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Market response models or marketing mix models quantify the effects of marketing actions on consumption-based outcomes such as sales and market share. They are frequently used in the business sector to help managers make effective resource allocation decisions, especially in the digital age. However, these models can also be used on social causes, in particular to gauge the efficacy of regulations on consumption levels that have social consequences. This chapter explores these principles in two major areas of social concern, alcohol consumption and narcotics abuse. We review the empirical findings in these two areas, based on published research in major marketing journals, and we formulate various recommendations for the effective regulation of alcohol and narcotics consumption.

This chapter proposes three different definitions for the market power in the antitrust case, such as dynamic monopoly power, static monopoly power and market power.

The chapter presents simple economic models to analyse which definition of the three market powers is consistent with predatory pricing or tying.

The prerequisite market power is simply market power in the predatory pricing case or static monopoly power in the tying case.

Dynamic monopoly power defined as the market power from an antitrust perspective by the Antitrust Modernization Commission should not be the prerequisite market power in the case of the abuse of dominance or the violation of Section 2 of the Sherman Act.

A possession of substantial market power or monopoly power is typically understood as a prerequisite in abuse of dominance in Korea and EU or violation of Section 2 of the Sherman Act in the United States. However, the antitrust law does not clearly indicate the meaning of market power or monopoly power. This chapter proposes three different definitions for the market power in the antitrust case and analyses which definition of the three market powers is consistent with predatory pricing or tying.

Expanding and developing the theoretical implications of socialist market economy with China’s experience.

In the course of exploring the development of a market economy, China has given full play to the advantages of the socialist system, which has distinguished itself from the Western countries and some of its developing peers. China's market economy is not directly transplanted and copied from the West. China not only insists on growing its market economy but also unswervingly sticks to the socialist orientation of its market economy.

So far, the socialist market economy has proved to be more effective than the conventional one-sided, planned economy and also outperforms the capitalist market economy.

The socialist market economy has surpassed the conventional planned economy and the capitalist market economy – it is a reconstructed and reshaped mechanism and system as well as a successful and new path of market economy explored by China through reform and opening up, rather than a counterpart of Western market economy or the simple combination of socialism and market economy.

Strategy Question: How do we figure out the size of our market in the absence of hard data?

Summary: This tool provides a method to estimate market size in the absence of trade association information or confidence in existing market intelligence. It is a spreadsheet-based, bottom-up approach that builds market size based on a series of logical assumptions. Each assumption is tested and validated by internal and/or external subject matter experts before moving on to the next. The tool is somewhat iterative in nature, and two to three revisions from the first pass is not uncommon. The result is a reasonably accurate assessment of the market and the key areas of the market on which to focus attention and strategy development. This provides a basis for conducting meaningful strategic market analyses.

This paper analyzes two views on the issue of FDI and stock market development. The first view is that FDI is negatively correlated with the development of stock markets. The second view is that FDI is positively related to stock market development. After addressing the issues that might lead to these conclusions, the hypothesis is tested that the level of stock market development in a country is positively correlated to FDI. Data is collected from four Latin American countries and an empirical model is proposed to explain the observed relationship. Additional explanatory variables were included, and a model is developed.

This paper tests for the existence of a long-run co-movement between the three North American stock markets of Canada, Mexico, and the U.S. and examines whether or not the implementation of the North American Free Trade Agreement (NAFTA) has led to more integrated equity markets. Application of the Johansen and Juselius (1990) cointegration procedure indicates a long-term relationship. A vector error-correction (VEC) model establishes that all three markets are involved in the long-run adjustment toward equilibrium. Overall, the results suggest that the implementation of NAFTA has promoted greater economic integration between the three North American countries.

This chapter discusses whether marketing can ever be Islamic given the common view of marketing functions as unsustainable and sometimes unethical, for example, how marketing promotes materialism.

This chapter reviews extant literatures in Islamic marketing, with a particular emphasis on stakeholder orientation in marketing.

We argue that Islamic marketing is indeed compatible with the concepts of ethical and sustainable marketing encompassing social, environmental as well as economic perspectives and encourages ethical behaviour.

This chapter highlights that discussions on Islamic marketing should include sustainable marketing and emphasises the growing importance of stakeholder orientation in marketing.