The Demand for Consumer Durables

Grieves, Robin

doi:10.2307/1992482

Cited by 12 publications

(7 citation statements)

References 2 publications

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“…They consider "future stream of income" and save/earn (over his normal income) to afford them. The influence of income is noted in the models developed by Grieves (1983), Mishkin (1976), andde Ruiter andSmant (1999). The other variables that have been used in durables estimation include price or inflation (Alessie, Devereux, & Weber, 1997;Clarida, 1996;Madsen, 2001;Steffens, 2001), credit conditions referring to consumer borrowing (Alessie et al, 1997;Grieves, 1983), consumer debt (de Ruiter & Smant, 1999), business cycles (Nadenichek, 1999), real interest rate (Alessie et al, 1997;Clarida, 1996;Mishkin, 1976), unemployment rate (a risk factor), utility (Fine & Simister, 1995), and product characteristics and promotions efforts (Bayus, Hong, & Labe, 1989).…”

Section: Demand Estimation Of Durablesmentioning

confidence: 98%

“…Diffusion studies paid special attention to the rate of change and the peak (market saturation) is estimation. Some of the notable diffusion studies that used durables as examples include Gatignon, Eliasberg, and Robertson (1989), Golder and Tellis (1997), Grieves (1983), Heeler and Hustad (1980), Jain and Rao (1990), and Kamakura and Balasubramanian (1988).…”

Section: Demand Estimation Of Durablesmentioning

confidence: 99%

“…Where, Yi = Ownership of durables per 100 households in country i X 1 = Per capita income (INCOME) X 2 = Per capita energy consumption (ENERGY) X 3 = Life expectancy at birth (LIFEXP) X 4 = Percentage of urban population (URBAN) X 5 = Percentage of female in the labor force (FEMALE) α =Intercept e = Error term Alessie et al (1997), Besley andLevenson (1996), Freedman (1970), Grieves (1983), Mishkin (1976), andde Ruiter andSmant (1999) ENERGY: Per capita energy consumption as an indicator technological growth in a society. Technology shapes the social, cultural, and economic behavior of the people.…”

Section: Multiple Regression Modelingmentioning

confidence: 99%

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Market Potential Estimation in International Markets: A Comparison of Methods

Waheeduzzaman¹

2008

Journal of Global Marketing

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Marketers use various market potential estimation techniques in international markets. These include method of analogy, proxy indicators, chain ratio method, time series analysis, and multiple regression modeling. This study shows how demand or market potential can be estimated using these methods and compares the findings. The study should be useful to both managers and academics interested in the theory and practice of demand estimation. Although emerging markets and durables are used as examples, the methods discussed are universal and can be applied in any country market.Marketers have undertaken primary and secondary research to estimate the demand or market potential for goods and services in international markets. They rely on more secondary research over primary because of the cost and its simplicity in implementation. Various models, methods, and measurements have been suggested to estimate market potential in international markets in this regard. It would be hard to find any model or method that is flawless. Usually, the needs of the researcher and the problems relating to estimation make one method more desirable over the other. The problems related to estimation include precision (or robustness) in estimation, predictive power of the model, feasibility in design and implementation, data availability, and cost/benefit of the research. Finding no obvious solution to the above problems, researchers have been forced to cope with unusual circumstances. They had to improvise and adopt creative measures that often result suboptimal

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Section: Demand Estimation Of Durablesmentioning

confidence: 98%

Section: Demand Estimation Of Durablesmentioning

confidence: 99%

Section: Multiple Regression Modelingmentioning

confidence: 99%

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Market Potential Estimation in International Markets: A Comparison of Methods

Waheeduzzaman¹

2008

Journal of Global Marketing

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“…Studies also showed that most companies raise their budgets when the economy is recovering (e.g., Andras and Srinivasan 2003;Blank 1962). Two macroeconomic variables -real interest rate and unemployment -were also examined by economists regarding their influence on media expenditures (e.g., Burch and Gordon1984;Dupagne 1997;Grieves 1983;Mankiw 1985;Weber 1975).…”

Section: Factors That Influence the Media Economymentioning

confidence: 99%

Globalization and the Contribution of the Media Economy to a National Economy: A Cross-Country Empirical Study

Zhang¹,

Albarran²

2018

jogs

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This study shows that the overall globalization index has a significant correlation with the percentage of media expenditures in GDP, while the social globalization index is a significant predictor for the percentage of media expenditures in GDP, after controlling for the economic, population, and social variables. These results suggest that globalization influences the contribution of the media economy to a national economy, and different dimensions of globalization have a varying level of influence. The results also suggest that the principle of relative constancy (PRC) does not hold true when applied across countries, and globalization should be one of the explanatory variables that accounts for the variation of the contribution of media economy to national economy across countries.

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“…Consequently, consumers may sensibly borrow the funds to purchase durable goods, matching the payments to the stream of services provided by the durable goods. Anderson and Eastwood [1976], Grieves [1983], Hamburger and Zwick [1977], and Mishkin [1976] have found credit conditions to be an important factor in the demand for durable goods.…”

Section: Consumer Debt and The Economymentioning

confidence: 99%