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Erdoğan Koç, Çağatan Taşkın and Hakan Boz

Consumers are faced with many new products. In almost every product category it is seen that there are more alternatives than provided in previous years. This situation…

Abstract

Consumers are faced with many new products. In almost every product category it is seen that there are more alternatives than provided in previous years. This situation may cause consumers to feel uncomfortable/uncertain, especially about new products. Therefore, since they perceive this uncertainty, customers want to be in control. Control is one of the ways to help customers to decide on perceived risky situations.

The main purpose of the study is to explain the effects of the risk and control drive on consumer behavior and determine how businesses reduce the risk that consumers feel.

It is critical for enterprises to increase their brand awareness in order to reduce consumers’ risk perceptions and increase their controls (cognitive, behavioral, and decision) during purchasing decisions. Also, it will be useful for them to focus on activities increasing brand loyalty. They can especially carry out marketing activities allowing consumers to try new products or providing money back guarantees. Moreover, in order to reduce the risk perception and increase control by the customers, making the promotional contents of the product understandable and simple without hidden factors will contribute in a positive way.

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Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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Contemporary Issues in Business Economics and Finance
Type: Book
ISBN: 978-1-83909-604-4

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Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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Book part

Emrah Ozkul, Hakan Boz, Bilsen Bilgili and Erdogan Koc

This chapter explains the role and potential of colour and lighting as two important elements of the service atmosphere in tourism and hospitality service encounters. The…

Abstract

This chapter explains the role and potential of colour and lighting as two important elements of the service atmosphere in tourism and hospitality service encounters. The chapter first explains the importance of colour and lighting in services from the perspective of customers’ sensory perceptions. Then, the chapter provides examples to demonstrate how psychological/neuro-marketing tools of Eye Tracker and Facial Recognition, Galvanic Skin Response (GSR) and Heart Rate (HR) can be used to understand the role of colour and lighting in customer satisfaction in tourism and hospitality service encounters. Based on this perspective, the study offers recommendations to design service environments in terms of colour and lighting.

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Atmospheric Turn in Culture and Tourism: Place, Design and Process Impacts on Customer Behaviour, Marketing and Branding
Type: Book
ISBN: 978-1-83867-070-2

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Ekrem Tufan, Burcu Engin, Yonca İmer and Merve Aycan

In this chapter, the authors studied cognitive biases such as certainty effect, isolating effect, and overconfidence effect in the Turkish version of “Who Wants to be a…

Abstract

In this chapter, the authors studied cognitive biases such as certainty effect, isolating effect, and overconfidence effect in the Turkish version of “Who Wants to be a Millionaire” TV show. The research was carried out by watching the show during different dates between September 2013 and April 2015 and filling in a questionnaire, which consists of 25 questions. A total of 408 contestants were observed and evidence was found for both certainty and isolation effects.

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Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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Book part

Ramona Rupeika-Apoga, Inna Romānova and Simon Grima

Introduction – Stability of commercial banks is on the back stone of a country’s economy and its development, making bank stability one of the main concerns of financial…

Abstract

Introduction – Stability of commercial banks is on the back stone of a country’s economy and its development, making bank stability one of the main concerns of financial regulators. The bank stability models for large and small economies differ significantly.

Purpose – In this chapter we examine the determinants of bank stability in a small post-transition economy, based on the case of Latvia. Latvia has a well-organized banking system, providing a wide range of services to local and international customers. Besides, the Latvian banking sector is quite unique in Europe as it comprises two sets of banks with radically different target groups of customers and sources of revenue.

Methodology – To carry out this study we analysed panel data of the quarterly financial statements of Latvian banks operating during the period 2012-2017.

Findings – We found evidence of a negative significant relationship between size and bank stability, negative significant impact of liquidity risk on bank stability, a positive significant relationship between capital adequacy and bank stability, as well as a positive significant relationship between credit risk and stability. These results increase the importance of a sufficient level of capital adequacy ratio and liquidity to maintain bank stability. In general, the results of the study confirm the results of other studies on bank stability of small economies, with some exceptions due to the unique situation in term bank business models applied by Latvian banks. The current study provides valuable policy implications to small post-transition economies and stakeholders in general.

