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Price reductions take either an integrated form (e.g. a discount shown directly on the price tag) or a non-integrated form (e.g. a discount contained in a coupon sent to consumers and thus separate from the price tag). This research examines how non-integrated versus integrated promotions influence choices among vertically differentiated products. Under an integrated promotion (e.g. $10 off) applicable to multiple products (e.g. original list prices: $50 vs. $30), consumers directly compare these products' post-promotion final prices displayed on their price tags (after a reduction of $10: $40 vs. $20). In contrast, under a non-integrated promotion of the same monetary value, consumers simply compare these products' original list prices ($50 vs. $30) and neglect their post-promotion final prices, which require calculations. The list prices ($50 vs. $30; relative to the final prices: $40 vs. $20) as a basis for price comparison reduce the perceived price difference between these products. Consequently, a non-integrated promotion (compared to an integrated promotion) increases consumers' choice of higher-priced products. A series of experiments (N  = 5,187) demonstrate this effect and support the final price neglect mechanism. Furthermore, although attenuated, this effect still emerges for price reductions of a smaller magnitude or in a percent-off format. [ABSTRACT FROM AUTHOR]

The history of the ora (with the symbol ɸ) as a trade instrument is inextricably linked to the history of Orania, a village on the southern bank of the Orange River in the Northern Cape Province of South Africa. The closest town to Orania is Hopetown (43 kilometres to the northwest). Or ania is about 160 kilometres south of Kimberley, the biggest city in the Northern Cape. Orania has a number of unique features. Firstly, all inhabitants are white and speak Afrikaans, with the implication that this is the language used for all activities (business, education, religion and social interaction). It is therefore viewed as a white Afrikaner cultural enclave. Secondly, the aim of Orania is self-determination as far as its future is concerned. In this context it has been described as a continuation of the Verwoerdian ideal of the 1960s. This aim is supported by “selfwerksaamheid” (loosely meaning “to work with our own for our own”), that is, a policy in terms of which preference is given to the employment of people from Orania. Thirdly, Orania has its own trade instrument, the ora, the symbol for which is ɸ. 2 The ora is described as a coupon used in settlement of cash transactions. Calling the ora currency would be a contravention of the South African Reserve Bank Act, 1989. The Orania Sakekamer [chamber of commerce] issues the ora. It is linked on a one-to-one basis to the South African rand, that is, at a rate of ɸ1,00 = R1,00. The inhabitants of Orania prefer to use ora when referring to amounts and this paper follows the same convention. Literature on Orania refers to the ora and its use in trade, but there is no research focusing on the development of the ora since it was first launched in 2004. This paper seeks to contribute to filling this gap in the existing literature. The ora serves the needs of the inhabitants of Orania. A population census undertaken in Orania in December 2021 and early in 2022 reported the town’s population as 2 377 people, of whom 1 635 were 20 years and older. The same census also showed that Orania comprised 649 households and 220 businesses. Based on the 2021/22 census, the total personal annual income of the residents of Orania in 2021 was estimated at ɸ295 672 222. Per capita personal annual income of the 2 377 inhabitants was therefore estimated at ɸ124 389. Based on the same census data, the annual household income in Orania was estimated at ɸ190 331 179. The difference in estimates cannot be explained in terms of the 2021/2022 census data and was previously highlighted as an area for further research. These estimates show some correlation with the survey data obtained from the 2021 business survey conducted in Orania. Business turnover in 2021 was estimated at Φ281 950 000. More research is necessary to ascertain whether the increase in the value of ora issued correlates at all with the growth rate of economic activity in Orania. If this correlation can be determined, ora in circulation will be a useful indicator of the growth of economic activities in Orania. The growth rate of ora coupons cannot be compared with growth in economic activity because the latter has not previously been calculated on a comparable basis. Recently research was published that will contribute to a basis for determining future economic growth. This research shows that the ora contributes to “community building” (a sense that the residents are building their own future) in Orania and limits cash risks in the town. However, the ora also has certain disadvantages for residents of Orania. Holders of ora coupons and dOra must exchange them for rand in Orania for cash transactions outside the town. Any discount that businesses grant on ora transactions reduces their turnover and gross profit. The fact that ora coupons are not machine-readable increases the administration costs of the coupons. The final conclusion is that the ora is inextricably linked to Orania. The town can exist without the ora, but the ora cannot exist without Orania. [ABSTRACT FROM AUTHOR]

