COVID-19 and Behavioral Factors of e-Payment Use: Evidence from Serbia

Banknotes and coins are some of the most frequently traded items in the world. Their current use, however, is unsustainable, and many countries are trying to digitalize their payment systems. The recent pandemic has accelerated this transition. Building on the Theory of Unintended Consequences, the aim of this article is to examine the influence of some pandemic-specific factors (in specific, hand sanitization, conspiracy theory mentality, and financial acumen) on the current and prospective use of e-payment. A particular aim of the study is to analyze these relationships in Serbia (as an example of a cash-centric society). The study is based on primary data gathered via a questionnaire. The questionnaire was designed for the purpose of this study. In total, the study examined N = 474 examinees. The results of this study confirm that the pandemic-induced variables are statistically significant predictors of e-payment use. In particular, hand sanitization, conspiracy mentality (reversely), and financial acumen positively affect current and prospective e-payment use

Conceptual approach to corporate reputation modeling

Based on the proven influence of corporate reputation on the business performance and market value of the company, primarily through positive impact on the attitudes and behavior of consumers and key stakeholders, the attention of scientists and practitioners dedicated to the modeling and measurement of corporate reputation increased. Scientists have not yet reached a consensus about the theoretical framework for managing and measuring reputation. The main point of differences in approaches are constituents of reputation - what reputation comprises and what are the antecedents and consequences of reputation. The paper contains an overview of the contemporary theoretical models of reputation, systematized in three main conceptual approaches: concept based on social expectations, concept based on 'corporate personality' and concept based on trust. Cultural or geographical determination of the model has a significant impact on the type and importance of the elements comprising the construct of reputation. The scientific discussion about the validity of the application of the same model for measuring reputation in various countries and cultural environments resulted in the necessity of adaptation of the model in order to be valid and comparable. Therefore, the paper presents a model for measurement of corporate reputation in Serbia, which contains six basic dimensions associated with 23 attributes identified by empirical research

Impact of Advertising Appeals on Purchase Intention

Companies use various appeals in their advertising practice to impact consumers’ attitudes and purchase intention by an advertisement. Advertising appeals can be divided into rational or emotional, depending on whether companies want to influence the rational or the emotional motives of the consumer to purchase of the advertised product. Since there is no general pattern for the use of appeals and the success of an advertising message, this study aims to explore the impact of the emotional and rational advertising appeals on the purchase intention. The results of the empirical research, conducted using the focus groups method, are shown in this paper and the focus group participants were members of the student population.The research results indicate that different advertising appeals may have a different impact on the consumer’s purchase intention; in case of women, the emotional appeal has a stronger impact while for men it is the rational appeal, while “fear appeal” proved to be effective to a certain point, after which it causes selective perception and rejection. This implies that depending on the product, its purpose and target group, advertisers can choose the type of appeal, combination of the appeals and their creative presentation, based on the empirical confirmation of the efficiency the approach

How to write cases and teaching notes in marketing education?

This paper presents guidelines for developing cases and teaching notes for marketing classes in higher education. Cases are often used in problem-based learning, where students are placed in a problem or decision-making situation and are encouraged to take the role of problem solvers. The recommendations for case writing are based on analysis of high-level examples of marketing cases, published in the most prominent global publishing databases, along with more than 15 years of experience of the authors. This paper explains the process of writing cases depending on the source of data and tackles all necessary issues that should be addressed. Writing teaching notes is focused on providing the supportive material for a case that helps a lecturer understand the reason for writing the case, the questions that might arise from it and the professional or theoretical points that should be raised in discussion. This paper should contribute to interactive learning and provide lecturers with detailed recommendations for writing cases in the marketing field

Value of CRM initiatives for banks: Is the skepticism justified?