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Contemporary Issues in Business Economics and Finance
Type: Book
ISBN: 978-1-83909-604-4

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Book part

Olimpia Livia Preda Buzgurescu and Negru Elena

Introduction – The Romanian industry was one of the most important traditional branches and in the context of the integration of the country into the European Union, the…

Abstract

Introduction – The Romanian industry was one of the most important traditional branches and in the context of the integration of the country into the European Union, the Romanian industry has made progress in the development of several types of industrial branches, attracting in this sector investors with foreign capital that have determined economic growth by branch having a major impact on the achievement of gross domestic product. The progress and sustainable development of a country is interdependent on both macroeconomic and microeconomic development, and the development of a branch of the economy leads to the creation of a stable environment for attracting new investors and implicitly to the upward evolution of the economy by branch.

Purpose – This article identifies models of bankruptcy risk analysis that have as variables relevant performance indicators for examining the bankruptcy risk of Romanian industrial companies so that it is verified how predictable and significant it is to avoid their potential bankruptcy.

Methodology – By using performance indicators such as liquidity, profitability and insolvency, the analysis aims to be a benchmark for the Romanian industrial companies’ research in terms of bankruptcy risk, but also the accuracy of the models chosen to diagnose a potential bankruptcy.

Findings – There was highlighted a strong relationship between the economic and financial indicators and the Z score functions.

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Contemporary Issues in Business Economics and Finance
Type: Book
ISBN: 978-1-83909-604-4

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Book part

Erdoğan Kotil

The exchange rate has been an important topic in the Turkish Economy for many years. It affects prices with exchange rate pass-through. The aim of this chapter is to…

Abstract

The exchange rate has been an important topic in the Turkish Economy for many years. It affects prices with exchange rate pass-through. The aim of this chapter is to analyze the dual relationship between exports and imports, exports and the exchange rate, imports and the exchange rate by using time series analysis. The results indicate that there is only one causal relationship between exports and imports. The direction is from imports to exports.

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Contemporary Issues in Behavioral Finance
Type: Book
ISBN: 978-1-78769-881-9

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Book part

Marica Mazurek

A review of the marketing and tourism literatures revealed that brand ­reputation is a powerful tool that affects not only the image of the product or destination, but…

Abstract

A review of the marketing and tourism literatures revealed that brand ­reputation is a powerful tool that affects not only the image of the product or destination, but also purchase/visit decisions. The cost of failure in building a product image is high, but not as fatal as in the case of a destination. Moreover, destination branding is considered as a tool of competitive advantage, on the principles of value-added effect and equity criteria. Destination is an amalgam of geographic, economic, demographic, climatic, technological, environmental, political, and demographic factors which influence the competitive advantage, if built effectively.

Anholt (2007) finds evidence of a correlation between the positive experience of visiting a country and positive feeling about its products, its government, its culture, and its people. Deeper understanding of place brands in tourism destinations and reputation might be helpful for improving competitiveness.

One example of implementing a measurement of a country’s performance and reputation is the Anholt-GMI Brand Index, which evaluates the perception of countries as brands and measures the power and appeal of a nation’s brand image. This approach can be helpful to understand behavior and decisions of visitors to the destinations and to improve their competitiveness. The purpose of the chapter will be to explain how brand reputation influences consumers’ behavior.

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Book part

Songül Bilgili Sülük and Kenan Aydin

Introduction – In recent years virtual reality and augmented reality (AR) applications, which are widely used in many sectors, have become important tools in marketing…

Abstract

Introduction – In recent years virtual reality and augmented reality (AR) applications, which are widely used in many sectors, have become important tools in marketing communication. The change and differentiation that takes place in a revolutionary digital environment also affect social change. This change has led to the use of AR applications as a communication tool to affect all decisions of consumers in the purchasing process.

Purpose – The focus of this study is on AR applications using an experimental application in the context of marketing communication with experiential marketing and new technologies.

Method – This experimentation was carried out on over 2 million downloaded mobile applications by Turkish users of an AR brand of wall paint. The experiment included 32 consumers, painters, and interior designers in Istanbul. These formed the groups of the study. The authors aimed to determine whether AR mobile applications are seen differently between these three groups in terms of attitudes and buying intentions vis-a-vis other brands. Thus, the authors will determine the importance of AR applications in marketing communication, satisfaction of experience, and the effect on purchase intention in terms of the different groups. In line with the results, strategies will be presented to marketing practitioners. The literature review of the study enabled the formation and design of the research method and scales.

Findings – The preliminary study revealed that the attitudes toward experiential marketing, brand attitudes, and purchase intention using the AR application were significantly different from the catalog application.

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