Abstract: The impact of brands has become more powerful than ever in the contemporary world and brand managers are aware that brand growth and expansion are essential for the increase of sales and the development of companies in general. Leading companies like Xerox and Coca-Cola report that brand is as important to their performance as factories, innovations and capital are, since powerful brands attract wealthy customers and investors. The concept of brand equity has been widely employed lately. It refers to the financial worth which adds to the physical properties of tangible assets and of products in particular. Brand equity is in essence the measurement of the value added. The objective of this paper is to present contemporary methods for valuating brand equity and to provide a comparative analysis of their employment. In-depth knowledge about global practices in brand equity valuation is of fundamental importance to designing a successful and efficient branding strategy.
Abstract: The evolution of financial analysis is accompanied by an extensive use of indicators whose calculation is based on data provided both by entities in their financial statements and by financial markets. The analysis of data and indicators generated by the capital market is considered to be of primary importance when studying the financial position of enterprises. This view is supported by a substantial number of analysts and, although not applicable to all enterprises, it raises a number of questions, two of them being whether the new analytical indicators are replacing the classic indicators of financial statement analysis and whether financial statements have retained their fundamental role as a primary source of data in studying the financial position of enterprises. The objective of this paper is to answer these questions by approaching the interpretation of financial statements within the context of some unorthodox views about the evolution of financial analysis.
Abstract: The nature of developing tourism as a business depends largely on the objectives pursued and on the demand of the tourists it attracts as customers. To determine the nature of the modern tourist business in Bulgaria, this article focuses on the quality and characteristics of its realisation as an industry. The aim is to determine whether best examples or negative practice prevails in the tourism business in this country. The presented formulation implies a comparative analysis of tourism in Austria and Bulgaria, based on criteria that reveal its core characteristics from the perspective of market competition and the principles of sustainable development. Parallels are sought between the impact of economic reforms in Bulgaria in the period of transition and the present tourism business in the country.
Abstract: : The evolution of the marketing paradigm. Over the last decade, mar¬ket¬ing has started to develop new content in its paradigm, based on rethinking existing mar¬keting hypotheses for identifying, studying and solving the problems of economic life. Un¬der the influence of revolutionary changes in business and of so¬cie¬ty in general, the interest of business in human values and public welfare has increasingly become a topical issue. The article reveals the logic of the evolution of the marketing paradigm of business from products and their sale (product-centric), through to the market represented by buyers (market-centric) to people, their values and spirit (human-centric). It discusses the main points of historical and logical developments in the conceptual aspects of the marketing paradigm. It also examines the new content of the modern marketing paradigm - oriented towards taking into account human values and spirit to enhance public welfare and safety. This article also presents new directions in the development of the marketing concept and of the mar¬keting system. Thus the marketing approach to business management acquires new conceptual, problem and instrumental dimensions.
Abstract: The paper presents the evolution of economic thought from its birth in ancient Eastern societies till present day, in terms of different approaches to property; the need of laws; state intervention and regulations. We review major economic theories within the historical context in which they appeared to arrive at arguments in favour of or against state intervention in the economy of a nation, in contrast to the effects produced by the ‘invisible hand’ of the market.
Abstract: Professional players on the Russian market in microelectronics form temporary partnerships so that they can design and develop microelectronic devices with a certain life cycle. This paper proves that the capacity of such partnerships to develop successfully and to achieve the goals they have set depends on the stages of their development, i.e. the stages of a partnership life cycle. The materialisation of these partnerships refers to all stages of the technological value chain of microelectronic devices, which allows each professional player on the Russian market in microelectronics to perform their functions. Each stage of the partnership life cycle relates to specific features and key success factors. By analysing the stages of partnerships life cycles, it is possible to predict and identify potential problems in terms of the materialisation and development of inter-organisational relationships.
Abstract: his article studies the process of evolution of indicative models for evaluating the development of media in the global economy. Significant changes that have occurred in the process of determining the nature and dynamics of the media market are specified. The author of the paper makes a theoretical analysis of the polystructural diffusion of media systems. Special attention is paid to the sectoral structure of the market, which facilitates identifying the prospects for transforming the content of produced formats. A classification of the major approaches for the development of media market is proposed: classical, analytical, synthetic and trending, as well as an operating institutional system. The specifics of the dynamics of structural changes in the advertising market that are modelled on the media market are described. Geographical and compositional comparisons of selective indicators are made. The corporate changes in the media market are analysed.
