Search results for: Georgian consumers

Authors: Zainab Atia, Hongwei He, Panagiotis Sarantopoulos

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Over the past few years, firms have witnessed a massive increase in sophisticated algorithmic deployment, which has become quite pervasive in today’s modern society. With the wide availability of data for retailers, the ability to track consumers using algorithmic pricing has become an integral option in online platforms. As more companies are transforming their businesses and relying more on massive technological advancement, pricing algorithmic systems have brought attention and given rise to its wide adoption, with many accompanying benefits and challenges to be found within its usage. With the overall aim of increasing profits by organizations, algorithmic pricing is becoming a sound option by enabling suppliers to cut costs, allowing better services, improving efficiency and product availability, and enhancing overall consumer experiences. The adoption of algorithms in retail has been pioneered and widely used in literature across varied fields, including marketing, computer science, engineering, economics, and public policy. However, what is more, alarming today is the comprehensive understanding and focus of this technology and its associated ethical influence on consumers’ perceptions and behaviours. Indeed, due to algorithmic ethical concerns, consumers are found to be reluctant in some instances to share their personal data with retailers, which reduces their retention and leads to negative consumer outcomes in some instances. This, in its turn, raises the question of whether firms can still manifest the acceptance of such technologies by consumers while minimizing the ethical transgressions accompanied by their deployment. As recent modest research within the area of marketing and consumer behavior, the current research advances the literature on algorithmic pricing, pricing ethics, consumers’ perceptions, and price fairness literature. With its empirical focus, this paper aims to contribute to the literature by applying the distinction of the two common types of algorithmic pricing, dynamic and personalized, while measuring their relative effect on consumers’ behavioural outcomes. From a managerial perspective, this research offers significant implications that pertain to providing a better human-machine interactive environment (whether online or offline) to improve both businesses’ overall performance and consumers’ wellbeing. Therefore, by allowing more transparent pricing systems, businesses can harness their generated ethical strategies, which fosters consumers’ loyalty and extend their post-purchase behaviour. Thus, by defining the correct balance of pricing and right measures, whether using dynamic or personalized (or both), managers can hence approach consumers more ethically while taking their expectations and responses at a critical stance.

Keywords: algorithmic pricing, dynamic pricing, personalized pricing, price ethicality

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Authors: Dhruv Saini, Megha Sharma, Sharad Gupta

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This research is showing the use of celebrity endorsement and social media influencers and how they help in enhancing the brand loyalty of the consumers. The study aims at keeping brand image of the brand as the link between the two. However, choosing the right celebrity or social media influencer is not an easy task and it is very essential for a brand to select the right ambassador for advertising their products and for selling the product to the ultimate consumer. The purpose of the study is to create a relationship of Celebrity endorsement with brand image and with brand loyalty and creating a relationship of Social media influencers with brand image and with brand loyalty and then making a comparison between the two by measuring the effects of both simultaneously. And then by analyzing which among the two has a greater impact on brand loyalty of the consumers. The study mainly focuses on four major variables namely Celebrity endorsement, Social media influencers, Brand image and Brand loyalty. The study also focuses on interdependence and relationships that these variables have with each other and how they are linked with each other. The study also aims at looking which among Celebrity endorsement and Social media influencer has a greater impact on increasing or enhancing the loyalty for a brand. Earlier celebrity endorsers had a major impact on brand loyalty of the consumers but with time social media influencers are also playing a very vital role in impacting the brand loyalty of the consumers and are giving a fight to the celebrity endorsers as well. Also, Brand image also has a very vital role to play in enhancing the brand loyalty of a brand in the minds of the consumers as a well-known and a better perception of a brand leads to retention of more and more consumers. Also, both Celebrity endorsement and Social media influencers are two-way swords as both have a number of positives and a number of negatives as well, so these are to be compared keeping in mind their adverse effects. Examination of the current market situation has shown that the recommendations of celebrities when properly integrated by comparing product strengths. Advertisers agree that celebrity authorization does not guarantee sales but it can create buzz and make the consumer feel better by-product, which is also what customers should expect as a real star by delivering the promise. On the other hand, depending on the results of the studies, there should be a variety of conclusions planned. Some of the influential people on social media had a positive impact on the product portrait. One of the conclusions is that the product image had a positive impact on consumers. Moreover, the results of the following study states that the most influential influencers consumers in their intended purpose of the purchase, but instead produced a positive result indirectly with Brand image which would further lead to brand loyalty .

Keywords: brand image, brand loyalty, celebrity endorsement, social media influencer

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Authors: Kawpong Polyorat

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Since the outbreak of mad cow disease and bird flu, consumers have become more concerned with meat quality and safety. As a result, meat traceability is adopted as one approach to handle consumers’ concern in this issue. Nevertheless, in Thailand, meat traceability is rarely used as a marketing tool to persuade consumers. As a consequence, the present study attempts to understand consumer trust in the meat traceability system by conducting a study in this country to examine the impact of three types of consumer knowledge on this trust. The study results reveal that out of three types of consumer knowledge, marketplace knowledge was the sole predictor of consumer trust in meat traceability and it has a positive influence. General product class knowledge and knowledge in meat products with traceability, however, did not significantly influence consumer trust. The research results provide several implications and directions for future study.

