Today, capital markets are unstable; people lose their confidence in financial investments. Inves... more Today, capital markets are unstable; people lose their confidence in financial investments. Investing in art represents an alternative to the recovery of financial funds and brings also other benefits (e.g. aesthetic experience, the pleasure of art). In recent years, investment in art has become a worldwide trend and also in Slovakia more and more people begin to perceive art as an investment. But it also has specific features, particularly in the sphere of marketing mix. From the whole range of arts, we focused on investments in the visual arts; we have identified the level of investment in this commodity, factors determining this area, and specifics of marketing concerning the art trade.
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies, 2021
Research question: This study aims to propose and empirically examine a relationship quality mode... more Research question: This study aims to propose and empirically examine a relationship quality model in a grocery retail setting in Serbia. Motivation: Whereas relationship quality has been extensively studied in B2B settings and in developed economies, far less research attention has been devoted to the formation and effects of relationship quality in B2C exchange relations in developing economies. This especially holds true for Eastern Eupean emerging economies and the present research aims to fill this gap. Idea: Building upon previous research in service settings, this study proposes customer orientation as an antecedent to relationship quality, comprising relationship satisfaction, customer trust and commitment to a retailer, and attitudinal and behavioural loyalty as consequences of relationship quality. Data: The study has been performed on a convenience sample of 453 grocery retail customers in Serbia, by means of structured questionnaire. Tools: Upon supporting constructs’ va...
New Trends and Issues Proceedings on Humanities and Social Sciences, 2017
Government interventions are contradictory theme in economic science. Subsidies and price control... more Government interventions are contradictory theme in economic science. Subsidies and price control in electricity production and consumption are justified to " treat " negative externalities such as climate changes, security of supplies, innovation or unemployment issues. Many authors contradict such a treatment and prove to be ineffective. Our main focus in this article is to analyze interventions and their consequences in electricity market in Slovakia. We refer to claim of Mises, that intervention produces unintended consequences, leads to escalating price fixing and at the end it eliminates the market altogether. We examined intention, goals and tools of Slovak regulatory agency and proved those are unduly determined and will not lead to desired ends. We have proved that real outcomes of this policy had led to unintended consequences such as excess of production facilities, declining prices of electricity, decreased profitability of all producers and exit from market of marginal production sources that are not subsidized. We applied mainly Austrian economic school methods, based on methodological individualism, dualism, apriorism and deductive logic, supplemented by descriptive statistics, comparative and classification analysis.
This study aims to examine relationships among higher education service quality and student satis... more This study aims to examine relationships among higher education service quality and student satisfaction and their relatedness to students’ behavioural intentions. Slovak higher education setting has provided a framework to this study. Structural equation modelling, using LISREL 8.80, has been performed on student survey data and indicated that both higher education service quality and satisfaction are important determinants of students’ behavioural intentions. However satisfaction mediates the effect of service quality and exerts more significant impact on behavioural intentions. Findings of this study indicate that university administrators should pay special attention to satisfying existing students in order to motivate them to recommend the institution to prospective students and enrol higher levels of study within the same faculty. Implications of the study, limitations and directions for future research have been discussed.
In increasingly competitive business environment the issue of service customer loyalty, its deter... more In increasingly competitive business environment the issue of service customer loyalty, its determinants and their relative impact on customers' future behavior have been gaining rising prominence among Services Marketing researchers and practitioners. Despite ample empirical evidence pointing out to service quality, customer satisfaction, perceived value as the main drivers of customer loyalty and numerous examinations of their interrelatedness and relative impact on customer behavioral intentions, vast majority of previous studies have been conducted in the U.S. and western country context, whereas developing economies have largely been neglected. This especially pertains to Serbia and its increasingly competitive retailing industry. Therefore the overriding objective of this paper is to examine complex interrelationships among service quality, satisfaction, value and their relative impact on customer behavioral intentions in Serbian grocery retail context. In line with freque...
This article deals with the competitiveness of allocating resources in a free market economy that... more This article deals with the competitiveness of allocating resources in a free market economy that is in contrast to bureaucratic allocation in the form of subsidies to entrepreneurs. We reviewed these two processes and made an evaluation of the results. By applying Ludwig von Mises’ theorem of economic calculation, it was demonstrated that governments rely on the subsidized entrepreneur’s market and believe it to be more competitive than classical market entities that are more successful in resources allocation based on free enterprise.
