Market Processes Research Articles

The Enrichment Economy: Market Dynamics, Brand Strategy, and Ethics

Rare watches, fine wines and spirits, sports cars, designer sneakers, and many other luxury goods create massive enrichment opportunities for consumers if they resell them on secondary markets. This trend is part of the enrichment economy, a novel form of market arrangement wherein consumers use iconic goods to increase their capital. However, it creates challenges for brands, such as preserving their primary market desirability and avoiding cannibalization. To understand how brands can navigate the enrichment economy, the authors conducted an ethnographic study of the luxury watch industry. They draw on market system dynamics to theorize market processes that sustain a market within the enrichment economy, and they explain the shared discourses, norms, and practices that make the enrichment economy function. This research makes four contributions. First, the authors theorize primary–secondary market dynamics as a novel class of market dynamics. Second, they theorize the new role of luxury brands as enrichment curators. Third, they discuss the ethics of enrichment by highlighting inequalities and risks it creates. Fourth, this research introduces the enrichment strategy as a novel brand strategy that capitalizes on the market dynamics of enrichment. The authors offer recommendations for luxury and nonluxury brands on product portfolio management, customer relationship management, and ethical innovation.

Access to medicines for the treatment of chronic diseases in Chile: qualitative analysis of perceived patient barriers and facilitators in five regions of the country

BackgroundAccess to medicines is one of the most serious public health problems globally, and Chile is not an exception. The aim of this study was to explore patients' perceptions, beneficiaries of both public and private health sectors, of barriers and facilitators in access to medicines in general, and those associated with the treatment of diabetes, dyslipidemia and hypertension.MethodsTen focus groups of patients with these diseases, diagnosed for at least six months and with prescribed medication, were carried out in five regions of Chile: Arica (north), Aysén (south), and Valparaíso, Metropolitan, and Maule (center).ResultsThe experience of access to medicines is determined by the insurance system, the experience of care with public or private providers, and geographical-administrative difference between capital and other regions. Beneficiaries of public sector value territorial coverage of primary care, which guarantees access in isolated areas and, despite their greater socioeconomic vulnerability, perceive greater protection in access (access conditions, delivery reliability and adherence to pharmacological treatment). The main problem observed is the financing of treatments not covered by the system. Beneficiaries of private sector perceive that they have access to medicines of better quality than those provided free of charge by public sector, but raise fears associated with the inability to afford them and distrust in the market process. Regarding the type of provider, public sector shows greater capacity for user loyalty, which is expressed in regular visits and follow-up, unlike discontinuous examinations among private sector beneficiaries.ConclusionsDifferent access conditions both at the territorial level and in the health subsystems are evident. It is necessary to make progress in addressing the problem of access to medicines in a comprehensive manner.

On marketization and public spending growth

Abstract I contribute to the literature on the growth of public spending in Western economies with a novel mechanism that ties it to the marketization process, i.e. the substitution of home with market production. I argue that a key contributor to the expansion of social spending is the replacement of family-based transfers with public pensions and other public transfer programs. I provide empirical support for this hypothesis by establishing the long-run relationship between government size and marketization, alongside other established determinants of government spending, in a panel of Western economies. I then illustrate a potential mechanism behind the results with a theoretical model in which, as a result of the productivity advantage of the market over the home sector, family-based intergenerational transfers decline unexpectedly, providing a rationale for government intervention in the form of public pensions with a poverty relief component.

Penerapan Asas Konsensualisme dalam Perjanjian Jual Beli Kacang Tanah di Desa Taman Kec. Jrengik Kab. Sampang

