Premium Segment Research Articles

AN EXPLORATORY ANALYSIS OF ACCOUNTING ESTIMATES DISCLOSURE PRACTICES. THE CASE OF ROMANIAN PRIVATE LISTED COMPANIES

The research aimed to identify and evaluate the level of disclosure of accounting estimates in the annual reports of companies listed on the Bucharest Stock Exchange (BVB) on the premium segment. Excluding the banking sector and suspended companies from the total premium companies, 55 companies were identified in the sample. The companies' annual reports for 2018-2022 were analyzed to identify accounting estimates and any changes in these estimates. For each business, a score of 1 was assigned for changes in estimates and 0 for non-change. Using qualitative research methods, the set of data on accounting estimates was obtained by examining public information in the notes to the annual financial statements. The analysis of descriptive statistics was carried out to interpret the data, classifying companies according to turnover, total assets, average number of employees, and net result. Companies were also clustered into three categories, and the analysis highlighted industries with varying levels of disclosure. These findings provide insights into the level of disclosure of accounting estimates among Romanian companies listed on BVB, with stakeholder involvement and policy development for sustainable economic development.

On the influence of sorbents on the static stiffness of Air Springs

Air Springs are deployed in many technical areas today. In the premium segment of the automotive industry in particular, they are being used more and more frequently. The load-independent spring rate results in a better ride comfort. Since the stiffness of the Air Spring is significantly influenced by the enclosed air volume, this usually leads to a conflict of objectives between the available installation space and the stiffness optimum. To reduce the spring stiffness while maintaining the same design space, Coackley and Elliot describe in their patent the use of adsorbents such as activated carbon in the enclosed air volume of the spring. By binding air molecules to the adsorbent, more air molecules fit into the enclosed Air Spring volume, while the size and pressure of the Air Spring remain the same.This paper describes how the so-called “virtual volume” is created by adsorption and how it can be determined by simplified measurements using a gas pycnometer. Furthermore, it is shown how these measurements are related to the static stiffness of an Air Spring, so that a prediction of the static stiffness of an Air Spring filled with sorbent, in this case activated carbon, is possible by simple pycnometric measurements.

The U.S. Facial Tissue Market: A Competitive Profile

This is the thirteenth project that follows the footsteps of twelve studies that have tried to analyze the competitive profiles of U.S. consumer markets: Men’s Shaving Cream, Beer, Shampoo, Shredded/Grated Cheese, Refrigerated Orange Juice, Men’s Razor-Blades, Women’s Razor-Blades, Toothpaste, Canned Soup, Coffee, Potato Chips, and Alkaline AA Batteries.Michael Porter associates high market share with cost leadership strategy, which is based on the idea of competing on a price that is lower than that of the competition.However, customer-perceived quality—not low cost—should be the underpinning of competitive strategy, because it is far more vital to long-term competitive position and profitability than any other factor. So, a superior alternative is to offer better quality vs. the competition.In most consumer markets, a business seeking market share leadership should try to serve the middle class by competing in the mid-price segment; and offering quality better than that of the competition: at a price somewhat higher to signify an image of quality, and to ensure that the strategy is both profitable and sustainable in the long run. Quality, however, is a complex concept, consumers generally find difficult to understand. So, they often use relative price, and a brand’s reputation, as a symbol of quality.For 2008 the U.S. Facial Tissue market had sales of $1035 million.Using Hierarchical Cluster Analysis, we tested two hypotheses: (I) That the market leader is likely to compete in the mid-price segment, and that (II) Its unit price is likely to be higher than that of the nearest competition.For both 2008 and 2007 the results supported Hypothesis I. The market leader Kleenex was a member of the mid-price segment, as hypothesized.However, the results did not support Hypothesis II for both 2008 and 2007, because the runner-up, Puffs was a member of the premium segment with a higher price tag to match.We found that relative price was a strategic variable, as hypothesized.A pattern is emerging in price-quality segmentation analysis. In ten of the thirteen studies—that exclude Men’s and Women’s Razor-Blades, and Ground Coffee—the market leader was found to be a member of the mid-price segment, as we have hypothesized.Moreover, results in seven markets supported Hypothesis II.We also discovered three strategic groups in the industry.

