Demystifying Premium
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A Brief Primer on the Economics of Targeted Advertising
ECONOMIC ISSUES A Brief Primer on the Economics of Targeted Advertising by Yan Lau Bureau of Economics Federal Trade Commission January 2020 Federal Trade Commission Joseph J. Simons Chairman Noah Joshua Phillips Commissioner Rohit Chopra Commissioner Rebecca Kelly Slaughter Commissioner Christine S. Wilson Commissioner Bureau of Economics Andrew Sweeting Director Andrew E. Stivers Deputy Director for Consumer Protection Alison Oldale Deputy Director for Antitrust Michael G. Vita Deputy Director for Research and Management Janis K. Pappalardo Assistant Director for Consumer Protection David R. Schmidt Assistant Director, Oÿce of Applied Research and Outreach Louis Silva, Jr. Assistant Director for Antitrust Aileen J. Thompson Assistant Director for Antitrust Yan Lau is an economist in the Division of Consumer Protection of the Bureau of Economics at the Federal Trade Commission. The views expressed are those of the author and do not necessarily refect those of the Federal Trade Commission or any individual Commissioner. ii Acknowledgments I would like to thank AndrewStivers and Jan Pappalardo for invaluable feedback on numerous revisions of the text, and the BE economists who contributed their thoughts and citations to this paper. iii Table of Contents 1 Introduction 1 2 Search Costs and Match Quality 5 3 Marketing Costs and Ad Volume 6 4 Price Discrimination in Uncompetitive Settings 7 5 Market Segmentation in Competitive Setting 9 6 Consumer Concerns about Data Use 9 7 Conclusion 11 References 13 Appendix 16 iv 1 Introduction The internet has grown to touch a large part of our economic and social lives. This growth has transformed it into an important medium for marketers to serve advertising. -
The Market for Real Estate Presales: a Theoretical Approach [Electronic Version]
Cornell University School of Hotel Administration The Scholarly Commons Articles and Chapters School of Hotel Administration Collection 2012 The aM rket for Real Estate Presales: A Theoretical Approach Robert Edelstein University of California, Berkeley Peng Liu Cornell University School of Hotel Administration, [email protected] Fang Wu Citadel Asset Management Follow this and additional works at: http://scholarship.sha.cornell.edu/articles Part of the Real Estate Commons Recommended Citation Edelstein, R., Liu, P., & Wu, F. (2012). The market for real estate presales: A theoretical approach [Electronic version]. Retrieved [insert date], from Cornell University, School of Hotel Administration site: http://scholarship.sha.cornell.edu/articles/1007/ This Article or Chapter is brought to you for free and open access by the School of Hotel Administration Collection at The choS larly Commons. It has been accepted for inclusion in Articles and Chapters by an authorized administrator of The choS larly Commons. For more information, please contact [email protected]. The aM rket for Real Estate Presales: A Theoretical Approach Abstract Presale agreements have become a pervasive worldwide practice for residential sales, especially in many Asian markets. Although there is a burgeoning empirical literature on presales agreements, only a few papers actually address their theoretical foundations. We create a set of interrelated theoretical models for explaining how and why developers and buyers engage in presale contracts for non-completed residential dwellings. Given heterogeneous consumer beliefs about future market prices, developers and buyers enter into presale agreements to mitigate, two intertwined, fundamental risks: those of real estate market valuation and default. Our analyses are consistent with prior empirical findings and provide additional theoretical insights for understanding the market for presales. -
Pioneering Tool to Manage Media Industry's Digital Carbon Footprint 13 January 2020