An agreement according to article 1313 of the Civil Code explains that "An agreement is an act in which one or more persons bind themselves to one or more other persons". Which in this case is an agreement according to K.R.M.T Tirtodiningrat, an agreement is a legal act based on an agreement between two or more parties, which as a result of the law can be fulfilled by the provisions of the applicable law. A sale and purchase agreement is an agreement in which one party binds himself to hand over an object and the other party to pay the price of the object that has been agreed. This research is entitled "The Application of the Principle of Consensualism in the Peanut Sale and Purchase Agreement in Taman Village, Jrengik District, Sampang Regency". The purpose of this study is to find out how the principle of consensualism is applied in the peanut purchase and sale agreement in Taman Village and what are the legal consequences that will be obtained for parties who violate the principle of consensualism in the peanut purchase and sale agreement in Taman Village, Jrengik District, Sampang Regency. Thus the study uses empirical research methods. This research method is an approach that prioritizes the use of real evidence and in-depth observation as the basis for his research work. In the results of observations that have been made by researchers on the application of the principle of consensualism of peanut buying and selling agreements in Taman Village, Jrengik District, Sampang Regency, as the times go by, many residents have applied the principle of consensualism in the buying and selling process.

Marketing Strategy for Savings Fund Collection Products at PT. BPRS Lantabur Tebuireng Gresik Branch

This study aims to identify the marketing strategies used by BPRS Lantabur Tebuireng, Gresik Branch in promoting savings fund collection products, and to understand the role of these strategies in the marketing process of these products. This research uses a qualitative methodology that applies a descriptive approach, where the research findings are presented in depth in narrative form to facilitate understanding. For data collection, researchers utilize various techniques, including observation, documentation, and interviews. The informants of this study consisted of funding officer staff of BPRS Lantabur Tebuireng, Gresik Branch and savings customers at the branch. The problem experienced by BPRS Lantabur Tebuireng, Gresik Branch is what marketing strategy is used by BPRS Lantabur Tebuireng, Gresik Branch in marketing Savings Fund Collection Products. The first finding shows the ball pick-up strategy used by BPRS Lantabur Tebuireng, Gresik Branch. The second finding shows what obstacles occur during the implementation of the ball pick-up strategy. The third finding shows which Savings products are most in demand by customers. According to the results of the discussion, the outreach strategy has proven successful in marketing savings products.

Pengaruh Strategi Marketing Mix Terhadap Keputusan Pembelian pada Alyasini Mart Rembang

In keeping up with the development of the lifestyle of the surrounding residents. As well as business strategy movements such as minimarkets such as Indomart and Alfamart that are familiar everywhere, performance efforts to retain Alyasini Mart minimarket consumers are very important in order to plan the overall marketing communication program process or marketing mix. This study aims to explain the influence of marketing mix strategy on purchasing decisions at Alyasini Mart Rembang, and among the variables are products, prices, promotions, locations. To measure the above influence, the researcher used a quantitative approach with a sample survey type, this study was 100 respondents who were consumers of Alyasini Mart. The data analysis used is analysis with multiple regression analysis, validity test of classical assumption test, hypothesis test (T and F test) with the help of spss, the results of this study show that product variables partially have a positive and significant effect on purchase decisions. Price partially has a positive and significant impact on purchase decisions. Promotions partially have a positive and significant impact on purchase decisions. Places partially have a positive and significant influence impact on purchase decisions. Marketing Mix (Product, Price, Promotion, Place) simultaneously has a positive and significant influence on purchasing decisions at Alyasini Mart Rembang.

НАУКОВІ ПІДХОДИ ДО РЕАЛІЗАЦІЇ ЕКОНОМІЧНОЇ БЕЗПЕКИ У ПІДПРИЄМНИЦЬКОМУ СЕРЕДОВИЩІ

Introduction. The current state of enterprises in war can be described as extremely threatening and risky. The dynamism of market processes forces business entities to consider all potential and existing threats to make the right strategic decisions. External factors of the market environment are often characterized by asymmetry and periodic cyclicality, including economic downturns and depressive phases of stagnation. The purpose of the article. The article aims to study various scientific approaches to ensuring economic security in the business sector in wartime. Methods. The current state of enterprises in wartime is extremely threatening and risky. The dynamism of market processes requires business entities to consider all potential and existing threats to make the right strategic decisions. External factors of the market environment are often characterized by asymmetry and periodic cyclicality, including economic downturns and depressions. Results. When considering the role and significance of microeconomic processes at the enterprise level, they should be understood as factors of macroeconomic reproduction at the state level, which is the result of entrepreneurial activity. Conclusions. Based on the analysis, we can draw several general conclusions: The economic security of an enterprise is part of the country's national security and depends on many factors. Economic security is characterized by the ability of an enterprise to achieve stable operation by strategically eliminating and confronting threats and risks. It is proposed that economic security be considered a system of protection for the enterprise's activities from various negative factors of internal and external origin. It also includes the ability of an enterprise to use various resources and approaches to eliminate risks and threats and achieve well-being. Achieving an adequate level of economic security is possible in the context of globalization and the European business development scenario. The essence of the economic security of enterprises is most fully revealed through economic and legal, information and technological, reproductive, and personal approaches.

