Price Segments Research Articles

Argentine Malbec market: comparative study of general chemical parameters and sensory properties within low, medium and high price segments

Malbec, Argentina's emblematic wine, is appreciated worldwide for its unique characteristics and distinctive organoleptic profile. As demand for Malbec wines increases locally in Argentina and international markets, there is a need to better understand the relationship between the price of these wines and their chemical and sensory characteristics. The aim of this study was to describe and quantify the sensory attributes and chemical parameters (in particular, phenolics) of Argentinean Malbec wines of different price segments. In order to observe the differences between each price range, the eight best-selling wines from the low, medium, and high price categories were analysed. Wine general analytical parameters and phenolics composition were determined and a descriptive analysis was performed with a trained panel. The results show that it was only possible to differentiate between the high- and low-price ranges. Both ranges exhibited variability, including different types of wines. Significant differences were identified in several parameters, such as O.D.280, titratable acidity, malic acid, volatile acidity, alcohol, glucose and total sugars. There were also significant differences in anthocyanins, LPP, SPP, TPP and tannins. The high-price range was characterised by higher alcohol content, greater polyphenol concentration and greater colour intensity. Sensorially, they were distinguished by the descriptors wood, astringency and colour. The low-price range was associated with low colour intensity and higher total sugar content. This is the first study to clearly establish the sensory differences among different price ranges of Argentine wines. Our study demonstrated that wine pricing is not determined in a subjective or arbitrary manner; rather, wines produced for a specific segment are intentionally designed to achieve the desired sensory and chemical characteristics.

Entrance opportunity vs. academic performance: unpacking the nonlinear capitalization effects of multidimensional school qualities on housing sales and rental prices

It is widely documented that school quality has a capitalization effect on housing prices. However, existing literature has commonly reported a linear relationship between housing sales prices and the academic performance of nearby schools. This study challenges this prevalent understanding by examining how the entrance opportunity as an integral part of school quality affects both housing sales prices and housing rental prices, in response to the newly adopted point-based school enrolment policy in China whereby tenants are allowed to access local public schools but with fewer opportunities compared to homeowners. Employing machine learning algorithms, this study identifies which key school indicators and what ranges of these indicators have significant impacts on different housing sales and rental price segments in Shenzhen, China. Our results reveal that housing rental prices, particularly in the lower-priced segment, are more determined by the entrance opportunity than the academic performance, while the latter is the most important factor influencing housing sales prices. The nonlinear capitalization effect suggests that tenants and homebuyers are willing to pay more for school quality increases only within specific ranges, namely, from median to a relatively high level of school quality. These findings contribute to a more nuanced and updated understanding of the education capitalization effect and thus inform more inclusive and equitable urban planning and governance.

ASSESSMENT OF THE DOMESTIC WORKWEAR MARKET

The research paper examines the development of the market for tailoring work clothes in Ukraine. The European and domestic classification of types of work clothes and the corresponding segmentation of the market are given. Special purpose clothing guarantees protection to employees from the adverse effects of the working environment, reduces the risk of industrial injuries and shows their individuality. Under modern conditions, the market of overalls is developing rapidly, taking into account the growing need for it among enterprises in the construction industry, manufacturing industry, distribution of electricity, gas and water, wholesale and retail trade, tourism, medicine, the service sector and other industries. Therefore, the analysis of the development of the overalls market requires in-depth research and is an important and urgent issue. The article provides an assessment of the current state of the workwear market in terms of changes in the number of enterprises, volumes of merchandise and sales of special purpose products. The domestic market of work clothes and personal protective equipment maintains a stable growth trend. In particular, new business entities dealing with their tailoring and implementation are being opened. They expand the range of special purpose products; improve their quality and aesthetic appearance. The article outlines the trends in the development of the workwear market in Ukraine: cost optimization for the purchase of better quality workwear; the emergence of new technologies in the production of work clothes increase the requirements for the innovative component of the clothing market; orientation of manufacturers of work clothes mainly on consumers of low and medium price segments; growth in the amount of tailoring of uniforms for the Armed Forces, the State Emergency Service, and medical workers based on military needs; increase in the number of competing companies. Based on this, the ways of further improvement of the scope of sales regarding the tailoring of work clothes are planned: to make comfortable multi-functional overalls for active life and work; to revitalize the digitization of the market for the sale of workwear; to involve nanotechnology in the production of overalls (fabrics: a generator, a cooler, which changes color under the influence of water, heat and light, which is not subject to damage when using a knife). As a result of taking these measures, companies producing special purpose clothing will increase their competitiveness both on the domestic and European markets.