Pioneering tool to manage media industry's digital carbon footprint 13 January 2020 industry understand and manage the carbon impact of digital media. Mapping the carbon footprint of digital services like advertising, publishing and broadcasting is difficult because the underlying technological systems are hugely complex and constantly shifting. Media content passes through content delivery networks, data centres, web infrastructure and user devices, to name just a few, with each element of the delivery chain having different owners. With climate change high on the agenda, DIMPACT The online tool with help media industry manage its will allow participating companies to understand digital carbon footprint. Credit: Pixabay/ University of their 'downstream' carbon impacts, right through to Bristol the end-user. This, in turn, will enable more informed decision-making to reduce the overall carbon footprint of digital services. A collaboration between computer scientists at the University of Bristol and nine major media "We know that more and more of our interactions companies, including ITV and BBC, will help the happen online, and screens play an ever more media industry understand and manage the important role in our lives. We can say with significant carbon impacts of digital content. absolute certainty that the digital economy will continue to grow. What we don't know is how those The 12-month collaboration, facilitated by modes of digital consumption translate into carbon sustainability experts, Carnstone, will see impacts and where the 'hotspots' reside. DIMPACT University of Bristol researchers working with will change that," said Christian Toennesen, Senior sustainability and technology teams at the BBC, Partner at Carnstone and DIMPACT's initiator and Dentsu Aegis Network, Informa, ITV, Pearson, product manager. -
Premium Brands Holdings Corporation Announces The
Premium Brands Holdings Corporation announces the acquisition of C&C, the creation of a national protein distribution and trading platform, and a $75 million bought deal of 4.65% convertible unsecured subordinated debentures NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES. The Acquisition Premium Brands Holdings Corporation ("Premium Brands" or the "Company") (TSX:PBH), a leading producer, marketer and distributor of branded specialty food products, is pleased to announce it has entered into a definitive agreement to acquire substantially all of the assets and business undertakings of Montreal based C&C Packing Inc. and its affiliate, Premier Meat Packers (2009) Inc. (collectively “C&C”). The aggregate purchase price, subject to certain customary adjustments, will be approximately $146.0 million, consisting of $102.0 million in cash, the issuance of 514,579 Premium Brands common shares and consideration of $20.0 million which is subject to possible reductions if certain post- acquisition earnings targets are not realized. C&C, with annual sales of approximately $250 million, is a leading supplier of a variety of fresh and frozen meat products to retailers and foodservice distributors across central and eastern Canada. It was founded in 1974 by Mr. Stanley Cons who, along with his two sons Ronnie and Michael, currently own and operate the business. “C&C perfectly complements our protein distribution and trading initiatives in western Canada and, with its strong and experienced management team and state-of-the-art facilities, will enable us to create a unique national platform in another niche market segment,” said Mr. -
Monthly Business & Tech-Enabled Services Sector Summary Report
BUSINESS AND TECH-ENABLED SERVICES SECTOR REPORT March 2018 1 BUSINESS & TECH-ENABLED SERVICES DEAL DASHBOARD $94.4 Billion 788 M&A Volume YTD M&A Transactions YTD Quarterly M&A Volume ($Bn) and Deal Count Select M&A Transactions 100 $94.4 Announced Date Acquirer Target EV ($MM) 80 3/29/2018 NA 60 $48.5 $45.1 $45.5 $37.1 3/29/2018 NA 40 $31.1 $24.6 $27.4 $26.9 $19.1 $19.2 $21.7 Volume ($Bn) Volume $14.9 20 3/28/2018 $4,000 (Sig. M inority Stake) 0 3/26/2018 NA Q1 '15Q2 '15Q3 '15Q4 '15Q1 '16Q2 '16Q3 '16Q4 '16Q1 '17Q2 '17Q3 '17Q4 '17Q1 '18 (Investment) 1200 3/21/2018 NA 966 944 964 995 986 1000 901 929 917 875 894 797 788 788 800 3/21/2018 NA 600 3/19/2018 $1,180 Deal Count Deal 400 200 3/15/2018 $383 0 Q1 '15Q2 '15Q3 '15Q4 '15Q1 '16Q2 '16Q3 '16Q4 '16Q1 '17Q2 '17Q3 '17Q4 '17Q1 '18 3/15/2018 NA (1) Last 12 Months Business & Tech-Enabled Services Performance vs. S&P 500 3/14/2018 NA (Investment) 125.0% 3/13/2018 $205 120.0% 115.0% 3/13/2018 NA 110.0% 105.0% 3/12/2018 $108 100.0% 3/6/2018 $564 95.0% 90.0% 3/5/2018 NA Apr-17 May-17 Jun-17 Jul-17 Aug-17 Sep-17 Oct-17 Nov-17 Dec-17 Jan-18 Feb-18 Mar-18 Apr-18 Business & Tech-Enabled Services S&P 500 3/1/2018 NA (Investment) Notes: 2 Source: Capital IQ and PitchBook. -
