This paper had a goal to explore the knowledge and spending power, which frequent criteria are for target groups, although they are rarely distinguished in a systematic way. This paper develops ...motivation for a thorough distinction and reveals differences among connoisseurs and spenders within the Croatian wine market. A theoretical model of the two target groups in a framework around the BCG matrix was developed. For the empirical verification, standardized face-to-face interviews were conducted with 307 Croatian wine consumers. For the sake of knowledge, both self-reported and observed measures were used. Our findings confirm that Connoisseurs emphasize particularly functional characteristics of wine that constitute self-related items such as self-fulfillment and social values, while spenders rather emphasize the gastronomy experience of wine. The difference between connoisseurs and spenders can be translated into marketing strategies that emphasize different product attributes and characteristics of wine at different stages of the product life cycle.
Background: In modern business conditions, intangible assets have a dominant impact on the business performance of the company. R&D activities, the level of R&D investments and the efficiency of R&D ...investments affect company profitability. There are various performance indicators of R&D activities that have an impact on profitability. Purpose: Bearing in mind that R&D is the precondition of growth and development of the company, as well as the efficiency of R&D investments, is the key determinant of economic corporate responsibility, the purpose of this paper is to investigate the effects of various performance indicators of R&D activities on companies' profitability. The aim of this paper is to investigate the effects of R&D investments, R&D intensity and return on R&D capital on the profitability of highly innovative companies. Study design/methodology/approach: Correlation, regression and cluster analyses were performed to provide an empirical investigation of the impact of key R&D performance indicators on the return on assets (ROA) of highly innovative companies, which are on the list of the top R&D spenders in the world. The data for the analysis comprises 24 R&D-intensive companies for the period 2013-2021. Findings/conclusions: The regression analysis results conducted on the determined clusters show that all three analyzed indicators of R&D activities have a positive and statistically significant impact on ROA in highly R&D-intensive companies. It is confirmed that the effects of various indicators of R&D activities are bigger in companies with higher RDII. Limitations/future research: The sample encompasses the 24 companies listed among the top 50 R&D spenders worldwide, which is considered insufficient for extensive analysis. The other limitation is related to the short research period. As the R&D activities produce yields after several years, the possible direction for future research is to investigate the impact of accumulated R&D investment over several years on ROA.
This paper contributes to the literature on military expenditure by examining the relationship between military expenditure and inequality in the distribution of income in a panel set of top ten ...defence spenders over 1990 to 2015, including also wide specification of control variables. In particular, we explore the impact of military spending on three different measures of inequality, (i) Gini Measure, (ii) Theil Measure and iii) Income shared by the top 20 per cent of the population. Further, we also utilize different concepts of military spending in our analysis. The findings highlight that the impact of military spending on income inequality is negative. The findings are based on second generation panel estimation techniques. One per cent rise in military expenditure explored through the Dynamic Common Correlated Effects Estimation reduces Gini inequality by 2.90 per cent, reduces Theil measure of inequality by 0.12 per cent and reduces Top 20 per cent measure of inequality by 11 per cent. The findings of inequality reducing the impact of military expenditure are confirmed through alternative robustness tests. However, there are also some conflicting conclusions, for example, the application of the non-linear function of military expenditure makes the results sensitive to the different specification of inequality.
The applicability of succession models from temperate and tropical wet forests to threatened seasonally dry tropical forests (SDTFs) is questioned. Plant phenology affects ecosystem functions and ...changes along forest regeneration gradient. To investigate the recovery of ecological functions after disturbances in a SDTF, we recorded the vegetative and reproductive phenologies for trees (DBH >5 cm) for 17 months in southeast Brazil in three successional stages: early (10–15 years after clearing), intermediate (25–30) and late (>50). The vegetative phenology of the 523 individuals was strongly seasonal, with 3% of individuals presenting green leaves in a deciduous dry season. Besides structural and floristic differences, phenological trends were similar between the later stages. Reproduction occurred with higher intensities in the early stage and in the advanced stages only in the dry season, providing key resources to local fauna. The studied SDTF is resilient to ecological functions, rapidly recovering functional processes. The integration of structural and functional knowledge of succession of STDFs may lead to better management of its secondary remnants. Our study suggests that classical forest succession theory developed for other ecosystems may not fully reflect the pattern of SDTF succession, an ecosystem that originally covered 42% of the earth's tropical and subtropical landmass.
