Advances in Economics, Management and Political Sciences

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Volume Info.

  • Title

    Proceedings of the 2nd International Conference on Business and Policy Studies

    Conference Date






    978-1-915371-47-8 (Print)

    978-1-915371-48-5 (Online)

    Published Date



    Javier Cifuentes-Faura, University of Murcia

    Canh Thien Dang, King's College London


  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230414

    A Study on the Continued Development of Darry Ring Based on "True Love Marketing" in the Future Chinese Market

    With fierce competition in nowadays Chinese jewelry market, Darry Ring has become one of the most popular brands by using integrated marketing communication based on the “True Love Marketing”. The aim of this paper is to analyze the strengths and possible problems that Darry Ring may face in its future continued development, in the Chinese market. And the possible of continued development is investigated from four aspects, which are: brand concept, marketing, sales model, and consumer stability. This paper mainly uses methods of desk study and SWOT analysis. And there are four main findings. Firstly, the Darry Ring brand concept will be its unique selling point in the future Chinese market. Secondly, the marketing method used by Darry Ring, i.e., new media marketing, will be one of the strengths for its future development. Thirdly, DR's existing sales model will help it improve its market sensitivity. However, with the used of organizational behavior theory, over-reliance on “Ture Love Marketing” will reduce customer brand loyalty to Darry Ring. And it might become a serious hidden problem in the future development of Darry Ring. The conclusion is that the "True Love Marketing" is not only an opportunity for Darry Ring, but also a pitfall.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230415

    Analysis of Disney's Globalization Development

    Disney, a global leader in family entertainment and media, but Disney will also face certain difficulties with the development of globalization more and more mature. This study looks into Disney's position and growth around the globe and uses SWOT analysis to assess its present state of development and operating environment, and evaluates the issues that have arisen during the internationalisation of Disney by looking into secondary data. Disney has benefits like brand recognition, a variety of products, and strong financial assets, but it also confronts threats from rising competition and unreliable external factors. The first is that stakeholders disagree because of misunderstandings between cultures. Second, the rationality of product design and the flaws in culture will cause reputation to deteriorate. Third, having a wide variety of products presents challenges for marketing. Finally, the instability brought on by a change in leadership. This study offers a number of recommendations for Disney to better manage future worldwide development on the basis of these findings.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230419

    How does the Economic Development Level Cause Difference in the Gender Income Gap: Comparative Political-Economic Research Based on the USA and India

    Since the middle of the 1970s, the variance of the global GDP per capita in the logarithm of PPP prices has been declining. It grew from 1960 to 1968. Later, the growth in intra-country inequality was more than countered by the convergence of income between nations. Two-thirds of the measures of inequality in the world are between nations, three tenths are between families within nations, and twenty percent are variations in gender-based educational outcomes between nations. By contrasting a few situations, this essay seeks to clarify the connection between economic growth and the gender wage gap. Comparing the size of the gender pay gap in nations with various levels of economic development using the USA and India as examples. Then, from three aspects, education, culture, and feminism, and specific policies for reducing the gender income gap, how the variance of economic development level leads to the difference in the gender income gap will be explained and evaluated.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230420

    Research on the Comparison of Sampling with and Without Replacement in Quality Control Test

    The choice of a reasonable and scientific sampling method and the implementation of efficient quality control tests can help companies achieve economic and social benefits. In this paper, probability theory and statistics are applied to provide a basis for enterprises to consider the choice of sampling with and without replacement through case studies and modeling. These two sampling methods lead to binomial and hypergeometric distributions of probabilities, respectively. The differences between them are found to be negligible in the case of large population size by calculations at N→∞. Based on comparison of sampling methods, this paper further divides the manufacturing industry into the chemical industry, which is sensitive to the reliability of quality control test, and other manufacturing industries, which are more sensitive to cost while controlling quality. In the end, suggestions are proposed for improving quality control tests for the category industries respectively.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230424

    The Impact of Public Resource Allocation on Housing Prices – Taking Chengdu as an Example

    This paper examines the impact of public resource allocation on housing prices and uses Chengdu as an example for analysis. By comparing education, healthcare, and transportation in each district of Chengdu, the study finds that public resource allocation and housing prices in Chengdu are positively correlated and that education and healthcare resources are more strongly correlated with property prices. Both public resources and property prices in Chengdu show a general trend of "circle + radial" diffusion, decreasing from the first to the third circle. After comparing the public resources and property prices in each district, it is clear that there is still a large gap between districts. This paper argues that the government should increase the construction of public resources and optimize talent policies in the surrounding areas in order to alleviate the disparity between districts, disperse the pressure on public resources in each district in the first circle, and promote coordinated urban development.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230425

