An objective and data-based market segmentation is a precondition for
efficient targeting in direct marketing campaigns. The role of customer
segments classification in direct marketing is to predict the segment of
most valuable customers who is likely to respond to a campaign based on
previous purchasing behavior. A good-performing predictive model can
significantly increase revenue, but also, reduce unnecessary marketing
campaign costs. As this segment of customers is generally the smallest, most
classification methods lead to misclassification of the minor class. To
overcome this problem, this paper proposes a class balancing approach based
on Support Vector Machine-Rule Extraction (SVM-RE) and ensemble learning.
Additionally, this approach allows for rule extraction, which can describe
and explain different customer segments. Using a customer base from a
company?s direct marketing campaigns, the proposed approach is compared to
other data balancing methods in terms of overall prediction accuracy, recall
and precision for the minor class, as well as profitability of the campaign.
It was found that the method performs better than other compared class
balancing methods in terms of all mentioned criteria. Finally, the results
confirm the superiority of the ensemble SVM method as a preprocessor, which
effectively balances data in the process of customer segments classification
PurposeThis paper seeks to identify the factors that influence the perceptions and attitudes of young people in Montenegro toward organic products.Design/methodology/approachThe results of the research, obtained using the multivariate factor analysis, showed that the vast majority of young consumers identify organic food as healthy and natural and that its higher price is a significant barrier inhibiting their likelihood of purchasing it, along with inaccessibility and the limited options offered.FindingsThe data obtained provides valuable information for managers and decision-makers working in organic food production and sales in Montenegro – a country with the potential to develop in this field.Research limitations/implicationsThe study was carried out in the CEE transition country of Montenegro, with 300 young consumers. Further research is needed to validate the results through longitudinal study.Practical implicationsThe data obtained represents a meaningful contribution to the field of organic food production and sale in Montenegro (which is a country with a lot of potential in this area) and will assist managers and decision-makers in the field.Social implicationUnlike most research that has previously examined issues concerning organic production – such as its standardization, financing, environmental impact, and even its promotion – this paper provides a better understanding of the behavior of young consumers toward organic products in Montenegro by outlining their perceptions and attitudes toward this product category.Originality/valueThis research represents the first academic study of customers' attitudes and perceptions in this area, alongside the main factors affecting the young consumer's choice to purchase organic food in Montenegro.
The aim of this paper is to investigate the impact of sponsorship perceptions and attitudes of sport team fans on their purchasing decision, as well as to investigate the significance of sport sponsorship in promoting socially responsible companies and other sustainable practices in society. This paper gives insight in possibilities and effects of promoting sustainable activities and socially responsible companies, through sport sponsorship, by targeting and educating sport team fans as a very important consumer segment. Data were collected from anonymous respondents who are fans of different sport teams. Attitudes were measured by asking the respondents to rank the statements based on a 5-point Likert scale. In order to analyze the data, structural equation modelling was conducted using R package. Results show that the attitudes towards sponsorship, as well as sponsorship perceptions, have a strong positive impact on the purchasing decisions of consumers, regarding products of sponsors, which enables the creation of a loyal base of fans as consumers. Results also reveal that sport sponsorship can be an effective way of promoting socially responsible companies and sustainable practices, giving an opportunity to create an educated and highly dedicated consumer base. In this way the positive effects of sports and sponsorship are spreading beyond the stadiums and arenas. These findings can help companies that are considering investing in this form of marketing, in adequately selecting and managing the campaign, but also can be very useful for official institutions in their efforts to foster sustainable practices in society. Although the fact that the research was conducted only in Montenegro can be stated as a limitation, it should be noted that this type of research has been done for the first time in this area, which gives special value to the research and increases the importance of its contribution to the existing base of scientific papers in this field.
Sport fi nancing is of great national importance, having in mind that it's recognized as an activity of public interest by the Law. Since most of sport organizations in Montenegro are publicly owned, they are dependent on public fi nancing, which are often scarce and insuffi cient for fulfi lling sport's function in society. Therefore, new sources of fi nancing must be introduced. One of the most common funding systems in Europe includes resources redirected from gambling industry profi ts-taxed by the government. Even though the idea isn't exactly new, it's implemented diff erently in various countries. This paper analyzes current Montenegrin system of sport fi nancing from this source, compares it to other European countries and provides recommendations for its' improvement. Taking into account that most gambling revenues come from sport betting, it would be benefi cial for the society that most of these incomes fi nd their way back to sport. The research results for Montenegro show considerable lagging behind other European countries in terms of sport funding from taxed gambling profi ts. With the share of only 14% of funds allocated to sport from this source there is a plenty of room for Montenegro to improve its sport fi nancing system, which would lead to faster sport development. This share is considerably low, compared to neighboring EU countries such as Croatia's 35% and Slovenia's 80%. With certain improvements and taking into account other countries good practice examples, Montenegrin sport fi nancing system can be considerably improved.
scite is a Brooklyn-based organization that helps researchers better discover and understand research articles through Smart Citations–citations that display the context of the citation and describe whether the article provides supporting or contrasting evidence. scite is used by students and researchers from around the world and is funded in part by the National Science Foundation and the National Institute on Drug Abuse of the National Institutes of Health.