This paper examines the problem of a marketing audit. The goal of the article is a scientifi c re... more This paper examines the problem of a marketing audit. The goal of the article is a scientifi c refl ection on the model presentation of a marketing audit. Review of the marketing literature on a marketing audit presents various conceptual, structural or process models in a historical perspective. Yet, these proposals did not play a role signifi cant enough to make auditing a widely used marketing control tool. That is why, authors presents an outline of the proprietary marketing audit model (in a process approach), which can stimulate its popularization in marketing management practice.
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2018
In an increasingly competitive festival market, identifying visitors' motivation has been recogni... more In an increasingly competitive festival market, identifying visitors' motivation has been recognized as a key prerequisite for satisfaction, which is expected to lead to positive referrals and future visitations of an event. The objective of this study is to identify the main factors which motivate visitors to attend traditional cultural events in Slovakia and to examine their viability as the basis for festival market segmentation. Building upon previous research on festival attendees' motivation, a set of potential drivers of visitors' behavior has been identified and by the application of exploratory factor analysis further refined into the following six domains of visitors' motivation: new and different experience, friends and family togetherness, reconnection with culture and tradition, socialization, recover equilibrium and change from everyday life. The application of k-means clustering on the basis of motivational domains indicated four clusters of festival visitors and provided evidence in support of suitability of visitors' motivation as the basis for festival market segmentation. Findings of the study have been discussed, limitations are noted and directions for future research are highlighted.
Limited efforts have been made to date to examine the determinants of visitors' behavioural inten... more Limited efforts have been made to date to examine the determinants of visitors' behavioural intentions in the context of cultural festivals in Central Europe. The present study aims to fi ll this void in literature by proposing a conceptual model incorporating the festival setting that has thus far scantly examined perspective of the fulfi lment of motives and a subjective well-being as a consequence of a festival experience. The application of structural equation modelling (SEM) on a sample of 770 festival visitors in Slovakia provided support for the concept of visitors' motivation as a higher-order construct and its direct relatedness to perceived value of a festival experience and visitors' satisfaction. Both satisfaction and visitors' subjective well-being emerged as direct antecedents to visitors' behavioural intentions and mediators of the impact of perceived value on visitors' behavioural intentions. Implications of the study are provided and limitations and directions for future research are highlighted.
information related to the opportunities Slovak enterprises have to use the results of the assess... more information related to the opportunities Slovak enterprises have to use the results of the assessment in further development of skills and competences of their employees, and to ensue competitiveness of Slovak enterprises in the global world of the 21 st century.
The paper presents a marketing audit as a factor of company's growth and future success. The ment... more The paper presents a marketing audit as a factor of company's growth and future success. The mentioned marketing activity is becoming a new trend in managing the business. It can help various types of companies to review their marketing structures and therefore it can contribute to the rejuvenation of the overall business and to the improvement of not just marketing but also overall performance of the company. The main aim of this paper is to define and establish preconditions for the successful implementation of marketing audit to marketing management of Slovak companies. The paper presents the results of own research conducted through the Delphi method with a panel of experts from the area of marketing and marketing audit. The research was carried out in two rounds and a questionnaire was selected as a research tool. Through the Delphi method we were able to obtain views and opinions of experts on the issue of marketing audit. Based on conducted research, the paper states the main factors influencing the efficiency and the results of marketing audit and also the main barriers that have an impact on the use of the marketing audit in the practice of companies. In conclusion, the paper presents the main assumptions and conditions for the successful implementation of the marketing audit into the practice of companies operating in the Slovak market.
The paper addresses the issue of higher education service quality measurement and stresses the ne... more The paper addresses the issue of higher education service quality measurement and stresses the need of devising psychometrically as well as diagnostically sound measurement instruments, suitable to the context being investigated. The study builds upon the SERVQUAL scale, the inventory successfully tried and tested across a broad spectrum of service industries. Notwithstanding significant resemblance with the original five dimensions of service quality, research findings indicate six-dimensional structure of the construct of higher education service quality. Study performed on a sample of Engineering Management students reveals perceptions falling short of expectations across all of the determinants of service quality. The largest negative gap between students’ perceptions and expectations has been discovered concerning the potential for future career development, whereas research findings indicate the same dimension to be the most important predictor of students’ future behavioral i...
