Buyer Demand Research Articles

CURRENT CONDITIONS IN TOBACCO PRODUCTION IN MACEDONIA - SUSTAINABILITY ANALYSIS, DEVELOPMENT POSSIBILITIES AND FUTURE PERSPECTIVES

The Republic of North Macedonia, both regionally and globally, is known for producing high-quality aromatic Oriental tobacco. It is a country where quality types of Oriental tobacco are traditionally cultivated, alongside well-known regions in Turkey, such as Izmir and the Aegean region, where there are ecological conditions for producing high-quality Oriental tobacco. As a small continental country in the Balkans, Macedonia represents a "golden triangle" in the process of Oriental tobacco production and a long-term relatively stable traditional producer compared to surrounding countries that also produce this type of tobacco. Driven by the demands of the global market, scientific and technological advancements worldwide, and the available natural, production, and human potentials, it can be stated that today, and even more so in the future, there will be a significant need to elevate the quality of tobacco production to a much higher level, considering the demands of buyers and the need for efficient and effective production. Looking ahead, tobacco production, with certain oscillations, has a stable trend in movements, with gentle upward trends in global production, which our country must also follow and adapt to. The future of tobacco production will largely depend on good agricultural and export policies, as well as good state subsidy policies, all aimed at encouraging and directing the young, capable population towards tobacco production, where they will see not only an opportunity for existence but also space for development, expansion and certainly profit.

Zero‐price effect and consumer welfare: Evidence from online classified real estate service

AbstractWe test whether the tendency to overvalue a free service over a paid alternative may lead to inferior economic outcomes. We examine data from an online classified real estate service in Israel that allows private and commercial owners to offer their real estate properties for sale and lease under either free‐basic or paid‐premium listing categories. Estimation results indicate a zero‐price effect in owners’ choice of a listing category. Moreover, although the vast majority of owners opt for the free‐ad category, the paid‐premium category generates increased buyer demand, greater transaction price, and decreased time‐on‐market—adding up to an average net benefit of about 3.5%–3.8% of the average transaction price (equivalent to about $12K–$13K). Outcomes are robust to a series of identification and test‐design issues.

Blockchain-Based Computing Resource Trading in Autonomous Multi-Access Edge Network Slicing: A Dueling Double Deep Q-Learning Approach

We investigate the computing resource allocation in multi-access edge network slicing (NS) in the context of revenue and multi-access edge computing (MEC) resource management. The significant variety of slice resource utilization levels across slice tenants (i. e., Mobile Virtual Network Operators (MVNOs)) challenges MEC resource management in NS with MEC, leading to virtual machine resource (VMR) (i. e., computing resource) wastage or scarcity. As a result, for efficient MEC resource management, the infrastructure provider (InP) encourages dynamic resource sharing and trading (DRST) of unutilized slice VMR quotas. Nevertheless, cellular network security and privacy issues deter MVNOs from collaborating on effective DRST. The security characteristics inherent in blockchain have recently gained much interest for secure resource trading. Thus, this paper proposes a unique hierarchical blockchain-based inter-slice computing resource trading (ISCRT) scheme for peer-to-peer (P2P) MVNOs in an autonomous multi-sliced MEC-based 5G network. For secure ISCRT transactions, a consortium blockchain network with hyperledger smart contracts (SC) is designed. We model the demand and pricing problems of buyer and seller MVNOs for the unutilized VMRs using a two-stage Stackelberg game. Then, to obtain the Stackelberg equilibrium (SE), an enhanced dueling double deep Q-network (D3QN) algorithm is proposed, which intelligently determines the optimal demand and pricing policies of MVNOs for the unutilized VMRs during ISCRT transactions at negotiation intervals. Simulation analysis shows that the proposed enhanced D3QN algorithm outperforms benchmark schemes in terms of the MVNO slice-level satisfaction and VMR utilization while reducing double-spending attacks in ISCRT settings by 16% and increasing both players’ utility.

