Residential auction clearance rates – what do they really mean?

The residential market in Melbourne is often referred to as the ‘auction capital of the world’ with approximately 30-35% of housing transfers undertaken via the auction process, most of which are conducted on the weekend and then reported in the media the following day. The most quoted measurement of auction success is via the clearance rate which simply indicates the proportion of signed contracts of sale within the auction process. At the same time the clearance rate can have a relatively large variance where the residential market can traditionally range from very good (i.e. a high clearance rate) to very poor (i.e. a low clearance rate). The subsequent effect on the market can directly increase or decrease demand, predominantly based only on this single measure of the perceived level of auction clearance rates only.

This paper examines the concept of the auction clearance rates and the heavy reliance on the only one measure of success (i.e. the clearance rates), regardless of other variables. The emphasis is placed on the auction clearance rate as one measure of demand in the housing market but within the context of the definition of market value i.e. willing buyer-willing seller. This is supported by a discussion about other variables including the asking price, the auction process itself, marketing considerations and seasonal adjustments. The findings provide an insight into how to correctly interpret the auction clearance rate in the context of the overall supply-demand interactions. Whilst the auction process is clearly an integral part of the residential transfer process it is essential that the auction clearance rate is used with caution and also in conjunction with other variables.

Market research effectiveness and strategy : the buyer's perspective

The study proposed that broad firm strategies should be related to the implementation and perceived performance of the market research function within the firm. The study involved a sample survey of market research buyers who evaluated their most recent market research project. It was found that specialist "market research" or "insights" managers believed market research to be more effective and to provide greater value than did buyers more generalist roles. It was found that the Prospector strategy firms were the most likely strategic group to rate their market research as effective. No relationships were found between the action-orientation or knowledge enhancing dimensions of the market research USER scale and business strategies, suggesting these dimensions aid all strategy types.

Buyer-supplier relationships and brand strategy within commoditised industries : a suggested theoretical framework

Research into commodity markets has identified an increase in non-price based competition. In pursuit of sustainable bases for differentiation, many commodity industries including fresh produce, dairy and meat are introducing branded products. Using the Resource-Based View (RBV), this paper postulates that such branding is influenced by the nature of the buyer-supplier relationship. We suggest that the individual resources and capabilities of trade partners, in addition to the capabilities of that relationship, influence the brand strategies pursued. Moreover, we propose that by combining organisational resources and capabilities and brand strategy in an holistic framework, we may explain variations in buyer-supplier relationship performance.

Expanding the buyer-supplier relationship definition: its antecedents and relationship with performance outcomes

This paper aims to contribute to current buyer-supplier relationship literature through conceptually examining associations between the buyer-supplier relationship itself, organisational antecedents and the external environment. Whilst the presence of relational components within the transaction has been acknowledged, there is, has been, and remains, great difficulty in defining and understanding the dynamics of the buyer-supplier relationship itself. This study aims to address current research limitations and further develop understanding of the dynamics between buyers and suppliers, through a grounded theory research approach. The core focus is to understand the basic motivations and considerations for organisations when potentially considering relationship development with a trade partner. Thus, the organisational attributes that must be apparent and those preferred by potential trade partners are studied. Development of a conceptual model leads to the recognition of three key research questions that are to be addressed in future empirical investigation of the model.

Secure buyer - seller watermarking protocol

In the existing watermarking protocols, a trusted third party (TTP) is introduced to guarantee that a protocol is fair to both the seller and buyer in a digital content transaction. However, the TTP decreases the security and affects the protocol implementation. To address this issue, in this article a secure buyer–seller watermarking protocol without the assistance of a TTP is proposed in which there are only two participants, a seller and a buyer. Based on the idea of sharing a secret, a watermark embedded in digital content to trace piracy is composed of two pieces of secret information, one produced by the seller and one by the buyer. Since neither knows the exact watermark, the buyer cannot remove the watermark from watermarked digital content, and at the same time the seller cannot fabricate piracy to frame an innocent buyer. In other words, the proposed protocol can trace piracy and protect the customer’s rights. In addition, because no third party is introduced into the proposed protocol, the problem of a seller (or a buyer) colluding with a third party to cheat the buyer (or the seller), namely, the conspiracy problem, can be avoided.