%0 Journal Article
%T Convergence analysis of household expenditures using the absolute ¦Â-convergence method
%A Anto Domazet
%A Rusmir Sendi
%A Adi Ali
%J Business Systems Research
%@ 1847-9375
%D 2012
%I 
%R 10.2478/v10305-012-0003-3
%X Background: The paper examines the convergence of household expenditures, in terms of a possible usage of the standardized, rather than consumer-tailored marketing, mainly on a regional level. Objectives: The main goal of this research is to study the existence of consumption expenditure convergence in the EU-27 countries, in the period between 2000 and 2007. Methods/Approach: The analysis used the absolute ¦Â-convergence method, in order to investigate the existence of a negative correlation between the growth over time in the overall consumption expenditure in EU member-countries for each individual product and service category and the initial expenditure level. Results: According to the obtained results, in the period between 2000 and 2007, the EU-27 countries reached a high level of consumer expenditure convergence, which provides a basis for developing a regional concept of the standardized international marketing for these countries' markets. Conclusions: The results provide an empirical contribution to claims on consumer convergence in the countries included into economic integrations. Also, the obtained results can be used to create a basis for defining and applying the regional marketing concept for companies focusing on the EU-27 countries' market.
%K Globalization
%K Convergence
%K Household consumption expenditure
%K European Union
%K International marketing
%U http://versita.metapress.com/content/0884213685178867/?p=d628b22991d247a19b465b6c08a9e9b6&pi=2