The impact of green credit on the green transformation of the manufacturing industry

Abstract Manufacturing's green transformation is essential for advancing high-quality development. Green credit, which functions as a market-driven tool, offers support for achieving this transformation. Using manufacturing data from 30 provinces in China from 2005 to 2020, this research establishes a theoretical framework to analyze how green credit and marketization levels influence manufacturing’s green transformation. This research also provides an empirical analysis of how green credit influences this transition. The results are as follows: first, the growth of green credit plays a significant role in driving the green transformation of the manufacturing sector, with this finding remaining valid after a series of robustness and endogeneity tests. Second, the mechanism analysis shows that green credit supports the environmentally friendly transformation of the manufacturing industry through an improvement in R&D intensity. Third, moderation testing reveals that the process of marketization significantly strengthens the positive effect of green credit on the promotion of manufacturing's green transformation Among them are the following, the relationship between the government and the market and the development of the product market inhibit the role of green credit in support of the green transformation of the manufacturing sector. The development of factor markets, the development of non-state-owned economies, and the development of market intermediary organizations and the legal system environment exert a facilitating function, which significantly enhances the positive effect of green credit in the promotion of the green transformation. The conclusions provide fresh insights and empirical evidence for advancing manufacturing's green transformation and hold practical significance for refining green credit policies and advancing market-oriented reforms.

Stakeholders engagement model- Social Marketing strategies to improve students’ eating behaviour

Abstract Previous studies have adopted the social marketing framework to investigate change behaviours towards healthier eating habits. However, despite the unequivocal link between Mediterranean Diet and healthy eating, the adoption of social marketing strategies to foster the adherence to such food pattern, remains unexplored, particularly in the context of HEIs. One research goal was to develop a stakeholder engagement model, in order to better craft social marketing strategies aligned with stakeholders’ needs. Hence, as different stakeholders call for different engagement designs, we consider that crossing the Social Marketing Framework with the Stakeholder Engagement Model, provides a solid basis to understand how to engage key stakeholders in the implementation of a program aimed at changing and influencing healthier eating habits aligned with the Mediterranean Diet within public HEIs canteens. Behavioural change in such contexts, demands a systemic and holistic approach, able to engage a diverse range of stakeholders, beyond those whose behaviour is expected to change. Social Marketing provides a strategic framework to promote behavioural change towards collective welfare. In the specific context of public health interventions towards healthier eating habits, this framework has been particularly useful. Hence, in-depth understanding on which stakeholders need to be involved in the social marketing process and at what stages, may yield insights into why some interventions change behaviour and why others do not. Findings revealed that it is not enough to create a single stakeholder engagement model throughout the social marketing plan in a more global perspective, as if one solution fits all. This study highlights the importance of designing glocal social marketing strategies, embedding glocal models of stakeholder engagement: standardizing the tools and practices that are possible and adapting what is necessary so that it has success in different national realities