The heterogeneous response of real estate prices during the Covid-19 pandemic

Abstract We estimate the transmission of the pandemic shock in 2020 to the residential and commercial real estate market by causal machine learning, using granular data for Germany. We exploit differences in the incidence of Covid infections and short-time work at the municipal level for the identification of epidemiological and economic effects of the pandemic. We find that (i) a larger incidence of Covid infections temporarily reduced rents for retail real estate; (ii) a larger incidence of short-time work temporarily reduced rents of office real estate; (iii) the pandemic increased prices, particularly in the top price segment of commercial real estate.

Print culture and economic constraints: A quantitative analysis of book prices in eighteenth-century Britain

Who could afford books in the late early-modern period? We explore how prices related to the demand for books in eighteenth-century Britain by analysing extensive bibliographic and socio-economic data based on Bayesian statistics and machine learning. Our results quantify in financial terms the difficulty of buying print products faced by most British households in the eighteenth century, and how this related to the varying levels of supply across price segments. We found no evidence of the well known claim that legislation would have led to lower prices. The inadequate supply and high cost of books make it likely that only higher-income households bought them regularly from the primary market.

Freeports, elites, and loopholes

The globalized trade in artworks has undergone significant changes since the end of the Cold War: While its former Western centres, such as New York and London, continue to dominate the discourse on high price segments with well-attended art fairs and influential auction houses, new actors challenge these former major players, new customers push into the market, and inflationary price increases have been recorded in recent years. From the perspective of systematic geographical research, however, this field of economically globalized trade has been largely neglected so far. With the help of a systematic literature analysis, this article examines the existing knowledge on the globalized art market across disciplines and systematises it with the help of the so-called TPSN model along the spatial categories of territory, place, scale, and network. Based on this analysis, we developed five core findings of the globalized art market that can serve as a foundation for future geographical research projects.

Microbial Quality of Regularly Consumed Imported and Local Bulgarian Cheeses of Upper Price Segment

Microbial Quality of Regularly Consumed Imported and Local Bulgarian Cheeses of Upper Price Segment

АНАЛИЗ ФАРМАЦЕВТИЧЕСКОГО РЫНКА ПРЕПАРАТОВ, СОДЕРЖАЩИХ ЭКСТРАКТИВНЫЕ БИОЛОГИЧЕСКИ АКТИВНЫЕ ВЕЩЕСТВА РАСТОРОПШИ ПЯТНИСТОЙ

Natural flavolignans of milk thistle are widely used in pharmaceutical practice in the form of herbal remedies for the treatment of various hepatopathologies. In medical practice, medications (medicines) and dietary supplements containing extractive substances of milk thistle fruits are used. The therapeutic effect of drugs containing extractive substances of milk thistle is due to the stabilizing effect of flavolignans on hepatocyte membranes and neutralization of free radicals in the liver. By having a stabilizing effect on cell membranes, the extractive components of milk thistle prevent the release of intracellular components (transaminases) and promote the regeneration of liver cells. The work carried out a marketing analysis of the pharmaceutical market of drugs in Volgograd containing extractive substances of milk thistle and an assessment of their therapeutic effect in medical practice. The conducted research showed the presence on the pharmaceutical market of Volgograd of a wide range of over-the-counter medications containing extract of milk thistle fruits, both domestic and foreign produced. It was revealed that prescription drugs are not available in pharmacy organizations in Volgograd. It is shown that the main segment contains preparations containing milk thistle extractives in the form of dietary supplements. The analyzed price segment of drugs and dietary supplements is defined as average.