Total Quality Management & Business Excellence, 2013
The aim of the study is to investigate the relationships among atmospherics, service quality, cus... more The aim of the study is to investigate the relationships among atmospherics, service quality, customer satisfaction and their impact on behavioural intentions in a retail setting in an emerging economy. Based on a comprehensive literature review, an integrative framework including the relationships among the determinants of customers' behavioural intentions has been proposed and examined on a sample of grocery retail customers in Serbia. Structural equation modelling, with maximum likelihood as the method of parameter estimation, has been applied to test hypothesised relationships. The results of the study point to the indirect relatedness of service quality to customers' behavioural intentions, mediated via satisfaction. Although the dimensions of atmospherics do not impact behavioural intentions directly, perceptions of atmospherics significantly shape customers' evaluation of service quality. Implications of the study have been discussed and limitations and suggestions for future research have been highlighted.
Team Performance Management: An International Journal, 2009
Purpose – The purpose of this paper is to examine the impact of adult attention deficit on team m... more Purpose – The purpose of this paper is to examine the impact of adult attention deficit on team members, the relationships between team members, the task performance dynamics within teams and team member performance. Design/methodology/approach – A total of 304 management students working in self managing project teams completed measures of adult attention deficit, difficulty with necessary tasks, general independence,
Research background: Globalization - the process of increasing social, cultural, political, and e... more Research background: Globalization - the process of increasing social, cultural, political, and economic interdependence - has resulted in several changes in business environment. Global market opportunities and threats are major effects of globalization; they refer to the increases in market potential, trade and investment potential and resource accessibility. Global market threats refer to the increases in the number and level of competition, and the level of uncertainty. Global competitors can have the impact on bankruptcy of local SMEs in less developed or smaller countries. Are globalization in economics and company bankruptcy related? In the past, the cause of bankruptcy was mainly in the company itself. The development of globalization has brought a number of positive as well as a number of negative consequences for several areas of society. Is one of the negative effects of globalization the bankruptcy of companies? Purpose of the article: The paper presents a classification...
Today, capital markets are unstable; people lose their confidence in financial investments. Inves... more Today, capital markets are unstable; people lose their confidence in financial investments. Investing in art represents an alternative to the recovery of financial funds and brings also other benefits (e.g. aesthetic experience, the pleasure of art). In recent years, investment in art has become a worldwide trend and also in Slovakia more and more people begin to perceive art as an investment. But it also has specific features, particularly in the sphere of marketing mix. From the whole range of arts, we focused on investments in the visual arts; we have identified the level of investment in this commodity, factors determining this area, and specifics of marketing concerning the art trade.
Management:Journal of Sustainable Business and Management Solutions in Emerging Economies, 2021
Research question: This study aims to propose and empirically examine a relationship quality mode... more Research question: This study aims to propose and empirically examine a relationship quality model in a grocery retail setting in Serbia. Motivation: Whereas relationship quality has been extensively studied in B2B settings and in developed economies, far less research attention has been devoted to the formation and effects of relationship quality in B2C exchange relations in developing economies. This especially holds true for Eastern Eupean emerging economies and the present research aims to fill this gap. Idea: Building upon previous research in service settings, this study proposes customer orientation as an antecedent to relationship quality, comprising relationship satisfaction, customer trust and commitment to a retailer, and attitudinal and behavioural loyalty as consequences of relationship quality. Data: The study has been performed on a convenience sample of 453 grocery retail customers in Serbia, by means of structured questionnaire. Tools: Upon supporting constructs’ va...
New Trends and Issues Proceedings on Humanities and Social Sciences, 2017
Government interventions are contradictory theme in economic science. Subsidies and price control... more Government interventions are contradictory theme in economic science. Subsidies and price control in electricity production and consumption are justified to " treat " negative externalities such as climate changes, security of supplies, innovation or unemployment issues. Many authors contradict such a treatment and prove to be ineffective. Our main focus in this article is to analyze interventions and their consequences in electricity market in Slovakia. We refer to claim of Mises, that intervention produces unintended consequences, leads to escalating price fixing and at the end it eliminates the market altogether. We examined intention, goals and tools of Slovak regulatory agency and proved those are unduly determined and will not lead to desired ends. We have proved that real outcomes of this policy had led to unintended consequences such as excess of production facilities, declining prices of electricity, decreased profitability of all producers and exit from market of marginal production sources that are not subsidized. We applied mainly Austrian economic school methods, based on methodological individualism, dualism, apriorism and deductive logic, supplemented by descriptive statistics, comparative and classification analysis.
