Year 2019, Issue VOLUME 27
Date published27.3.2019
Table of content
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Mariyana Bozhinova, Tihomir Lichev, , Pavlin Pavlov, Kristina Georgieva
MODERN DIMENSIONS OF THE MANAGEMENT OF TOURIST DESTINATION BULGARIAJEL: L83Summary: The development of tourism is related to the need to manage tourist destinations. Tourist business faces issues related to establishing tourists' preferences and identifying their motives. The solutions are related to the consumer... The development of tourism is related to the need to manage tourist destinations. Tourist business faces issues related to establishing tourists' preferences and identifying their motives. The solutions are related to the consumer behaviour and preferences of the tourists, the resources of the region, the attractiveness of the area, the offered complex product and the organisational precision. The objective of the research is to study empirically the state of tourist destination Bulgaria. Then, based on the results of this research, the authors focus on outlining the existing problems and the complex of strategic management decisions related to the possible prospects for sustainable development of Bulgaria and its establishment as a year-round tourist destination with many natural and anthropogenic features suitable for the development of different types of tourism. The tasks assigned by the authors include: highlighting the features of the tourist destination and its management; revealing the impact of tourism policy on the development of the tourist destination; assessing the state of tourist destination Bulgaria through the prism of tourists and experts from district/municipal administrations and local tourism organisations; formulating proposals to solve the problems concerning the destination through adequate management. A survey questionnaire was administered to collect data from the tourists in the administrative districts of Dobrich, Bourgas, V. Tarnovo, Gabrovo, Plovdiv and Pazardzhik. Representatives of the regional and municipal administrations and associations working on the problems of tourism on the territory of the Republic of Bulgaria were also interviewed. -
Atanaska Reshetkova, Penka Goranova
MEASURING CONSUMER SATISFACTION WITH THE OMNI-CHANNEL EXPERIENCEJEL: Ì31Keywords: omni-channel marketing, consumer satisfaction, omni-channel customer experience, marketing channelsSummary: Most consumer brands today are available in both physical and online stores, and marketing specialists are constantly seeking new ways to contact and engage their customers. More and more companies are trying to adapt to the digital... Most consumer brands today are available in both physical and online stores, and marketing specialists are constantly seeking new ways to contact and engage their customers. More and more companies are trying to adapt to the digital world and create multiple channels to satisfy consumers' requirements for an optimal buying experience. These channels include physical stores, websites, mobile apps, social media and more. The present study presents the results of an empirical study aimed at offering measurement models of consumer satisfaction with and expectation of the omni-channel customer experience. The study has also sought an answer to the question: how much the expectations of the different aspects of omni-channel experience affect the degree of customer satisfaction. The research tasks can be summarized as follows: (1) analysis of scientific literature in the field of omni-channel marketing, customer experience and satisfaction in an omni-channel setting; (2) collection and analysis of data about customer’s expectations and satisfaction with their experience in an omni-channel buying environment, as well as validation of their measurement models and a structural model of their relationship. The partial least squares method has been used in order to test the measurement and structural models. It has been found that customers are satisfied with their omni-channel experience if companies: offer them relevant offers, synchronize their promotions across channels, offer the "Click & Collect" option, integrate data on user devices and enhance the return options for products purchased through different channels. The results also show that only the expectations for integrating data from different devices used by consumers to contact the brand have a small effect on the level of consumer satisfaction -
Milen Mitkov
TRENDS AND CHALLENGES TO MOTOR INSURANCE IN THE CONDITIONS OF DYNAMIC ECONOMIC DEVELOPMENTJEL: G22Summary: The present study focuses on the results of a survey on car insurance in Bulgaria carried out in 2018, under project No.6-2018 at the Institute for Scientific Research. The main objective of the survey is to outline the state of the... The present study focuses on the results of a survey on car insurance in Bulgaria carried out in 2018, under project No.6-2018 at the Institute for Scientific Research. The main objective of the survey is to outline the state of the motor insurance market in Bulgaria after the adoption of the Insurance Code. Emphasis is placed on the state and development of premium income and insurance benefits. The thesis is that motor insurance is a decisive factor for the formation of premium income and the development of insurance companies. The thesis has been proven by solving the following important tasks: - outlinå the state and trends in the development of the insurance market for the period 2005-2017; - outline the state and trends in the development of motor insurance for the period 2005-2017; - outline the relationship between the automotive sector and the motor insurance performance indicators for the period 2005-2017. Based on the study, the following important results were achieved: the rate of growth of premium income and insurance payments on the insurance market lagged behind that of the motor insurance. The pace of development of Casco insurance outpaced the pace of developing Motor Third Party Liability insurance. Proposals were formulated to solve the problems in the research findings. Within the survey period, the average insurance premium on motor insurance was on the increase, as well as the scope of motor insurance. -