Consumer preferences for fungus-resistant grape varieties: an explorative segmentation study in Germany

PurposeThe significance of fungus-resistant grape varieties (FRGVs) has markedly increased across the entire value chain in recent years, becoming increasingly pertinent for the wine industry. The study contributes to the theoretical understanding of consumer behaviour in the wine industry through the identification of different clusters and the analysis of their accessibility to the FRGV on the basis of various criteria.Design/methodology/approachA quantitative survey was conducted involving 644 participants that was screened based on socio-demographic factors to ensure representation of the German population. The collected data were analysed using factor and cluster analyses, alongside various multivariate tests, to statistically elucidate similarities and differences between clusters.FindingsIn total, six clusters were examined, each displaying varying responses to and pre-existing knowledge of resistant grape varieties. In general, as one becomes more involved in the world of wine and develops a sustainable and progressive outlook towards innovations in the wine industry, a positive inclination towards resistant grape varieties can be observed.Practical implicationsPractical implications for each cluster were subsequently derived, potentially facilitating the market entry or penetration of wines produced from FRGV. Experts and Quality-averse consumer desire wines from FRGV to have a unique terroir experience, while young casual drinkers interpret them as part of pop culture. LOHAS can be addressed with sustainability-oriented approaches. Price-sensitive consumer expect good qualities in the entry price segment, and Traditionalists can be reached by preserving traditions in a changing environmental context.Originality/valueThis paper fulfils the identified need to investigate consumer preferences for resistant grape varieties.

Modern hotel profitability centers: spa and wellness in the Russian hotel space

In the article, the authors, based on the analysis of domestic and foreign theoretical and periodical literature, argue that in the scientific community and in the practice of the hotel business there is no unified understanding of the essence and content of the concepts of «spa» and «wellness» in the hotel space and the interrelationships between these phenomena. The authors believe that in the modern hotel market, a hotel (especially in the luxury segment and the middle price segment) that does not offer spa and wellness services is at a disadvantage in terms of attractiveness to guests. Some hoteliers doubt the role of the spa center as a center of profitability of the hotel, since the value of such an object lies in meeting the expectations of guests, and many guests no longer consider spa centers and related facilities such as a fitness room, swimming pool, etc. as a luxurious addition to the services offered, and the developed hotel spa space is perceived as the standard for a modern hotel concept. The search for a solution to the problem of monetization of the hotel spa has led to the emergence of various economic models for managing the spa division: (1) direct management of the spa infrastructure by the hotel enterprise itself; (2) management by a third party; (3) rental of premises; (4) white label. In the article, the authors consider various methods used by Russian and foreign hoteliers to optimize hotel revenues through the activities of the hotel spa center. The authors conclude that despite all the existing problems, spa and wellness have become an integral component of the modern hotel business. Therefore, hoteliers must learn how to manage this new type of activity using effective economic models, creating original and profitable spa and wellness hotel concepts that harmoniously combine innovation, authenticity and local culture, meeting the specific needs of target segments.

Marketing Communication Strategy in Maintaining Customer Loyalty

Civil Minimarket Marketing Communication Strategy in Maintaining Customer Loyalty” focuses on how the Madani Minimarket marketing communication strategy maintains customer loyalty. To find out how the marketing strategy is: Market segmentation strategy, product strategy, pricing strategy. Meanwhile, to know marketing communication strategies, namely: advertising, sales promotion and publicity. The research method used by the author in this study is a type of qualitative research. Data collection techniques used in this study were library research and field studies, namely field observations and in-depth interviews. The selection of informants was carried out through an observation process. Based on the research results, it was obtained an illustration that the marketing strategy used by Madani was market, product and price segmentation. while the communication strategy used is advertising, sales promotion and publicity by using online and offline media. Online, namely social media and offline, namely banners, pamphlets and the like to share information about products and price discounts.

