Thursday, August 25, 2016

Pairing Sweet Moscato Wine

Moscato is a wine made with moscato grapes from Italy that give it that sweet and light bodied taste. It has made a resurgence in the past decade as a kind of candy wine.

It is very sweet with lower quality brands made of sugar soaked fruits while higher brands use less sweet and more natural mixtures.

Generally the wine is paired with sweets, fruits, and light salads. Think of chocolate cake and Moscato, strawberry's and moscato, or light salads mixed with fruits and nuts.

Some have argued you can also use it with Thai and other spicy foods. The sweetness dulls the aftertaste of spicy foods.

Although not ideal for sushi but the mix didn't seem to be right. A dull sushi and a bright wine damaged each other. Just because it is white looking doesn't mean it goes well with fish.

When your having your next birthday party or cake consider serving chilled moscato. Keep it in the ice bucket and serve quickly.

27th International Academic Conference

The International Institute of Social and Economic Sciences invites you to participate in the 27th International Academic Conference to be held on October 20-23, 2016 in Prague, Czech Republic, at the University of Economics, Prague.

Web address:
Organize by: IISES

The Value of Marketing Channel Spill Over

Marketing is an essential component to business success because without marketing you don't have much of a revenue source. We sometimes erroneously assume that visitors are attracted from calculating the direct influence of each marketing channel. We don't often take into account the spillover effects of these channels together which could be much more influential than we thought.

Consider a study in the Journal of Marketing Research that shows online purchase channels often work in conversational manners and spill over influence on each other (Li & Kannan, 2014). One channel may lead to a purchase through a different channel at some later point. Simply calculating sales through each channel might not be enough without total sales.

Consider that some people see a product or service as some point in history and don't make a purchase on that day because they don't have money or time. A few weeks pass and they want to make the purchase but don't know where to look. This is where they use search engines and other channels to find the product.

If this multi-channel spill over is happening in one company it is also happening with others. In our example, the customers searching out a product they saw a few weeks ago would ultimately see similar type products while searching online that could lead to a loss of sales.

Understanding how spill over works with multiple channels helps us not evaluate channels only in isolation to determine their effectiveness. Sometimes a purchase is not made until later or the purchase is completed after multiple exposures. Evaluating channels individually and in a mix creates to points of viewing their effectiveness.

Li, H. & Kannan, P. (2014). Attributing Conversions in a Multichannel Online Marketing Environment: An Empirical Model and a Field Experiment. Journal of Marketing Research, 51 (1).

The Benefits of Lap Swimming

Lap Swimming improves your overall health by providing a unique workout that increases your cardiovasular health and muscle strength. Keeping a routine like 30 minutes 3X a week is helpful to losing weight and getting in shape.

Cardio: Keeps your blood pumping, your cardiovascular system in good health and reduces fat deposits.

Trains Your Lungs: When underwater your body adapts to use oxygen more efficiently creating benefits for your whole body.

Resistance: 12-16% more resistance when working out in the water when compared to land leading to increased muscle tone and cardiovascular benefits.

Keeping Cool: Water distributes heat and reduces the chance of overheating.

Low Impact: Almost no damage to joints and ligaments. No jumping, bumping, or repetitive impact.

Muscle Stretch and Range: As you swim different styles your muscles will stretch and create greater ranges of motion in its own form of yoga.

Reduces Stress: While exercise helps to reduce stress being in the water also dulls your senses allowing you to feel calm.

Hits all the Small Muscles: Going to the gym works all the large muscles but swimming will work all the neglected small muscles.

Economics as Numbers or Behaviors?

All economics is behavioral. Most people think of economics as the science of serious number crunching. It is true that numbers are the general way in which we report items. How much money was spent, labor hours, GDP, etc....but the numbers are only a tool of measurement. Whether we are discussing Rational Choice Theory, Bounded Rationality, Prospect Theory, Duel-Systems theory or just about any other theory we are basically talking about behavior.

Looking at the numbers can give you trends about behaviors but are not part of the subset of data you need understand how people think and why they make the decisions they do. Fields like neuro-economics help us understand how on a subconscious level we make decisions that impact purchasing choices that lead to large scale economic data.

It is important to remember that all large scale data is a collection of individual behaviors. These behaviors are based on how we feel about items, our needs and how we view the world around us. For example, if we believe we are getting a new job then we might spend more while if we feel our prospect are less we might spend less.

It is assumed we are all rational in our thoughts. This isn't always the case. We sometimes base our decisions on feelings and emotions. Mom's apple pie memories might push us to purchase apples, apple soap, or apple candles because it makes us "feel" good. The same an be said for our self-image and how it could also impact our the types of purchases we make to maintain that image.

It is assumed that all people are trying to enhance their position in life and hope to find prospects for doing this. They will move through different decision making models as they determine the best choices for themselves. They might think intuitively and then move to more objective cognition. The end result is choices lead to micro economic activities and then to macro economics that have national significance.