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    The Usefulness of Marketing Strategies in a Regulated Market: Evidence from the Spanish Tobacco Market
    (Technická Univerzita v Liberci, ) Almeida, Alejandro; Galiano, Aida; Golpe, Antonio A.; Martín Álvarez, Juan Manuel; Ekonomická fakulta
    This paper outlines possible useful marketing strategies for companies to develop in a regulated market. The empirical analysis aims to highlight whether companies can use marketing strategies to create competitive advantages and scale positions in sales leadership once regulation policies are introduced. To this end, we apply two econometric approaches to sales variables for 138 best-selling cigarette brands: the Bass Model (1969) to estimate the parameters that determine the way clients adopt, and the methodology proposed by Hartigan and Wong (1979) for a further cluster analysis that groups brands. The empirical results suggest that restrictions on demand introduced to the Spanish tobacco market during the years 2005 and 2006, have generated a new scenario in which innovation parameters have no effect on the process of adoption. Therefore, the imitation coefficient is the parameter which makes discrimination between brands possible, which demonstrates the existence of heterogeneity among brands based only on recommendation. The results show the inability of direct marketing strategies to create advantages and scale positions in sales leadership after the introduction of regulation policies, however companies have other marketing options such as imitation among clients and these have proven to be effective since imitation shows heterogeneous behaviour among brands across the diffusion process. This has implications that should be taken into account in markets which are on the verge of being regulated, specifically the modification of marketing strategies if the intention is to lead and scale position in a regulated market. In particular, in the case of Spain, policymakers must acknowledge that the measures implemented in law 28/2005 have had an effect on marketing strategies by cancelling, in practical terms, the diffusion of brands based on innovation and homogenizing the diffusion process based on direct marketing.
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    Perceptions of Personalization in Company-consumer Interactions on Social Network: Experiment Conducted in the Czech Republic
    (Technická Univerzita v Liberci, ) Eger, Ludvík; Komárková, Lenka; Zákružná, Veronika; Ekonomická fakulta
    Social media has revolutionized the way in which organizations communicate with their customers and stakeholders. Therefore, understanding the characteristics that influence the interactivity and the relationship between an organization and its page visitors is essential for the capability of an organization ability to respond to the current and potential customers on social networking sites in an appropriate manner. The research investigates how companies using brand communities on Facebook influence consumers’ intention to purchase through online interactivity, responsiveness, and personalization. In an online experiment, participants viewed selected records of communication with customers from companies on Facebook pages that differed as to whether and how specifically the companies responded to their consumers. The results were obtained using mediation analyses. These indicate that perceptions of company responsiveness and personalization, based on existing consumer interactions on a Facebook page, influence how participants rated the company, the quality of their own potential company interactions, and the likelihood of them purchasing products from the company in future. The findings of this research also support the assertion that social media has an impact on brand communities as a platform on which consumers interact. Additionally, eye tracking was used to collect data about customers’ activities that assist in understanding how people acquire information from web pages. The research provides a better understanding of which distinct components of a message meaningfully influence perceptions of interactivity. The findings show that marketers should focus on customer complaints as this component of the messages on social media influences the viewer’s visual search. To test other cultural contexts and for further validation of identified relationships, future research could be conducted globally.
