The Impact of COVID-19 on Sustainability and Changing Consumer Behavior in the Textile Industry. Is it Significant?

Understanding consumer behavior and clearly predicting its subsequent direction is a complex process. We can often see significant differences between how a consumer behaves in a given market and what his attitudes, needs, or expectations are. It is very important to place much more emphasis on the area of consumer behavior than on the individual, to meet his needs and wishes as much as possible. In the following article, we conducted a survey in the form of a questionnaire on an online platform with a sample of 500 respondents from the Slovak Republic. The foundation of our study was to examine whether the COVID-19 pandemic, which is still a topical issue and it is a significant impact on daily life, has changed the shopping behavior in the clothing industry with which they consciously purchase. We were also interested in the dependence between income and frequency of purchase. The methods used in the paper were based on a theoretical elaboration of the issue of consumer behavior and the clothing industry as the second-largest polluter of the environment after the oil industry, subsequent analysis and synthesis. Another statistical method that we used in the paper was the analysis of qualitative data from the questionnaire survey through the creation of contingency tables and determining the dependence, respectively, independence between individual variables. We consider this article to be a good basis for further research

How Shopping was Transformed from Offline to Online Space - A Case Study within the Slovak Republic

The prognosis and determination of consumer behavior is not an easy process. As part of the development of consumer behavior as the last member of the B2C market in the distribution channel, one can observe the gradual decline of brick-and-mortar stores and the rise of online shopping for several decades, especially the enormous growth of online shopping over the last two years caused by the COVID-19 pandemic. However, it should be noted that many retailers offer their products simultaneously in brick-and-mortar stores and also through the e-shop. The main purpose of the article is to determine the dependence of spent funds on the basis of individual criteria. The primary data were obtained by conducting a questionnaire survey, in which we determined the amount of spent funds for traditional and online retail shopping. Data were analyzed using the Shapiro-Wilk normality test, followed by an analysis of the dependencies of the variables using the Kruskal-Wallis’s test and one-way ANOVA. The results show that, apart from gender, the other factors examined do not affect the amount of spent money. Due to the absence of published academic literature and empirical findings concerning the behavior of retail trade format selection in the Slovak market, this study may serve as a starting point for future studies in this area of interest. The survey is also relevant for retailers in terms of format development and reorientation of marketing strategies

Behavioral model of business change management in relation to building competitiveness in market economy conditions

In the current market environment, the actual dynamics of the application of internal corporate factors is differentiated. The company thus tries to influence customers’ shopping behavior as effectively as possible. Therefore, it is important for the company to be able to adapt to these changes as effectively as possible. The purpose of the article is to analyze the factors influencing consumer behavior in the market conditions of the Slovak Republic. We described the current situation by a survey, which we conducted in 2020–2021. Among the selected categorical variables, we verified the dependence in two hypotheses by the statistical method of Pearson’s Chi-Square test. Using the method, we pointed out the factors that influence consumer behavior and can be important for change management. We compared the results of the survey with the results of similar surveys conducted abroad. Accepting the results of the survey, we proposed a general model of change management in the discussion part of the article. The model is thus a practical implication for companies with a differentiated subject of business. It also takes into account the behavioral characteristics that the company should adapt to in the current situation in order to achieve its strategic goals

Is there an Impact of Company Size and Industry on Corporate Culture? An Empirical Study from the Slovak Republic

Nowadays, corporate culture has become a strategic priority for companies. It is an important part of companies, as it indicates the overall trend in the behaviour of employees' work relations and processes. At the same time, corporate culture helps employees understand the company, identify with the company's goals, and become part of the company. Some authors consider corporate culture to be the main characteristic that distinguishes successful companies. If a company exhibits a high level of culture, its organizational performance also increases. Therefore, we consider corporate culture to be an integral part of every company. Data for the research was obtained through an online questionnaire. Subsequently, we used the statistical program IBM SPSS 25. To determine the existence of a relationship between company size and corporate culture and between industry and corporate culture, we used Pearson's χ2 test for contingency tables, as the variables are qualitative. Subsequently, we evaluated the strength of the relationship based on Cramer's V. Subsequently, correspondence analysis was used to display the use of corporate culture for industries according to SK NACE and company size. Using Pearson's χ2 test, we found that there is a weak relationship between firm size and corporate culture, and a moderate relationship between industry and corporate culture. On the basis of correspondence analysis, we found, for example, that micro-enterprises use a culture of power, medium-sized enterprises use a culture of roles, and the electricity and gas supply industry uses a culture of performance. The added value of the article is the topicality of the research and the fact that the results relate to the Slovak Republic and can serve as a basis for further research. As a limitation of our research, we can consider that not all branches of the Slovak economy were represented according to SK NACE

How Shopping was Transformed from Offline to Online Space - A Case Study within the Slovak Republic

The prognosis and determination of consumer behavior is not an easy process. As part of the development of consumer behavior as the last member of the B2C market in the distribution channel, one can observe the gradual decline of brick-and-mortar stores and the rise of online shopping for several decades, especially the enormous growth of online shopping over the last two years caused by the COVID-19 pandemic. However, it should be noted that many retailers offer their products simultaneously in brick-and-mortar stores and also through the e-shop. The main purpose of the article is to determine the dependence of spent funds on the basis of individual criteria. The primary data were obtained by conducting a questionnaire survey, in which we determined the amount of spent funds for traditional and online retail shopping. Data were analyzed using the Shapiro-Wilk normality test, followed by an analysis of the dependencies of the variables using the Kruskal-Wallis’s test and one-way ANOVA. The results show that, apart from gender, the other factors examined do not affect the amount of spent money. Due to the absence of published academic literature and empirical findings concerning the behavior of retail trade format selection in the Slovak market, this study may serve as a starting point for future studies in this area of interest. The survey is also relevant for retailers in terms of format development and reorientation of marketing strategies

