Equation 5 can be evaluated at different face values to investigate the sensitivity of the profitability to the coupon face value.
Similarly, the total market-level sales at different face values can be found by substituting the appropriate face values in Equation 4.
TABLE 5 Profit/Sales at Different Coupon Face Values for Brand B in Market 1 Coupon Value Total Profit Total Sales (Cents) (Dollars) (Units) 0 204.
0] to zero, as typically even for coupons with relatively higher face values, the fraction of sales made with coupons tends to be much smaller than one.
1995) reports that about 327 billion coupons were issued in 1994 and that the average face value of coupons issued by manufacturers increased by 7% in that year.
This finding suggests that (1) face value rather than frequency of coupon use or mere use of a cents-off coupon is a critical variable that influences repeat purchase rates, and (2) current levels of cents-off coupon face values are insufficient to positively influence repeat purchases.
In order to establish adequate levels of face value, the author recommends conducting consumer research first rather than establishing face values based upon other methods such as setting face values according to those of competitors.
If coupon users experience significant enhancement of pride (of being smart, of "beating the system") through the mere use of a cents-off coupon, regardless of the face value or habits for using coupons, a positive influence of the coupon-use variable on market responses is likely to occur.
Overall, the following hypothesis is established in order to show that shoppers' purchases (market responses) are influenced the most by the amount of face value, followed by the frequency of coupon use, and the mere use (or not) of a cents-off coupon.
The negative signs of the coupon face value and frequency of coupon use coefficients indicate that coupon users do not perceive that they are gaining something, given the amount of the face value and as the frequency of coupon use increases.
It aimed at making the face value of gold money equivalent to its worth as raw material in order to prevent further increases in exports.
Rather, the king's concern that face value was the same as the intrinsic worth of the coin served a quite different principle.
The king maintained the inherent authority of the sign by ensuring that the face value of gold coins was equal to their intrinsic worth.
The differential constructions of value created by international money systems had not only driven a wedge between face value and "true" worth, rupturing the identity of the sign, but also placed in jeopardy the solid form of sovereign coins, now prey to allegedly proliferating illicit practices of clipping, sweating, melting down, and re-rendering into multifarious artifacts for ungovernable international exchange.