Eco-Driving Optimization Based on Variable Grid Dynamic Programming and Vehicle Connectivity in a Real-World Scenario

In a context in which the connectivity level of last-generation vehicles is constantly on the rise, the combined use of Vehicle-To-Everything (V2X) connectivity and autonomous driving can provide remarkable benefits through the synergistic optimization of the route and the speed trajectory. In this framework, this paper focuses on vehicle ecodriving optimization in a connected environment: the virtual test rig of a premium segment passenger car was used for generating the simulation scenarios and to assess the benefits, in terms of energy and time savings, that the introduction of V2X communication, integrated with cloud computing, can have in a real-world scenario. The Reference Scenario is a predefined Real Driving Emissions (RDE) compliant route, while the simulation scenarios were generated by assuming two different penetration levels of V2X technologies. The associated energy minimization problem was formulated and solved by means of a Variable Grid Dynamic Programming (VGDP), that modifying the variable state search grid on the basis of the V2X information allows to drastically reduce the DP computation burden by more than 95%. The simulations show that introducing a smart infrastructure along with optimizing the vehicle speed in a real-world urban route can potentially reduce the required energy by 54% while shortening the travel time by 38%. Finally, a sensitivity analysis was performed on the biobjective optimization cost function to find a set of Pareto optimal solutions, between energy and travel time minimization.

Trends in the Development of the World and Ukrainian Markets of Cosmetic Hroducts

Abstract. Introduction. The question of the development of product markets, changes, trends, features, and influencing factors is of primary importance in international business from the point of view of marketing research for entering new markets or business expansion. Purpose. The purpose of the research is to monitor the functioning of the global and Ukrainian market of cosmetic products and to determine the main trends in their development. Results. As a result of research into the world market of cosmetic products, the following trends are observed: growth in the sales of Korean cosmetic products, growth in the production and sales of ecological cosmetics, the target audience of the market is expanding, the popularity of the promotion and sales of cosmetic products using Internet technologies is increasing, there is a decline in the demand for decorative cosmetics, the demand for products of the premium segment is decreasing, while the demand for products of the cheap price segment is increasing. Similar trends are also taking place in the Ukrainian market, namely the growth in demand for cosmetics based on natural ingredients, a significant increase in online sales of cosmetics. Conclusions. Therefore, international business entities working in the cosmetics market should take into account the trends of the world and domestic markets, focus on customer requests, and significantly develop the online promotion and sales system, using the latest information technologies in international marketing.

Matching the Needs in an Emerging Market: An Investigation of Multinational Companies’ Marketing Strategies by Using the 4As Framework

Making the multinational companies’ (MNCs) products attractive among the low- and the high-income consumers is challenging in an emerging market. This study uses the 4As framework (affordability, accessibility, acceptability and awareness) to investigate the marketing activities that three Western companies from the industries such as telecoms, brewery and decorative paint implemented to match the needs in the Indian market. By proposing to split affordability into three categories, the study extends the 4As framework. Three general strategies emerged, each one composed of six 4As marketing activities. The strategies, one for each industry, show different approaches to how companies could develop the demand for their products. Each strategy is linked to one of the three categories of affordability: (a) Serving consumers across economic classes (affordable to everyone). (b) Serving consumers looking for an international lifestyle (affordable to the mainstream and the premium segments). (c) Serving consumers seeking a higher level of materialism (affordable to the premium segment). The study presents theoretical and managerial implications, and suggestions for future research.