Keywords: consumer knowledge, marketing, product knowledge, traceability

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Authors: Rohollah Asadian Kohestani, Nazanin Sedghi

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As the number of banks and financial institutions working in Iran has been significantly increased, the attracting and retaining customers and encouraging them to continually use the modern banking services have been important and vital issues. Therefore, there would be a serious competition without a deep perception of consumers and fitness of banking services with their needs in the current economic conditions of Iran. It should be noted that concepts such as 'brand equity' is defined based on the view of consumers; however, it is also focused by shareholders, competitors and other beneficiaries of a firm in addition to bank and its consumers. This study examines the impact of brand equity on the competitive advantage in the banking industry as intensive competition between brands of different banks leads to pay more attention to the brands. This research is based on the Aaker’s model examining the impact of four dimensions of brand equity on the competitive advantage of private banks in Behshahr city. Moreover, conducting an applied research and data analysis has been carried out by a descriptive method. Data collection was done using literature review and questionnaire. A 'simple random' methodology was selected for sampling staff of banks while sampling methodology to select consumers of banks was the distribution of questionnaire between staff and consumers of five private banks including Tejarat, Mellat, Refah K., Ghavamin and, Tose’e Ta’avon banks. Results show that there is a significant relationship between brand equity and their competitive advantage. In this research, software of SPSS 16 and LISREL 8.5, as well as different methods of descriptive inferential statistics for analyzing data and test hypotheses, were employed.

Keywords: brand awareness, brand loyalty, brand equity, competitive advantage

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Authors: Elaine Wong Yee-Sing, Liaw Wee Tong

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Rapid transformations in demographic and socioeconomic shifts are leading to a growing global demand for health and beauty products and services that demands holistic concepts of well-being. In addition, technological breakthroughs such as internet of things make it convenient and offer innovative solutions for well-being and engage consumers to track their own health conditions and fitness goals. This 'new health economy' encompasses three key concepts: well-being, well-conditioned and well-shaped; which are shaped by wellness segments and goals that influence purchasing decisions of consumers. The research protocol aims to examine the feasibility, challenges, and capabilities in provision for each customer with an ecosystem, or platform, that organizes data and insights to create an individual health and fitness, nutrition, and beauty profile. Convenience sampling of 100 consumers residing in private housing within five major districts in Singapore will be selected to participate in the study. Statistical Package for Social Science 25 will be used to conduct descriptive statistics for quantitative data while qualitative data results using focus interviews, will be translated and transcribed to identify improvements in provision of these services. Rising income in emerging global markets is fuelling the demand for these general wellbeing products and services. Combined with technological advances, it is imperative to understand how these highly personalized services with integrated technology can be designed better to support consumer preferences; provide greater flexibility and high-quality service, and generate better health awareness among consumers.

Keywords: beauty, consumers, health, technology, wellness

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Authors: Artur Saraiva, Moritz von Schwedler, Emília Fernandes

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In recent years, the organic sector has increased significantly. However, with the ‘conventionalization’ of these products, it has been questioned whether these products have been losing their original vision. Accordingly, this research based on 31 phenomenological interviews with committed organic consumers in urban and rural areas of Portugal, aims to analyse how ethical motivations and ecological awareness are related to organic food consumption. The content thematic analysis highlights aspects related to society and environmental concerns. On an individual level, the importance of internal coherence, peace of mind and balance that these consumers find in the consumption of local organic products was stressed. For these consumers, local organic products consumption made for significant changes in their lives, aiding in the establishment of a green identity, and involves a certain philosophy of life. This vision of an organic lifestyle is grounded in a political and ecological perspective, beyond the usual organic definition, as a ‘post-organic era’. The paper contributes to better understand how an ideological environmental discourse allows highlighting the relationship between consumers’ environmental concerns and the politics of food, resulting in a possible transition to new sustainable consumption practices.

Keywords: organic consumption, localism, content thematic analysis, pro-environmental discourse, political consumption, Portugal

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Authors: Arianne Van Der Wal, Femke Van Horen, Amir Grinstein

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Consumers in today’s world are confronted with the alarming consequences of unsustainable behavior such as pollution and resource degradation. In addition, they are facing an increase in uncertainty due to, for instance, economic instability and terror attacks. Although these two problems are central to consumers’ lives, occur on a global scale, and have significant impact on the world’s political, economic, environmental, and social landscapes, they have not been systematically studied in tandem before. Contributing to research on persuasion and pro-social behavior, this paper shows in five studies (three experimental studies and one field study) that the two problems are intertwined. We demonstrate that uncertainty leads to lower sustainable behavior in comparison to certainty (Studies 1 and 2) and that this is due to consumers displaying higher levels of temporal discounting (i.e., adopting a more immediate orientation; Study 2). Finally, providing valuable implications for policy makers and responsible marketers, we show that emphasizing the immediate benefits of sustainable behavior during uncertainty buffers the negative effect (Studies 3 and 4).

Keywords: sustainable behavior, uncertainty, temporal discounting, framing

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Authors: Samiullah Paracha, Sania Jehanzeb, M. H. Gharanai, A. R. Ahmadi, H.Sokout, Toshiro Takahara

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The purpose of this study is to examine how health consumers utilize pictures when developing an understanding of multimedia health documents, and whether attentional processes, measured by eye-tracking, relate to differences in health-related cognitive resources and passage comprehension. To investigate these issues, we will present health-related text-picture passages to elders and collect eye movement data to measure readers’ looking behaviors.

