"Scientific research" Almanac

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  ON-LINE BANKING IN BULGARIA – STATE AND TRENDS

  Banking on an international scale is a continuous process of evolution and improvement. The advent of new information technology in banking institutions affects their activities, both to reduce the costs for collecting, storing, processing and transfering information about transactions and to impose alternative means of access to banking services, ... Banking on an international scale is a continuous process of evolution and improvement. The advent of new information technology in banking institutions affects their activities, both to reduce the costs for collecting, storing, processing and transfering information about transactions and to impose alternative means of access to banking services, one of which is e-banking. The ever-increasing percentage of consumers using electronic banking services confirms the enormous potential of digital technology in the banking sector. This study presents the results of a survey on electronic banking services in Bulgaria as of June 2011.

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  ESTIMATING WILLINGNESS-TO-PAY AND PRICE SENSITIVITY FOR EDUCATIONAL SERVICES USING ADAPTIVE CHOICED-BASED CONJOINT ANALYSIS

  In this study, we present and prove an empirical approach for measuring willingness-to-pay and price sensitivity for educational services (master's programs in economics and management) offered in substitution setting with low visibility of the actual consumer value. Our experiments are based on adaptive choice-based conjoint analysis. We estimate ... In this study, we present and prove an empirical approach for measuring willingness-to-pay and price sensitivity for educational services (master's programs in economics and management) offered in substitution setting with low visibility of the actual consumer value. Our experiments are based on adaptive choice-based conjoint analysis. We estimate willingness-to-pay on an individual level, based on part-worth utility estimates derived using hierarchical Bayesian approach. At the aggregate level, we specify and derive market response functions and thresholds at which price sensitivity changes dramatically. Based on part-worth estimations we build a „market simulator”, based on optimization gradient method. Based on it we found the „optimal” product bundle that maximizes the share of consumers' preferences in two dimensions – institutional and competitive. We found that the present supply of integrated educational services is not relevant to the structure of preferences of the potential students. In terms of financial management of educational institutions, there is considerable potential for optimizing cash flows by rethinking and changing their price policies – from uniform charges for different master’s programs towards nonlinear pricing.

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  STUDY OF THE STATE-OF-THE-ART, POSSIBILITIES AND PROSPECTS OF IMPLEMENTING ELECTRONIC CUSTOMER RELATIONSHIP MANAGEMENT SYSTEMS

  Customer relationship management in financial enterprises is a key strategic factor for their success. In recent years this sector recognizes the importance of the Internet as a unified platform for doing business and as a main communication environment. Online banking, online insurance, personal customer service of various health, pension and ... Customer relationship management in financial enterprises is a key strategic factor for their success. In recent years this sector recognizes the importance of the Internet as a unified platform for doing business and as a main communication environment. Online banking, online insurance, personal customer service of various health, pension and insurance funds is impossible without a fully integrated electronic customer relationship management system (e-CRM System). The study aims to outline the results of a survey in 24 Bulgarian financial institutions with regard to: proliferation of e-CRM systems, architectural and functional features, and non-economic effects and benefits of their implementation, return on investment. Models were proposed for improving the system and customer-oriented business process.