Abstract: The substantial export potential of Bulgarian beekeeping requires that any national programme on beekeeping include promotion measures about third countries and EU member-states. Those measures should primarily refer to high-quality bee products that are organic, with protected geographical indication (PGI), with protected designation of origin (PDO), etc. The share of promotional budgets for Bulgarian beekeeping in the national beekeeping programmes must be increased since promotional EU budgets have been rising steadily. The Common Agricultural Policy (CAP) of the EU has established the infrastructure and the environment, in which beekeeping farms should employ communication instruments more comprehensively and conduct more extensive communication policies. Although the CAP finances and subsidises the advertising of Bulgarian bee products at higher meso, macro and mega levels, it requires horizontal integration. PR and direct marketing have been identified as some of the most appropriate communication instruments for Bulgarian beekeeping farms. PR integrates into a single cause all marketing communications, while direct marketing may be employed as a strategic instrument for accomplishing long-term goals and improving the management of customer relations.
Abstract: Insurance companies in Bulgaria develop their business in a market economy. Therefore, insurers are constantly striving to achieve competitive advantage. As a result of the competitive struggle between companies in the insurance market, an appropriate range of products is offered at the best possible conditions and consumer prices, and the quality and efficiency of the insurance protection is increased. The present article determines the shape and strength of competition in the general insurance market in Bulgaria for the period 2008-2012. It was found that only in mass contracting of insurances, the insurance companies operate in highly competitive environments. The market of less popular insurances is characterized by an oligopolistic structure. In the offering of some of them, there is even monopoly.
Abstract: The scope of this paper is to approach creativity in conceptualization, designing and marketing of tourist products.
Special attention is paid to the relation “Tourist potential of a region – tourist attractors – tourist products/brands – tourist products/brands marketing”.
Consequently, we have presented certain models of a creative process, namely the tourist product’s superstructure, structure, infrastructure and infostructure. They are regarded as objects of creative ideas, insights and visual models of tourist products. Special attention is also paid to the integration of tourist products in so called integrats. The creative marketing process of original tourist products is also structured.
Attention is also paid to possible approaches for integral usage of the Danube river tourist potential. Concrete tourist products/brands which could increase the attractiveness of the region are presented. One of them is the Bulgarian Danubian coast.
Abstract: This article discusses insurance culture as a factor in the develop¬ment of the insurance business. The author assumes that the image of insurers is directly dependent on insurance culture.
Special attention is paid to management and its role in raising the level of in-surance culture. On the basis of practical experience, insurance culture is related to the specific aspects of an insurance service.
It is assumed that in order for the level of insurance culture to be raised, a certain role is played by advertising.
The author also gives proof not only of the necessity of raising the insurance culture of the employees of an insurance company, but also of the potential users of insurance products.
Abstract: The article deals with the theo
nationalisation. It presents the results of researching the processes of import substitution and export orientation of Russian enterprises, as well as the authors’ ideas about the scientific and methodological approaches to the development of models and stages of business internationalisation at the present stage. The article also explains the sequence of the new phases of transition at the initial stage of expansion on the domestic market and accessing foreign markets.
Abstract: The Ukrainian medical device market is gradually following the path of harmonization with the market of the European Union. Although there was a number of amendments to the Ukrainian regulations in accordance with the existing European directives, the overall legislative part is probably the simplest portion of the homework. To bring the state of the market up to the next level the government of Ukraine will need to take a new and reformatory approach in dealing with the peculiarities of this industry, consisting mostly of out-of-date equipment, shortage of high-value devices, general poor treatment conditions in state clinics and many more. Considering the above-mentioned, scrutiny of current market issues is a key means of identifying and prioritizing critical points that require repair actions.
Abstract: Due to the complex and dynamic situation in commodities markets, Bulgarian industrial enterprises need to apply more flexible and efficient approaches in order to adapt promptly to contemporary challenges. Industrial enterprises seek to demonstrate behaviour which will enable them to maintain and expand their market positions, respond adequately to changes in consumer demand and react to increasing competition. The aim of this article is to examine the market behaviour of Bulgarian industrial enterprises on the basis of theoretical and empirical research and to summarise some of the specific features of this market behaviour.
Abstract: In this article, the author has shared his views on how Enterprise 2.0 is used for solving 4 groups of problems in the company: Marketing in Web 2.0 and working with customers of the company; The relationships with business partners; Personnel management; Managing the knowledge in the company. The author also offers an approach to developing a strategy for implementing Enterprise 2.0 for the needs of the company where the actions are theoretically divided into six phases: analysis of the business processes in the company, research and analysis of the con¬dition of the information systems and technologies, defining the main objectives and activities on developing ICT, delineating the possible means of applying social net¬works in business processes, developing projects for a corporate social network and realizing the new IT strategy for a social corporate network.
