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FINTECH SERVICES AND FACTORS DETERMINING THE EXPECTED BENEFITS OF USERS: EVIDENCE IN ROMANIA FOR MILLENNIALS AND GENERATION Z

Octavian Dospinescu, Nicoleta Dospinescu, Daniela-Tatiana Agheorghiesei

The purpose of this article is to identify the factors that have a decisive influence on the level of satisfaction of users of FinTech services in Romania. To explain the variables that have an effect, we conducted this study both in the entire population of FinTech users, as well as differentiated into two distinct generations: Millennials and Generation Z. From the point of view of age ranges, consumers in the Millennials category are also known in the specialty literature (Aichner & Shaltoni, 2019) as Generation Y, that are people born between the 1980s and the mid-1990s. According to Bucovetchi et al. (2019), Generation Z is the demographic cohort following Millennials and is made up of those born between the second half of the 1990s and early 2000s. These two generations have different behaviors, priorities and preferences when it comes to the use of information technologies.
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THE USEFULNESS OF MARKETING STRATEGIES IN A REGULATED MARKET: EVIDENCE FROM THE SPANISH TOBACCO MARKET

Alejandro Almeida, Aida Galiano, Antonio A. Golpe, Juan Manuel Martín Álvarez

In the current economy, there are some heavily regulated markets, such as the tobacco market, and others on the point of being regulated – markets using fossil combustibles, such as the combustion engine vehicles, as well as the gambling sector. Those markets operate with products or services in some way prejudicial to health and the environment. This fact justifies before the citizens the governmental intervention. Companies operating on those markets have very limited their marketing strategies to promote sells (Henriksen, 2012). In this article, we aim to investigate the options faced by companies for the implementation of marketing strategies that will permit them to scale their sales leadership position once the market is regulated. In the case of the tobacco market, the motivation to regulate emerges due to the causal link between tobacco consumption and several types of cancer, cardiovascular and respiratory diseases, reproductive disorders, Alzheimer’s disease (López-Arrieta & Sanz, 2001), and many other negative health consequences. In addition, it has an addictive nature (DHSS, 2004).
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PERCEPTIONS OF PERSONALIZATION IN COMPANY-CONSUMER INTERACTIONS ON SOCIAL NETWORK: EXPERIMENT CONDUCTED IN THE CZECH REPUBLIC

Ludvík Eger, Lenka Komárková, Veronika Zákružná

Social media (SM) has become one of the largest environments of human interaction. Growth in social network use is evident in developed countries, and to an even greater extent in developing countries (Internet World Stats, 2020). In 2019, 53% of EU enterprises used at least one type of SM and 86% of these used SM to build their image and market their products. Additionally, more than 54% of the people (16–74 years old) living in the EU used the Internet for participating in social networks (Eurostat, 2020a, b). DESI (2020) found that over 65% of all EU citizens use at least one form of SM, the most popular being Facebook and Instagram, especially among young people. Consequently, as the use of SM becomes increasingly common, companies seek to reach and interact with current and potential customers through SM platforms (Shanahan et al., 2019; Wang & Kim, 2017).
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CONSUMER BEHAVIOUR CHANGES DURING TIMES OF THE COVID-19 PANDEMIC: AN EMPIRICAL STUDY ON SLOVAK CONSUMERS

Lenka Veselovská, Ján Závadský, Lucia Bartková

Humankind finds itself facing unparalleled circumstances since the worldwide outbreak of COVID-19 created significant changes in societies worldwide. Societies were surprised at the rapid spread of the virus and the ensuing global crisis. Due to the worldwide effects of the crises many authors compare it to natural disasters (Anderson et al., 2020; Sarkis et al., 2020; De Vito & Gómez, 2020; Haghani et al., 2020; Haroon & Rizvi, 2020). The scope of COVID-19 crisis caused significant disruptions in economic, social and health systems, thus creating a challenge for societies. For entrepreneurs, this crisis brought both problems and opportunities. These conditions laid bare their vulnerabilities and critical points. Consumers were forced to adapt their needs and shopping habits to extreme conditions influenced by both implemented and enforced government measures to stop the spread of the virus.
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TARGETING OF ONLINE ADVERTISING USING LOGISTIC REGRESSION

Erik Šoltés, Janka Táborecká-Petrovičová, Romana Šipoldová

In the era of big data and digital technologies, marketing and especially digital marketing are rapidly developing. This development is significantly supported by utilisation of various quantitative methods allowing for a lot of useful information from different marketing fields. Digital marketing brings access to mass market for a reasonable price and unlike advertisement in traditional media (TV commercials, print), it enables personalized marketing. Digital marketing applies digital channels, devices and platforms to develop or implement a marketing strategy. One subset of digital marketing is online marketing usually defined as internet marketing. Expansion of internet marketing is considerable and evident by the increase of expenditures into internet advertisement. In the year 2018, 68% of Slovaks and 75% of Czechs had daily access to internet, whereas in 2012 it was 60% and 44%, respectively.
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FACE-TO-FACE AND ELECTRONIC COMMUNICATION WITH CUSTOMERS IN RETAILING AND COMPANY PERFORMANCE: A CASE STUDY IN THE ELECTRONICS AND COMMUNICATION EQUIPMENT RETAIL INDUSTRY IN THE CZECH REPUBLIC

