The approaches used by valuers in assessing the market value of investment property are explained with reference to a survey of practising valuers in Australia. The survey examined the profile of the valuers, their interpretation of market value in a volatile market and details of the valuation methodology used for urban investment property. Identifies the cross‐tabulations between valuation qualifications, experience and methodology. The need for greater market research and a specialist group of valuers with sound cash flow analysis skills to undertake major urban investment valuation are proposed.

This paper's aim is to examine how long established ad valorem taxation systems can be adapted so they remain relevant and equitable in the more complex contemporary property environment.

The research methodology involves a review of national and international literature and structured interviews with key informants from the public and private sectors, particularly Queensland, Australia, but also with the Valuer Generals and others of all mainland states and New Zealand.

Ad valorem taxation systems continue to provide an important and sound base for the raising of government revenue. While it is essential that the long‐standing fundamental techniques of mass appraisal be protected, a number of relatively simple modifications in policy and operational areas can enhance the effectiveness and robustness of the valuation systems.

Despite its importance in the form of taxation in practically all countries, existing research is quite limited and largely descriptive rather than analytical. Limitations also exist because of the very significant variations in law across jurisdictions in Australia and internationally.

The findings can be readily applied in valuation systems particularly as regards the consideration of national markets for certain complex properties, proposals for the better sharing of information and the introduction of improved mediation processes in the case of objections. All of these can lead to more efficient and effective application.

Difficulties have been experienced in a number of jurisdictions where relatively simple valuation provisions are applied to highly complex property types. This paper provides some innovative ideas as to how, even within existing legislation, these problems can be addressed while protecting the well‐established, mass appraisal practices.

Buy/sell decisions in the property market, as in most markets, are based on individual or professional opinions that the exchange price is below or above the individual’s opinion of worth. This article considers the RICS definition of worth and explores other definitions and meanings in the property investment market. It reviews the current provision for DCF in standards or information papers and concludes that, while the International Valuation Standard Committee’s definition of market value is now recognised on a world basis, confusion over the meaning of “worth” and the use of DCF will continue if similar international standards are not agreed.

In our last column (Spring 1981), we talked about how your financial communications program could be strengthened by using marketing research methods that dovetail with strategic planning principles. The net impact, we argued, would be an improvement in the corporate image.