Factors Influencing the Effectiveness of Enterprise Marketing Communications

Theoretical background: Marketing communication is a key element of marketing, supporting tasks such as information, image building and customer acquisition. The effectiveness of communication depends on many factors, including the methods and tools used as part of an integrated marketing strategy. Digital transformation has significantly affected the ways consumers are reached, forcing marketers to adapt traditional methods to new technologies. Consumers, more trusting of each other than of companies, are becoming active marketers, increasing the importance of online communication. Modern marketing communication relies on synergies between old and new media, and on building a strong brand as the basis for a successful strategy. Purpose of the article: The aim of this article is to analyse the literature on the topic and, on this basis, to try to answer questions related to communication processes in marketing: How has communication changed in recent times? What factors influence the effectiveness of marketing communication? What currently has the greatest impact on marketing communication in a company? To answer the questions, articles containing the topics under study and found in the SCOPUS database were analysed. Research methods: Scientometric and bibliometric techniques were used as the research method, analysing citations and co-occurrence of keywords. Articles written between 2000 and 2023 were analysed. The papers analysed were grouped into 4 periods: Period I – 2000 to 2010; period II – 2011 to 2015, period III – 2016 to 2020 and period IV – 2021 to 2023. A score of more than 100 publications was obtained and, in the next step, limiting the number of publications, the criterion of the number of citations was adopted. A ranking of the best-cited articles was developed in each period, and based on these, factors influencing the effectiveness of the marketing communication process were analysed. Main findings: Through a comprehensive literature review on marketing communication, the factors influencing marketing communication that change over time have been identified in tabular form. A model was proposed that summarises the factors influencing the effectiveness of marketing communication in a collective way.

Consumer Risk in the Purchasing Process in the Organic Food Market

Risk is an inherent part of our lives and every action we take. It accompanies us in various areas of our lives. Each of us encounters risk in everyday life by undertaking and performing specific activities or actions. Risk is not always perceived by us; there are situations when we do not notice it in our actions. The main objective of this article is to identify and assess the factors influencing the level of risk in consumer purchasing decisions in the organic products market. Additionally, it aims to indicate the desired directions of actions taken by producers and suppliers of organic food to reduce the risk associated with the purchasing process perceived by consumers. The research process took into account existing scientific achievements and the survey method, chosen due to the subject and nature of the research. The survey was addressed to consumers from the Lubuskie Voivodeship and was anonymous. The conducted research shows that the greatest risk perceived by consumers is in the case of online purchases, and the way to reduce this risk is through buyer loyalty to the place of purchase. The empirical research also provides grounds to assume that there is a relationship between individual types of risk. The research shows that respondents are most afraid of safety and social risk, and the least afraid of the risk of losing too much time. Consumers who want to reduce the risk use their own experiences or positive opinions about the product. The results provide valuable information for producers and suppliers of organic food who want to build lasting relationships with consumers based on trust and loyalty. The higher the trust, the greater the customer loyalty, and the lower the perceived risk.

Optimization model for distributed energy trading based on a market value allocation mechanism in the electricity spot market

This study proposes a novel distributed energy trading market model with a value distribution mechanism to optimize the allocation and transactions of distributed energy resources (DERs). The framework incorporates a direct load management approach via an electricity aggregator agent, simplifying market processes and reducing transaction costs. A Nash bargaining model is employed to design a fair and efficient value distribution mechanism, promoting equitable benefit allocation among participants. The model integrates stochastic programming to account for uncertainties in real-time load and DER output, enhancing its robustness and applicability in real-world scenarios. The proposed mechanism quantifies each DER’s contribution using a market value contribution rate, serving as a foundation for the Nash bargaining model. This approach ensures individual rationality for both the aggregator and DERs while maximizing overall system benefits. Case studies validate the model’s effectiveness, demonstrating improvements in resource utilization and fair benefit allocation. This research contributes to the advancement of distributed energy markets, offering valuable insights for designing efficient and equitable market structures, ultimately promoting grid stability, renewable energy adoption, and the development of more sustainable and flexible energy systems.

The Influence of Market Competition on SMEs’ Performance in Emerging Economies: Does Process Innovation Moderate the Relationship?

Small and medium enterprises (SMEs) are vital to the economic development of emerging economies, significantly contributing to employment, innovation, and GDP growth. This study investigates the influence of market competition on SME performance in emerging economies, specifically examining the moderating role of process innovation. Using a sample of 365 SMEs in the western region of Ghana, the research employed a convenience sampling technique to gather data. The analysis utilized partial least square structural equation modeling (PLS-SEM) to explore the relationships between market competition, process innovation, and SME performance. The findings revealed that three direct hypotheses were supported, indicating a positive relationship between market competition and SME performance, while the moderated hypotheses were not supported. These insights provide valuable implications for SME owners, managers, and policymakers.