Keywords: multimedia, eye-tracking, consumer health informatics, human-computer interaction

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Authors: Abdulrahman Aloufi

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E-commerce has evolved to become a functional and mainstream tool of global trading, including in the Kingdom of Saudi Arabia. Consequently, online consumers need protection just as much as consumers in the offline world. In 2019, the Ministry of Commerce in Saudi Arabia established a so-called ‘e-commerce law’; however, this law does not cover the court enforcement of contracts entered into by international vendors, so it is not applicable in cross-border situations. The purpose of this paper is to identify the gaps present in this new e-commerce law in Saudi Arabia.

Keywords: consumer protection, e-commerce law, Saudi consumer, international vendor

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Authors: Yining Yu, Bingjie Li, Miaolei Jia, Lei Wang

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Ambient color temperature is one of the most ubiquitous factors in retailing. However, there is limited research regarding the effect of cold versus warm ambient color on consumers’ food consumption. This research investigates an unexplored lay belief named the “cold ambient color = healthy” intuition and its impact on food choice. We demonstrate that consumers have built the “cold ambient color = healthy” intuition, such that they infer that a restaurant with a cold-colored ambiance is more likely to sell healthy food than a warm-colored restaurant. This deep-seated intuition also guides consumers’ food choices. We find that using a cold (vs. warm) ambient color increases the choice of healthy food, which offers insights into healthy diet promotion for retailers and policymakers. Theoretically, our work contributes to the literature on color psychology, sensory marketing, and food consumption.

Keywords: ambient color temperature, cold ambient color, food choice, consumer wellbeing

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Authors: Ke He, Wumaier Parezhati, Haruka Yamashita

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Recently, online marketplaces in the e-commerce industry, such as Rakuten and Alibaba, have become some of the most popular online marketplaces in Asia. In these shopping websites, consumers can select purchase products from a large number of stores. Additionally, consumers of the e-commerce site have to register their name, age, gender, and other information in advance, to access their registered account. Therefore, establishing a method for analyzing consumer preferences from both the store and the product side is required. This study uses the Doc2Vec method, which has been studied in the field of natural language processing. Doc2Vec has been used in many cases to analyze the extraction of semantic relationships between documents (represented as consumers) and words (represented as products) in the field of document classification. This concept is applicable to represent the relationship between users and items; however, the problem is that one more factor (i.e., shops) needs to be considered in Doc2Vec. More precisely, a method for analyzing the relationship between consumers, stores, and products is required. The purpose of our study is to combine the analysis of the Doc2vec model for users and shops, and for users and items in the same feature space. This method enables the calculation of similar shops and items for each user. In this study, we derive the real data analysis accumulated in the online marketplace and demonstrate the efficiency of the proposal.

Keywords: Doc2Vec, online marketplace, marketing, recommendation systems

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Authors: Emine Yilmaz, Ismail Yilmaz, Harun Uran

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Food-borne problems have been placed among the most leading problems of the society especially in recent years. This state arises as a problem which affects the society wholly such as the supply of food stuffs that are necessary for an individual to perform his physiological and biological functions, their amount, compound, their effects on health and distribution by individuals. This study was conducted in order to determine the sensitivities and criteria of people, who have different socio-economic backgrounds and live in Süleymanpasa Town of Tekirdag City, in their preference of food stuffs. The research data were collected by means of Interview Technique with individuals within the scope of the study (300) and applying surveys with convenience sampling. According to the research results, quality appears in the first rank among the factors by which consumers are affected while buying food stuffs. Consumers stated that they try to be careful with not buying food sold outdoors. The most preferred food among the ones being sold outdoor were found to be breakfast food. Also, food stuff which consumers become the most selective for while buying was determined to be meat and meat products. Due to general knowledge about the food stuff consumed in human nutrition may affect their health negatively; consumers expressed that they are very relevant with their diets and this circumstances affects their purchase preferences.  

Keywords: consumption, food safety, consumer behaviour, purchase preferences

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Authors: Punit Gandhi, J. C. Brezet, Tim Gorter, Uchechi Obinna

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This paper introduces how weather forecasting could help in more efficient energy management for smart homes with the use of Home Energy Management Systems (HEMS). The paper also focuses on educating consumers and helping them make more informed decisions while using the HEMS. A combined approach of technical and user perspective has been selected to develop a novel HEMS-product-service combination in a more comprehensive manner. The current HEMS switches on/off the energy intensive appliances based on the fluctuating electricity tariffs, but with weather forecasting, it is possible to shift the time of use of energy intensive appliances to maximum electricity production from the renewable energy system installed in the house. Also, it is possible to estimate the heating/cooling load of the house for the day ahead demand. Hence, relevant insight is gained in the expected energy production and consumption load for the next day, facilitating better (more efficient, peak shaved, cheaper, etc.) energy management practices for smart homes. In literature, on the user perspective, it has been observed that consumers lose interest in using HEMS after three to four months. Therefore, to further help in better energy management practices, the new system had to be designed in a way that consumers would sustain their interaction with the system on a structural basis. It is hypothesized that, if consumers feel more comfortable with using such system, it would lead to a prolonged usage, including more energy savings and hence financial savings. To test the hypothesis, a survey for the HEMS is conducted, to which 59 valid responses were recorded. Analysis of the survey helped in designing a system which imparts better information about the energy production and consumption to the consumers. It is also found from the survey that, consumers like a variety of options and they do not like a constant reminder of what they should do. Hence, the final system is designed to encourage consumers to make an informed decision about their energy usage with a wide variety of behavioral options available. It is envisaged that the new system will be tested in several pioneering smart energy grid projects in both the Netherlands and India, with a continued ‘design thinking’ approach, combining the technical and user perspective, as the basis for further improvements.