Radoslav Yordanov
OPPORTUNITIES FOR INCREASING THE QUALITY OF DATA FROM ONLINE SURVEYSKeywords: Online survey, sample representativeness, survey (response) return rate, factors that increase the survey return rate, Facebook adSummary: The emergence and evolution of Internet and related applications have changed many areas of public life. The methods of gathering marketing information have also changed. Less and less often surveys are printed on paper and are... The emergence and evolution of Internet and related applications have changed many areas of public life. The methods of gathering marketing information have also changed. Less and less often surveys are printed on paper and are conducted in a web environment. The reasons are simple – online surveys are conducted faster and cheaper, they are easy to spread, they offer useful functionalities. A major challenge for marketing researchers is to ensure that online surveys are representative. The main purpose of this study is to examine whether the structure of a sample, drawn from an online survey, corresponds to the structure of the studied aggregation. Another objective of the study is to examine how respondents react to incentives offered for participation in an online survey. This study presents the results of three online surveys. Each survey examines specific aggregation: Facebook page fans; visitors to a web site; population of Bulgaria aged 13-54. Two surveys were conducted through Facebook advertising. One survey was conducted among the visitors of a web site. To compare the sample and general aggregation, we have used χ2 criterion for one sample and Kiril Gatev’s integral coefficient. In the case of studying Facebook page fans, the sample matches the set of variables "sex" and "residence". In order to validate the three samples, the following information sources were used: The National Statistical Institute; Facebook page Insights; Google Analytics reports. In both surveys made via Facebook advertising, a very low cost was obtained for a response. In the survey of site visitors, the cost of a response is practically zero. To test how incentives affect respondents' activity, two types of prizes are offered – USB Flash memory stick (3 pcs.) and External hard disk drive (2 pcs.). In this study, we have found that the incentives offered do not increase respondents’ responsiveness to a degree justifying the costs of purchasing and delivering the prizes. -
Borislav Borisov, Margarita Bogdanova, Hristo Sirashki, Evelina Parashkevova Velikova
TERRITORIAL DIVISION OF BULGARIA - PROBLEMS AND PERSPECTIVESSummary: The new territorial division is one of the hottest topics in the country's regional policy. It is not accidental that they call it Pandora's box because regional and local authorities have issues related to Cohesion Policy... The new territorial division is one of the hottest topics in the country's regional policy. It is not accidental that they call it Pandora's box because regional and local authorities have issues related to Cohesion Policy instruments and their regional impact, which is difficult to be objectively assessed. The objective of the study is to analyze the strengths and weaknesses of the different scenarios for a new territorial division of the country, to identify those that are most appropriate to the purposes of sustainable and balanced development and to formulate target-oriented development policies.The research thesis is that decisions for territorial division should be based on in-depth research with appropriate scientific tools, the results of which are considered to be objective criteria when defining the boundaries of territorial units. The tasks of the survey are: study of the legal framework of the territorial division in the EU and in the country; GAP analysis of existing territorial zoning, incl. asymmetries between existing planning regions; comparative analysis of options for a new territorial division; developing targeted development policies for the regions. All scheduled tasks are met. Five scenarios have been analyzed and a variant for territorial division is presented, which corresponds to the legislative framework and specifics in the country despite some weaknesses. Among the most important conclusions is the need to reach a political consensus on the balanced sustainable development of the country, which should be considered a medium and long-term priority objective. -
Polya Angelova, Margarita Shopova, Tihomir Varbanov, Jordan Atanasov Mollov, Ivanka Tsvetanova