This study aims to examine relationships among higher education service quality and student satis... more This study aims to examine relationships among higher education service quality and student satisfaction and their relatedness to students’ behavioural intentions. Slovak higher education setting has provided a framework to this study. Structural equation modelling, using LISREL 8.80, has been performed on student survey data and indicated that both higher education service quality and satisfaction are important determinants of students’ behavioural intentions. However satisfaction mediates the effect of service quality and exerts more significant impact on behavioural intentions. Findings of this study indicate that university administrators should pay special attention to satisfying existing students in order to motivate them to recommend the institution to prospective students and enrol higher levels of study within the same faculty. Implications of the study, limitations and directions for future research have been discussed.
In increasingly competitive business environment the issue of service customer loyalty, its deter... more In increasingly competitive business environment the issue of service customer loyalty, its determinants and their relative impact on customers' future behavior have been gaining rising prominence among Services Marketing researchers and practitioners. Despite ample empirical evidence pointing out to service quality, customer satisfaction, perceived value as the main drivers of customer loyalty and numerous examinations of their interrelatedness and relative impact on customer behavioral intentions, vast majority of previous studies have been conducted in the U.S. and western country context, whereas developing economies have largely been neglected. This especially pertains to Serbia and its increasingly competitive retailing industry. Therefore the overriding objective of this paper is to examine complex interrelationships among service quality, satisfaction, value and their relative impact on customer behavioral intentions in Serbian grocery retail context. In line with freque...
This article deals with the competitiveness of allocating resources in a free market economy that... more This article deals with the competitiveness of allocating resources in a free market economy that is in contrast to bureaucratic allocation in the form of subsidies to entrepreneurs. We reviewed these two processes and made an evaluation of the results. By applying Ludwig von Mises’ theorem of economic calculation, it was demonstrated that governments rely on the subsidized entrepreneur’s market and believe it to be more competitive than classical market entities that are more successful in resources allocation based on free enterprise.
This paper examines the problem of a marketing audit. The goal of the article is a scientifi c re... more This paper examines the problem of a marketing audit. The goal of the article is a scientifi c refl ection on the model presentation of a marketing audit. Review of the marketing literature on a marketing audit presents various conceptual, structural or process models in a historical perspective. Yet, these proposals did not play a role signifi cant enough to make auditing a widely used marketing control tool. That is why, authors presents an outline of the proprietary marketing audit model (in a process approach), which can stimulate its popularization in marketing management practice.
Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 2018
In an increasingly competitive festival market, identifying visitors' motivation has been recogni... more In an increasingly competitive festival market, identifying visitors' motivation has been recognized as a key prerequisite for satisfaction, which is expected to lead to positive referrals and future visitations of an event. The objective of this study is to identify the main factors which motivate visitors to attend traditional cultural events in Slovakia and to examine their viability as the basis for festival market segmentation. Building upon previous research on festival attendees' motivation, a set of potential drivers of visitors' behavior has been identified and by the application of exploratory factor analysis further refined into the following six domains of visitors' motivation: new and different experience, friends and family togetherness, reconnection with culture and tradition, socialization, recover equilibrium and change from everyday life. The application of k-means clustering on the basis of motivational domains indicated four clusters of festival visitors and provided evidence in support of suitability of visitors' motivation as the basis for festival market segmentation. Findings of the study have been discussed, limitations are noted and directions for future research are highlighted.
Limited efforts have been made to date to examine the determinants of visitors' behavioural inten... more Limited efforts have been made to date to examine the determinants of visitors' behavioural intentions in the context of cultural festivals in Central Europe. The present study aims to fi ll this void in literature by proposing a conceptual model incorporating the festival setting that has thus far scantly examined perspective of the fulfi lment of motives and a subjective well-being as a consequence of a festival experience. The application of structural equation modelling (SEM) on a sample of 770 festival visitors in Slovakia provided support for the concept of visitors' motivation as a higher-order construct and its direct relatedness to perceived value of a festival experience and visitors' satisfaction. Both satisfaction and visitors' subjective well-being emerged as direct antecedents to visitors' behavioural intentions and mediators of the impact of perceived value on visitors' behavioural intentions. Implications of the study are provided and limitations and directions for future research are highlighted.
information related to the opportunities Slovak enterprises have to use the results of the assess... more information related to the opportunities Slovak enterprises have to use the results of the assessment in further development of skills and competences of their employees, and to ensue competitiveness of Slovak enterprises in the global world of the 21 st century.