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    The GDPR at the Organizational Level: A Comparative Study of Eight European Countries
    (Technická Univerzita v Liberci, ) Zanker, Marek; Bureš, Vladimír; Cierniak-Emerych, Anna; Nehéz, Martin; Ekonomická fakulta
    The General Data Protection Regulation, also known as the ‘gold standard’ or the ‘Magna Carta’ of cyber laws, is a European regulation that deals with rights in the area of privacy and focuses on data collection, storage and data processing. This manuscript presents the results of investigation in the business sphere from eight countries of the European Union. The research focused on awareness of the GDPR, costs associated with the GDPR, number of trainings, how data are secured and subjective evaluation. The questionnaire was used for data collection. The results show that the majority of employees concerned about the GDPR are able to define the GDPR correctly (64%). The correct identification of personal data is in 95% of cases. The vast majority of respondents (94%) assign the right to personal data protection to the GDPR. Most employees are trained in the GDPR once (46%) or twice (45%). Subsequently, the differences between these countries in some areas of the questionnaire survey were examined. For this purpose, Welch ANOVA with post-test Tukey HSD or Kruskal-Wallis test were used. As a result, knowledge about the personal data do not vary significantly between the countries. In the area of rights, the countries are not again statistically different. As for the number of security countries, statistics do not differ significantly. The subjective assessment of the GDPR is different across the countries. The GDPR is rated worst by companies in the Czech Republic and Slovakia. On the contrary, the GDPR is best perceived by companies in France and the United Kingdom.
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    The Impact of Social Media on Sales Promotion in Entertainment Companies
    (Technická Univerzita v Liberci, ) Štreimikienė, Dalia; Mikalauskienė, Asta; Sturienė, Urtė; Kyriakopoulos, Grigorios L.; Ekonomická fakulta
    Social networks including various social media are one of the main online marketing tools that help to achieve marketing aims of the company. Most of social media overlap and have more than one characteristic, aim or purpose. It should be noted that interaction, user-friendliness, openness, freedom and real time are the main features of all social media. When starting to discuss sales promotion of a company on social media, the concept of social commerce becomes inevitable. Taking into account current trend of expansion of internet marketing because it unites the biggest number of users and has the means to implement different aims of the companies, it is necessary explore the impact of social media on sales growth in specific sectors. The paper analyses the impact of social media for sales promotion in entertainment sector. During the quantitative research, 385 respondents were surveyed. The questionnaire of the quantitative research has been prepared based on the marketing communication model for social media used by entertainment companies. The questionnaire included closed type of questions, most of them are provided in Likert scale. The empirical study found that elements (promotion of sales increase; brand strengthening), maintaining connections with present and potential company’s clients that are used by the entertainment companies on social media help to promote sales with users’ engagement. Regular communication of entertainment companies on social media has a positive impact on sales, because users tend to follow such type of accounts actively. The study emphasised the main elements to be applied by the entertainment companies using social media. Therefore, the regular communication and use of influencers are highly recommended for sales promotion of companies. It is also important to stress that companies are advised to communicate regularly, as regularity in communication is one of the most important drivers of sales promotion.
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    Intangible Assets as Financial Performance Drivers of IT Industry: Evidence from an Emerging Market
    (Technická Univerzita v Liberci, ) Radonić, Milenko; Milosavljević, Miloš; Knežević, Snežana; Ekonomická fakulta
    In the past few decades, IC has been viewed as a crucial factor for improved financial performance of IT companies. Globally, the IT industry has shown positive trendlines and the tremendous importance of intangible resources as part of intellectual capital. Intellectual capital per se may not be a novel topic in the IT industry. Nonetheless, this paper focuses on determining which type of intellectual capital is paramount for financial success, which has remained an open puzzle. The aim of this paper is to analyse the human, relational, structural and innovation capital of IT companies and to measure their impact on financial performance. Moreover, the authors have analysed the impact of the intellectual capital elements on several key performance indicators as the most frequently used in these kinds of studies. In order to address this aim, the study collected primary data from 101 respondents – business owners, managers and experts from a rapidly growing IT ecosystem in South-East Europe. Most research has focused on developed countries for addressing similar topics. Therefore, the authors call out for additional research of this topic in other emerging and developing environments. The findings of this study indicate a positive effect of intellectual capital on business performance. This study raises awareness among business experts in the field of intellectual capital, and supports decision-making through the concept of identifying, managing and analysing intellectual capital and its effect on overall business results. Even though the IT industry has become global, this study draws exceptional attention to the interplay between IC and financial performance in a developing IT ecosystem setting.