INTERNATIONAL MARKETING INFORMATION TECHNOLOGIES OF CORPORATE BRANDING MOBIL: PLANNING, PRODUCT POLICY, PRICING

Abstract. The marketing activity of «MasloTrade» LLC, which operates in the field of promotion and distribution of lubricants in the markets of Ukraine, was analyzed. It has been established that the innovative high margin Flagship product is not mainstream, due to its high price in simple comparison with a similar product, and therefore it is quite logical that the Premium segment is the largest. It was determined that the possibility of engineering support from the distributor company should be included in the additional terms of supply. These aspects are taken into account in industrial branding. The sales structure of «MasloTrade» LLC according to the FPS approach, the structure of the range of lubricants of the Mobil brand in 2021 according to PVL, CVL and IND lines were evaluated. The average sales price of MasloTrade LLC for 2021 was determined. It is noted that lubricants from the Flagship segment have a significantly higher price compared to other segments. This confirms the earlier data that these are innovative, ecological and high-margin lubricants. Market segmentation was carried out using modern information technologies in two stages: macro- and micro-segmentation. It was established that the following three segments were distinguished by the type of activity, frequency and volume of purchases: agricultural farms and holdings; enterprises of the metallurgical industry; mining and mining processing enterprises. Keywords: information technologies, international marketing, corporate branding, planning, pricing, product policy.

Virtual versus sustainable fashion: a systematic literature review

Purpose: The aim of the study was to determine the extent of convergence between the concepts of virtual and sustainable fashion. Virtual reality is gaining popularity due to its immersive nature, which enables “involvement of the senses”. Owing to dynamic technological development, it is expanding into numerous fields of application and provides the potential to offer innovative products. Among those is virtual fashion, i.e., clothes and accessories that have no physical equivalent, being available to “wear” only in virtual reality. Virtual clothing is part of the premium and exclusive product segment, to which, in particular, the value added by the consumer is attributed. These products are therefore communicated as an environmentally friendly alternative to physical clothing, as they do not require the consumption of materials, thus generating no waste, using less energy and water, etc. Design/methodology/approach: The research consisted of two phases. The main phase was conducted with a method of systematic literature review according to PRISMA standards, by means of data extracted from the databases: Scopus and Ebsco (n = 13). In a supplementary phase, there was used a method of co-occurrence keywords analysis via VOSviewer to compare the description of strictly virtual fashion (n = 218) and sustainable fashion (n = 402). Documents were searched in the Scopus database. The conclusion was reached using the induction method. Findings: The findings from the researched documents indicate that virtual fashion is predominantly presented accordingly to the new technological possibilities it offers. Indeed, its ecological qualities and its potential for fulfilling pro-environmental goals in the fashion industry are briefly stated in broad terms, without reference to the specific measures or data, mentioned, by comparison, in papers devoted solely to sustainable fashion. Originality/value: The findings from the researched documents indicate that virtual fashion is predominantly presented accordingly to the new technological possibilities it offers. Indeed, its ecological qualities and its potential for fulfilling pro-environmental goals in the fashion industry are briefly stated in broad terms, without reference to the specific measures or data, mentioned, by comparison, in papers devoted solely to sustainable fashion. Keywords: virtual reality, sustainable fashion, sustainability, fashion industry. Category of the paper: literature review.

Competition in the Brazilian premium car market in 2007—2021

The article presents the analysis of the competition development on the Brazilian premium automotive market in 2007-2021. The SV matrix is used as an analytical tool that allows to track changes in different industries. Results of the study show that the premium segment of the automotive market responds to economic shocks better than the mass segment. In the second half of the 2010s the market was finally formed and achieved the high concentration, the dominant group of companies expanded. Competition in the Brazilian auto market today can be characterized as the "Big Five": five equally large companies control almost the entire market. However, considering the competition between automotive holdings, there is a clear dominance of Daimler company. In contrast to the situation in Russia, during crises, the premium segment of the Brazilian car market declines along with the mass segment, which can be explained by the population of the upper middle class being less resistant to external shocks and a smaller share of the wealthiest population.

