THE EXISTING CORRELATION BETWEEN THE CPI OF OTC DRUGS AND OTHER GOODS AND SERVICES
The result's identifiers
Result code in IS VaVaI
<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F70883521%3A28120%2F18%3A63521276" target="_blank" >RIV/70883521:28120/18:63521276 - isvavai.cz</a>
Result on the web
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DOI - Digital Object Identifier
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Alternative languages
Result language
angličtina
Original language name
THE EXISTING CORRELATION BETWEEN THE CPI OF OTC DRUGS AND OTHER GOODS AND SERVICES
Original language description
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
Czech name
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Czech description
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Classification
Type
D - Article in proceedings
CEP classification
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OECD FORD branch
50204 - Business and management
Result continuities
Project
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Continuities
S - Specificky vyzkum na vysokych skolach
Others
Publication year
2018
Confidentiality
S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů
Data specific for result type
Article name in the collection
14th Annual International Bata Conference for Ph.D. Students and Young Researchers
ISBN
978-80-7454-730-0
ISSN
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e-ISSN
neuvedeno
Number of pages
10
Pages from-to
167-176
Publisher name
Fakulta managementu a ekonomiky, UTB ve Zlíně
Place of publication
Zlín
Event location
Zlín
Event date
Apr 25, 2018
Type of event by nationality
EUR - Evropská akce
UT code for WoS article
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