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Factors Affecting Customer Retention in the Airline Industry

Abstract

Purpose: This study empirically investigated the factors that affect customer retention in the airline industry in North Cyprus. These factors were service quality attributes, perceived safety, customer satisfaction, loyalty reward program, relationship commitment and customer loyalty. The study also investigated four different groups for purposes of travel (business, education, vacation and family visit) in the empirical model.

Methodology: A descriptive approach was chosen to conduct this research. A quanhip between customer retention and the related study factors; however, not all of these relations are significant. The results also showed that the different purposes of travel had different influences on the variables regarding the positive and significant relations between them. Some independent variables had a negative effect on the dependent variables.

Conclusions: This research was limited to one group and place: the students of Eastern Mediterranean University in North Cyprus.

Originality: This study connected the retention, loyalty, satisfaction and service quality factors as attributes. In addition, this research was the first to include other independent factors affecting satisfaction and loyalty in a comparison between four different groups regarding the purpose of travel in the airline industry.

Open access
Components of Financial Literacy of Young People

Abstract

The financial crisis has drawn attention to the importance of the population’s financial literacy. I am investigating assessment methodologies to evaluate financial literacy both from the point of view of macroeconomics and microeconomics in my study. I am of the opinion that the elaboration of the financial competency model based on international database is the solution that can lead to the determination of conditions of financial awareness by collectively investigating financial education, core competencies, and the psychological role of money. I surveyed the financial knowledgeability of Hungarian high school students with the help of field research after assessing the OECD and PISA findings. I received very different results of knowledge, behaviour, and attitudes by school type, gender, age-group, and family background, which might support the assessment of financial literacy indicators, the evaluation of results, and international comparisons.

Open access
Enhancing the Value of Lifestyle Bundles

Abstract

Research purpose. The study of marketing a lifestyle offering involves allowing brands from different categories to collaborate in giving, essentially, a new offering as a bundle to consumers. This is particularly important for brands operating in segments that have a significant loyalty or in segments that have become or are becoming commodities. A lifestyle offering can span categories and address latent consumer attitudes such as aspiration and convenience. Lifestyle bundles were introduced as a “way of life that individuals express by choosing to allocate their time and personal resources to a single package of two or more goods or services that they believe represent their current or desired way of life” (Levens, 2010). The initial research on lifestyle bundles was contextualized through a bundled multi-category luxury offering, targeting affluent consumers, which was built on the concepts of luxury marketing, bundling and the needs, attitudes and behaviours of affluent consumers. The bundle items include a home, a vehicle and a vacation club. This paper revisits the original work on this topic and explores ways to enhance interest in the underlying bundle proposition.

Design / Methodology / Approach. The methodology to explore enhancements to the lifestyle bundles involved re-analyzing the data cube used to develop the inaugural lifestyle bundle research (Levens, 2010). The data cube was mined to identify individual preferences to increase consumer interest in the original concept. The underlying argument is that adjusting the lifestyle bundle items may increase consumer interest in the overall concept. The analysis presented in this paper was completed through statistical description using SPSS software.

Findings. The initial concept evaluation identified a non-trivial level of interest in the lifestyle bundle consisting of a home, a vehicle and a vacation club. This paper identifies modifications to the bundles that would increase consumer interest among rejecters and supporters of the lifestyle bundle concept. While novelty was acknowledged as a reason for consumer interest, it was clear that utility derived from convenience and lifestyle expression was the basis for many consumers supporting the concept. Concept rejecters also noted these attributes as influencing their opinions. Elimination of the vacation club offer from the lifestyle bundle would have the greatest impact on increasing rejection. Adding home and vehicle insurance to the lifestyle bundle would have the greatest impact on enhancing the value proposition for concept supporters.

Originality / Value / Practical implications. Lifestyle bundles are a novel approach for marketers to differentiate their products and create new opportunities among consumers who might have not previously considered their products or services. Enhancing the lifestyle bundle offer can only increase those opportunities.

Open access
Building Effective Marketing Communications in Tourism

Abstract

In the world of rapid technological evolution and economy of digitalization, consumers are continuously changing. Tourists are among the first. Their behaviour, media consumption, engagement level and expectations must influence on transformation of applied communication tools. In recent decades, the pace of change became faster. Media consumption has shifted to Internet, Mobile and innovative mediums. The paper proposes modern forms of communication tools on different stages of making-decision process and describes role of each to build marketing communications of tourism industry actors in a more effective way.

Open access
Factors Influencing the Selection of Retail Chains with Large Purchasing in Bosnia and Herzegovina

Abstract

The aim of the paper is to analyse the impact of factors that dominantly influence the choice of trade chains with large purchases in Bosnia and Herzegovina in retail trade, mainly food, beverages and household hygiene products. The survey was conducted using the survey questionnaire on a representative sample of 350 respondents in Sarajevo, Banja Luka and Mostar, with the aim of determining the prevailing buying behaviour of consumers during large purchases in Bosnia and Herzegovina, in retail outlets from large retail chains. For the purpose of analysing the collected data, the statistical package of SPSS was used, and in particular the methods: variance analysis (ANOVA) and multivariate variance analysis (MANOVA). On the basis of the obtained results, factors that have the greatest influence on the selection of retail chains in large purchases in Bosnia and Herzegovina at the level of Sarajevo, Banja Luka and Mostar can be determined. The contribution of this research is reflected in the recognition and understanding of the behaviour of consumers in the selection of retail chains in Bosnia and Herzegovina. The correct understanding of the factors that lead consumers in making large purchases is of essential importance for the business of retail chains in Bosnia and Herzegovina.