This paper analyzes the optimal level of discount coupons and a point when to introduce it in a situation when firms provide discount coupons to minimize its loss; order cancellations occurred by difficulty in delivering products on time due to an increase in orders. This paper first finds the expected number of order cancellations using the nonhomogeneous Poisson process. Second, the profit function is structured by introducing discount coupons with a multivariate probability function. Findings reveal that offering coupon helps a firm to minimize its loss of profit, but if popularity does not settle down, discount coupon is no use. [ABSTRACT FROM AUTHOR]

Bond is one of the most attractive financial instruments for both investors in the capital market and companies seeking funds for benefit. Investing in bonds often yields fixed income through coupons and also exposes investors to investment risk, such as credit risk. This credit risk encompasses the potential loss arising from a failure to meet credit payment obligations upon maturity, leading to a declaration of default. To proactively address this issue, there is a need to calculate the default probability of a company in order to gain insights into the entire default potential. Previous studies had predominantly employed bond models that assumed ln returns on assets follow a normal distribution. However, realworld ln returns on traded assets exhibited characteristics including excess kurtosis and heavy tails, which diverged from the assumptions of a normal distribution. The models developed on this assumption did not accurately reflect the nature of the data. In order to bridge this gap, this study aimed to introduce a novel approach for gauging default probability through the use of the Variance Gamma model. The chi-square test is used to determine goodness of fit. The Variance Gamma parameter estimation used Maximum Likelihood Estimation (MLE), with the initial value being the outcome of parameter estimation through the moment method. This approach assessed default probability in the context of both one-period and two-period coupon value payments. [ABSTRACT FROM AUTHOR]

Copyright of Marketing (0354-3471) is the property of SEMA - Srpsko udruzenje za Marketing i Ekonomski fakultet Beograd and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)

Sales promotion activities are generally short-term in nature and aim to encourage short-term purchases of products or services. Through consumer research, companies are able to identify those sales promotion activities that have the strongest impact on consumer satisfaction. Therefore, the subject of the research is the consideration of the relationship between sales promotion methods and the creation of consumer satisfaction. The aim of the research is to determine the effects of sales promotion methods on the creation of consumer satisfaction. Accordingly, an empirical research was conducted using the survey method on a convenient sample of 205 respondents. Descriptive statistical analysis, correlation analysis, multiple regression analysis and moderation regression analysis were applied in the work. The obtained research results identified key methods of sales promotion (discounts, bonus packs, coupons) that significantly affect the creation of consumer satisfaction, which can enable greater investment and focus of the company on certain methods of sales promotion during future operations. In this way, the company can realize numerous benefits through improving its competitive position on the market, minimizing costs and realizing profits. The contribution of this paper is reflected in the testing of the moderating role of loyalty on the relationship between sales promotion methods and consumer satisfaction, because previous researches are more focused on testing main rather than interaction effects.

To seek more business opportunities, cross-market retailers pursue horizontal joint promotion (HJP) to promote their products together. It is important to determine the factors that make cross-market retailers pursue HJP and how HJP affects the retailers' optimal decisions. We address such issues in the context of a shopping mall in which two cross-market retailers pursue HJP with the possible involvement of the shopping mall. We develop game-theoretic models to study whether the shopping mall should provide consumers with coupons that they can obtain from the retailer in the source market and consume at the retailer in the target market. We find that when coupons are offered to consumers, the retailer in the source market has a higher price and will pay more for HJP, but has a smaller demand and a lower profit than the retailer in the target market. Furthermore, when the effect of the coupon is relatively large, both retailers prefer the coupon as they can have higher prices, demands, and profits, and their promotional strategies change with the denomination and effect of the coupon. Conversely, both retailers would reduce investments in HJP because the coupon may bring them lower profits. [ABSTRACT FROM AUTHOR]