Green and economical transesterification of castor oil for biodiesel production via a novel bentonite based Li2SiO3-LiAlO2 composite: Process technology & production feasibility

In our work, a highly efficient Li2SiO3-LiAlO2 composite was designed via a simple solid-state reaction using bentonite as raw material and successfully applied to the transesterification of castor oil with methanol for biodiesel production. The preparation processes for the bentonite-based Li2SiO3-LiAlO2 composite (Li/Bent) were optimized, and the prepared Li/Bent catalyst was characterized using a variety of experimental techniques. The maximum oil conversion to biodiesel of 97.16 % was obtained under reaction temperature of 65 °C, reaction time of 90 min, catalyst amount of 4 wt%, and methanol/oil molar ratio of 15:1. The possible mechanisms of the reaction process were revealed. The preliminary analysis of technical feasibility for the production showed that the production of castor oil biodiesel catalyzed by Li/Bent had competitive advantages in terms of market demand, industrial policy, process technology, environmental impact and economic benefits. The high efficiency and good stability of the catalyst reflect the technical advantages of the process. According to the study of environmental factor and process mass index, the synthesis process of biodiesel generated low waste, which was a green and environment-friendly process. Finally, the economic evaluation showed that the biodiesel production from castor oil catalyzed by Li/Bent catalyst was a cost-effective and low risk process.

Capital market opening, digital transformation and corporate risk-taking ——empirical evidence from Shanghai Shenzhen-Hong Kong stock connect

"Shanghai-Hong Kong stock connect" and "Shenzhen-Hong Kong stock connect", as important policies for the two-way opening of China's capital market, have positive effects on expanding investment channels for investors and improving market liquidity. Taking Shanghai Shenzhen-Hong Kong stock connect as a quasi natural experiment, this paper examines the impact of capital market opening on corporate risk-taking and its mechanism by using a multi period DID model. The empirical results show that the Shanghai Shenzhen-Hong Kong stock connect can reduce corporate risk-taking, and digital transformation plays a positive moderating role between the two; the mechanism analysis finds that the Shanghai Shenzhen-Hong Kong stock connect reduces corporate risk-taking by increasing analysts' attention, and this indirect impact process is also positively moderated by digital transformation. The heterogeneity test finds that the impact of Shanghai Shenzhen-Hong Kong stock connect on corporate risk-taking is mainly reflected in the companies with higher product market competition and faster regional marketization process. The above conclusions provide empirical evidence for the effectiveness of the capital market opening policy at micro level, and provide enlightenment for the role of digital transformation in promoting healthy development of the capital market.

Classification of Rice Grains by Image Processing

General Background: The assessment of the surface quality of pre-treated rice grains is crucial for determining their market acceptability, storage stability, processing quality, and overall consumer satisfaction. Traditional evaluation methods are often time-consuming and yield subjective classifications. Specific Background: The lack of a comprehensive tagged image dataset hinders the application of advanced convolutional neural networks (CNN) for detailed damage classification of healthy rice grains. Knowledge Gap: Existing datasets and methods limit the effective exploration of sophisticated CNN models for categorizing rice types, particularly in identifying subtle damage characteristics. Aims: The study aims to create a robust rice grain classification system using image processing techniques, primarily deep learning algorithms, to improve the classification of rice varieties. Results: Utilizing a dataset of 75,000 images across five widely cultivated rice varieties in Turkey, we achieved classification accuracies of 100% for CNN, 99.95% for deep neural networks (DNN), and 99.87% for artificial neural networks (ANN). Novelty: The proposed approach represents a significant advancement in rice classification technology, employing a combination of image acquisition, feature extraction, and machine learning to streamline the process, effectively addressing the challenges faced in traditional methods. Implications: The findings underscore the potential for improved sorting and grading efficiency in the rice industry, facilitating better market outcomes and consumer satisfaction through enhanced quality control Highlights: Innovative: Uses CNN for accurate rice variety classification. Data-Driven: Analyzes 75,000 images for enhanced quality evaluation. Impactful: Increases efficiency in sorting and grading processes. Keywords: Rice Classification, Image Processing, CNN, Machine Learning, Agricultural Technology