MARKETING COMMUNICATION STRATEGIES IN MAINTAINING CUSTOMER LOYALTY

Civil Minimarket Marketing Communication Strategy in Maintaining Customer Loyalty” focuses on how the Madani Minimarket marketing communication strategy maintains customer loyalty. To find out how the marketing strategy is: Market segmentation strategy, product strategy, pricing strategy. Meanwhile, to know marketing communication strategies, namely: advertising, sales promotion and publicity. The research method used by the author in this study is a type of qualitative research. Data collection techniques used in this study were library research and field studies, namely field observations and in-depth interviews. The selection of informants was carried out through an observation process. Based on the research results, it was obtained an illustration that the marketing strategy used by Madani was market, product and price segmentation. while the communication strategy used is advertising, sales promotion and publicity by using online and offline media. Online, namely social media and offline, namely banners, pamphlets and the like to share information about products and price discounts.

The effect of South African wine certifications on price premiums and marginal costs: A two-stage hedonic approach

This paper analyses whether there are price premiums for certified and black economic empowerment (BEE) South African wines in the domestic market and the major export markets (Germany, United Kingdom, the Netherlands, and Belgium) and estimates what (marginal) costs are related to supplying these certifications. The results suggest price premiums for BEE wines, while for certified wines price premiums only apply in some markets and especially for those certifications that focus on the environment and organic production, but not for those that focus on fair trade or labor. The results for marginal costs suggest that subsidized BEE wines sell lower quantities but gain access to higher price segments, while the opposite holds true for certified wines. Additionally, for certified wines (except Fairtrade), younger and private producers have a comparative cost advantage.

Кризис на Шри-Ланке: долгая тень неоколониализма

The article is devoted to the study of the causes of the economic and political crisis in Sri Lanka (2019 – present) through the prism of the complex approach based on the post-colonial research paradigm. The author considers the three most affected sectors of the economy of Sri Lanka: agriculture, the textile and apparel industry and tourism. All of them in their present form are products of the modern era, formed under the influence of colonial and neo-colonial practices and provided Sri Lanka with a specific place in the world economic system as a producer of plantation crops (primarily tea), textiles of the upper price segment and tourism services, focused on the EU and the US population. During the pandemic, the orientation on the Western market, aggravated by the voluntaristic actions of the country’s leading the Rajapaksa clan, led to the collapse of key sectors of the Sri Lankan economy. Particular attention is paid to the agrarian sector. The author believes that the current disparities in the agrarian development of Sri Lanka are the result of the colonial past. The issue of mending these imbalances was politicized during the civil war (1983–2009), and as a way out, the concept of developing organic farming, itself a product of Western cultural hegemony, was proposed. The author notes that instead of admitting partial responsibility for the crisis, the Western media are inclined to blame China for Sri Lanka’s problems. The PRC is believed to have deliberately driven the island into a debt trap. It is assumed that developing countries should solve the problems of Sri Lanka, while it is clear that Western countries will derive the main benefit from the recovery of its economy and return to world production chains.

Regional food markets of the Western borderlands of Russia: adaptation to integration and disintegration processes

The paper reveals the mechanisms of adaptation of food markets in the western borderland of Russia to the integration and disintegration processes that have been taking place on the external and internal borders of the Eurasian Economic Union since 2014. Using the example of the Kaliningrad and Smolensk oblasts, the authors identified changes in the regional food base under conditions of active import substitution, assessed the changes in food preferences of the population, as well as the role of cross-border practices in meeting the population's food needs. Based on the analysis of regional and federal statistics and field research, it was possible to establish that against the background of active investment in agriculture and food production there were three parallel processes: the spatial contraction of agricultural production, the expansion of its production capacity by large agricultural holdings in strictly defined areas (around regional capitals and important transport routes), and the expansion of holdings in selected peripheral areas with the lowest land value. Despite the commonality of the processes, the performance in agriculture and food production and activity in obtaining state support in Smolensk and Kaliningrad oblasts are radically different. Visual inspection of retail outlets, discourse analysis and representative surveys of the population allowed us to conclude that import substitution only partially allowed to provide raw materials and final products to regional food markets in both regions, since most holdings are oriented to meet the demand in high-margin markets inside and outside the country. Food markets in border regions are characterized, on the one hand, by greater vulnerability to integration and disintegration processes, and, on the other hand, by the variability of choice and opportunities for cross-border shopping trips. However, empirical data obtained by sociological methods show that the widespread perceptions of high cross-border mobility of the population of border regions are highly overestimated. The populations of Smolensk and Kaliningrad oblasts are similar in the level of mobility and conservatism with regard to shopping for goods of specific manufacturers of a suitable price segment. The “network” (through intermediaries) penetration of “sanctioned” goods in the Kaliningrad oblast covered a much larger share of the population than that which directly traveled abroad for shopping, so the adaptation of the population to external challenges to the food market was more noticeable.