CARAT Client: MANAPPURAM a Trading Division Under Dentsu Manappuram Finance Ltd Aegis Network Communications Lndia Private Limited
6*ep COTIFIDENTIAL DENTSU AEGIS NETWORK SERVICES AGREEMENT COMMERCIAL TERM SHEE]' .: . l:r : :r '::: :PARi[IES:, Agepc CARAT Client: MANAPPURAM A trading division under Dentsu Manappuram Finance Ltd Aegis Network Communications lndia Private Limited Cl N : U74300MH1986PTC039002 Address: 601-8 Wing, Poonam Chambers, Addr.€.' w l 47O (old) W63BA (New), l:, l:- l1 . ,:1:: l'1. Manappuram House, Valapad, DR. A B Road, Worli, Mumbai- :,:.1:; :.1 r:::::i.: l; !;ii, r. '- 400018 ir:. r::r:-:. l Thrissur, l(erala,lndia - 680 567 TERIV'Ii' rl GI Start,Date: .TUN€ >o\'t O I Tu uY wlV 30 ;l X AUTO RENEW EI --l-lrrlf-r- : - -:: _::-: CI SERV-leEil ,:,.;i; - -,. ;:N -"i Qr- AII lndia except Kerala iht d t- *i tr lVledia Services ril ;i D Creative Services ;; it ]> "-t Z E other Services 1.) )j U p F The Services are more particularly described in each applicable Statement of Wofk.s* BilbS U Mediir I Offline # nEffitr i i,lr, i : r::. r tr'Out of Home H $HHtr i"il s s#fi* li ili El Digital Services {including Display, Performance, SEM, Social, Mobile) ff oSi*x 'l itii H !s!)ttr , $t*="' tf ("T&Cs") nd schedrrles ttw,rijq$-.i This Commercial Term Sheet must be read alongside the Terms and Conditions and schedullgs H are attached to this CommercialTerm Sheet. The T&Cs and schedules, together with this Commercial TEm S h'dct fr paYties; aand' entered into on 08 day of April 2019 constitute a binding agreement f'Agreement") between the 0l will apply to any media schedule, work order and/or any services supplied to the Client by Agency duringI trne Executed for and on behalf of CIi nt//":;. -
Customer Loyalty Marketing Strategies
Essential Strategies for Customer Loyalty Marketing Ignite Guide AN ELEVEN-MINUTE READ INTRODUCTION Deepening customer relationships is key to unlocking revenue potential Loyal customers spend more1. That fact alone should be reason enough for brands to leverage loyalty marketing programs. But the benefits extend far beyond increased revenue—loyalty programs help brands increase customer retention, customer lifetime value (CLTV), brand awareness, and customer satisfaction. They also provide companies with greater opportunities to capture rich first-party customer data. This data not only powers personalized customer experiences but allows for better, more-informed business decisions. In short, loyalty marketing programs should a program that resonates with their customers and What’s inside? be an essential part of every company’s engages with them across all touchpoints, it Customer loyalty marketing, defined 3 customer acquisition and retention strategy. creates an opportunity to become more customer- But many companies are unsure how to launch focused and omnichannel. Build your foundation 5 a loyalty initiative. Five steps to get started 6 This guide will help marketing leaders responsible in customer loyalty marketing From choosing the right type of program to for loyalty, branding, customer relationships, The power of customer 9 determining the level of investment to figuring out and customer retention and acquisition to better loyalty marketing how to promote it to the audience, customer loyalty understand how to deepen customer relationships marketing is a big undertaking—but a worthwhile through loyalty marketing—and how to launch Use Oracle to form deeper 10 connections with your customers one. When brands take the necessary steps to launch and optimize loyalty programs. -
What Is Premium Loyalty? • Free Vs