The Application of Social Media in Digital Marketing

Social media can quickly share and communicate while building personal and community online identities and interactive platforms. It can reach almost everyone and effectively pro-mote brands, products, and services, attract potential customers, and encourage sales. It accelerates changes in the environment shared by enterprises and consumers and shapes market behavior. Through a literature review combined with the digital marketing research framework, we classify and synthesize the relevant literature research results, analyze the critical touch points where social media has or may have a significant impact on the marketing process and marketing strategy, and propose the role of social media in the field of digital marketing—existing future research directions.

Comparative analyses of bacterial contamination and microbiome of broiler carcasses in wet market and industrial processing environments

The slaughtering environment is crucial for the food hygiene and safety of poultry products. Despite the global dominance of industrial processing, live bird slaughtering in wet markets persists due to cultural, religious, and economic reasons. This study aims to reveal the correlation between hygiene scales in wet markets and bacterial contamination levels on broiler carcasses, with a particular focus on pathobiont transmission risks and microbiome characteristics. Wet markets were categorized based on home-made ratings and the Hygiene and Biosecurity Assessment Tool (HABT). The study assessed total aerobic bacterial (TAB) levels, food spoilage and hygiene indicators (Pseudomonas and E. coli), foodborne pathogen Salmonella, and the microbiome of broiler carcasses, intestinal contents, and slaughtering facilities. Comparative analyses were conducted between market and industrial processing environments. TAB levels on broiler carcasses showed a significant negative correlation with hygiene scores, indicating that both HABT and home-made rating tools effectively assess and improve processing hygiene. Industrial processing consistently reduced bacterial contamination compared to wet markets. Although Salmonella spp. prevalence was lower in market-processed carcasses, the study identified significant cross-transmission of pathobionts and variations in bacterial composition with hygiene improvements. Notably, the microbiome analysis revealed overlaps in amplicon sequence variants (ASVs) between carcasses and contamination vectors, highlighting pathobiont transmission risks. The present study confirmed the scales of hygiene standards among wet markets reflect bacterial contamination on broiler carcasses. Enhancing slaughter practices to meet industrial hygiene standards is essential for reducing the transmission of foodborne pathogens and pathobionts, and improving food safety.

SISTEM INFORMASI E-KASIR PADA CAFE UNICO TEMBILAHAN

Currently, many cashier systems still use manual or traditional methods, which can waste customers' time, especially those in a hurry. Mistakes in calculating total expenditure can also be detrimental to restaurants and customers. Therefore, the latest innovations have made the calculation process at the cashier faster and more efficient. This information system was designed using the System Development Life Cycle (SDLC) method with the Waterfall model. The implementation uses the PHP programming language and XXAMP and MySql web servers for database management. The E-Cashier system offers many benefits for companies, such as making it easier to monitor current product data, speeding up the buying and selling process, processing financial reports at the cashier, and helping with archiving financial data. The conclusion of this research shows that E-Kasir is very useful for business people.

Sustainable integration of insects into European food chains

Abstract The European Commission’s Circular Economy Action Plan (CEAP) is a cornerstone of the European Green Deal, aiming for transition towards a more sustainable and circular economy by addressing waste reduction and promoting recycling of low-opportunity cost biomass. The EU Horizon 2020 project SUStainable INsect CHAIN (SUSINCHAIN) aligns with these goals, focusing on the efficient utilisation of insects in the food chain to strengthen sustainable supply chains, enhance consumer acceptance, and create market opportunities. The project, targeted at Technology Readiness Level 6, addresses barriers through comprehensive research, technology demonstrations, and stakeholder collaboration. Results contribute to scaling up the insect sector by overcoming supply and demand challenges, fostering trust, and developing best practices. The opinions generated encompass market opportunities, insect rearing, processing, safety, and sustainability, providing guidelines for stakeholders, public authorities, policymakers, and academia to collectively drive the growth and acceptance of the European insect sector.