Keywords: weather forecasting, smart grid, renewable energy forecasting, user defined HEMS

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Authors: María de los Ángeles Crespo López, Carmen García García

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The highly competitive nature of today's globalised marketplace requires that brands and stores develop effective commercial strategies to ensure their economic survival. Maintaining the loyalty of existing customers constitutes one key strategy that yields the best results. Although the relationship between consumers' self-congruity and their manifestations of loyalty towards a store has been investigated, the role of store personality in this relationship remains unclear. In this study, multiple parallel mediation analysis was used to examine the effect of Store Personality on the relationship between Self-Congruity of consumers and their Manifestations of Loyalty. For this purpose, 457 Spanish consumers of the Fnac store completed three self-report questionnaires assessing Store Personality, Self-Congruity, and Store Loyalty. The data were analyzed using the SPSS macro PROCESS. The results revealed that three dimensions of Store Personality, namely Exciting, Close and Competent Store, positively and significantly mediated the relationship between Self-Congruity and Manifestations of Loyalty. The indirect effect of Competent Store was the greatest. This means that a consumer with higher levels of Self-Congruity with the store will exhibit more Manifestations of Loyalty when the store is perceived as Exciting, Close or Competent. These findings suggest that more attention should be paid to the perceived personality of stores for the development of effective marketing strategies to maintain or increase consumers' manifestations of loyalty towards stores.

Keywords: multiple parallel mediation, PROCESS, self-congruence, store loyalty, store personality

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Authors: Lutfi AuliaRahman, Hari Rizki Ananda

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The traditional food is a typical food of a certain region that has a taste of its own unique and typically consumed by a society in certain areas, one of which is Gudeg, a regional specialties traditional food of Yogyakarta and Central Java which is made of young jackfruit cooked in coconut milk, edible with rice and served with thick coconut milk (areh), chicken, eggs, tofu and sambal goreng krecek. However, lately, the image of traditional food has declined among people, so with gudeg, which today's society, especially among young people, tend to prefer modern types of food such as fast food and some other foods that are popular. Moreover, traditional food usually only preferred by consumers of local communities and lack of demand by consumers from different areas for different tastes. Thus, the traditional food producers increasingly marginalized and their consumers are on the wane. This study aimed to evaluate the management used by producers of traditional food with a case study of Gudeg Sagan which located in the city of Yogyakarta, with the ability of their management in creating core competencies, which includes the competence of cost, competence of flexibility, competence of quality, competence of time, and value-based competence. And then, in addition to surviving and continuing to exist with the existing external environment, Gudeg Sagan can increase the number of consumers and also reach a broader segment of teenagers and adults as well as consumers from different areas. And finally, in this paper will be found positive impact on the creation of the core competencies of the existence and progress of the traditional food business based on case study of Gudeg Sagan.

Keywords: Gudeg Sagan, traditional food, core competencies, existence

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Authors: Abubakar Mukhtar Yakasai, Muhammad Tahir Jan

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Purpose: This paper is aimed at exploring factors influencing online shopping intention among the young consumers in Nigeria. Design/Methodology/approach: The paper adopted and extended Technology Acceptance Model (TAM) as the basis for literature review. Additionally, the paper proposed a framework with the inclusion of culture as a moderating factor of consumer online shopping intention among consumers in Nigeria. Findings: Despite high rate of internet penetration in Nigerian, as well as the rapid advancement of online shopping in the world, little attention was paid to this important revolution specifically among Nigeria’s consumers. Based on the review of extant literature, the TAM extended to include perceived risk and enjoyment (PR and PE) was discovered to be a better alternative framework for predicting Nigeria’s young consumers’ online shopping intention. The moderating effect of culture in the proposed model is shown to help immensely in ascertaining differences, if any, between various cultural groups among online shoppers in Nigeria. Originality/ value: The critical analysis of different factors will assist practitioners (like online retailers, e-marketing managers, website developers, etc.) by signifying which combinations of factors can best predict consumer online shopping behaviour in particular instances, thereby resulting in effective value delivery. Online shopping is a newly adopted technology in Nigeria, hence the paper will give a clear focus for effective e-marketing strategy. In addition, the proposed framework in this paper will guide future researchers by providing a tool for systematic evaluation and testing of real empirical situation of online shopping in Nigeria.

Keywords: online shopping, perceived ease of use, perceived usefulness, perceived enjoyment, technology acceptance model, Nigeria

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Authors: Mrinmoy Majumder, Apu Kumar Saha

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The ever-increasing human population and its demand for energy is placing stress upon conventional energy sources; and as demand for power continues to outstrip supply, the need to optimize energy distribution and utilization is emerging as an important focus for various stakeholders. The distribution of available energy must be achieved in such a way that the needs of the consumer are satisfied. However, if the availability of resources is not sufficient to satisfy consumer demand, it is necessary to find a method to select consumers based on factors such as their socio-economic or environmental impacts. Weighting consumer types in this way can help separate them based on their relative importance, and cognitive optimization of the allocation process can then be carried out so that, even on days of particularly scarce supply, the socio-economic impacts of not satisfying the needs of consumers can be minimized. In this context, the present study utilized fuzzy logic to assign weightage to different types of consumers based at an educational campus in India, and then established optimal allocation by applying the non-linear mapping capability of neuro-genetic algorithms. The outputs of the algorithms were compared with similar outputs from particle swarm optimization and differential evolution algorithms. The results of the study demonstrate an option for the optimal utilization of available energy based on the socio-economic importance of consumers.