Premium Car Brands Strategies and Regulator’s Actions in Russia (2009–2021)

This article analyses the premium segment of the Russian automotive market from 2009 to 2021 based on data from the Association of European Businesses. The authors conducted a comparative analysis of trends in the Russian automotive market with trends in its premium segment and found significant differences in the market cycles. The analysis of the main periods of the studied market was based on the SV matrix (strength/variety). The article also discusses the main external and internal factors that influenced the competition level in the periods under review. As the main conclusion of the study, it was noted that while in the mass segment of cars, the strength of companies and dominant groups is highly dependent on external factors, then in the premium segment the main driving forces for changing the market situation are the actions of the companies themselves, their competitive strategy, as well as adaptation to current market trends. The article also provides comments on the impact of economic events from February 24, 2022 on the market situation.

Why Did Uber China Fail? Lessons from Business Model Analysis

The ride-hailing platform offers the business model of the on-demand business ecosystem in the era of the sharing economy. Platforms such as Uber, Lyft, and DiDi have become popular worldwide and established a strong position in urban transportation. This paper presents a case study analyzing the fierce competition between Uber and DiDi in the Chinese ride-hailing market. First, employing the canvas framework, we show the core characteristics of the business models of the two platforms. Our analysis and comparisons of the strategic positioning and implementation concerning the building blocks of canvas ascribe the success factors of DiDi and the causes of Uber’s failure. Although both Uber and DiDi provide similar service offerings for diverse market segments, Uber’s mismatches between its strategic focus on the premium segment and service operations proved to be a mistake. On the other hand, DiDi managed its business more efficiently by providing a wide range of service offerings while leveraging the two-sided market. As a result, DiDi has grown successfully as a one-stop transportation platform, which is well-suited to the Chinese market. This study provides meaningful insights into business model innovations in the sharing economy and implications for the evolution of future transportation platforms.

INDICATORS OF ECONOMIC EFFICIENCY OF GROWING DOMINANT GREENSHELL POULTRY

The article examines the peculiarities of the DOMINANT GREENSHELL egg-laying poultry, in particular, the indicator of laying capacity in floor-level growing. Environmental factors affecting the viability and productivity of chickens have beenanalyzed. Data of the experiment has been given and such shortcomings of keeping as loss and high specific weight of dirty and broken eggs have been revealed. The components of the cost price and the change in the cost price of finished products in different periods of poultry breeding have been highlighted. On the basis of the conducted experiment, an explanation has been made regarding the impact of production costs on the cost price of eggs, in particular compound feed. The profitability of the production of eggs with a colored shell for floor-level growing has been analyzed and the necessity of selling them in the premium segment has been proved.

WORLD ACHIEVEMENTS AND INNOVATIVE TECHNOLOGIES IN MODERN TOURISM AND HOTEL RESTAURANT BUSINESS

The purpose of the article – find out and summarize the practical experience of using innovative technologies in the hotel and restaurant and tourism business. The research methodology consists in the application of methods of analysis, synthesis, comparison, generalization, forecasting, as well as in the use of systemic and activity-based approaches. The scientific novelty lies in the fact that this article presents modern product innovations, technological innovations in the development of transport infrastructure, accommodation facilities for the premium segment and tourism innovations in different regions of the world. Conclusions. As a result of the study, it was found that innovations in the tourist infrastructure contribute to a change in the structure of demand and the volume of tourist flow, to attract funds to the country, create opportunities to increase the attractiveness of a tourist destination. Keywords: innovations, innovative activity, product innovations, technological innovations, transport infrastructure, hotel infrastructure.

Permitting dual class shares in the UK premium listing regime – a path to enhance rather than compromise investor protection

AbstractUnequal voting rights arrangements under dual class share structures are increasingly favoured by entrepreneurs and founders of technology companies, in order to retain a degree of control over the company that is disproportionate to their equity shareholdings. The rise of such share structures around the world has put competitive pressure on the UK Government and the country's financial regulator to relax the one share, one vote principle in the premium listing regime of the London Stock Exchange, to ensure the UK equities market remains world-leading and fit for the future development of the economy. There is, however, a long tradition of institutional investors’ distaste for dual class share structures. In fact, the near extinction of dual class listings in the UK capital markets can be largely attributed to the opposition of large British institutions. Therefore, this paper will critically discuss the conflict between the demands to attract listings from high-tech and innovative companies and concerns of a race to the bottom in the UK context. It rebuts criticisms based on investor protection and argues that if dual class companies were permitted to list in the Premium Segment, the higher level of regulatory protection provided in the premium listing regime would help enhance minority shareholder protection and shareholder engagement. The additional safeguarding measures, as we have seen from other global financial centres, would also help to restrain the potential abuse of controllers’ weighted voting power. Together with the market mechanism, permitting dual class listings in the Premium Segment should be welcomed.

