Retail sector has always played and important role in the national economy. Any business is tendet towards satisfaction of consumer desires and needs, albeit profits. In relationships between companies and consumers both sides have their interests. For a company it, primary, is to increase the turnover and make profits, while the consumers may have several goals – to obtain the goods or services, to receive the necessary information and attitude. These consumer benefits are the basis for loyalty. Thus, the aim of the present paper is to research the loyalty formation process and its characteristics in the retail sector.
Retail sector has always played an important role in the Latvian economy. The success of a profitable retail business depends on meeting the needs of buyers and, in the long run, building relationships with the buyer. Process of attracting new buyers always involves spending more money, time and energy. In order for a company to retain existing buyers, it is necessary to develop a set of marketing activities that promote and ensure customer loyalty. The globalization of the market is also having a greater impact on retail companies, which makes them to look for solutions for competitiveness and development. In order to identify factors for competitiveness, the authors of the study have set out to investigate the customer loyalty-formation activities in Latvian retail companies. To reach a goal the authors of the paper will study theoretical basis of loyalty formation employing the monographic or descriptive method, the next step will be analysis of the retail development tendencies in Latvia and loyalty-creation activity level of the Latvian retail companies. This study will give retailers an understanding of the importance of loyalty and the need to build it for the competitiveness of retail businesses. The authors have summarized these theoretical aspects and have defined a common approach to loyalty building and provisions for it. After completing the research, the authors conclude that by understanding the essence and formation of loyalty, the company can manage this process and maybe loyalty can be one of the tools for ensuring competitiveness.
Social entrepreneurs play an important role in the economic and social development of the communities in which they operate. The career aspiration of social entrepreneurs can be encouraged if youths are given early educa-tional exposure when they are young. The purpose of this paper is to work out the proposal for study curriculum in order to include a subject of social entrepreneurship. To attain this aim, the following tasks were put forward: (1) to research literature regarding social entrepreneurship and social entrepreneurship education; (2) to describe the empiri-cal research methodology; (3) to discuss research results; (4) to propose a module for teaching social entrepreneurship to business students. These tasks account for the structure of the article: introduction, literature review, methodology, results and discussion, conclusions and recommendations. The theoretical basis of the current article consists of recent literature on the social entrepreneurship (taking into account Covid-19 circumstances), social entrepreneurship educa-tion, as well as of the legal documents of the Republic of Latvia. The empirical research is bipartite – first, a survey of business students, applying the snowball sampling method, using 5-point Likert scale questionnaire, second, a survey of business school lecturers. The results are interpreted using methods of descriptive and inferential statistics – mean ranking and Kruskal Wallis test. The results of the research have a practical value, as they identify the problematic areas of business education in regard to social entrepreneurship and make it possible to offer a practical solution – an insert module of social entrepreneurship.
The sector of the retail trade has always played a significant role in the Latvian economics. The basis for the retail trade is the satisfaction of consumers' needs and the formation of the long-term relationship. To retain the existing consumers and to attract the new buyers, one of the fundamental tasks is to create the according assortment. The Efficient Consumer Response presupposes not only the new approach in creating the assortment, but also influences all business processes in the enterprise and significantly raises the level of assortment. The purpose of the present study is to analyze the level of the ECR application in the retail enterprises in Latvia. Therefore, there were set the following tasks: a) to characterize the retail trade tendencies in Latvia; b) to research the principles of assortment formation. The research methods applied were the expert interviews and consumers' survey. The key result of the research was: the ECR implementation helps to form the assortment of the retail trade enterprises in more responsive to consumers'' needs way.
Retail trade plays a significant role in the economy of any state. In business, a relationship between the company and the consumer is formed and both sides have their own certain benefits they wish to acquire from this relationship. For the company the main goals are to increase the turnover and gain profit, however, for the consumer aims may vary. In order to attain their goals, being the increased turnover and incoming profit, the companies can use different tools to stimulate the consumer's choice of the product. Sales promotion is exactly what ensures the opportunity for the retailer to attract customers and motivates that particular choice of the purchase, what furthermore ensures competitive advantages over other competitors. The globalization of the market also affects the retailing companies more and more and, therefore, pushes them to find new solutions to ensure their competitiveness and development. To identify the factors that guarantee the competitiveness, the authors have established the research of price discounts as a tool for sales promotion and its effect upon the activity of the retail companies as their research focus. Furthermore, the authors will research the form of sales promotion-theoretical basis of usage of price discounts as a part of marketing communication. Moreover, they will also analyse tendencies of development of retail trade in Latvia, as well as, clarify the consumers' attitudes towards the price discounts and the impact of them on making purchases at retail outlets in Latvia by conducting a consumer survey. This research will offer an understanding about the impact of commodity price rebates on consumer behaviour and point to the specificities of this process in retail to the retail companies. From the scientific point of view in this work the authors have collected the analysed theoretical aspects and have defined a united approach for building up the discount policy for retail businesses. As a result of the research, the authors conclude that by examining consumer attitudes towards the commodity price discounts and their use, companies can manage this process and perhaps it may become one of their tools for maintaining competitiveness.
Abstract. In the contemporary situation of ever-growing market internationalisation, local and global competition different company leadership aspects, especially ethical leadership, gain a special importance. It is possible to say that in theoretical literature, there is more or less consensual agreement upon the meaning of ethical leadership still regarding the evaluation models there are many models. Therefore, the main challenge is to determine the case sensitive model(s) for the industry or the type of business organisation. The goal of the article is to delineate theoretically and to test empirically amongst Latvian retail traders one of the models of evaluation (the one of the Executive Servant Leadership Scale, ESLS). The research questions are (1) What is the ranking of the ESLS first-order factors? and (2) What are the possible problem areas in the ethical leadership as seen by the Latvian retail traders? The authors of the present paper aspire to identify the problem areas out the future lines of investigation. The current research uses the following research methods: the monographic (the literature study related to the concept of ethical leadership and its evaluations models); expert interviews to narrow down the items to be tested; and the survey with the following factor analysis.
The primary goal of retail operations similar to any other business is to make a profit by satisfying consumer needs. To achieve the goal and ensure competitiveness retail enterprises need to carry out their operations as efficiently as possible by applying the latest, most modern work organisation methods. Work efficiency can be achieved by reducing supply chain costs which in turn can be achieved through successful cooperation among all the parties involved. Efficient Consumer Response (ECR) is not just a new approach to process organisation in retail trade but affects all business processes as a whole taking them to a totally new and much higher level, thereby ensuring an increase in customer satisfaction and loyalty levels. The aim of the present research is to review the latest scientific literature on ECR, understand its working principles and carry out a survey of experts in order to ascertain the level of application of ECR in retail enterprises in the Baltic States and put forward recommendations for the enhancement of application of ECR.
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