Keywords: power allocation, optimization problem, neural networks, environmental and ecological engineering

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Authors: Kin Yan Ho

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Negative brand news (such as Volkswagen’s faulty carbon emission reports, China’s Luckin Coffee scandal, and bribery in reputable US universities) influence how people perceive a company. Germany’s citizens claimed Volkswagen’s scandal as a national embarrassment and cannot recover their psychological damages through monetary and non-monetary compensation. The main research question is to examine how consumers evaluate and respond to embarrassing brand publicity. The cognitive appraisal theory is used as a theoretical foundation. This study describes the use of scenario-based experiment. The findings suggest that consumers with different levels of embarrassment evaluate brand remedial offers from emotion-focused and task-focused restorative justice perspectives (newly derived from the well-established scales of perceived justice). When consumers face both negative and positive brand information (i.e., negative publicity news and a remedial offer), they change their appraisal criterion. The social situation in the cognitive reappraisal process influences the quality of the customer-brand relationship and the customer’s recovery from brand embarrassment. The results also depict that the components of recovery compensation cause differences in emotion recovery, relationship quality, and repurchase intentions. This study extends embarrassment literature in an embarrassing brand publicity context. The emotional components of brand remedial tactics provide insights to brand managers on how to handle different consumers’ emotions, consumer satisfaction, and foster positive future behavior.

Keywords: brand relationship quality, cognitive appraisal, crisis communications, emotion, justice, social presence

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Authors: Marine Kobalava

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Introduction. The paper substantiates the crucial role of anti-crisis PR in managing the image and reputation of companies. The critical situation caused by the Covid-19 virus in various countries of the world and the actions taken have had a significant negative impact on the image of companies and public groups. The mentioned circumstance has caused some problems for companies’ products in terms of customer demand. Accordingly, the main goal of PR has become to achieve the optimal relationship between companies and society with effective management. It should also be taken into account that the range of action of PR in crisis situations is much wider than that of advertising. In the paper, Public Relations is evaluated as a determining factor of the companies' prestige, its reliability, which has a decisive effect on the goodwill, trust, and general reputation of the public towards the company. The purpose of the study is to reveal the challenges of anti-crisis PR in Georgian companies and to develop recommendations on effective management mechanisms. Methodologies. Analysis, induction, synthesis, and other methods are used in the paper; Matrix and SWOT analysis are constructed. Ways of establishing and implementing an anti-crisis PR system in companies are proposed. The main aspects of anti-crisis management are identified by using the matrix of the choice of diversification strategy of the companies' activities, the possibilities of making adequate decisions using PR are studied according to the characteristics of the companies' activities and priority directions. Conclusion. The paper draws conclusions on modern problems of anti-crisis PR, offers recommendations on ways to solve it through PR strategies.

Keywords: anti-crisis PR, effective management, company, PR strategy

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Authors: Giorgi Sulashvili, Vladimer Kekenadze, Olga Khutsishvili, Bela Khotenashvili, Tsiuri Phkhakadze, Besarion Tsikhelashvili

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The article dealt with the South Caucasus is a complex economic policy, which consists of strands: The process of deepening economic integration in the South Caucasus region; deepening economic integration with the EU in the framework of "Neighbourhood policy with Europe" and in line with the Maastricht criteria; the development of bilateral trade and economic relations with many countries of the world community; the development of sufficient conditions for the integration of the South Caucasus region in the world to enter the market. According to the author, to determine the place of Georgia in the regional policy of the South Caucasus, it is necessary to consider two views about Georgia: The first is the view of Georgia, as a part of global economic and political processes and the second look at Georgia, as a country located in the geo-economic and geopolitical space of the South Caucasus. Such approaches reveal the place of Georgia in two dimensions; in the global and regional economies. In the countries of South Caucasus, the tourism has been developing fast and has a great social and economic importance. Tourism influences deeply on the social and economic growth of the regions of the country. Tourism development formulates thousand new jobs, fixes the positions of small and middle businesses, ensures the development of the education and culture of the population. In the countries of South Caucasus, the Tourist Industry can be specified as the intersectoral complex, which consists of travel transport and it’s technical service network, tourist enterprises which are specialized in various types, wide network services. Tourists have a chance to enjoy all of these services. At the transitional stage of shifting to the market economy, tourism is among the priorities in the development of the national economy of our country. It is true that the Georgian tourism faces a range of problems at present, but its recognition and the necessity for its development may be considered as a fact. Besides, we would underline that the revitalization of the Georgian tourism is not only the question of time. This area can bring a lot of benefits as to private firms, as to specific countries. It also has many negative effects were conducted fundamental research and studies to consider both, positive and negative impacts of tourism. In the future such decisions will be taken that will bring, the maximum benefit at minimum cost, in order for tourism to take its place in Georgia it is necessary to understand the role of the tourism sector in the economic structure.