The business model and sustainability in the Spanish wine sector

The literature on business models and sustainability is vast but fragmented across many studies. This article seeks to unify the diverse contributions, proposing a sustainable business model archetype. With a sample of 411 Spanish wineries and using the Mann-Whitney U test, we have detected a difference between wineries in terms of their sustainability, identifying two business models, one of high sustainability and another of low sustainability. The high sustainability business model is based on the ownership of a vineyard, the production of bottled wine, sales in retail stores, supermarkets or through intermediaries, a better online position than the competition, a positioning in the premium segment and exports. The business model of a less sustainable winery is based on the sale of bulk wine in the low-price segment and an unawareness of where the wine is sold.

POST-PANDEMIC ADAPTATION OF LUXURY RESTAURANTS

Background. The biggest losses during the global COVID-19 pandemic were in the restaurant business, in particular in the premium segment, which is the flagship of global market trends. New challenges of the external environment force enterprises to find innovative adaptation mechanisms for further development and competition in the market. The aim of the studyis to analyze, determine and predict the adaptability of the current state of the world market of restaurant services, in particular – luxury segment, in a viral pandemic. Materials and methods.The methodological basis of the research was statistical and graphical methods, which in combination allowed to analyze the dynamics of development and adaptability of luxury services in the global market of restaurant services. The information base for the study was the work of domestic and foreign scientists and Internet sources. Results.The state of the world market of restaurant services in pandemic conditions is investigated. Based on the analysis of world ratings and opinions of business experts, the issue of pandemic challenges of restaurants of various formats is substantiated, probable directions of changes and development of the world market of restaurant services are determined. To restart the operation of the restaurant business in the post pandemic period, adaptive mechanisms for its restoration and development have been identified, taking into account the features and requirements of the luxury services restaurant market. Conclusion. The COVID-19 pandemic has had a significant negative impact on the activities of most restaurant establishments of various formats, including premium segment restaurants. At the same time, the global pandemic crisis has provoked institutions to seek innovative adaptive approaches. During the period of destabilization and adaptive resumption of activities, the main priorities of institutions should be, first of all, updating operating procedures, updating the customer base to return them to the restaurant, adjusting the menu to change consumer habits and preferences, improving delivery service and more. Given the prognostic data of world experts on the future of the restaurant industry in post-pandemic conditions, the modern restaurant business is in an active phase of its restart and innovative development. Keywords: premium segment restaurants, luxury service, fine dining, digitalization of business, the global market of elite restaurant services, pandemic COVID-19, Michelin star, adaptive development mechanisms.

London Allowing dual class Premium listings: A Swedish comment

ABSTRACT In the UK Listing Review it is suggested that the LSE should allow companies with dual class share (DCS) structures to list on the Premium segment. In this paper, we discuss this proposal. First, we present an overview of the DCS-debate together with the proposition in the Review to allow for DCS-listings under certain conditions. Second, we discuss the arguments that are made against DCS-listings. For the sake of comparison and reference, we then give an overview of the Swedish DCS-regulation. From there, we discuss the conditions for DCS-listing recommended in the Review. Our conclusion is that several of the DCS-listing conditions suggested might not only hinder DCS-structures from being useful for companies that wish to utilise such structures but would in several cases disable the corporate governance mechanisms that would otherwise counteract several of the problems that DCS-structures can give rise to, most prominently the market for corporate control.