Open access
Emotional Skills: an Essential Axis of Pedagogical Innovation in the Training of Buyers/Managers of External Resources

Abstract

Objective: The transformation of many jobs within companies should give rise to a necessary evolution of skills used by individuals. Whether it is to improve the relevance of decisions or to preserve people’s health, the development of emotional skills for the last ten years has often been presented as a necessity. Buyers, who are more and more seen as managers of external resources, are particularly concerned by this need. By strongly evolving, the purchasing function has become strategic and essential for achieving organizations’ performances. The development of soft skills like the emotional skills of the buyers implies a significant evolution of the training intended for them. It is true if we consider initial training at the University or Business School, as well as in the field of in-company training. Based on a presentation of new needs, we propose possible changes and additions that could be brought to current training.

Methodology: The research was based on the analysis of literature review and real situations observed in companies (especially during training sessions).

Findings: Because of the evolutions of their job, buyers who become more and more managers of external resources should develop their emotional skills. These skills can be developed using adapted training sessions.

Value Added: The importance of emotional skills is pointed out and several ideas aimed at enabling the development of emotional skills are given.

Recommendations: It is recommended to use the TSP chain (Task, Skill, Pedagogy) in order to define adapted pedagogy for the development of emotional skills.

Open access
Reasons of Polish young potential employees’ interest In a university as the employer vr perceiving its employees

Summary

The article has a theoretical-empirical character. Its main goal was to identify reasons of young potential employees’ interest in working at a university. To prepare the theoretical part, the method of cognitive-critical analysis of world literature on marketing, management and HRM was applied. The results of this analysis show an existing cognitive gap and a research gap in the scope of considerations about reasons of interest of the mentioned group of employees in a university as the employer. Striving for reducing both gaps some empirical researches were conducted using the questionnaire method to gather the primary data which were analyzed statistically using the method of exploratory factor analysis, Kruskal-Wallis test, etc. The obtained results made it possible to check three research hypotheses. The possibility to perform a satisfying job was not the key reason for the respondents’ interest in working at a university. The internal structure of reasons for the respondents’ interest in a university as the employer was different for the following two groups: 1/people who think that university’s employees are perceived in Poland better than those who work in other organizations; 2/people who think that university’s employees are perceived in Poland as well as those who work in other organizations. The way of perceiving employees of an university was a feature statistically significantly differentiating the reasons of the respondents’ interest in starting work at the university only in the case of high social prestige and high wages.

Open access
Relationships among Store Image and Store Loyalty in Slovenia

Abstract

Image has become one of the most important factors of stores’ survival and development. In this paper, a model of relationships among the multidimensional variables of store image, positive affect, satisfaction with the store, trust and commitment to the store is formed and tested with a sample of 209 customers in three stores in the Pomurje region of Slovenia. The important conclusion of the research is that several interrelations among store image, positive affect, satisfaction, trust and store commitment exist. The results also show significant gender differences in perceptions of store image. These results provide several important insights for managing supermarkets in the Slovenian market and are also important for future research.

Open access
Attitude and Loyalty to Two Brands of Beer of the Same Producer

Abstract

The focus of the presented research is attitude and loyalty to two brands of beer produced by the Carlsberg Group – Tuborg and Carlsberg. Both beers are lagers. The Carlsberg Group markets Tuborg as a more premium brand, and it also aims to promote it to women. Unlike in the Netherlands with one brand – Heineken and unlike in the Czech Republic with many well-known brands by a multitude of producers, the Danish case gives a unique opportunity to investigate if customers truly prefer one of two brands or are approximately equally low with regards to both brands as it is produced by the same company and tastes very similarly (if not the same). The survey was conducted in Denmark. Respondents were Danish (not international) university students; such selection was done in order to ensure familiarity of respondents with both brands.

Open access
Examination of Satisfaction Level of Bank Service Customers Using Servqual Model

Abstract

Customers, their needs, wishes and expectations have to be in the focus of each market-oriented enterprise, whose aim is to survive and develop in the conditions of continuous changes of environment and pronounced degree of competence. The aim of this paper is to emphasise the importance of customer satisfaction linked to service quality using theoretical survey and empirical research, point to factors that influence its level and present the measurement models in order to provide adequate reaction of the enterprise. Special attention is paid to the examination of relationship between the customer satisfaction, expectations, loyalty and service quality. The establishment and maintenance of long-term relationships based on high level of satisfaction through delivery of superior service quality leads to customer loyalty, whereby loyalty is a precondition for repurchase and realisation of business success of an enterprise. Since banking sector is extremely turbulent and characterised by strong competition, the empirical research conducted by the author using SERVQUAL model is aimed at examination of the satisfaction level of bank service customers and consequently making relevant recommendations and conclusions.

Open access