Decision support technology for a seller on a marketplace in a competitive environment

This article deals with the problem of improving the effectiveness of a marketplace. The stakeholders of a marketplace are buyers and sellers. The objects are the aggregate of homogeneous products. The effectiveness of the trading platform, which can be characterized by the number of transactions made, will depend on how sufficiently the sellers put up offers. The paper looks at mathematical models to support the decision-making of the seller in making such offers. Focusing not only on the buyer demand but also on the presence of competitors on the site is a distinguishing feature of the models. To describe the competition, the apparatus of game theory is offered, namely the normal form of the game with a bimatrix model with two players: the seller – customer of service and the coalition of other sellers. To match offer and demand, as well as to find the probability of a transaction, fuzzy set theory and aggregation using the Choquet integral are used.

Consumer Preferences for Residential Real Estate Properties among Interested Buyers in Laguna Province, Philippines, before and during the COVID-19 Pandemic

Purpose – This study assessed the consumer preferences for residential real estate properties among interested buyers in Laguna, Philippines, before and during the COVID-19 pandemic. Design/Methodology/Approach – Interested property buyers in Laguna were randomly selected and characterized based on their socio-demographic and economic characteristics, and their COVID-19 experiences were described. Consumer preferences for different aspects of housing units were examined descriptively and using McNemar’s test, changes in preferred attributes of residential units before and during the pandemic were compared. Findings – Single-detached economic housing with three bedrooms was the most preferred type of unit of interested buyers. It was found that the higher the monthly income of respondents, the higher the property value they preferred to purchase. Los Baños is the preferred municipality to live in because of its proximity to the metropolitan capital. The preferred mechanism of ownership is either rent-to-own or via a loan. Those earning a monthly income of PhP 131,484 (USD 2,708.77) to PhP 219,140 (USD 4,514.63) preferred to purchase residential property in cash. As for attributes, proximity to highways, proximity to community services, proximity to houses of family and friends, presence of swimming pool, presence of sense of community, secured and guarded community, quiet surroundings, presence of panoramic views, and pet-friendly home and community are statistically significantly different. Research Implications – Residential real estate developers should respond to various differences in consumer preferences. To continue satisfying prospective buyer demand and successfully close sales, it is vital to consider these consumer preference changes relative to residential projects.

The transaction price prediction of second-hand cars based on model fusion

With the gradual improvement of the second-hand car trading market, buyers and sellers are increasingly demanding a more orderly market, and price forecasting plays an important role in regulating the market order. On one hand, buyers hope to buy second-hand cars with better quality at a lower price. On the other hand, the seller wants to know what the buyer's demand is, so as to better sell second-hand cars in the market. Therefore, the reasonable prediction of price plays an important role in regulating the buying and selling market. At present, some machine learning models, such as neural networks, tree models are very mature in regression prediction technology. By using the above algorithm for modeling, the model can play the function of reasonably predicting prices, so as to meet the needs of both buyers and sellers. Therefore, in this paper, the author predicts the second-hand car transaction price through modeling around some machine learning algorithms, and analyses the performance of the model.

Optimizing supply chain strategies for deteriorating items and imperfect manufacturing under carbon emission regulations

In recent years, the reduction of carbon emissions from supply chains has become a critical concern. This paper presents a three-echelon supply chain inventory model that considers carbon emissions from manufacturing, transportation, storage, and disposal of deteriorating products. The model includes an inspection by the manufacturer to prevent the supply of defective goods and utilizes a third-party logistics company (3PL) that employs a single setup, multiple delivery system. The aim is to apply various regulatory strategies, such as carbon tax, carbon offset, and carbon cap-and-trade, to minimize expected total cost and decrease carbon emissions. The model determines delivery numbers, intervals, and quantities for the 3PL and buyer, as well as the manufacturing quantity for the manufacturer, based on buyer demand. The study concludes that the carbon cap-and-trade strategy is the most effective of the three regulatory strategies analyzed. The proposed model helps supply chain managers reduce their carbon footprint by making informed decisions on inventory, transportation, storage and disposal strategies. This study's findings provide valuable insights to policymakers on effective carbon regulation policies and the development of sustainable and cost-effective supply chain management practices.