We present an empirical framework for creating dynamic coupon targeting strategies using deep reinforcement learning. We present an empirical framework for creating dynamic coupon targeting strategies for high-dimensional and high-frequency settings, and we test its performance using a large-scale field experiment. The framework captures consumers' intertemporal tradeoffs associated with dynamic pricing and does not rely on functional form assumptions about consumers' decision-making processes. The model is estimated using batch deep reinforcement learning (BDRL), which relies on Q-learning, a model-free solution that can mitigate model bias. It leverages deep neural networks to represent the high-dimensional state space and alleviate the curse of dimensionality. The empirical application is in a multibillion-dollar livestream shopping context. Our BDRL solution increases the platform's revenue by twice as much as static targeting policies and by 20% more than the model-based solution. The comparative advantage of BDRL comes from more effective and automatic targeting of consumers based on both heterogeneity and dynamics, using exceptionally rich, nuanced differences among consumers and across time. We find that price skimming, reducing discounts for attractive hosts, and increasing the coupon discount level at a faster rate for low spenders are effective strategies based on dynamics, consumer heterogeneity, and the two combined, respectively. History: K. Sudhir served as the senior editor and John Hauser served as associate editor for this article. Funding: Partial financial support was received from the NYU Center for Global Economy and Business. Supplemental Material: The data files and online appendices are available at https://doi.org/10.1287/mksc.2022.1403. [ABSTRACT FROM AUTHOR]

This paper investigates when an omnichannel brand should offer digital coupons in the online and buy-online-and-pick-up-in-store (BOPS) channels and, if so, the joint decision of coupon face value and store inventory. The impact of a digital coupon promotion on store inventory is also explored. Two scenarios are considered, one where consumers' costs in the online and store channels are homogeneous and another in which they are heterogeneous, and two newsvendor models, with and without a coupon promotion, are constructed under each scenario. The results show that the issuance of coupons improves the omnichannel brand's profit when the price is high and the coefficient of the difference in valuation between two types of consumers is low in the homogeneous scenario. In the heterogeneous scenario, the brand prefers the coupon promotion when the price is high or moderate and the coefficient of the difference in valuation between two types of consumers is high. In addition, offering a coupon promotion yields a higher store inventory in most cases. However, store inventory is decreased in some special cases in the homogeneous scenario. Moreover, an increased hassle cost in the BOPS channel significantly lowers the offline demand and profit increase from a digital coupon promotion. Furthermore, a coupon promotion is more likely to benefit both the brand and consumers as the cross-selling revenue increases. These results provide guidance for omnichannel brands to implement coupon promotions and adjust store inventory with stochastic demand. [ABSTRACT FROM AUTHOR]

This study directly compared the data obtained from coupon studies and flow‐through pipe rack studies from two sources in the Denver Water system. The pipe rack study was completed over multiple years using harvested lead service lines. The coupon studies were completed in about 2 months using pure lead coupons. Orthophosphate at 2 mg/L was found to reduce lead concentrations by about 81% in the pipe racks, whereas 74%–81% was observed in the coupons. At an orthophosphate dose of 1 mg/L lead concentrations were reduced by 62%–65% in the pipe loop and by 55%–75% in the coupons, pH at 8.8 reduced lead by 45%–60% in the pipe racks and by 27%–48% in the coupons. The pipe racks were able to give insights into the transition from one condition to another, which is time‐based and dependent on existing pipe scales. Both types of demonstration studies produced similar conclusions about treatment options. The pipe rack was more representative of conditions in the distribution system while the coupon studies were performed in a fraction of the time. [ABSTRACT FROM AUTHOR]