Understanding Italian consumers' perceptions of tomato agricultural innovation: Exploring the nexus between sustainability, health and consumer beliefs

The growing emphasis on sustainability and health concerns has underscored the necessity for low-pesticide and safe foods, leading to increased adoption of organic production process and Integrated Pest Management (IPM). From this concept emerged the “Zero Residue" certification, while the “Nickel-free" claim serves health-related purposes. These attributes are related to consumer beliefs and, along with intrinsic quality cues such as colour, intervene in consumer decision-making process and result from technological and varietal agricultural innovation. They were evaluated alongside price to examine consumer preferences, using tomatoes as a case study. Conjoint Analysis and Ward's clustering method helped segregate Italian consumers into homogenous market segments based on their stated preferences. Organic production was the most significant attribute, followed by price, the “Nickel-free” claim, and colour. Thus, consumer demand increasingly favours environmentally sustainable and health-focused attributes. The “Zero Residue" concept offers an approach to reduce synthetic fertilizers and pesticides, appealing to environmental conscious consumers. Attributes like “Nickel-free" claim have emerged, which is important for consumers seeking innovative health features. Businesses should diversify products and employ clear labelling to inform consumers about eco-friendly practices. They should also offer competitive prices for innovative tomato products, thus implementing price segmentation may be necessary for diverse consumer segments. Policymakers can engage consumers through educational campaigns, enforce product labelling regulations highlighting health and environmental benefits, and support certification programs.

Using machine learning algorithms to solve data classification problems using multi-attribute dataset

This paper discusses various machine learning techniques such as decision trees, Kohonen maps neural network method, and correlation analysis. The training of neural networks and further comparative analysis was carried out using a real estate price segment classification dataset. The overall quality of the data collected in the dataset was evaluated using the correlation analysis method, while the other methods were used to predict the target variable. The obtained data were summarized in a comparative table. As a result of the work done, a relatively high accuracy was obtained using a large number of parameters in the work of almost all methods, the only exception is the neural network method, which does not work very correctly in the selected software product

PROSPECTS OF THE POST-WAR DEVELOPMENT OF THE FOREIGN ACTIVE TRAVEL SEGMENT IN THE CONTEXT OF THE PREVIOUS CRISIS EXPERIENCE