Ludvík Eger, Petr Suchánek

Customers today can find the same assortments in a number of retail stores and through the Internet, thus effective store management has become a critical basis for developing strategic advantages. The aim of this research is to identify whether customer satisfaction measured by means of mystery shopping and the results of communication with the public on a company’s Facebook profile assessed by quantitative analysis influence the performance of the selected companies. The evaluation of customer satisfaction and loyalty follows the older pilot study and is newly supplemented by an analysis of communication with customers using social media such as Facebook. The company’s performance is evaluated through the financial ratios (ROA, ROE and ATO) based on accounting data available in the Magnusweb database. The research is focused on selected companies from the electronics and communication equipment retail industry in the Czech Republic and is unique from that point of view because it analyses communication with customers not only in retail shops but concurrently on their profiles for Facebook. The findings show how it is possible to assess the level of customer-oriented communication in retail shops and also the level of communication with customers on the social network. Retailers are increasing their focus on customers’ experience in their shops and on social media sites. The research contributes to a better understanding of marketing in retail and on social media in the selected industry.
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PRACTICAL APPLICATION OF FORMS AND TOOLS OF MARKETING COMMUNICATION IN THE SME SECTOR

Małgorzata Adamska

How can you imagine the future of marketing communication? The last several decades have brought the unexpected development of marketing concepts and tools (Keller, 2009), conditioned by changes in the economic environment: globalization processes, internationalization of enterprises, increase in competitiveness, social change, development of information technology, popularization of proinnovation culture and, finally, “acceleration” of processes. Against the background of these market conditions, presentation and analysis of currently used communication forms and tools in the sector of small and medium enterprises, in terms of types and forms of messages, seems to be a very interesting topic and will enable diagnosing existing status and drawing conclusions about future organizational behaviour in this area. The need for conducting this kind of research results from constant changes in the architecture of marketing communication. The aim of the study was to learn the approach of small and medium entrepreneurs to customer value management processes through the prism of: quantity, intensity, quality of communication forms and tools. The research problem is the answer to the question: what forms and tools of marketing communication find practical application in the SME sector?
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LEARNING FROM THE SALES CONVERSION RATE THROUGHOUT ITS PRODUCT LIFE CYCLE ANALYSIS: A CASE OF STUDY FOR THE SPANISH AUTOMOTIVE SECTOR

Manuela Saco, Aida Galiano, Vicente Rodríguez

The conversion rate in sales is a fundamental parameter to assess the performance of the Marketing and sales departments. Fisher (2013) claims that when customers visit a store, retailers try to convert traffic by making sure there is the right product, in the right place, at the right time, and with the right price. At that moment, the conversion rate is a crucial value to measure the effectiveness of the Marketing policies and commercial teams in relation to consumer behaviour. The conversion rate (CR) measures the ratio between the total number of visitors entering an establishment and those who make a purchase (on a daily, monthly, quarterly and annual basis). The conversion rate can also be useful to analyse the evolution of the commercial efficiency in a business or to compare similar establishments in which the conversion rates are significantly different. Somehow, the efficiency depends on the adequate commercial performance of the sales team, trying to attract the largest number of potential buyers visiting the establishment (Rodríguez, Olarte-Pascual, & Saco, 2017). Therefore, the conversion rate grows with an excellent customer service and better execution of the store processes.
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COMPARISON OF GROCERY SHOPPING BEHAVIOUR OF SLOVAK RESIDENTS ON THE SLOVAK-AUSTRIAN BORDER: AN EMPIRICAL STUDY – HAINBURG AN DER DONAU

Pavol Kita, František Križan, Kristína Bilková, Milan Zeman, Tomáš Siviček

A myriad of factors influences every area of human activity. Recognition of these factors enables a responsible approach in environmental organization, modification and subsequent adaptation. This is also true for a consumer which feels a lack of the availability of specific merchandise. If this need is not satisfied, the consumer does one of two things, either he searches for a product which can satisfy the need or tries to suppress the need (Kita, 2016). In this respect, cross-border shopping offers new sources of opportunities to satisfy needs, find more suitable financial conditions or change expectations about a product. This means that these consumers may have a tendency to spend more in search for the highest quality among local or branded products. In the context of travelling abroad, Choi et al. (2016) claim that shopping has become a determining factor affecting destination choice. Travelling to shop abroad represents a specific aspect of shopping (Bygvrå, 2019; Spierings & van der Velde, 2008; Timothy & Butler, 1995; Powęska, 2008) when other regions attract new consumers (Balogh & Pete, 2018; Doong, Wang, & Law, 2012).
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DETERMINANTS OF THE SELECTION OF TRAVEL AGENCIES ON POLISH TOURIST SERVICES MARKET

Anna Mazurek-Kusiak

The tourist services market is a very variable and difficult to predict market (Chen & Kang, 2015) that reacts quickly to factors and turmoil occurring in the international, national and local environment. Impact of these factors is evident both on the supply and on the demand side (Zdon-Korzeniowska & Rachwał, 2011). Studies by Millana and Esteban (2004), Silva and Gonçalves (2016) and Chih-Wen (2016) showed that customers are not loyal to their travel agencies. Changing the organizer of tourist services is not a problem for tourists, nor does it raise any resistance such as may occur, for example, when changing the telephone operator, bank or energy supplier. Thus, it is more difficult for travel agencies to acquire regular customers than for other service companies. In addition, they must adapt the offer more precisely to the needs of customers to convince them to purchase the services offered (Rudawska, 2010), therefore it is so important to know the main goals of tourist trips, customers’ needs and determinants, that guide the selection of the organizer of a tourism. In order to gain their trust, they must choose appropriate communication channels to establish a dialogue with the customer, promote their own brand and the tourist products they sell.
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