The CDC Biofilm Reactor method is the standard biofilm growth protocol for the validation of US Environmental Protection Agency biofilm label claims. However, no studies have determined the effect of coupon orientation within the reactor on biofilm growth. If positional effects have a statistically significant impact on biofilm density, they should be accounted for in the experimental design. Here, we isolate and quantify biofilms from each possible coupon surface in the reactor to quantitatively determine the positional effects in the CDC Biofilm Reactor. The results showed no statistically significant differences in viable cell density across different orientations and vertical positions in the reactor. Pseudomonas aeruginosa log densities were statistically equivalent among all coupon heights and orientations. While the Staphylococcus aureus cell growth showed no statistically significant differences, the densities were not statistically equivalent among all coupon heights and orientations due to the variability in the data. Structural differences were observed between biofilms on the high-shear baffle side of the reactor compared to the lower shear glass side of the reactor. Further studies are required to determine whether biofilm susceptibility to antimicrobials differs based on structural differences attributed to orientation. • Standard test methods enable regulators to make informed decisions. • Biofilm grown using the CDC Biofilm Reactor is used for US EPA biofilm product label claims. • Psd aeruginosa log densities were statistically equivalent across all coupon orientations within the CDC biofilm reactor. • Staph aureus cell growth showed no statistically significant differences when grown according to the standard method. [ABSTRACT FROM AUTHOR]

[Display omitted] • Demonstrated Transient Temperature Difference (TTD) between the cell other layers. • 1D FEA model developed using detailed energy balance equations for 72 cell module. • TTD between cell and backsheet can lead to ∼ 7% error in temperature coefficients. • Glass-Glass modules have even higher errors in temperature coefficients. • Procedure to minimize errors due to TTD is also presented. Accurate measurement of cell temperature inside a PV module is critical for the accurate measurement of Temperature Coefficients (TC) and Current-Voltage (I-V) characteristics corrected to Standard Test Conditions (STC). Estimating the cell temperature from the backsheet temperature while the module is heating or cooling is non-trivial because of the time-varying temperature difference between the cell and the backsheet. In this study, transient temperatures (for cell, EVA, front glass and backsheet) during heating and cooling are experimentally recorded for an inhouse laminated 4 cell multi c-Si PV coupon by inserting thermocouples during lamination. A One-Dimensional (1-D) transient simulation model using Finite Difference (FD) method is developed to observe the temperature profile along the thickness of the PV coupon. It is also used to obtain the temperature profiles for various layers for a full size 72-cell PV module as well as a glass-glass module with otherwise similar Bills of Materials. The maximum temperature difference observed between cell and backsheet was ∼ 2.35 ℃ for a glass-backsheet module and ∼ 5.3 ℃ for a glass-glass module which are heated to 75 ℃. Also, the transient temperature difference (TTD) showed an exponential decay profile after reaching the peak. The observed transient temperature difference led to ∼+7% error in the measurement of all the temperature coefficients of PV coupon or module if the backsheet temperature is used as a proxy for module / cell temperature. Accounting for this observed transient temperature difference between cell to backsheet leads to an improved accuracy of temperature coefficient measurements. [ABSTRACT FROM AUTHOR]

Coupon instant-disconnect method is an efficient way to evaluate the effectiveness of cathodic protection for buried pipelines. With the increasing measurement demand for pipeline off-potential in the daily management of pipeline cathodic protection, the coupon instant-disconnect method is gradually implemented in China. However, there are still many uncertain factors in the use of the coupon current interruption method, such as the polarization stabilization time and the selection of the coupon size and shape, etc. Through the coupon polarization test on site, the measurement methods and influence factors of the coupon instant-disconnect potential were studied. The results show that the stabilizing instantdisconnect potentials are different after 15-minute polarization for these coupons with different areas, i.e. the smaller the coupon is, the more negative the potential will be. The potential of rectangular coupons is rather more negative than that of circular coupons. The potential of the coupon with deep buried depth is slightly more negative than that of the coupon with shallow depth despite the tiny difference. Finally, some suggestions on the application of coupon instant-disconnect method in engineering were put forward.