    Small and Medium-sized Enterprises Private Equity Risk Management

    Small and medium-sized enterprises are playing an important role in Chinese economic development. However, due to the lag in system construction, the scale of small and medium-sized enterprises is relatively small; many of these enterprises lack funds, and it is difficult to get loans. The financing difficulty of small and medium-sized enterprises always exists in China, which has become an important reason restricting their further development. In the past, smes used to borrow money from banks to finance their development. They have been borrowing from banks with their assets as collateral, but as the country has adopted a tight monetary policy, most of the loans applied for by smes have been rejected by banks. Private equity fund has the characteristics of low financing threshold and high added value of enterprises, helping many small and medium-sized enterprises to solve the capital problem, enabling them to develop and grow. In the process of private equity fund financing, the macro environment and micro factors bring huge risks to the whole financing process. Therefore, it is necessary to evaluate, analyze and control every risk that may cause financing failure in the financing process. This paper uses the method of literature review, qualitative and quantitative combination, through the construction of small and medium-sized enterprise private equity fund investment risk evaluation index system, from the micro and macro environment to evaluate and analyze the risk, for the analysis of small and medium-sized enterprises may face financing risk to provide effective avoidance measures.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230426

    Analysis on McDonald's Localization Strategy

    McDonald's is a company that was established in 1940 in the United States. Since then, the company has grown in different parts of the world and increased its profitability over time. However, McDonald's has also faced a lot of challenges, including the lack of understanding of cultures in different countries, which resulted in its poor performance. Without completely understanding what the local people think about food, McDonald's expanded its operations to different parts of the world while carrying the culture of the United States to those parts. As a result, the company performed poorly and was unable to expand its operations further. However, through localization strategies, McDonald's has gradually become one of the world's most successful restaurants and food chains. This paper introduces McDonald's localization strategies from five aspects, namely its menu, business model, advertising translation, staff management, and market pricing. To conclude, the company has been able to adapt its menu to be in line with the local culture, and the prices are set according to the local economy. What is more, the localized translation and management also enable the company to avoid and timely solve the problems that are specific to a region. The localization strategies have made McDonald's one of the world’s most successful fast food companies.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230427

    How does Word-of-mouth Marketing Affect Customer Loyalty

    With the development of social media, commercial marketing means are increasing rapidly. Among all the marketing strategies, word-of-mouth still plays a critical role. In addition, there has been a variety of innovations to apply this procedure in promotions. Thus, this article will focus on the relationship between word-of-mouth marketing and consumer loyalty to answer how word-of-mouth marketing improves consumer trust and wins long-term stable consumer groups.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230428

    Impact of COVID-19 on Cost and Profitability---Taking the Service Agency for Studying Abroad as an Example

    After the outbreak of COVID-19 since the beginning of 2020, people were more cautious about the decision to study abroad. Objectively, it was difficult for people to get visas and buy air tickets because of the inconvenience of going abroad caused by the fuse of flights. Subjectively, people were worried about COVID-19 infection, so they tried to avoid leaving their country. As an intermediary, the business mode and the profit model of service agencies for studying abroad were also affected to some degree. In order to figure out how the costs and profitability changes according to COVID-19, many researchers had done some investigations on students who are prone to study abroad. From the perspective of economics, the costs of agencies were found to be rising significantly due to the uncertainty of COVID-19. It included fixed cost, sunk cost, opportunity cost and variable cost. But from another perspective, if an agency could adapt to the new situation as quickly as possible and grasp the new opportunities to offer a wider range of services, it might greatly increase its profits instead. Faced with this, agencies should focus on improving service quality and constantly expanding new service, such as language courses, career planning and internship training. Through cooperation with more high-level universities and famous enterprises at home and abroad, they could provide customers with more comprehensive services, as well as gain more profits.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230429

    The Influences of Pricing Based on Consumer Preference---Taking the ‘Hype Shoes’ Phenomenon as an Example