The majority of researches deal with the issue of micro-level expenditure in the high season, leaving off-season expenditure an under-researched topic. Moreover, the relationship between tourist ...satisfaction and expenditure has been also rarely explored. Thus, the aim of this study is to determine the factors that influence the off-season expenditure levels of light spenders and heavy spenders. Among the set of predictors, various dimensions of satisfaction were tested as possible off-season expenditure predictors. Descriptive analysis was used for sample profiling, independent t-tests were conducted to determine significant differences between light and heavy spenders in terms of their characteristics, and Principal Components Analysis (PCA) was applied to identify the dimensions of tourist satisfaction with the destination’s offering. In the end, multiple regression analyses were made to identify the expenditure determinants of light and heavy spenders. The main findings indicate that different predictors influence the daily off-season expenditure levels of light and heavy spenders. When it comes to light spenders, among the set of other significant predictors, it was found that those who are more satisfied with the cleanliness and preserved environment tend to spend more in the destination in comparison with those who are less satisfied with this dimension. In the case of heavy spenders, the results revealed that satisfaction with safety, quality and hospitality turned out to be a statistically significant predictor of their daily off-season expenditure.
This paper had a goal to explore the knowledge and spending power, which frequent criteria are for target groups, although they are rarely distinguished in a systematic way. This paper develops ...motivation for a thorough distinction and reveals differences among connoisseurs and spenders within the Croatian wine market. A theoretical model of the two target groups in a framework around the BCG matrix was developed. For the empirical verification, standardized face-to-face interviews were conducted with 307 Croatian wine consumers. For the sake of knowledge, both self-reported and observed measures were used. Our findings confirm that Connoisseurs emphasize particularly functional characteristics of wine that constitute self-related items such as self-fulfillment and social values, while spenders rather emphasize the gastronomy experience of wine. The difference between connoisseurs and spenders can be translated into marketing strategies that emphasize different product attributes and characteristics of wine at different stages of the product life cycle.
Barcelona is a successful tourist destination, but currently it is reaching the limit of its carrying capacity. Consequently, far from increasing the number of visitors and overnight stays, interest ...should be to recruit those tourists that generate the highest average daily expenditure. To achieve this goal, the following procedure was carried out. In a first phase, from a survey of Turisme de Barcelona, the market was segmented based on the average daily spending per tourist. As a result, three distinct and easily identifiable groups emerged. In the second phase, the group of heavy spenders was selected and an in-depth analysis of their behaviour was conducted, both in terms of total expenditure and by specific categories of goods and tourism services. Results allow making recommendations on how to attract the high-spending market. Promoting tourism for middle-age and older travellers, encouraging short stays and intensifying efforts to increase business versus leisure tourism are some of the measures that would help achieve a greater daily expenditure per person. It would also be helpful to design and develop some tourism products that may be attractive to tourists traveling alone.
Purpose
– The purpose of this study is to identify best practices in the implementation of market segmentation via expenditure in tourism research so that the practical potential of this technique ...can be realized. Market segmentation on the basis of expenditure has tremendous practical potential for tourism destinations, yet the volume of research remains slim. This article examines 20 studies of market segmentation based on expenditure in tourism research in order to identify issues and challenges which currently impede the growth of this area and its translation to policy.
Design/methodology/approach
– The studies reviewed are analyzed on four dimensions, namely, the tourism market context, the specification of the expenditure variable, data source and sample size and the methodological approach.
Findings
– To identify commonalities across big spending tourists, tourism markets should be categorized and the expenditure variable clearly specified. Studies using a relatively simple bivariate statistical analysis have more practical usefulness than those using a slightly more complex multivariate approach.
Research limitations/implications
– While the articles studied have been selected to include seminal and widely cited early studies and to provide a broad overview, no other selection criteria were established. The study is not exhaustive, and further research could be more broadly inclusive.
Practical implications
– Expenditure segmentation if utilized by tourism planners can help maximize revenue from smaller tourism numbers. The results of this article show the most useful research path for practical application.
Originality/value
– There is no prior study reviewing the literature using expenditure segmentation in the tourism context. Providing such an overview will facilitate further use of this research tool.
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