Transfer pricing in the conditions of the Slovak Republic

Research background: All of the world’s economic relations in today’s world are subject to the process of globalization. Increasingly, the economic activity of many entrepreneurs transcends national borders, often operating in the form of multinational companies. Through the Transfer Pricing Institute, multinational companies can transfer their pre-tax profits from one country to another, and this phenomenon often harms the affected countries, which can result in lower tax revenues and a deterioration in the balance of payments. Transfer pricing generally seeks to prevent similar shifting of profits and thus prevent possible tax evasion. Purpose of the article: The aim of this article is primarily to summarize the knowledge and procedures of transfer pricing and its importance in the conditions of the Slovak Republic. The article also aims to explain to the general public why transfer pricing is important and necessary for a healthy economy. Methods: In this work, the methods of induction, deduction, and comparison were used to obtain a true picture of the issue of transfer pricing. Methods of synthesis and analysis of the researched issues were also used. Findings & Value added: In addition to a general overview of this issue, we consider the result of this work to summarize the legislative framework of transfer pricing and also provide a brief and clear example of the transfer of profits in transfer pricing between two and within one country and their impact on the country’s economy

The Power of Emotional Advertising Appeals: Examining Their Influence on Consumer Purchasing Behavior and Brand–Customer Relationship

Irrationality is a strong phenomenon in consumer behavior that significantly impacts final purchase decisions. Through holistic approaches, companies have become more oriented towards emotional experiences. This study investigates the emotional impact of Dove brand advertising appeals on the frequency and intensity of emotions experienced by Slovak consumers. A theoretical framework was created for the conceptual development of emotional appeals in advertising and their impact on irrational purchasing behavior. An online questionnaire was conducted using the scale of subjective emotional habitual well-being (“SEHP”) of the psychodiagnostic tool on a sample of 417 Slovak consumers. The results show that (1) advertising with emotional appeal has different effects on consumers’ purchasing behavior depending on their age, (2) advertising with emotional appeal affects consumers more negatively than positively, and (3) the use of emotional appeal in the advertising space creates an emotional connection with the brand. Our study shows that the current trends in the influence of emotional appeal can promote impulsive and irrational buying behaviors. Thus, consumers become part of the brand, creating an emotional connection between them. This connection can result in positive purchase decisions. Creating emotional appeal in cosmetic products also has social significance in building self-confidence, status, and beauty

COMPARISON OF SELECTED INTERNATIONALLY RECOGNIZED BRAND VALUATION METHODS

Research background: There are many consultative groups and market research companies on the market that have also brand valuation included in their service portfolios. Such companies tend to adopt their own unique approaches to value brands to face increasing competition, which is also reinforced by the fact that brand constitutes the company's most valuable commercial and intangible assets. The paper compares selected internationally recognized brand valuation methods, using the mathematical statistics apparatus (Pearson and Spearman correlation coefficients), on the sample of 12 global well-known brands (Apple, Google, Microsoft, Coca-Cola, Facebook, Toyota, IBM, Disney, McDonald's, General Electric, Samsung and Amazon). Purpose of the article: The aim is to analyze the brand values and the methods applied for possible deviations, and identify whether they are statistically significant and/or find any statistical correlation, or eventually recognize them as totally different and independent approaches. Methods: The analysis is carried out by pairwise comparison of selected brand values provided by selected consultative companies (Forbes, Interbrand, Brand Finance and Millward Brown). The degree of correlation of brand values provided by respective consultative groups is calculated using the following correlation coefficients: Pearson's correlation coefficient and its modified non-parametric version involving ordinals — Spearman's rank correlation coefficient. Findings & Value added: The analysis proved the highest correlation of the brand values provided by the Forbes and Interbrand; Subsequently, a trend analysis is carried out to determine the development over time, identifying the most striking development in the brand values provided by Millward Brown (BrandZTM) for the period 2013–2016

Value Added Tax and Its Influence on Pricing and Price Decision Making of Companies – A Case Study

Pricing is a complex process that is influenced by many factors, which companies must constantly take into account when creating prices. The final selling price is formed by various influences, including the impact of value added tax (VAT). This tax affects all final consumers, but it also affects the businesses themselves in setting their sales prices. The main goal of this paper is to analyze the impact of VAT on pricing and to prove the fact that VAT values affect both the payer and the non-payer of VAT, if they buy from the VAT payer. The purpose is to point out the difference in the selling price between these two entities and thus to prove the influence of VAT on their pricing. In this paper, the methods of induction and deduction were used, as well as methods of analysis and synthesis. Based on the performed analyzes, we proved the influence of VAT on the pricing of both the payer and the non-payer of VAT, while the difference is observable in the amount of their selling price and tax liability

The Importance of Probabilistic Analysis in the Application of the Marketing Strategy of the Selected Brand

Entering foreign markets can be an opportunity for some brands. Expansion contributes to developing competitiveness, building a brand and increasing profits, which will be reflected in overall business performance in a market environment. In this article, we elaborate on the identification data of the Starbucks brand. We identify the international environment and the current marketing strategy of the brand. We also focus on defining its marketing performance with regard to the application of the current strategy in the international environment when entering the target foreign market. Based on the analyzed data on the brand and performance, we approach the probabilistic analysis in order to identify the right foreign market. The performed analysis consists of two basic stages. The first step is a rough selection analysis and a fine selection analysis. In the discussion part, we define the advantages and limitations of the brand’s entry into a new foreign market. We support the individual statements with the results of a coarse and fine selection analysis. We also describe the use and limitations of the brand’s cooperation strategy in the future. In the final part of the article, we identify the identified statements with the current marketing strategy and suggest the direction of its development when entering a new foreign market