The current pace of recovery of the global tourism industry after the COVID-19 pandemic demonstrates that the segment of active travel (“Adventure Travel” in the international classification) is the most resilient and adaptive to crises and has shown the most sustainable growth in recent decades (up to 17%). Thus, the segment of adventure tourism (more than 26% of all trips in the world) remains a true locomotive for the development of global tourism.
 In Ukraine, the development of this area has experienced fluctuations related to crises of various scales: from the global financial crisis of 2008, the annexation of Crimea in 2014, and the ATO (Anti-Terrorist Operation) in Donbas to the COVID-19 pandemic of 2020-2021 and the full-scale military aggression of the Russian Federation in Ukraine in 2022. All these shocks and subsequent changes in the mass character, geography, and structure of the active foreign travel segment revealed certain trends. Analysis of these trends can help determine the prospects for the development of this segment in the post-war period.
 The main purpose of the research is to study the development prospects of the foreign active travel segment in Ukraine in the post-war period.
 The article shows the background and describes the process of formation of this segment of travel in the period from the 1990s to the early 2000s. The features of the influence of motivational, geographical, and economic factors on the process of its formation in Ukraine are analyzed. It is shown that at this stage, the expansion of the geography of travel was initiated by amateur hikes, the main form of commercial tours was of a hiking type, and the budget segment prevailed in the price gradation of commercial tours.
 Since the mid-2000s, the popularity of hiking in foreign countries has sharply increased among Ukrainian tourists. The geography of hiking, climbing, river rafting, and trekking tours has grown to dozens of countries in a few years. The growing number and variety of trips abroad and the steady mass demand for commercial, sports, and amateur foreign active trips in the 2010s led to the formation of a new segment of active foreign travel for Ukraine. Unmet growth in demand in the period up to 2014 led to progress and expansion of the range of activities of regional tour operators in all price categories of travel. The budget and middle segment prevailed in the price gradation of commercial tours during this period.
 The article shows the process of formation of geographic and price segmentation of active tours in the market of proposals. The tendencies of changes in the structure of geographical and price indicators of the market during the crisis periods in Ukraine are analyzed. Based on the example of the main operators in this market segment, the trends in the price structure of demand, mechanisms for adaptation, and recovery of the market during the 2014 crisis are analyzed.
 The prospects for the development of the foreign active travel development segment after the end of the war in the medium term are shown.
 In particular, there will be a replacement of tours of the budget and partially middle price segments with domestic tours in regions not contaminated with explosive objects, namely in the Carpathians and Podilia.
 The number of amateur trips abroad will grow, and geography will continue to expand. At the same time, due to the rise in the price of air transportation, the cost of trips can increase by 1.5 times. Perhaps some of the regular customers of commercial tours who are accustomed to hiking conditions will participate in these trips.
 Active travel in the high and partially mid-price segments will remain in demand, as they will remain accessible to the target audience of this category of active travelers, but they will still not be widespread.
 Keywords: adventure tourism, active travel, amateur trips, low-cost airlines.

The impact of real estate agent and firm characteristics on sales prices under different market conditions and price segments

The impact of real estate agent and firm characteristics on sales prices under different market conditions and price segments

Ринок меблів у контексті розвитку ринку соціально квазізначущих товарів

It has been established that the furniture industry is a socially important part of the totality of Ukrainian wood-processing branches of the economy. It covers several enterprises that are engaged in both the production and sale of furniture to satisfy the residential and commercial needs of con-sumers. Products of the furniture industry are popular among consumers in any economic condition; the demand for them depends on the living conditions and income level of the population. In the last pre-war years, Ukraine constantly increased the production and export of furniture. At the same time, the Ukrainian furniture industry is characterized by a high level of competitiveness compared to other sectors of the economy that produce and sell pre-selected consumer goods. However, the furniture market in Ukraine, as well as the markets for other goods, were negatively affected by the conditions of martial law. They led to a decrease in demand for furniture, an increase in prices for raw materials and, accordingly, for finished products, the emergence of problems with raw materi-als and suppliers, damage, and even the destruction of several furniture manufacturers and sellers. However, even in such difficult conditions, Ukrainian furniture manufacturers export their goods to almost 100 countries around the world. In general, important trends in the development of the furni-ture market in Ukraine recently included: the development of the home furniture segment; the emergence and active growth of multi-brand furniture hypermarkets, which allow consumers to view goods from different manufacturers; and the development of online sales of furniture. To adapt to established changes in the environment of their operations, manufacturers and sellers of furniture must make changes in their marketing activities. Taking into account the above trends, it was de-termined that domestic furniture manufacturers need to improve their marketing policy, in particu-lar: develop the standard and semi-luxury price segments, taking into account the limited funds of the main consumers in the conditions of martial law; update the design of the offered furniture, pay-ing special attention to minimalism, loft, and hi-tech styles; more actively use Internet advertising, in particular in social networks; offer consumers the ability to independently determine furniture parameters online (size, color, used materials and accessories, etc.).