An Adaptive Parameter-Free Optimal Number of Market Segments Estimation Algorithm Based on a New Internal Validity Index

An appropriate optimal number of market segments(ONS)estimation is essential for an enterprise to achieve successful market segmentation,but at present,there is a serious lack of attention to this issue in market segmentation.In our study,an independent adaptive ONS estimation method BWCON-NSDK-means++is proposed by integrating a newinternal validity index(IVI)Between-Within-Connectivity(BWCON)and a newstable clustering algorithmNatural-SDK-means++(NSDK-means++)in a novel way.First,to complete the evaluation dimensions of the existing IVIs,we designed a connectivity formula based on the neighbor relationship and proposed the BWCON by integrating the connectivity with other two commonly considered measures of compactness and separation.Then,considering the stability,number of parameters and clustering performance,we proposed the NSDK-means++to participate in the integrationwhere the natural neighbor was used to optimize the initial cluster centers(ICCs)determination strategy in the SDK-means++.At last,to ensure the objectivity of the estimatedONS,we designed a BWCON-based ONS estimation framework that does not require the user to set any parameters in advance and integrated the NSDK-means++into this framework forming a practical ONS estimation tool BWCON-NSDK-means++.The final experimental results showthat the proposed BWCONand NSDK-means++are significantlymore suitable than their respective existing models to participate in the integration for determining theONS,and the proposed BWCON-NSDK-means++is demonstrably superior to the BWCON-KMA,BWCONMBK,BWCON-KM++,BWCON-RKM++,BWCON-SDKM++,BWCON-Single linkage,BWCON-Complete linkage,BWCON-Average linkage and BWCON-Ward linkage in terms of the ONS estimation.Moreover,as an independentmarket segmentation tool,the BWCON-NSDK-means++also outperforms the existing models with respect to the inter-market differentiation and sub-market size.

TRANSFORM THE MECHANISM OF RENMINBI’S EXCHANGE RATE SYSTEM IN CONFORMITY WITH THE DEMAND OF MARKET ECONOMY——The academic report delivered at the Annual Meeting of NNCIFS on October 1993

Exchange rate functions under systems of centrallyplanned economy and market economy are quite different,and the mechanism to determine such exchange rate is alsodifferent. To adopt a socialist market economic system inChina, the exchange rate mechanism of Renminbi must bethoroughly transformed. To accomplish this goal, I believethere are three problems that must be solved: first,

A Question of Market Confidence

Having overcome the worst period of the financial crisis,the world economy is getting back on the growth path.Meanwhile, risks have risen sharply amid renewed financial turbulence around the world. The World Economic Outlook Update, released by the IMF on July 8, discussed this issue.Edited excerpts follow:

Research on Prediction of the Scale of OTC Drug Market in China Based on Quantitative Analysis

Objective To analyze the scale of domestic OTC drug market and its influencing factors,so as to predict its future market and provide a scientific basis for pharmaceutical enterprises to grasp the opportunities in the market.Methods The scale of OTC drug market from 1999 to 2018 in China and its influencing factors were analyzed by unit root test,Granger causality test and co-integration test.Results and Conclusion From the perspective of the global pharmaceutical market,OTC drug market has broad prospects and great development potential.Since the influence of GDP and the number of elderly populations on the scale of OTC drug market is positive,the predicted growth rate of OTC market in the next three years is 5.82%,5.86%and 5.90%,respectively.

Strategies for Avoiding Loss of Market Share Due to Fierce Competition at Apps for The Future Inc.

The quickly growing development and fierce competition in technical industry make Apps for The Future Inc. (AFF) has risk of losing market share and their customers' trust. Therefore, after the examine of three solutions which used by Nokia, Motorola and China Unicom based on the selected criteria, the suitable solutions that the AFF managers should follow are creating new flagship product with low price, finding development direction and keep investing. Those solutions could allow companies to keep creating, keep motivating and care their customers, and allow this company to be successful and regain customer trust.

How to compare market efficiency? The Sharpe ratio based on the ARMA-GARCH forecast

This paper derives a new method for comparing the weak-form efficiency of markets.The author derives the formula of the Sharpe ratio from the ARMA-GARCH model and finds that the Sharpe ratio just depends on the coefficients of the AR and MA terms and is not affected by the GARCH process.For empirical purposes,the Sharpe ratio can be formulated with a monotonic increasing function of R-squared if the sample size is large enough.One can utilize the Sharpe ratio to compare weak-form efficiency among different markets.The results of stochastic simulation demonstrate the validity of the proposed method.The author also constructs empirical AR-GARCH models and computes the Sharpe ratio for S&P 500 Index and the SSE Composite Index.

A Discussion on the Development Status of Oral Care Products Industry in China

The general situation of production and sales of China’s oral cleaning care products industry in 2021 was briefly introduced.The market status and trend characteristics of the development of China’s oral cleaning care products industry was mainly discussed.The features and suggestions of China’s oral cleaning care products industry was summarized.