    In recent years, the phenomenon of “hype shoes” has attracted more and more attention. The “hype shoes” uses consumer preferences to make special pricing and make money on the price difference. To understand how consumer preferences influence pricing strategy, many studies have dissected consumer preferences from the producer’s perspective. In this paper, we analyzed whether a firm’s pricing strategy is reasonable from an economic perspective, and also clarify the importance of consumer preferences in business competition. There are many economic principles behind this phenomenon and it is worth reflecting on them. Studies have found that consumers’ age, gender, occupation and even body size can be used as pricing factors by businesses. Therefore, once a company has more information about a consumer, it can provide personalized services to the consumer, and on the other hand it may use big data discriminatory pricing (BDDP) to earn more money. Through the analysis of the “hype shoes” phenomenon, businesses should learn to correctly grasp consumer preferences and then raise pricing appropriately based on cost. Finally, businesses should know how to properly invest in market research to obtain more consumer data and ultimately adopt a successful pricing strategy.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230432

    Research on China's Economic Situation and Future Expectations under the Epidemic

    The outbreak of the new crown epidemic in 2020 has had a huge impact on societies and economies around the world. The economic downturn has been the norm for the last two years, but it is still important to stay on target and grow. As the world's second largest economy, China's economic development and the factors affecting it in the event of an epidemic are particularly crucial. It is also relevant to sustainable development. This paper examines the extent to which the factors affect the economy through a combination of qualitative and quantitative methods. The current state of the Chinese economy and expectations for future development are analyzed two main topics, the situation of the Chinese economy, and the future development of China and the Sustainable Development Goal. The ratios show that consumption is the main factor influencing the economy. This is followed by unemployment, investment and even taxation. Also comparing the way the US and China stimulate consumption, the conclusion is that because of the different national conditions, the way to stimulate the economy will be different. Finally, in the context of Sustainable Development Goal 8.1 sustainable development goals, it is difficult to achieve an economic growth rate of at least 7% by 2030 because of the unstable economic situation and the constant blow of the epidemic. However, there is a positive expectation for China's future economic development and the economy will gradually recover. There is still a need for a strong development in technology and new energy economy to reach the sustainable development goals.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230434

    The Influence of Status Quo Bias on the Behavior of Micro Subject

    The article uses an online experiment to set a questionnaire to participants in order to investigate the effectiveness of status quo bias in people’s daily life based on the Coca-Cola’s real case in 1985. Since in 1985 Coca-Cola met the commercial failure because of the reformulation of new coke and ignore the effectiveness of status quo bias for consumers. By asking their preferences of two types of coke in different situations, the research tested the impacts almost each explanation of status quo bias on participants’ decision making of which type of coke to buy. The result shows that transition cost, uncertainty and loss aversion all influenced participants decision since most of the participants chose the coke classic instead of new coke. And the article deepened the research of the effectiveness of status quo bias in decision for consumption. Companies could learn from it in order to value the importance of status quo bias in order to avoid the happening of commercial failure, especially when they plan to do the reformulation. And consumers can based on it when they need to make purchasing decision.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230436

    Will Specific Consumer Traits Affect Shopping Behavior, under the Condition of Influencer Marketing?

    This article will mainly talk about the analysis of influencer marketing. We will discuss this topic in 3 different parts, which are gender, age, and location. The data showed that females are generally more affected by influencer marketing, and people under the age of 26 are more affected by influencer marketing. However, the data we collect cannot successfully get the conclusion of location. We have concluded whether the gender, age, and region of customers will affect their degree of influence by influencer marketing. In addition, our research outcome could help brands decide which kind of consumers they should implement influencer marketing to achieve the best results.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230439

    U.S.-China Real Estate Markets in Times of COVID-19

    In 2020, the world experienced the COVID-19 pandemic. This has had an extremely serious impact on the global economy. All industries have been greatly affected by such a severe economic situation. This paper assumes that the real estate market, as a part of the economic market, was also greatly affected. The purpose of this paper is to examine the effects that the real estate markets in China and the United States have suffered under this pandemic and to analyze the specific reasons and motivations behind these effects. Using statistical data from 2017 to 2022, this paper compares housing prices and transaction volumes in six major cities in China and the United States. The results of the study show a result contrary to the hypothesis that the real estate markets in China and the United States recovered after a period of recession and were able to reach higher levels than before the epidemic. Based on this result, the paper analyzes the causes of the impact on the real estate markets in China and the United States. There is evidence that the main causes affecting the Chinese real estate market are real estate policies and cultural phenomena, while the factors behind the impact on the U.S. real estate market are economic policies and epidemic management strategies.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230440

    Analysis of Mobile Game Marketing Strategy - Taking “Honor of Kings” as an Example