The paper presents a marketing audit as a factor of company's growth and future success. The ment... more The paper presents a marketing audit as a factor of company's growth and future success. The mentioned marketing activity is becoming a new trend in managing the business. It can help various types of companies to review their marketing structures and therefore it can contribute to the rejuvenation of the overall business and to the improvement of not just marketing but also overall performance of the company. The main aim of this paper is to define and establish preconditions for the successful implementation of marketing audit to marketing management of Slovak companies. The paper presents the results of own research conducted through the Delphi method with a panel of experts from the area of marketing and marketing audit. The research was carried out in two rounds and a questionnaire was selected as a research tool. Through the Delphi method we were able to obtain views and opinions of experts on the issue of marketing audit. Based on conducted research, the paper states the main factors influencing the efficiency and the results of marketing audit and also the main barriers that have an impact on the use of the marketing audit in the practice of companies. In conclusion, the paper presents the main assumptions and conditions for the successful implementation of the marketing audit into the practice of companies operating in the Slovak market.
The paper addresses the issue of higher education service quality measurement and stresses the ne... more The paper addresses the issue of higher education service quality measurement and stresses the need of devising psychometrically as well as diagnostically sound measurement instruments, suitable to the context being investigated. The study builds upon the SERVQUAL scale, the inventory successfully tried and tested across a broad spectrum of service industries. Notwithstanding significant resemblance with the original five dimensions of service quality, research findings indicate six-dimensional structure of the construct of higher education service quality. Study performed on a sample of Engineering Management students reveals perceptions falling short of expectations across all of the determinants of service quality. The largest negative gap between students’ perceptions and expectations has been discovered concerning the potential for future career development, whereas research findings indicate the same dimension to be the most important predictor of students’ future behavioral i...
Total Quality Management & Business Excellence, 2013
The aim of the study is to investigate the relationships among atmospherics, service quality, cus... more The aim of the study is to investigate the relationships among atmospherics, service quality, customer satisfaction and their impact on behavioural intentions in a retail setting in an emerging economy. Based on a comprehensive literature review, an integrative framework including the relationships among the determinants of customers' behavioural intentions has been proposed and examined on a sample of grocery retail customers in Serbia. Structural equation modelling, with maximum likelihood as the method of parameter estimation, has been applied to test hypothesised relationships. The results of the study point to the indirect relatedness of service quality to customers' behavioural intentions, mediated via satisfaction. Although the dimensions of atmospherics do not impact behavioural intentions directly, perceptions of atmospherics significantly shape customers' evaluation of service quality. Implications of the study have been discussed and limitations and suggestions for future research have been highlighted.
Team Performance Management: An International Journal, 2009
Purpose – The purpose of this paper is to examine the impact of adult attention deficit on team m... more Purpose – The purpose of this paper is to examine the impact of adult attention deficit on team members, the relationships between team members, the task performance dynamics within teams and team member performance. Design/methodology/approach – A total of 304 management students working in self managing project teams completed measures of adult attention deficit, difficulty with necessary tasks, general independence,
Research background: Globalization - the process of increasing social, cultural, political, and e... more Research background: Globalization - the process of increasing social, cultural, political, and economic interdependence - has resulted in several changes in business environment. Global market opportunities and threats are major effects of globalization; they refer to the increases in market potential, trade and investment potential and resource accessibility. Global market threats refer to the increases in the number and level of competition, and the level of uncertainty. Global competitors can have the impact on bankruptcy of local SMEs in less developed or smaller countries. Are globalization in economics and company bankruptcy related? In the past, the cause of bankruptcy was mainly in the company itself. The development of globalization has brought a number of positive as well as a number of negative consequences for several areas of society. Is one of the negative effects of globalization the bankruptcy of companies? Purpose of the article: The paper presents a classification...
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Papers by Jaroslav Dado