MEASURING POVERTY IN BULGARIA: STATISTICAL ASPECTSKeywords: poverty and social exclusion, statistical information, indicators, statistical methods of analysis, trendsSummary: Fighting poverty and social exclusion is among the biggest issues of modern social development and a priority of the social policy at both national and European level. The main goal of this paper is to explore the statistical... Fighting poverty and social exclusion is among the biggest issues of modern social development and a priority of the social policy at both national and European level. The main goal of this paper is to explore the statistical dimensions of poverty in Bulgaria via theoretical justification and empirical analysis of the level, dynamics and determining factors of poverty for the period 2008–2017. The research thesis of the study is that the Gini coefficient and the multiple binary logistic regression models are appropriate analytical tools for analyzing the relationships and identifying the part of the population that is at risk of poverty and social exclusion. In this paper, we present the conceptual basis of poverty as a subject of the statistical analysis. We clarify the organizational and methodological aspects of the data provision. We have performed empirical analysis of the dynamics and factor relationships of poverty in Bulgaria on the basis of the statistical information, obtained from NSI and Eurostat. We have developed multiple regression models and estimated the socio-demographic conditions of poverty. The main results of the study can be summarized in several areas. The application of the statistical approach is a necessity for identifying the level and the factor relationships of poverty. The quantitative measure of poverty is based on comprehensive statistical information that is collected in accordance with the Eurostat methodology and adapted at a national level by the NSI. The dynamics of the Gini coefficient reveals that income inequality of the population is rising. The multiple logistic regression model states that the impact of the variables “gender”, “age” and “region” are statistically significant. The derived probabilities and odds ratios can be used in developing policies for poverty reduction. -
Zoya Ivanova
STUDYING THE COUNTERPARTY RISK IN INDUSTRIAL ENTERPRISES (ALONG THE LINES OF THE BREWING INDUSTRY)Keywords: counterparties, counterparty risk, breweries, counterparty risk profile, risk circumstances and situationsSummary: The purpose of the present study is to investigate the manifestation of counterparty risk in the operation of Bulgarian breweries and to highlight specific business solutions and practices for its effective management. In this... The purpose of the present study is to investigate the manifestation of counterparty risk in the operation of Bulgarian breweries and to highlight specific business solutions and practices for its effective management. In this regard, the following tasks are formulated and implemented: studying and summarizing the theoretical formulations of counterparty risk in industrial enterprises; analyzing and evaluating the current state and identifying the development trends of the brewing industry in the European Union and in Bulgaria, in particular; investigating the risky circumstances and situations arising from the actions and responses of corporate counterparties; summarizing and presenting the results of the conducted empirical survey; highlighting the best practices and initiatives for counterparty risk management in the surveyed business establishments. The main research thesis is that identifying, maintaining and developing partner relationships and interactions with certain counterparties (suppliers, clients, distributors and other physical persons and/or legal entities and the subsequent change in their actions and responses lead to unforeseen and unexpected risk situations in the breweries. As a result of the survey, the study identifies the current situation, the specificity and dynamics in the development of the brewing industry within the European Union and Bulgaria, as well as the bearers of counterparty risk in the brewing enterprises in the country and the most problematic situations and weaknesses in working with them, and outlines the guidelines and priorities for reducing, limiting, avoiding and eliminating the counterparty risk in the surveyed respondents. -
Mihail Chipriyanov, Jadviga Chiburiene, Galina Chipriyanova, Ivan Marinov, Nadezhda Veselinova, Emil Tsanov
LEADERSHIP DEVELOPMENT TOWARDS THE ACHIEVEMENT OF THE OBJECTIVES FOR SUSTAINABLE DEVELOPMENT PURPOSESJEL: M21Summary: Sustainable development and production, economic growth, employment, infrastructure, sustainable management of natural resources, climate changes, etc., are all issues that require solutions and actions which can be achieved under... Sustainable development and production, economic growth, employment, infrastructure, sustainable management of natural resources, climate changes, etc., are all issues that require solutions and actions which can be achieved under the management of responsible young leaders. The objective of the project is to examine the possibilities for developing leadership skills in the achievement of the seventeen Objectives for sustainable development and providing opportunities for: their application in Bulgaria; the improvement of learning content; developing knowledge and skills for leadership and socially responsible management of young people. The tasks are related mostly to a comparative analysis of international and national initiatives, strategic documents, curricula, and good practices for the preparation of leaders who take responsibility for the future, and the formulation of recommendations to the