FREE VS. FEE: WILL CUSTOMERS PAY FOR THE RIGHT PREMIUM LOYALTY PROGRAM? inteqinsights.com VIP, MEMBERSHIP OR PREMIUM LOYALTY PROGRAMS With the abundance of loyalty programs in the market today, it’s no wonder consumers have become immune to offers and incentives. Yet, premium loyalty programs (often called VIP, Membership, or Paid Loyalty) are paving new ground in this mature field. In a tough competitive market, retailers as diverse as Amazon, Restoration Hardware and GameStop are using premium loyalty programs to take customer engagement, customer loyalty and incremental revenue to new heights. WHAT’S INSIDE? • WHAT IS PREMIUM LOYALTY? • FREE VS. FEE • WILL CUSTOMERS PAY FOR LOYALTY? • WITH FREE LOYALTY, WHAT’S THE RISK? • WHO’S DOING PREMIUM LOYALTY WELL? • IS PREMIUM LOYALTY RIGHT FOR YOU? WHAT IS PREMIUM LOYALTY? Just about any time you visit a retailer, you’re asked if you are part of their rewards program. You give the cashier your phone On average, number, acquire points, and eventually, receive a reward in the form of coupons or discounts. households belong to Sign up. Get a Card. Get points. Loyalty progarms are usually that simple. 29 If consumers have loyalty cards or apps for just about every loyalty retailer, is this really loyalty? programs, How do you differentiate your loyalty program and keep your yet are only best customers coming back for more? Enter, premium loyalty. Premium loyalty programs are designed to help brands engage active in their best customers. By providing a premium level of access to experiences, savings and valuable benefits that go beyond what a free loyalty program offers, you integrate your brand into 12 a customer’s everyday life and strengthen the relationship they have with your brand. -
Premium Payback
PREMIUM PAYBACK Retail Payments Solution Effectively managing your retail payments strategy Consumer Satisfaction means unlocking consumer demand, while lowering Consumers are driven to your store when costs and squeezing every last penny out of revenue. you are identified as a network partner. • 56% of consumers felt FIS Premium PaybackTM will connect your stores with millions of consumers Premium Payback was a better looking to redeem their bank loyalty points as currency at your register. value than other redemption options • Not only does this not cost you anything, but it reduces interchange fees and select retailers may receive additional • 88% of consumers would revenue per transaction by FIS redeem their points again for purchases rebates • Being in the exclusive network will help: • 90% of consumers rated their o Increase brand awareness redemption experience as a four o Generate new demand or five out of five o Increase traffic for new and existing customers 1. Shop 2. Pay 3. Accept Premium Payback works Customers are surprised and A frictionless experience for existing customers and delighted at the checkout POS allows customers to drives new in-store traffic. when given choice to redeem complete a transaction just points for dollars off of the as they would normally do. purchase price. fisglobal.com ©2019 FIS and/or its subsidiaries. All Rights Reserved. Premium Payback: Retail Payments Solution Value to the Client Our Premium Payback network has revolutionized loyalty rewards redemptions. FIS technology has linked millions of payment cards with loyalty programs, enabling redemptions at the point of sale (POS). The network has significantly increased the discretionary spend for bank loyalty members, and they’re looking for new merchants to shop. -
Insurtech Q4 2019 Earnings Call Synopsis
PPI QUARTERLY EARNINGS SYNOPSIS Insurance Technology (InsurTech) Presented by 7 Mile Advisors & Paradigm Partners International | Q4 2019 PPI 1 Securities offered through 7M Securities, LLC - Member FINRA/SIPC 1 PPI CONTENT Team & Transaction Experience Summary Public Basket & Valuation Trends Earnings Call Overview Transactions 7 Mile Advisors and Paradigm Partners International appreciate the opportunity to present this confidential information to the Company. This document is meant to be delivered only in conjunction with a verbal presentation, and is not authorized for distribution. Please see the Confidentiality Notice & Disclaimer at the end of the document. All data cited in this document was believed to be accurate at the time of authorship and came from publicly available sources. Neither 7 Mile Advisors nor 7M Securities make warranties or representations as to the accuracy or completeness of third-party data contained herein. This document should be treated as confidential and for the use of the intended recipient only. Please notify 7 Mile Advisors and Paradigm Partners if it was distributed in error. 