Abstract: The popularity of social media is constantly growing. More than 84% of Internet users have accounts on social networks and spend between two and four hours per day on the Internet. Each user has 195 “friends” on average. Spending time in the social media is already activity number one in the Internet, exceeding the popularity of activities such as searching for information search and using e-mail. It is expected that Facebook will replace e-mails as the main means of communication.
Recently the number of people, who use social networks not only to communicate but also to find information about various goods and services, is steadily increasing. Social networks is gaining increasing popularity as a powerful business tool. The business is taking its first steps in using social media platforms as an effective marketing channel.
The first part of the article examines the main reasons, which determine the closer integration between the social media and business processes within companies. These reasons include the use of social tools by the majority of Internet users; the undoubted advantages that social media can provide for businessås; the employees’ passion for social networks; and the need for a clearly developed marketing strategy for using social media. Special attention is paid to the latest data on the use of digital technology in Bulgaria and the reasons, which determine the serious lagging of our country compared to other EU countries in some of the most important aspects.
In the second part, the author outlines the main areas in which social media can help the business: marketing; sales; customer service; PR campaigns; personnel recruitment; customer relationships management; brand promotion and increase of brand recognition; training and staff development. An attempt is made to highlight some of the manifestations of social tools in each of the above mentioned areas, based on specific examples.
Abstract: The paper seeks a plausible explanation of the magnitude of equity risk premium, by modeling leading behavioral concepts in the conditions of Bulgarian capital market. Firstly, the fair equity risk premium is derived by basic neoclassical consumption-based model. Subsequently, the conducted comparison between fair and empirical risk premium indicates that the demanded compensation by investors for owning Bulgarian stocks cannot be rationally explained, i.e. there is an equity risk premium puzzle on BSE. On this basis, we have applied a behavioral model based on two well-known characteristics of human behavior in conditions of risk and uncertainty – loss aversion and narrow framing. Set at reasonable levels of risk and loss aversion, the model has managed to generate risk-free rate and market returns close to empirical levels.
Abstract: The choice of the subject matter for this article is based on the view that product policy has a key role. Given the specifics of the soft drinks sector it suggests a methodical framework for the process of product planning, which contributes to making reasoned management decisions on product policy. In addition, it presents some basic starting formulations that reveal the essence of product management and describes and groups the elements of product policy characteristics for the companies from the sector examined.
Abstract: The article aims to present the Bulgarian policy in the education sector in search for opportunities to create and maintain a sustainable and effective relationship between the labour market and higher education. The study draws attention to the effects of a project, developed and tested in recent years, related to conducting practical training of students. The outcomes show that the availability of similar financial mechanisms contribute to creating and strengthening the relationship between higher education and the labour market.
Abstract: The aim of this research is to outline some key trends in the development and state of contemporary global and Bulgarian agricultural markets. The research comprises the occurring changes in agricultural markets. The analysis of on-going transformations includes the state and dynamics of their global dimensions, and the influence of social, technological and other factors. We have analysed the GMO, organic and online markets of agricultural products in relation to their prospects for development on a global scale and at a regional level – in Bulgaria. We have ascertained tha,t as a whole, the trends of expanding agricultural markets – conventional, organic, genetically modified foods and online - are the result of social transformations and technological development. We have observed a significant delay in Bulgarian agricultural markets compared to the trends and development of world agricultural markets. We have ascertained a strong discrepancy – bearing in mind the development of agricultural business in Bulgaria throughout the last decade and a significantly slower development of national agricultural markets, infrastructure and market relations. Particular difficulties exist related to the realization of agricultural produce created in Bulgaria.
Abstract: This paper focuses on the relationship between the state, individuals, employers, and universities based on methods of quantification. The conclusion drawn is that higher education is the basis for socio-economic development and efficiency of the labour market, which could be used by governments in the formation of a policy regarding higher education through the vocational and qualification conformity indicator.
Abstract: The article presents the results of scientific research on the role of labour factors, fixed-term employment contract, in particular, in the innovation activity of organizations of Belarus. The influence of the fixed-term employment contracts on the innovative activity of enterprises has been identified. It has been proven that the smaller scale of the organization, the more often they use a fixed-term employment contract. It is proved that if organizations have a fixed-term employment contract, they are more innovative and innovative organizations are active.
Abstract: Collaborative consumption is a current global trend which is changing the way in which people use goods and services. This trend also affects the state of the tourism market. With reference to this the article studies the increased use of this business model nowadays by outlining its main characteristic features and the reasons that have caused its appearance. In addition, the article classifies the wide variety of services and products that fall within the scope of this model. Special attention is paid to the factors which limit and stimulate its development. The article also provides a summary of the most widely used digital platforms for sharing tourism – related services. In conclusion, it systematizes the advantages and disadvantages of collaborative consumption and its effects on the conventional supply of tourism products and services.