stakeholders for the good world practices that we apply in order to implement them in curricula corresponding to the knowledge required for the preparation of responsible leaders for the realization of the Objectives. The subject of research of this project is the presence/absence of leaders for achieving the Objectives for sustainable development as a result of the training in the fields of Economics and Administration and Management, in the conditions of increasing economic, social, environmental and managerial challenges faced by education and business. The scope of the research is models for preparation of leaders, including knowledge, skills and competences for achieving the Objectives for sustainable development. The leading thesis is that responsible young leaders are a key factor for the achievement of the Objectives for sustainable development horizon 2030. The main conclusions of the research are that the preparation of leaders favours the achievement of the Objectives for sustainable development. The results of the research show that well-prepared and trained leaders are a major factor for the achievement of the goals. -
Karina Sarkisyan Dikova, Borislav Emilov Boyanov
EFFECTS OF EU ENVIROMENTAL REGULATIONS ON THE INTERNATIONAL COMPETITIVENESS OF BULGARIA’S CHEMICAL INDUSTRY ENTERPRISESSummary: The actuality of the study stems from the presence of a limited number of in-depth studies focusing on the effects of the regulations on the international competitiveness of the companies in chemical industry. The aim of this study... The actuality of the study stems from the presence of a limited number of in-depth studies focusing on the effects of the regulations on the international competitiveness of the companies in chemical industry. The aim of this study is to analyze the effects of European policy in the field of environmental protection on the international competitiveness of chemical enterprises in Bulgaria. In order to achieve this goal, the following tasks have been outlined: 1. A theoretical study of the European Union's policy on environmental protection; 2. A theoretical study of the literature covering the impact of environmental regulations on the international competitiveness of companies; 3. Developing an online survey and popularizing the results of the survey; 4. Conducting a survey among the chemical companies in Bulgaria. The main research thesis can be defined as follows: compliance with the three types of regulations, which are examined in this article in the field of environmental protection of the European Union, has a negative impact on the economic development of chemical enterprises in terms of their revenues, costs and international competitiveness. The main conclusion of this study confirms the research thesis that the European Union's regulations have a negative impact on firms in terms of their costs and international competitiveness. -
Ivan Marchevski, Veneta Lyubenova
IMPACT OF CONSUMER PROMOTIONS ON CUSTOMER-BASED BRAND EQUITYJEL: M31Keywords: consumer promotions, monetary and non-monetary promotions, promotion frequency, customer-based brand equity dimensions, structural equation modellingSummary: The present research paper outlines the effects of consumer promotions. Its subject is the type and frequency of effects of consumer promotions on customer-based brand equity dimensions. The leading role of consumer promotions... The present research paper outlines the effects of consumer promotions. Its subject is the type and frequency of effects of consumer promotions on customer-based brand equity dimensions. The leading role of consumer promotions within the communication mix, both nationally and globally, along with the lack of unambiguous evidence about their effect on brand equity as a top intangible asset, underlie the motivation of the current research. The present work aims to confirm the research thesis that consumer promotions can generate both positive and negative effects on customer-based brand equity depending on their type and frequency. The negative effects of monetary promotions, the positive effects of non-monetary promotions and promotions frequency on perceived quality and brand loyalty are estimated by structural equation modelling and finite mixture approach. The segmentation analysis provides estimates of the effects according to the degree of brand loyalty. According to the results, monetary promotions are more appropriate for the non-loyal segment, while non-monetary promotions are more appropriate for the loyal segment. -
Rositsa Koleva, Polya Angelova, Galina Zaharieva, Stela Kasabova, Galya Asenova Kusheva, Alexandrina Alexandrova
SOCIO-ECONOMIC DEVELOPMENT OF THE BULGARIAN DANUBE REGION – TRENDS AND PROSPECTSKeywords: regional development, economy, labour market, demographic situation, education, poverty, trendsSummary: The aim of this research paper is to examine and analyse the trends and prospects in the socio-economic development of the Bulgarian Danube region in the period between 2010 and 2017. The thesis of the paper is that, because of the... The aim of this research paper is to examine and analyse the trends and prospects in the socio-economic development of the Bulgarian Danube region in the period between 2010 and 2017. The thesis of the paper is that, because of the changes that the socio-economic development of the Bulgarian Danube region has undergone, there are clear trends and considerable potential for progress. The objectives of the research are: 1. To examine the economic development of the districts in the Bulgarian Danube region. 