Keywords: transitional stage, national economy, Georgian tourism, positive and negative impacts

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Authors: Shantam Gupta

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The objective of this study is to address the critical need for automation in the domestic food processing sector and study its impact. Food is the one of the most basic physiological needs essential for the survival of a living being. Some of them have the capacity to prepare their own food (like most plants) and henceforth are designated as primary food producers; those who depend on these primary food producers for food form the primary consumers’ class (herbivores). Some of the organisms relying on the primary food are the secondary food consumers (carnivores). There is a third class of consumers called tertiary food consumers/apex food consumers that feed on both the primary and secondary food consumers. Humans form an essential part of the apex predators and are generally at the top of the food chain. But still further disintegration of the food habits of the modern human i.e. Homo sapiens, reveals that humans depend on other individuals for preparing their own food. The old notion of eating raw/brute food is long gone and food processing has become very trenchant in lives of modern human. This has led to an increase in dependence on other individuals for ‘processing’ the food before it can be actually consumed by the modern human. This has led to a further shift of humans in the classification of food chain of consumers. The effects of the shifts shall be systematically investigated in this paper. The processing of food has a direct impact on the economy of the individual (consumer). Also most individuals depend on other processing individuals for the preparation of food. This dependency leads to establishment of a vital link of dependency in the food web which when altered can adversely affect the food web and can have dire consequences on the health of the individual. This study investigates the challenges arising out due to this dependency and the impact of food processing on the economy of the individual. A comparison of Industrial food processing and processing at domestic platforms (households and restaurants) has been made to provide an idea about the present scenario of automation in the food processing sector. A lot of time and energy is also consumed while processing food at home for consumption. The high frequency of consumption of meals (greater than 2 times a day) makes it even more laborious. Through the medium of this study a pressing need for development of an automatic cooking machine is proposed with a mission to reduce the inter-dependency & human effort of individuals required for the preparation of food (by automation of the food preparation process) and make them more self-reliant The impact of development of this product has also further been profoundly discussed. Assumption used: The individuals those who process food also consume the food that they produce. (They are also termed as ‘independent’ or ‘self-reliant’ modern human beings.)

Keywords: automation, food processing, impact on economy, processing individual

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Authors: Nizar Souiden, Riadh Ladhari

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Like tobacco and alcohol, recreational marijuana falls under the umbrella of ‘sin’ industries’. Notwithstanding this general negative image surrounding marijuana use, some scholars argue that most of the widely believed claims made about recreational marijuana users are irrelevant and that marijuana use can even improve individuals’ decision-making. This study intends to shed light on this particular product category (i.e., marijuana) often overlooked or portrayed as taboo from a business view. More specifically, it investigates whether legalizing the consumption of recreational marijuana would be perceived as ethical and whether companies/organizations involved in the commercialization of this particular product would be held socially responsible. Based on primary data collected in Canada, this study aims to answer the following questions: 1) What moral thoughts do individuals hold with regard to the consumption of recreational marijuana? 2) How do these moral thoughts determine consumers’ attitude toward the consumption of recreational marijuana? Regardless of the legalization of recreational marijuana in some countries such as Canada, probing people’s opinions, and investigating their attitudes toward the consumption of recreational marijuana is of important interest to different stakeholders such as consumers, public organizations, private businesses, and trade associations.

Keywords: recreational marijuana, moral thoughts, ethics, attitude

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Authors: Sittichai Charoensettasilp, Chong Wu

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This study employs sampling of 400 Thai people who live in Bangkok and have used air transportation to travel. A random convenience sampling technique is used to collect data. The results found that at 0.05 significance level the differences of means of Thai consumers’ expectations (before) and satisfaction (after) receiving services in the service marketing mix, the results of all aspects are different both in general and for each aspect of the service marketing mix. Average levels of expectations before receiving services are higher than satisfaction after receiving services in all aspects, as well. When analyzing further to the correlation between average means, the means of expectations before receiving services are higher than those of satisfaction after receiving services in general. As in all aspects of the service marketing mix, any aspect that has a big difference between expectations before receiving services and satisfaction after receiving services has low correlation.

Keywords: domestic low-cost airlines, Thai consumers, relationship, expectation before receiving services, satisfaction after receiving services

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Authors: Torben Hansen, Lars Gronholdt, Alexander Josiassen, Anne Martensen

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Consumers often exhibit a bias in their knowledge; they often think that they know more or less than they do. The concept of 'knowledge over/underconfidence' (O/U) has in previous studies been used to investigate such knowledge bias. O/U appears as a combination of subjective and objective knowledge. Subjective knowledge relates to consumers’ perception of their knowledge, while objective knowledge relates to consumers’ absolute knowledge measured by objective standards. This separation leads to three scenarios: The consumer can either be knowledge calibrated (subjective and objective knowledge are similar), overconfident (subjective knowledge exceeds objective knowledge) or underconfident (objective knowledge exceeds subjective knowledge). Knowledge O/U is a highly useful concept in understanding consumer choice behavior. For example, knowledge overconfident individuals are likely to exaggerate their ability to make right choices, are more likely to opt out of necessary information search, spend less time to carry out a specific task than less knowledge confident consumers, and are more likely to show high financial trading volumes. Through the use of financial services as a case study, this study contributes to previous research by examining how consumer knowledge O/U affects two types of trust (broad-scope trust and narrow-scope trust) and consumer relationship satisfaction. Trust does not only concern consumer trust in individual companies (i.e., narrow.-scope confidence NST), but also concerns consumer confidence in the broader business context in which consumers plan and implement their behavior (i.e., broad scope trust, BST). NST is defined as "the expectation that the service provider can be relied on to deliver on its promises’, while BST is defined as ‘the expectation that companies within a particular business type can generally be relied on to deliver on their promises.’ This study expands our understanding of the interplay between consumer knowledge bias, consumer trust, and relationship marketing in two main ways: First, it is demonstrated that the more knowledge O/U a consumer becomes, the higher/lower NST and levels of relationship satisfaction will be. Second, it is demonstrated that BST has a negative moderating effect on the relationship between knowledge O/U and satisfaction, such that knowledge O/U has a higher positive/negative effect on relationship satisfaction when BST is low vs. high. The data for this study comprises 756 mutual fund investors. Trust is particularly important in consumers’ mutual fund behavior because mutual funds have important responsibilities in providing financial advice and in managing consumers’ funds.