Marketing strategies to self-sustainability of autochthonous swine breeds from different EU regions: a mixed approach using the World Café technique and the Analytical Hierarchy Process

AbstractExtensive and semi-extensive production based on local swine breeds such as Majorcan Black Pig, Cinta Senese, Gascon, Krškopolje and Turopolje is becoming extremely rare and on the verge of disappearing in Europe. In this context, the main aim of this study was to assess the potential feasibility of marketing strategies to act as guidelines for stakeholders along the supply chain to create and improve added value and match market demands. The sustainability of five production systems was evaluated together with 60 stakeholders representing five local swine breeds, using a World Café (WC) method combined with an Analytical Hierarchical Process (AHP). The results showed that the proposed strategies could differ slightly depending on each system, while the product strategy was a common marketing priority for most of the stakeholders and represented all the systems evaluated. Diversifying production toward quality, innovative products, enhanced standardization, and quality labeling or seals of guarantee, such as the protected geographical indication or the protected designation of origin, would contribute to the sustainability of these chains. Advertising the storytelling of the meat products and emphasizing their healthier properties were also considered as positive strategies. To this effect, promotion should involve improving knowledge of the local systems and raising the profile of the meat products via public relations (networks, web pages, food and gastronomic events, workshops and so on) in the Hotels, Restaurants and Catering (HORECA) sector, stores selling top-quality products and local food shops. Better showcasing of these products and keeping the price in the premium segment would indirectly help the primary sector. By way of conclusion, other more developed local swine systems could be strong competitors, hence it is extremely important to effectively identify and trace all autochthonous swine breed products throughout the production chain. Furthermore, the entire chain must place greater emphasis on grazing (extensive or semi-extensive), the origin of the swine and their meat products. However, of utmost importance is cooperation between farms, firms and institutions.

Kingfisher: Ultra Max re-positioning hurdle

Learning outcomes To appraise the product positioning in an emerging market. To recognize and discuss a positioning plan for a new product. To apply, describe the Kapferer brand identity prism along with different competition levels for Kingfisher Ultra Max. To deliberate the marketing mix for improving the sales of Kingfisher Ultra Max. Case overview/synopsis United Breweries Limited (UBL) was part of UB Group, which was a business conglomerate. United Breweries Holdings Limited or UB Group was headquartered at UB City, Bangalore, India. It dealt in many businesses, out of which UBL was one of them. Kingfisher Ultra Max was Kingfisher’s newest addition to the super-premium strong beer segment. It was a larger-based beer with 8% alcohol by volume content and was stronger in terms of alcohol content than Kingfisher Ultra, which was also from the super-premium segment. This brands positioning was such that it targeted the premium segment. The top management was considering a change in positioning for their Ultra Max brand. A research report submitted by a premier business school also recommended a change in positioning. The officials in the meeting are contemplating the two options for the shift in positioning; one is to make the change of positioning across India and the other is to make the change specific to some states. Complexity academic level The case is targeted at students of post-graduation and under-graduation programs in business administration, specializing in marketing management, brand management or marketing strategy. Also, the case study can be included as part of courses related to strategic management and competitive analysis. Supplementary materials Teaching Notes are available for educators only. Please contact your library to gain login details or email support@emeraldinsight.com to request teaching notes. Subject code CSS 8: Marketing. Supplementary materials Teaching Notes are available for educators only.

London Allowing Dual Class Premium Listings: A Swedish Commentary

In the UK Listing Review it is suggested that the London Stock Exchange should allow companies with dual class share (DCS) structures with differentiated voting rights to list on the Premium segment. In this paper, we discuss this proposal. First, we present an overview of the DCS-debate together with the proposition in the Hill Review to allow for DCS-listings under certain conditions. Second, we discuss the arguments that are made against DCS-listings. For the sake of comparison and reference, we then give an overview of the Swedish DCS-regulation and the political economy. From there, we discuss the conditions for DCS-listing recommended in the Hill Review. Our conclusion is that several of the DCS-listing conditions suggested might not only hinder DCS-structures from being useful for companies that wish to utilize such structures but would in several cases disable the corporate governance mechanisms that would otherwise counteract several of the problems that DCS-structures can give rise to, most prominently the market for corporate control.