157 Thoroughbred and auction characteristics that impact bid price when sold at online auctions

Thoroughbreds are best known for their careers as racehorses, a career that often concludes between the ages of 3 and 6. After racing, Thoroughbreds can perform successfully in other disciplines like eventing and dressage. However, the owner demand for off-the-track Thoroughbreds (OTTBs) as mounts for second careers is not well characterized. Therefore, the objective of this study is to quantify the buyer demand for OTTBs that have started second riding careers and are being marketed through a virtual auction. Horse and auction characteristics were collected on 170 Thoroughbred horses across 39 online sport horse auctions between 2012 and 2020. Data were analyzed using ANOVA (α = 0.05) and mean separations were assessed using Tukey's HSD when appropriate (STATA 16). Bids ranged from $100 to $20,000 and the average was $2,528.25 ± 3,011.37 (mean ± SD). Horse age impacted (P = 0.001) the bid price, where each additional year increased bid price by $430.50 ± 158.7. However, when the age was squared to model an aging horse, bid price decreased (P = 0.001) with age (-$22.91 ± 6.74). Additionally, geldings brought a premium of $924.08 ± 427.84 over mares, displaying buyer preference for geldings. Horse color, especially chestnuts ($1,071.07 ± 555.28;P = 0.05) and grays or roans ($1,054.05 ± 536.41; P = 0.05), brought premiums over bay or black horses. Horse height did not (P > 0.05) impact bid price, nor did Jockey Club registration (P > 0.05) or previous training in most English riding disciplines (P > 0.05). Horses listed as trail riding mounts, though, received discounts (-$1,599.46 ± 604.58; P = 0.001) compared with other disciplines. Of the auction logistics, only registration in USEF or USHJA or USEA affected (P = 0.01) bid price, where registration increased sale price by $1,967.33 ± 820.24. This interest shows that bidders value horse registration and could suggest a valuable tool for sellers to increase their horse's bid price. By characterizing the discounts and premiums for horse and auction characteristics, equine bidders can better expect what a horse may sell for, and which attributes could lend them more competition when actively bidding. Additionally, sellers can use this information to not only calculate what premiums or discounts their horse may sell with, but sellers can increase their horse's bid by enhancing their profile with registration.

ESTIMATING VALUE UPLIFT FROM TRANSIT INVESTMENTS IN SUBANG JAYA, SELANGOR USING DIFFERENCE-IN-DIFFERENCE METHOD

It is generally believed that public transport investment such as urban rail transit systems can improve accessibility, particularly in larger and denser metropolitan areas. The improved accessibility provided by urban rail transit systems can drive up the value of surrounding land or property due to increased buyer demand. Based on this general belief, the study estimates the impact of the Kelana Jaya LRT line extension on residential property values in Subang Jaya, Selangor. Using Difference-in-Difference (DID) method with transaction-based data of 1,006 terraced properties, it is estimated that a typical terraced unit located within 0.8 km of the nearest LRT station and be sold during the construction phase of the project and after the system became operational would fetch a respective premium of approximately 4.7% and 5.3%, or RM31,490 and RM35,510 on average. It is also estimated that the overall impact on the price of terraced properties located within 0.8 km from the nearest LRT station in Subang Jaya, amounts to nearly RM11.6 million. An interesting accounting implication arising from this potential revenue is that it could provide a significant financial incentive to fully or partially fund urban rail transit projects in the Greater Kuala Lumpur area.

Factors Affecting Thoroughbred Online Auction Prices in Non/Post-Racing Careers.

Racehorse welfare is a prominent, public issue which affects nearly every aspect of the racing industry. Thoroughbred care after race career completion has garnered increasing attention from the equine industry, general public, and animal welfare groups alike. As the average racehorse's career lasts just 4.5 years, owner demand for thoroughbreds is essential for post-race careers and acceptable welfare standards. This study utilized data from and hedonic pricing models to analyze buyer demand for thoroughbreds sold in online auctions held from 2012 to 2020. The results indicate buyer preferences for age (p < 0.01), sex (p < 0.05), and organization registration (p < 0.05), with bid price premiums for age and registration status (USEF, USEA, USHJA, etc.) and price discounts for mares compared to geldings and horses listed for non-competition careers (trail, p < 0.01). The results of this study confirm and quantify the value potential buyers place on thoroughbreds offered for sale in sport disciplines. The findings may help non-profit organizations charged with rehoming off the track thoroughbreds and reduce the number of unwanted thoroughbreds by illustrating the desired traits and skills within the equine market, thus improving welfare optics overall.