Keywords: knowledge, cognitive bias, trust, customer-seller relationships, financial services

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Authors: Pisit Potjanajaruwit

Abstract:

The objective of this research was to study the influence of Integrated Marketing Communication on Buying Decision of Consumers in Bangkok. A total of 397 respondents were collected from customers who drive in Bangkok. A questionnaire was utilized as a tool to collect data. Statistics utilized in this research included frequency, percentage, mean, standard deviation, and multiple regression analysis. Data were analyzed by using Statistical Package for the Social Sciences. The findings revealed that the majority of respondents were male with the age between 25-34 years old, hold undergraduate degree, married and stay together. The average income of respondents was between 10,001-20,000 baht. In terms of occupation, the majority worked for private companies. The effect to the Buying Decision of Consumers in Bangkok to including sale promotion with the low interest and discount for an installment, selling by introducing and gave product information through sales persons, public relation by website, direct marketing by annual motor show and advertisement by television media.

Keywords: Bangkok metropolis, ECO car, integrated marketing communication, international standard

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Authors: Payal Bose

Abstract:

The impact of music on consumers' attention and emotions at different parts of the day are rarely/never studied. Music has been widely studied in different parameters, such as in-store music and its atmospheric effects, to understand consumer arousal, in-store traffic, perceptions of visual stimuli, and actual time spent in the store. Further other parameters such as tempo, shopper's age, volume, music preference, and its usage as foreground or background music acting as a mediator and impacting consumer behavior is also well researched. However, no study has traversed the influence of music on social media advertisements and its impact on the consumer mind. Most studies have catered to the influence of music on consumers conscious. A recent study found that playing pleasant music is more effective on weekdays in enhancing supermarkets' sales than on weekends. This led to a more pertinent question about the impact of music on different parts of the day and how it impacts the attention and emotion in the consumers’ mind is an interesting question to be asked given the fact that there is a high usage of social media advertisement consumption in the recent past on a day-to-day basis. This study would help brands on social media to structure their advertisements and engage more consumers towards their products. Prior literature has examined the effects or influence of music on consumers largely in retail, brick-and-mortar format. Hence most of the outcomes are favorable for physical retail environments. However, with the rise of Web 3.0 and social media marketing, it would be interesting to see how consumers' attention and emotion can be studied with the effects of music embedded in an advertisement during different parts of the day. A smartphone is considered a personal gadget, and viewing social media advertisements on them is mostly an intimate experience. Hence in a social media advertisement, most of the viewing happens on a one-on-one basis between the consumer and the brand advertisement. To the best of our knowledge, little or no work has explored the influence of music on different parts of the day (per the circadian rhythm) in advertising research. Previous works on social media advertisement have explored the timing of social media posts, deploying Targeted Content Advertising, appropriate content, reallocation of time, and advertising expenditure. Hence, I propose studying advertisements embedded with music during different parts of the day and its influence on consumers' attention and emotions. To address the research objectives and knowledge gap, it is intended to use a neuroscientific approach using fMRI and eye-tracking. The influence of music embedded in social media advertisement during different parts of the day would be assessed.

Keywords: music, neuromarketing, circadian rhythm, social media, engagement

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Authors: Nikita Bharadia, Vikas Gupta, Sushant Koshy

Abstract:

Mobile phone applications (“apps”) have generated substantial interest among marketers and researchers because of the developments in the smartphone technology and the availability of affordable phones to a large number of consumers. Apps are enabling brands to engage with consumers at any time and any place. This study utilizes a pre-test/post-test experimental design to determine if apps can have a persuasive impact on the consumer attitude towards the brand and her purchase intention. The study also tests the impact of informational vs. interactive style of apps on categories with high and low level of involvement. The results show that for high involvement brands, consumers have a predetermined brand image and apps that satisfy consumer needs through an interactive interface can increase purchase intention. For low involvement brands, while informational apps do not create substantial engagement, interactive apps can increase consumer focus on the brand and establish personal connect with the consumers. This has a positive impact in the attitude towards the brand. These results suggest that understanding how to maximize the consumer interaction with mobile phone apps will be a key topic of future research. This research indicates that managers need to evaluate the how apps can solve consumer needs before investing resources towards digital marketing campaign for their brands, following the global trend to capitalize on the digital platforms.

