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The existing correlation between the CPI of OTC drugs and other goods and services

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dc.title The existing correlation between the CPI of OTC drugs and other goods and services en
dc.contributor.author Loubalová, Eva
dc.relation.ispartof 14th Annual International Bata Conference for Ph.D. Students and Young Researchers (DOKBAT)
dc.identifier.isbn 978-80-7454-730-0
dc.date.issued 2018
dc.citation.spage 167
dc.citation.epage 176
dc.event.title 14th Annual International Bata Conference for Ph.D. Students and Young Researchers (DOKBAT)
dc.event.location Zlín
utb.event.state-en Czech Republic
utb.event.state-cs Česká republika
dc.event.sdate 2018-04-25
dc.event.edate 2018-04-25
dc.type conferenceObject
dc.language.iso en
dc.publisher Tomas Bata University in Zlín
dc.identifier.doi 10.7441/dokbat.2018.15
dc.relation.uri http://dokbat.utb.cz/wp-content/uploads/DOKBAT2018.pdf
dc.subject over-the-counter (OTC) drugs en
dc.subject consumer price index (CPI) en
dc.subject private label brands en
dc.subject linear correlation en
dc.subject economics en
dc.subject health expenditure en
dc.description.abstract This paper examines the link between the consumer price index (CPI) of over-the-counter (OTC) drugs and other goods and services in the Czech Republic. Private label OTC drugs have been sold on the Czech market since 2013. Taking their brief historic overview into consideration, their advantage is a lower price compared to OTC brand drugs. A lower price should produce a greater benefit over time in the period of an increasing CPI, especially the CPI of categories with the highest weight. To discover if there is a relation between the OTC drug category and some of the highest weight categories, a linear correlation analysis among CPI variables was used. Although the results indicate that the CPI of OTC drugs correlates with the CPI of some of the categories with the highest weight, it is not a general rule applicable to all categories. The inverse relation appears in the categories of communication, transport, prescription drugs, food and non-alcoholic beverages and furnishings, household equipment and routine maintenance of the house. According to these results, consumers tend to pay less for the OTC drugs in the periods of time when they pay more for the categories mentioned above. Contrarily, a correlation with miscellaneous goods and services, alcoholic beverages and tobacco, restaurants and hotels, education, clothing and footwear and recreation and culture exists. After linking these results with the weight of individual categories, the results confirmed that the inverse relationship shows up in the category of food and non-alcoholic beverages and transport category and vice versa mainly in the category of alcoholic beverages and tobacco. However, considering the success of the private label products in other categories private label drugs have potential on the Czech market regardless if there is an increase in CPI or not. en
utb.faculty Faculty of Management and Economics
dc.identifier.uri http://hdl.handle.net/10563/1008784
utb.identifier.rivid RIV/70883521:28120/18:63521276!RIV19-MSM-28120___
utb.identifier.obdid 43879564
utb.identifier.wok 000466529800015
utb.source d-wok
dc.date.accessioned 2019-08-13T10:17:20Z
dc.date.available 2019-08-13T10:17:20Z
dc.description.sponsorship Internal Grant Agency of FaME
utb.contributor.internalauthor Loubalová, Eva
utb.fulltext.affiliation Eva Loubalová Tomas Bata University in Zlin, Faculty of Management and Economics Mostni 5139, 760 01 Zlin University: +420 576 032 120 Eva Loubalova: +420 737 864 879 Eva.loubalova@seznam.cz ORCID: 0000-0003-3997-338X
utb.fulltext.dates -
utb.fulltext.sponsorship The author would like to thank the Internal Grant Agency of FaME for providingfinancial support to carry out this research. Funding was extended through: TBU No.IGA/FaME/2018/002 - Using of Marketing 4.0 principles for customer relationship management in the Czech Republic.
utb.wos.affiliation [Loubalova, Eva] Tomas Bata Univ Zlin, Fac Management & Econ, Mostni 5139, Zlin 76001, Czech Republic
utb.fulltext.projects IGA/FaME/2018/002
utb.fulltext.faculty Faculty of Management and Economics
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