    With the development of mobile Internet technology and the upgrading of smart phones, the mobile game market has ushered in a huge space for development. If a mobile game wants to occupy a certain position in the highly competitive market and can develop for a long time, it is necessary to formulate an appropriate marketing Strategy. This paper takes "Honor of Kings" as the main research object, and combines the marketing theory to research and analyze the current marketing strategies of "Honor of Kings", in order to provide reference plans and improvement directions for the marketing strategies of mobile games. In general, strategy of “Honor of Kings” is based on interactive marketing, supplemented by others such as dissemination of live-broadcast platforms.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230441

    Lessons Learned from the Development of the American Venture Capital Industry

    At present, there is a gap between the Chinese entrepreneurial investment industry and the developed countries, and the corresponding regulations of supporting policies are not perfect, which makes it difficult to withdraw funds. Therefore, it can provide a reference for the development of the Chinese venture capital industry by drawing lessons from the past development experience of the American venture capital industry and analyzing the characteristics of the construction and post-stage development of venture capital centers. This paper summarizes the development experience of the American venture capital industry, and puts forward four suggestions for the development of China's venture capital industry: first, the government's active guidance and policy support. Second, pay attention to the management of professional talents. Third, establish a mature exit mechanism; Fourth, diversify the sources of funds.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230442

    The Impact of Status Quo Bias on People’s Choices

    In behavioral economics, status quo bias is a cognitive bias that refers to when people are faced with the choice of maintaining the status quo versus making changes. People tend to maintain the current state rather than take actions to change it. The existence of status quo bias challenges the traditional economic hypothesis that people are rational. In this essay, we show the impact of status quo bias on people’s decision-making, and its possible impacts through three experiments, namely, beverage manufacturers’ new products, elections, and food preferences. Our analysis proves that managers need to fully consider people’s preferences for the status quo when launching new products, and then appropriately reduce their estimates of expected profits to ensure the accuracy of forecasts.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230443

    Analysis of the Current Situation of Starbucks' Operation in Chinese Market

    With the gradual expansion of the Chinese coffee market, Starbucks has continued to increase its investment in the Chinese market, which has made China the largest overseas market for Starbucks in the world. With its unique corporate culture, Starbucks has maintained good relationships with its customers while ensuring the quality of the products, and there is much to learn from its success of Starbucks. This paper uses SWOT theory, comparative analysis, and strategic research to analyze the current situation of Starbucks in the Chinese market. The primary data for this paper is obtained from the Starbucks website and other journal papers. This paper will examine the current brand positioning and operations of Starbucks in-depth and provide analysis and recommendations. As Starbucks is proliferating in the Chinese market, certain previous studies may have issues such as untimely information, and there is still a need to update relevant information for this type of business to meet the accuracy of the information.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230444

    Analysis of Factors Influencing the Development of China's Insurance Industry

    The insurance industry is closely linked to individual interests and the overall economy of the country. Nowadays, in the context of Covid-9, the stable development of the insurance industry is particularly important. However, much of the literature focuses on the role of the insurance industry in economic development, but there are few studies that focus on the industry in general and analyze the impact factors of the insurance industry itself from multiple perspectives. To fill the academic gap in the overview of the insurance industry and better promote its future development, this paper explores the role of seven factors such as economic growth, inflation, disposable income of the population, and the scale of social security on the development of the insurance industry from three aspects: macro, micro, and China-specific social background conditions. Through a comprehensive analysis of relevant domestic and international literature in recent years, this paper concludes that: economic growth, higher individual disposable income and better legal system and regulation have a positive effect on the development of the insurance industry; inflation inhibits the insurance industry development. The effects of demographics, social security size and residents' education level on China’s insurance industry are somewhat complicated.

  • Open Access | Article 2023-09-13 Doi: 10.54254/2754-1169/10/20230445

    Research on the Impact of COVID-19 on Futures Market

    This paper focuses on the specific impacts of COVID-19 on the performance and trading conditions of various global futures markets. The major impact of COVID-19 on the economy includes the raised concern of market stress, city lockdowns and travel restrictions. These factors can negatively affect the performance of future markets in different ways and to different degrees. This paper will explore the topics of the interconnectedness of several commodity futures’ performances, the volatility and return of major commodity futures, the relationship between various contemporary financial indicators and the performance of crude oil future, as well as the general performance of innovative future types. The study has found that the interconnected linkages between several commodity futures appeared under COVID pandemics. Furthermore, the study shows that COVID-19 has a considerable influence on both the short-term and long-term volatilities of industry-related and consumer staple-related futures to different degrees. Lastly, the coronavirus crisis has an overwhelmingly negative impact on the prices of innovative forms of the future, including the carbon future and Bitcoin future.

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