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The causal relationship between market share, advertising density and ratio of sales has been widely discussed in academic circles. This paper examined the extent of reaction and the reverse causal relationship between advertising, concentration, and performance. Secondary data on the enterprises’ operating income, total profits and advertising costs of the mid-range and high-end liquor enterprises, covering the period 2003-2011, were sourced from the financial statements. The simultaneous-equations model was employed to examine the mutual relationship of advertising, concentration and performance. The results of the simultaneous-equations model show that increased advertising density did not contribute to acquiring a higher market share for the mid-range and high-end liquor enterprises. We also found that a higher ratio of sales stimulated the enterprises to invest more in advertising costs; however, it did not promote the increase of market share.
This study uses new estimation methodology that is the simultaneous-equations model to examine the degree of interaction and reverse causality relationship between market share, advertising density and ratio of sales in liquor industry. It also explores the three variables’ operation mechanism, which is certainly innovative.
Evaluation of the Phytochemical, Antioxidant and Antimicrobialproperties of Extracts from Chrysophyllum Albidum (African Star Apple) Leaf
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Oguntoyinbo O.O , Abdus-Salaam R.B , Bello W.A , Ifesan B.O.T. (2015). Evaluation of the Phytochemical, Antioxidant and Antimicrobialproperties of Extracts from Chrysophyllum Albidum (African Star Apple) Leaf. Journal of Food Technology Research, 2(1): 1-10. DOI: 10.18488/journal.58/2015.2.1/184.108.40.206
Phytochemical, antioxidant and antimicrobial properties of n-butanol, petroleum ether and ethanol extracts of the leaf of Chrysophyllumalbidum were investigated. Antioxidant activity was carried out using various tests which include; 2, 2-diphenyl-picrylhydrazyl (DPPH) scavenging activity, total antioxidant activity, ferric reducing antioxidant power (FRAP), total flavonoid content and the total phenolic content. The antimicrobial test was conducted on the following micro-organisms; Salmonella dysenteriae, Bacillus cereus, Salmonella typhi, Acinetobacter spp., Escherichia coli, Klebsiellapneumoniae, Penicillum spp., Aspergillusflavus, Fusariumverticoides, Aspergillus tamari and Aspergillusparasiticus using the agar well diffusion method. Results revealed that petroleum ether gave the highest extract yield (16.8%) while butanolic extract had the least yield (4.6%). At 250 µg/ml extract concentration, petroleum ether extract demonstrated the highest (73.57%) DPPH scavenging activity followed by ethanol extract (59.32%) while butanolic extract had the least scavenging activity of 32.02%, and these were significantly different (P<0.05). Total antioxidant activity (ascorbic acid equivalent) of C. albidum ranged from 42.33AAE in butanol extract to 50.6AAE in ethanol extract. Furthermore, ferric reducing antioxidant power (FRAP) of the leaf extracts revealed that at 250 µg/ml extract concentration, ethanol extract had the highest (0.39µmolFe(ii)/g) reduction potential, followed by petroleum ether extract (0.33µmolFe(ii)/g) and butanol extract (0.29 µmolFe(ii)/g). The total phenol content of the extracts ranged from 0.02µg/mlTAE–0.09µg/mlTAE at 1000µg/ml extract concentration. The total flavonoid content ranged from 0.47mg/gQE in petroleum ether extract to 12.74mg/gQE in butanol extract . The antimicrobial activities of the extracts of the leaf of C. albidum showed zone of inhibition ranging from 9.7mm to 31.0mm. The result showed that butanolic extract demonstrated a broad spectrum antimicrobial activity by inhibiting all the microorganisms tested while petroleum ether extract possessed no antimicrobial property. This result may be an indication that C. albidumleaf extracts could be used as an easily accessible source of natural antioxidant and antimicrobial agent.
This study documents the phytochemical, antioxidant properties and antimicrobial potential of the extracts of the leaves of Chrysophyllum albidum using different organic solvents (Petroleum ether, ethanol and butanol). This comparative evaluation in a single research work is scarce and was therefore investigated in this paper.