Keywords: App execution style, high and low involvement categories, mobile marketing, smartphone applications

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Authors: Torben Hansen

Abstract:

While trust has long been regarded as one of the most critical variables for developing and maintaining well-functioning financial customer-seller relationships it can be suggested that trust not only relates to customer trust in individual companies (narrow-scope trust). Trust also relates to the broader business context in which consumers may carry out their financial behaviour (broad-scope trust). However, despite the well-recognized significance of trust in marketing research, only few studies have investigated the role of broad-scope trust in consumer financial behaviour. Moreover, as one of its many serious outcomes, the global financial crisis has elevated the need for an improved understanding of the role of broad-scope trust in consumer financial services markets. Only a minority of US and European consumers are currently confident in financial companies and ‘financial stability’ and ‘trust’ are now among the top reasons for choosing a bank. This research seeks to address this shortcoming in the marketing literature by investigating direct and moderating effects of broad-scope trust on consumer financial behaviour. Specifically, we take an ability-effort approach to consumer financial behaviour. The ability-effort approach holds the basic premise that the quality of consumer actions is influenced by ability factors, for example consumer knowledge and cognitive effort. Our study is based on two surveys. Survey 1 comprises 1,155 bank consumers, whereas survey 2 comprises 764 pension consumers. The results indicate that broad-scope trust negatively moderates relationships between knowledge and financial healthiness and between cognitive effort and financial healthiness. In addition, it is demonstrated that broad-scope trust negatively influences cognitive effort. Specifically, the results suggest that broad-scope trust contributes to the financial well-being of consumers with limited financial knowledge and processing capabilities. Since financial companies are dependent on customers to pay their loans and bills they have a greater interest in developing relations with consumers with a healthy financial behaviour than with the opposite. Hence, financial managers should be engaged with monitoring and influencing broad-scope trust. To conclude, by taking into account the contextual effect of broad-scope trust, the present study adds to our understanding of knowledge-effort-behaviour relationship in consumer financial markets.

Keywords: cognitive effort, customer-seller relationships, financial healthiness, knowledge, trust

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Authors: Paolo Magnata

Abstract:

The energy market in the Philippines remains to have one of the highest electricity rates in the region averaging at US$0.16/kWh (PHP6.89/kWh), excluding VAT, as opposed to the overall energy market average of US$0.13/kWh. The movement towards renewable energy, specifically solar energy, will pose as an expensive one with the country’s energy sector providing Feed-in-Tariff rates as high as US$0.17/kWh (PHP8.69/kWh) for solar energy power plants. Increasing the share of renewables at the current state of the energy regulatory background would yield a three-fold increase in residential electricity bills. The issue lies in the uniform charge that consumers bear regardless of where the electricity is sourced resulting in rates that only consider costs and not the consumers. But if they are given the option to choose where their electricity comes from, a number of consumers may potentially choose economically costlier sources of electricity due to higher levels of utility coupled with the willingness to pay of consuming environmentally-friendly sourced electricity. A contingent valuation survey was conducted to determine their willingness-to-pay for solar energy on a sample that was representative of Metro Manila to elicit their willingness-to-pay and a Single Bounded Dichotomous Choice and Double Bounded Dichotomous Choice analysis was used to estimate the amount they were willing to pay. The results showed that Metro Manila residents are willing to pay a premium on top of their current electricity bill amounting to US$5.71 (PHP268.42) – US$9.26 (PHP435.37) per month which is approximately 0.97% - 1.29% of their monthly household income. It was also discovered that besides higher income of households, a higher level of self-perceived knowledge on environmental awareness significantly affected the likelihood of a consumer to pay the premium. Shifting towards renewable energy is an expensive move not only for the government because of high capital investment but also to consumers; however, the Green Energy Option (a policy mechanism which gives consumers the option to decide where their electricity comes from) can potentially balance the shift of the economic burden by transitioning from a uniformly charged electricity rate to equitably charging consumers based on their willingness to pay for renewably sourced energy.

Keywords: contingent valuation, dichotomous choice, Philippines, solar energy

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Authors: Tamar Lazariashvili

Abstract:

There are a number of factors that determine the growth and development of the country's economy; however, trade and economic relations with other countries are the most important of all these factors. The paper analyzes the trade and economic relations between Georgia and Germany, identifies the impediments caused by the Covid pandemic, and substantiates the need for further economic cooperation between the countries. Research objectives. The objective of the research is to develop recommendations and reveal the prospects of further cooperation between Georgia and Germany based on identifying the problems in the field of trade and economy in the post-crisis situation. The research object is Georgian German economic relations. Germany is Georgia's largest trading partner in the European Union. Georgia and Germany actively cooperate within the framework of international organizations as well. The paper analyzes the multilateral and intensive economic relations between Germany and Georgia; evaluates the investments of German companies in Georgia and the activities of Georgian companies in Germany. Research methods. The paper uses general and specific research methods; in particular, analysis, synthesis, induction, deduction, comparison, statistical (selection, grouping, observation, trend), and other research methods.SWOT analysis is used to determine development opportunities between countries. As a result of the research economic ranking of Georgia and Germany are determined according to the above criteria, the causes of the impediments due to the pandemic are studied; the main problems in the field of trade and economy are identified. The paper provides conclusions on the problems in the trade relations between Georgia and Germany and suggests recommendations regarding the prospects for improving these relations.

Keywords: georgia-germany, trade and economic relations, economic ranking, perspective directions

Procedia PDF Downloads 159