The purpose of this study was to evaluate a multifaceted, collaborative approach to supermarket environmental change that included in-store couponing and educational marketing to increase low-fat milk purchasing across a 48-store supermarket chain serving predominately Hispanic customers. Point-of-sale (POS) and process data collected during the 16-week program implementation included in-store radio advertising, in-store signage, and POS coupons. POS data were analyzed by the coupon marketing partner, and a chi-square test was conducted to test for significant differences between groups. POS data indicated that 44,050 low-fat milk coupons were issued to traditional full-fat milk purchasing customers with a redemption rate of 5.3%. Of these, 42% became repeat low-fat milk purchasers (i.e., after initial purchase with coupon, customer re-purchased low-fat milk). Results from the chi-square test revealed significant differences in rates of purchase between those who received a coupon (5.87%) and those who did not (4.00%), (χ2 = 8.61, p = .0033). Findings indicate that collaborative public health efforts between retail and marketing partners to engage supermarket customers in a multifaceted yet targeted intervention are feasible and can shift purchasing behaviors towards a healthy alternative. This study has implications for informing future environmental change supermarket strategies.

This paper investigates when an omnichannel brand should offer digital coupons in the online and buy-online-and-pick-up-in-store (BOPS) channels and, if so, the joint decision of coupon face value and store inventory. The impact of a digital coupon promotion on store inventory is also explored. Two scenarios are considered, one where consumers’ costs in the online and store channels are homogeneous and another in which they are heterogeneous, and two newsvendor models, with and without a coupon promotion, are constructed under each scenario. The results show that the issuance of coupons improves the omnichannel brand’s profit when the price is high and the coefficient of the difference in valuation between two types of consumers is low in the homogeneous scenario. In the heterogeneous scenario, the brand prefers the coupon promotion when the price is high or moderate and the coefficient of the difference in valuation between two types of consumers is high. In addition, offering a coupon promotion yields a higher store inventory in most cases. However, store inventory is decreased in some special cases in the homogeneous scenario. Moreover, an increased hassle cost in the BOPS channel significantly lowers the offline demand and profit increase from a digital coupon promotion. Furthermore, a coupon promotion is more likely to benefit both the brand and consumers as the cross-selling revenue increases. These results provide guidance for omnichannel brands to implement coupon promotions and adjust store inventory with stochastic demand.

The retail market in the Republic of Srpska is one of the fastest growing markets in the last twenty years. And, this is not the case only in the Republic of Srpska and the environment, but also around the world. If so, we are easily convinced by the growth of chains of markets, megamarkets, shopping malls and other specialized retail outlets. It is much easier to achieve growth in the market, and thus business success than maintaining competitiveness in an extremely exploding and relatively well-supplied market, such as the retail market of the Republic of Srpska. One way of retaining competitiveness and simultaneous growth is to improve sales by selling various instruments to stimulate consumers to buy products from a wide range of their own offers. The aim of this research is to determine how and how sales promotion affects consumers’ behavior in purchasing. The entire research is based on confirming hypotheses, and the results obtained can be used in further research and demonstrating how sales promotion instruments affect consumer behavior.

Practice-Oriented Abstract This study examines how two prevalent price promotion strategies (coupons and free shipping) affect online review ratings differently as a function of the temporal distance between purchase and review. Our analysis of online consumer reviews from an e-commerce website matched with actual transactional data finds that coupons have a positive effect on review ratings in the short run but a negative effect in the long run. In contrast, free shipping has a consistently positive effect on review ratings over time. We then conduct two laboratory experiments to provide convergent evidence for the differential effects of coupon versus free shipping on review ratings over time and additionally demonstrate the underlying processes due to perceptions of monetary savings and perceived product quality. Our findings hold a number of important implications for firms. For example, our results suggest that when using coupons to promote product sales, managers should develop strategies that are inductive of consumer reviews immediately after purchase. However, managers may want to rely more on free or reduced shipping to more consistently drive positive review ratings over time. Price promotions can be implemented by either discounting a product's base price (e.g., offering a coupon) or reducing one of its surcharges (e.g., free shipping). This study examines how the two prevalent price promotion strategies affect online review ratings differently as a function of the temporal distance between purchase and review. Drawing upon the framing literature and construal level theory, we argue that whereas free shipping should increase review ratings regardless of temporal distance, coupons should increase review ratings through perceptions of monetary savings when temporal distance is close but decrease review ratings through low perceive product quality when temporal distance is far. Consistent with this argument, our analysis of online consumer reviews from an e-commerce website matched with actual transactional data finds that coupons have a positive effect on review ratings in the short run but a negative effect in the long run. In contrast, free shipping has a consistently positive effect on review ratings over time. A text-mining analysis of the review contents reveals patterns that are consistent with the proposed underlying mechanisms. We then conduct two laboratory experiments that manipulate temporal distance and construal level respectively with real spending and consumptions to provide convergent evidence for the differential effects of coupon versus free shipping on review ratings over time and additionally demonstrate the underlying processes due to perceptions of monetary savings and perceived product quality. [ABSTRACT FROM AUTHOR]