Consumer Perception towards Online Shopping

Electronic marketing is a major change in the age of globalisation. Most businesses have been embracing technological change over the past ten years. Using technology, especially computers, to improve marketing results is known as online shopping or marketing. Likewise, businesses are busy researching consumer behaviour in order to develop ways to fulfil the demands of online buyers. To determine consumer attitudes towards online shopping, look at how people behave in the online shopping space. In light of this, we have also chosen to research consumer views on online buying, with a focus on the elements that motivate people to do so. According to our research's findings, website design and features are the most alluring and influential element for online consumers in the Patna District, with convenience coming in second place and time savings coming in third. According to the results, Indian internet customers are very concerned about security. Besides from pricing, discounts, user reviews, and product quality, the research also identified a number of additional variables that affect online buyers. The results of the link between age and attitudes about online buying, which was the second study question, revealed that older adults are less likely to be avid online consumers. More education reduces the allure of online buying, it has been found, but the connection results for income were so weak that no conclusions could be drawn from them.

Optimisation of the Single-Vendor Single-Buyer Supply Chain System under Fuzzy Demand Using Optimisation–Simulation Closed Loop Technique

This research aims to model and optimise the most applicable supply chain system, which is a single-vendor single-buyer system with fuzzy buyer demand. An optimisation model of the supply chain system under consideration is built by formulating the objective function, which is minimising the joint total cost between a buyer and a vendor. The model is developed on the basis of a simulation system, and optimisation is carried out by utilising a Genetic Algorithm that has been embedded in the simulation system. This technique is called optimisation–simulation closed loop. The vendor actual condition, which deals with uncertain demands from the main buyer and other small buyers, is considered. To analyse timely supply chain events, a simulation system is developed. A new optimisation model for the single-vendor single-buyer supply chain system with fuzzy demand is developed on the basis of the simulation system. The use of optimisation–simulation closed loop is also a new finding. In this study, the optimisation model of the supply chain under consideration is developed by taking into account a specific condition in which the vendor receives demands from the main buyer and other small buyers. Naturally, buyer demand is uncertain and has been modelled using a fuzzy set. The use of optimisation–simulation closed loop enables the supply chain to make the optimum decision when at the steady state condition.

Freedom of lifetime maintenance (care) contract regarding its termination

The article is devoted to the definition of the features of the discovery of the freedom of the contract of lifelong support (care) regarding its termination.&#x0D; The freedom of the contract of lifelong maintenance (care) regarding its termination is manifested in the following moments: 1) termination of the contract by agreement of the parties; 2) termination of the contract at the request of one of the parties. This general principle of civil legislation is applied under the condition of validity of the contract and lack of full fulfillment of the obligation under this contract.&#x0D; The agreement of the parties to terminate the contract refers to the general basis for terminating the contract of lifelong maintenance (care). The right to terminate the contract is exercised by concluding a contract termination agreement, if the reason for their decision was a significant change in the circumstances that the parties were guided by when concluding the contract.&#x0D; The request of one of the parties to terminate the contract is a general ground for terminating the lifetime maintenance (care) contract in the following cases: 1) significant breach of the contract by the other party; 2) lack of agreement of the parties to bring the contract into line with circumstances that have changed significantly; 3) lack of agreement of the parties to terminate the contract. The peculiarity of determining the materiality of a breach of contract by the other party is that the fact of causing damage and its significance are irrelevant.&#x0D; The freedom of the contract of lifelong maintenance (care) regarding its termination on special grounds is characterized by the following: 1) the acquirer has the right to demand the termination of the contract regardless of the reason for the declaration of this demand; 2) the buyer's demand for termination of the contract due to the impossibility of his further performance of the contract due to reasons of significant importance, is important for the onset of legal consequences in his favor; 3) the alienator has the right to terminate the contract in connection with non-performance or improper performance of his duties by the acquirer.