2 PPI THE TEAM Veteran of more than forty years in the insurance Managing Director with over 30 years of domestic business. He became Chief Operations Officer for and international insurance industry experience. Jim Transamerica Life Insurance and Annuity Company Galli has focused heavily in product development, in 1978; he then served in several senior underwriting, channel marketing and distribution management and board positions, lastly as expansion. Jim has served Legal & General America, SIMON BAITLER JIM GALLI Executive Vice President and Chief Administrative MetLife, AIG, and MassMutual. Managing Director Officer for the Transamerica Life Companies, and Managing Director SCOR Reinsurance. -
Annual Report 2018
Annual report 2018 Annual report 2018 ARCOVER2018_NEW.indd 1 18/06/2018 12:53 Countries - Places mentioned in The Economist United s s s States London mentioned in The s s s Economist Brazil Equator s s s Britain Nigeria South Africa s s s Germany Iran s s s Number India mentions , , , of Russia s s s China Australia Japan The bubbles are sized to the number of mentions of city and country names in The Economist’s archives from -, and chart the newspaper’s growing global reach throughout its history. ARCOVER_INSIDE2.indd 1 18/06/2018 12:12 CONTENTS ANNUAL REPORT STRATEGIC REPORT 3 Five-year summary 4 Group overview 5 From the chairman 6 From the chief executive 7 From the editor 8 Business report REPORT AND ACCOUNTS GOVERNANCE 16 Directors 17 Trustees, Board committees 18 Executive team 19 Directors’ report 23 Directors’ report on remuneration 26 Financial review CONSOLIDATED FINANCIAL STATEMENTS 29 Independent auditor’s report to the members of The Economist Newspaper Limited 32 Consolidated income statement 33 Consolidated statement of comprehensive income 34 Consolidated balance sheet 35 Consolidated statement of changes in equity 36 Consolidated cashflow statement 38 Notes to the consolidated financial statements COMPANY FINANCIAL STATEMENTS 80 Company balance sheet 81 Company statement of changes in equity 82 Notes to the company financial statements NOTICES 94 Notice of annual general meeting 1 FRONT2018.indd 1 20/06/2018 15:39 FRONT2018.indd 2 20/06/2018 15:14 STRATEGIC REPORT Five-year summary IFRS UK GAAP 2018 2017 2016 2015 -
Cross-Media Audience Measurement Standards (Phase I Video)
MRC Cross-Media Audience Measurement Standards (Phase I Video) September 2019 Final Sponsoring associations: Media Rating Council (MRC) American Association of Advertising Agencies 4A’s Association of National Advertisers ANA Interactive Advertising Bureau (IAB) Video Advertising Bureau (VAB) Final Table of Contents 1 Executive Summary ......................................................................................................................... 1 1.1 Overview and Scope ............................................................................................................................ 3 1.2 Standards Development Method ...................................................................................................... 5 1.3 Note on Privacy .................................................................................................................................... 5 2 General Top-Line Measurement ................................................................................................... 6 2.1 Cross-Media Components ................................................................................................................... 6 2.1.1 Duration Weighting .......................................................................................................................................... 9 2.1.2 Cross-Media Metrics Definitions .............................................................................................................. 10 2.1.3 Household vs. Individual Metrics .............................................................................................................