The anchorage of a cable-stayed bridge failed and was subsequently replaced by another anchorage made of SAE/AISI 1045 steel. The new structural component has been assessed by using different options of failure assessment diagrams. Tensile tests were performed on both the base metal and weld metal of a welded coupon composed of SAE/AISI 1045 and ASTM A572 steels. The fracture toughness was estimated from the results of Charpy tests performed on the heat-affected zone (HAZ) of SAE/AISI 1045 steel. In addition, finite element analysis was used to determine the stress state caused by four heavy vehicles (T3-S2-R4 type) localized on one side of the column. Based on two types of postulated defects, the stress state of the tie rods, and the material fracture toughness, the failure assessment diagrams were constructed to predict the critical load that can be withstood by the anchorage and the weld metal. The results indicate that both the SAE/AISI 1045 steel and the weld metal could work safely under typical operating conditions of the bridge, even when there is a detachment of one of the anchorages. The weld metal is susceptible to plastic collapse failure, while the HAZ of the steel is susceptible to a combination of fracture and plastic collapse. It is also noted that the critical stress predicted by Option 1 on the HAZ of SAE/AISI 1045 tends to be more conservative than that predicted by Option 2. The degree of conservatism ranges from 7.8% up to 12% for a superficial flaw and from 6.2% to 15.5% for an embedded flaw. [ABSTRACT FROM AUTHOR]

Purpose: The purpose of this study is to evaluate the corrosion in CO2 using Rotating cage (RC) and Computational fluid dynamics (CFD) software. RC experiments were carried out in a CO2 environment, to evaluate corrosion in a C-Mn Steel. CFD software was used to simulate RC flow conditions during the corrosion process, to evaluate wall shear stress. Design/methodology/approach: The RC is used as a laboratory tool for studies of accelerated corrosion, according to standard ASTM G184-06. Steel corrosion was studied by means of the RC methodology. The hydrodynamics are solved numerically using CFD. Numerical calculations were performed on a 2D geometry of 8 coupons JG, for speeds of 460 and 230 rpm. The flow was analyzed with vector graphics and velocity profiles. The numerical calculations were validated with experimental measurements of the velocity field obtained with the technique of Particle Image Velocimetry (PIV). Findings: Different turbulence models were used, in which CFD simulations were compared with data obtained from PIV. According to this comparison, the best turbulence model was determined. Originality/value: It was found that experimental flow speeds have closer values with Spalart–Allmaras modeling than K-epsilon and K-kl-omega. [ABSTRACT FROM AUTHOR]

Firms spend a lot on coupon promotions and are concerned with their profitability. The characteristics of coupons are associated with success of coupon promotions. This research explores how consumer's regulatory focus (promotion vs. prevention) and product type (material vs. experience) affect when consumers prefer to redeem coupons (coupon redemption time). Results from two studies show that people's prevention goal strength is negatively related to redemption time consumers prefer. Besides, a fit between people's regulatory focus and product type leads to earlier redemption than unfit condition. Specifically, experiential purchases are compatible with promotion-focused consumers and material purchases are compatible with prevention-focused consumers. We discuss the findings in the contexts of coupon research and theory on regulatory focus, and further posit managerial implications for the design of coupon promotions or other marketing activities with limited duration. [ABSTRACT FROM AUTHOR]

Copyright of Share: Journal of Islamic Economics & Finance / Jurnal Ekonomi dan Keuangan Islam is the property of Share Jurnal Ekonomi dan Keuangan Islam and its content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use. This abstract may be abridged. No warranty is given about the accuracy of the copy. Users should refer to the original published version of the material for the full abstract. (Copyright applies to all Abstracts.)