Vertical and horizontal diffusion of labour standards in global supply chains: working hours practices of tier-1 and tier-2 textiles and garment suppliers

This paper explores the diffusion of working hours standards beyond tier-1 suppliers in the garment supply chain. It compares working hours designs and rationales of tier-1 and tier-2 garment suppliers in Jordan and garment and textiles suppliers in Egypt. Building on the idea of crossvergence, the paper extends previous insights on explanatory factors that are rooted in the supply chain and captures global, local, and firm-level rationales. The analysis followed a flexible pattern matching logic and draws on a qualitative multiple-case study encompassing 30 owner-manager interviews, 13 expert interviews, and multiple documents and field observations. Convergence to global standards was found to be higher in tier-1 compared with tier-2 garment firms and differed between the garment and the textiles industry. The study showed that labour standard demands of global buyers dissolve along the supply chain, while the price and lead time squeeze persists or increases. How suppliers navigate the antagonism of labour standard and procurement demands depends upon local level factors and firm resources. A framework of human, intellectual, physical, and financial resources was developed to capture structural differences between higher- and lower-tier suppliers. The findings underscore the need for new procurement strategies of global buyers and tier-1 suppliers, and further investments in multi-stakeholder initiatives that monitor sub-suppliers, support resource development, and address systemic barriers to labour standard compliance.

Use of Business Models of the Aggregator in the Market of Commodities (Petroleum Products)

One of the events of recent years is the development of Internet commerce. B2C Internet trading is carried out through various aggregators. The demands of buyers and sellers in complex markets for commodities have similarities to the B2C market. In the conditions of online trading, sellers significantly automate and increase sales volumes, and buyers receive a choice of offers and a wide choice of products. When choosing the form of an aggregator in the B2B market, the market features and the product properties have a special fixation. The oil products distribution market in Russia is actively introducing new technologies into business. The main criteria for segmentation in this market is a commodity. Petroleum products are natural goods with unique properties, the key characteristic of which is the natural quality standard. Thus, when developing an aggregator model for commodities, the sales process, providing access to real-time information on the volume of demand and supply, high speed of implementation and safety of cases, as well as the availability of necessary services are especially important. The article proposes a model of the B2B-hub aggregator in the oil products commodity distribution market to improve the efficiency of doing business for buyers and sellers.

KONSELING PENINGKATAN PEMASARAN PRODUK INOVATIF DISTRUPTIF MENUJU UMKM TANGGUH DAN BERKELANJUTAN DI DESA MARGAWANGI KECAMATAN LEUWIDAMAR KABUPATEN LEBAK

Banana crackers, processed jengkol and woven from bamboo are MSME businesses in Margasari Village, Kec. Leuwidamar Kab. Lebak Prov. Banten which is traditionally managed by women who have expertise in making crackers after completing their duties as housewives. By providing several variants according to buyer demand, both small, medium, and large variants which are still marketed traditionally (the deposit system) without any promotions either through digital or other media. The method that the author uses is to provide an understanding to the manager of these crackers how to increase sales with digital media or using Smartphones. The author's submission is done orally and also the practice of using social media such as Facebook, Instagram, Youtube and others. The result of this counseling is the emergence of a deep understanding that today's marketing has been done digitally and this saves a lot of time with the reach of buyers outside Margasari Village, Kec. Leuwidamar. MSMEs banana crackers, processed jengkol and woven from bamboo in general are very promising to support the family economy of each manager, what must be done is obtaining permits, repacking, and variants that attract buyers as well as technological support in processing raw materials to finished goods

The Propagation of Demand Shocks through Housing Markets

Housing demand stimulus produces a multiplier effect by freeing up owners attempting to sell their current home, allowing them to reenter the market as buyers. Exploiting a shock to first-time home buyer demand caused by a cut in mortgage insurance premiums, we find that homeowners buy their next home sooner when the probability of their current home selling increases. We build and calibrate a search model that explains these findings as a result of homeowners avoiding the cost of owning two homes simultaneously. Simulations demonstrate that stimulus to home buying generates a substantial multiplier effect, particularly in cold markets. (JEL R21, R31, R38)

Single-cluster systematic sampling designs for shark catch size composition in a Central American longline fishery