2. To identify major demographic issues in the Bulgarian Danube region. 3. To assess the labour market in the districts in the Bulgarian Danube region. 4. To analyse the social development in the districts in the Bulgarian Danube region. 5. To study the level of poverty in the Bulgarian Danube region, its current condition and trends in its development. The main conclusion of the practical research we have conducted is that unfavourable trends in the demographic development of the administrative districts in the Bulgarian Danube region, increasing unemployment and reducing the average wage in the sectors of the social sphere are the result of both the natural population mobility and migration processes and the economic situation in the country. The poverty level in the region is close to the average poverty level for the country, yet, the specific features and the dynamics of its development require a differentiated approach in order to cut poverty and boost economic security at a regional level. -
Lyubka Ilieva
BENEFITS FOR TOURISM ENTERPRISES FROM THEIR ISO 9001 CERTIFICATIONJEL: L83Summary: Globalization and free movement of goods and services put new opportunities for Bulgarian businesses to achieve a competitive advantage based on quality. The study of this problem in the economic practice is especially relevant,... Globalization and free movement of goods and services put new opportunities for Bulgarian businesses to achieve a competitive advantage based on quality. The study of this problem in the economic practice is especially relevant, considering the predominance of the service sector in the national economy and the complexity of maintaining a consistent quality of services. The main objective of the present study is to highlight the key benefits of the business standard and the relative advantages it can bring to tourism businesses, based on a retrospective and situational analysis of ISO 9001 certification. In order to achieve this goal, the following research tasks are solved: study of the distribution of ISO 9001 standard by economic sectors; analysis of the benefits from introduction of the standard for Bulgarian enterprises; presentation of the main tools for ensuring the quality of tourist services; exploiting the potential benefits of ISO 9001 certification for tourism business. The results of the study show that ISO 9001 is the most common among ISO certification standards; it is a clearly recognizable sign of quality among businesses; it is adapted for every business; brings real benefits to organizations; can be applied in the tourism business. The results obtained from the study prove the author's thesis that certification under the most common international standard provides a number of business benefits that can also be used in the tourism business. -
Zdravko Lyubenov, Ivaylo Petrov, Diana Lachezarova Eftimova, Hristina Venelinova, Kostadinka Shumanova
CHALLENGES TO INTERNATIONAL BUSINESS IN THE EUROPEAN UNIONSummary: The technical and economic paradigm of the information age since the beginning of the 21st century has led to new structures and processes in the international business in the European Union. In the economic sense, this is a... The technical and economic paradigm of the information age since the beginning of the 21st century has led to new structures and processes in the international business in the European Union. In the economic sense, this is a prerequisite for deepening the division of labour, increasing its productivity and expanding the sphere of the use of capital. The consequences for the European Union concern all the enterprises on the path to internationalization. We believe that the challenges to them are related to the changes imposed by modern information and communication technologies and the realities of the new millennium. The purpose of this paper is to present the trends and the challenges in areas important for the international development of companies in the European Union that are affected by the modern changes, namely: energy as the basis for the development of the industries that have directed their efforts abroad; international investment as an important factor for a country's prosperity and an increase in exports and the labour market, providing the necessary human resources for the success of internationalizing business organizations. This purpose should be achieved by solving the research tasks related to revealing the latest theoretical formulations on the subject under consideration and highlighting the trends in the studied areas. The main research thesis is that the knowledge gained in the study of the fields important for the international development of the European Union companies: energy; foreign direct investment and the labour market can be seen as a technical, economic, managerial and, above all, strategic instrument aimed at maintaining and enhancing the national and international competitiveness of international business organizations and the achievement of economic growth in each member-state and the whole Union. As a result of the research, we have come to the conclusion that changes require action in order to adapt to the dynamics caused by a number of factors: technological, economic, political, socio-demographic and psychological factors. Using all provided opportunities can foster the prosperity of businesses abroad, economies of the countries and the industry of the European Union as a whole.