Financial services sector has undergone through dynamic development and there is an obvious need for innovative business models that will contribute to the clients' satisfaction as well as to acquisition of new clients. Customer relationship management could be defined as a strategy for understanding clients' needs with the goal to provide higher level of satisfaction, long-term cooperation and sales increase. In literature is still present scepticism about the value of CRM initiatives and accomplished improvements of business performances. Consequently, the aim of this paper is to understand basics and indicators of CRM success in banking sector. Paper gives literature review in this field and determines necessary resources to achieve advantages from long-term and good relationships with customers

Model for Managing Corporate Social Responsibility

As a crossfuncional process in the organization, effective management of corporate social responsibility requires a definition of strategies, programs and an action plan that structures this process from its initiation to the measurement of end effects. Academic literature on the topic of corporate social responsibility is mainly focused on the exploration of the business case for the concept, i.e., the determination of effects of social responsibility on individual aspects of the business. Scientific research so far has shown not to have been committed to formalizing management concept in this domain to a satisfactory extent; it is for this reason that this paper attempts to present one model for managing corporate social responsibility. The model represents a contribution to the theory and business practice of corporate social responsibility, as it offers a strategic framework for systematic planning, implementation and evaluation of socially responsible activities and programs

Is there a correlation between organizational features and digital communication usage?

Digitalization, networking and information sharing have brought to the paradigm shifts in both business and marketing communication. Extant scholarly and practical studies emphasize the importance of digital communication tools and activities, and explore new opportunities for organizations. Unlike previous studies, this study is not solely focused on the usage, but rather on the examination and determination of differences in the usage of digital communication in organizations of various characteristics such as size, industry, business maturity and geographical coverage. A transversal empirical study was conducted in the Republic of Serbia, on a randomly selected sample of 231 private and publicly owned organizations - companies, institutions and banks. The results indicate that the statistical difference in the usage of digital communication tools and activities by organization types exists, whereby the intensity of correlation differs depending on the organizational feature and digital communication tool or activity

The business case for corporate social responsibility

In addition to generating economic growth and competitiveness, modern society expects from companies active contribution to sustainable development of economy and society, as well as preservation of the environment. Corporate social responsibility as a business philosophy aims at achieving long-term benefits for the company and the society in which it operates. Although the concept of corporate social responsibility has already been accepted in both theory and practice, the goal of this paper is to underline the arguments and benefits of introducing the concept in business community. The paper presents the business case for corporate social responsibility through the presentation of the impact on the financial performance of the company, consumer behavior and ultimately on its reputation

Embryonic tech ventures’ orientation and performance

Introduction and objectives: A broad body of knowledge is developing around the influence of market and entrepreneurial orientation on business performance. However, high-tech firms in the embryonic (R&D and start-up) phase of development have stayed off the research radars. Taking a resource-based view, this study examined the role of market and entrepreneurial orientation on the performance of new ventures within a growing entrepreneurial ecosystem of Serbia. Methods: The study is based on primary data gathered via a questionnaire and examined tech ventures founders from Serbia whose ventures are in either research and development or start-up phase. Results: The findings confirm that both market and entrepreneurial orientation play an immense role in the embryonic phase and throughout the process of launching a new tech firm. Conclusion: The study found that market orientation primarily influences problem discovery, value proposition and product designing, as well as team gathering. Entrepreneurial orientation more significantly affects performance in the context of MVP creation, first customer acquisition, initial revenue stream and investment for the next phase of tech venture development. Implications and research limitation: The study suggests that new ventures leaders have to develop both market and entrepreneurial competences. At the beginning, they should invest more into the activities related to market orientation, and during the further tech venture development, entrepreneurial orientation leads to finalization of a product/service development and its commercialization. Even though this study provides useful and valuable insights, it does not reflect all concepts of entrepreneurial success and a larger sample size from other geographical regions would be more suitable for the generalizability of study findings. Yet, the implications of the study are highly relevant for Serbian ecosystem as the business environment is not stimulating enough for growth and development of new ventures, and consequently founders have to rely on their own competencies and knowledge

Antecedents of Citizens' Satisfaction with Local Administration in Serbia

<p>The role of local administration in recent decades has rapidly changed worldwide. Pressure for citizen-centrism coming from various interest groups has triggered the need to implement marketing and management concepts which characterize the business sector. Relatively few studies have focused on emerging trends of improvements in exceeding this bureaucratic paradigm in local administration. This study examines and explores citizens’ perception on determinants influencing their satisfaction with local administration services in Serbia. The study uses an exploratory approach. A questionnaire was distributed to 605 users of local administration services. Empirical evidence indicates that, from the citizens’ point of view, customer orientation, employees’ behavior and attitudes, as well as the process of service delivery impact the overall customer satisfaction with local administration. The study also discusses important implications on potential improvements of local administration.</p