Sampling designs for collection of shark size composition data are needed to fill one of the primary knowledge gaps hampering management of shark fisheries in Central America. These designs need to be tailored towards multi-species fisheries with highly structured landings, which are driven by buyer demand in port. In addition, due to the difficulty of maintaining catch quality outdoors in a tropical environment, the designs ideally would have minimal impact on the often-rapid catch landing process. In this study, simulations based on data from exhaustively sampled landings of Costa Rican mediana escala (78 landings) and avanzada (21 landings) commercial longline vessels were used to test single-cluster systematic sampling designs for estimating size (commercial weight category) composition of retained catches of shark species, as well as of other taxa present in landings with sharks. The wide range in numbers of sharks per landing led to sampling designs for which the frequency of within-landing sampling depended on the number of sharks to be landed. Designs for shark-only sampling and sampling of all taxa were tested. For the mediana escala fleet component, these designs performed well in terms of absolute relative error (ARE) for common species in the landings, including the silky shark, the dominant shark species, and swordfish, striped marlin and yellowfin tuna. There was less than a 5% chance that the ARE would exceed 0.2 for most weight categories of these species, even at the lowest sampling frequency. For all but the large weight category of striped marlin, there was only a 2% chance (or less) that the ARE would exceed 0.3. These results suggest that a single sampling design can be implemented for this fleet component to obtain estimates of the size composition of common shark and non-shark species, alike, in landings with sharks. For relatively uncommon shark species in the landings, such as hammerhead and the pelagic thresher sharks, the same sampling designs generally resulted in higher ARE, except for the dominant weight categories (small hammerhead sharks and large pelagic thresher sharks). However, the level of error itself associated with these designs may still be acceptable, depending on management needs; ARE can provide an overly pessimistic evaluation of performance for uncommon species. For landings of the avanzada fleet component, the performance of the shark-only sampling scenarios for the silky shark was generally similar to the results obtained for the mediana escala fleet component, except for the large weight category, although performance for this weight category, as measured by error, might still be acceptable. However, differences in performance between the shark-only and the all-fish scenarios for the silky shark raise the concern that the number of landings of avanzada vessels available for this analysis may be too small to make a definitive statement about sampling design performance for this fleet component. Development of sampling designs for the avanzada fleet component would benefit from an increase in sample size for analysis and a more detailed study of landing characteristics.

The Evolution of Zimbabwe’s Tobacco Industry: From Colonial Klondike to Contract Farming

This article outlines the historical and contemporary landscape of tobacco production and marketing in Zimbabwe. It highlights patterns of boom and bust dependent on global demand, trading frameworks and degrees of government support to the industry, which are reminiscent of cycles of tobacco production elsewhere in the region. It illustrates at the national and farm level the importance of diversified marketing channels: how the Zimbabwean tobacco industry has twice been at the intersection of two distinctly different global tobacco markets and has, with varying degrees of success, managed to survive and thrive by balancing the competing demands of buyers in these different domains. At the farm level, peasants now also have diversified marketing channels and are able to select between the auction floors and a range of contracting companies. The article outlines a case study of contracting practices in Mashonaland East and highlights that there is currently a lack of functional organisational platforms that can help to redress power imbalances between peasants and contracting companies. It concludes by outlining an incremental approach to setting a regulatory framework that can set sufficient checks and balances for producer associations to hold contracting companies to account.

Market Share Contracts in B2B Procurement Settings with Heterogeneous User Preferences

Market share contracts, a form of loyalty discounts, where the discount is contingent on the buyer meeting or exceeding a target share of total procurement, are used in many business to business (B2B) settings. We study the impact of such contracts on demand allocation, prices, and welfare in a setting where a single central B2B buyer procures multiple units of a product on behalf of a set of users with heterogeneous preferences. We find that linear pricing creates a demand distortion, which goes away with the use of market share contracts. These contracts serve as strategic tools for vendors whose products are strongly preferred by a substantial fraction of the users in the buying organization to shift the locus of competition and extract away rents from weaker rivals, and sometimes from buyers. The impact of such contracts on the welfare of the buyers is therefore ambiguous, but when these contracts are used, the overall surplus goes up as disutility from demand distortion is avoided. While both quantity threshold contracts and two‐part tariffs can replicate the efficiency properties of market share contracts when demand is deterministic, they cannot guarantee the avoidance of demand distortion when buyer demand is uncertain.