Behavioral model of business change management in relation to building competitiveness in market economy conditions
Abstract
In the current market environment, the actual dynamics of the application of internal corporate factors is differentiated. The company thus tries to influence customers’ shopping behavior as effectively as possible. Therefore, it is important for the company to be able to adapt to these changes as effectively as possible. The purpose of the article is to analyze the factors influencing consumer behavior in the market conditions of the Slovak Republic. We described the current situation by a survey, which we conducted in 2020–2021. Among the selected categorical variables, we verified the dependence in two hypotheses by the statistical method of Pearson’s Chi-Square test. Using the method, we pointed out the factors that influence consumer behavior and can be important for change management. We compared the results of the survey with the results of similar surveys conducted abroad. Accepting the results of the survey, we proposed a general model of change management in the discussion part of the article. The model is thus a practical implication for companies with a differentiated subject of business. It also takes into account the behavioral characteristics that the company should adapt to in the current situation in order to achieve its strategic goals.
Keyword : consumer, business change management, consumer policy, competitiveness, behavioralism, emotional marketing, trends
How to Cite
Vrtana, D., Rosnerova, Z., & Krizanova, A. (2021). Behavioral model of business change management in relation to building competitiveness in market economy conditions. Business: Theory and Practice, 22(2), 493-503. https://doi.org/10.3846/btp.2021.15247
This work is licensed under a Creative Commons Attribution 4.0 International License.
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Baumeister, R. F., Kathleen, D. V., & Dianne, M. T. (2012). Emotional influences on decision making. Taylor and Francis.
Beall, T. A., & Tracy, L. J. (2017). Emotivational psychology: How distinct emotions facilitate fundamental motives. Social and Personality Psychology Compass, 11(2), 350–367. https://doi.org/10.1111/spc3.12303
Berne-Manero, C., & Marzo-Navarro, M. (2020). Exploring how influencer and relationship marketing serve corporate sustainability. Sustainability, 12(11), 1–19. https://doi.org/10.3390/su12114392
Chen, Y. M., & Yang, Z. L. (2020). The behavioral analysis of choice difficulty states during clothing online shopping. International Journal of Clothing Science and Technology, 33(4), 577–589. https://doi.org/10.1108/IJCST-12-2019-0189
Chen, Y. S., Chen, J. T., & Lin, Ch. (2016). The analyses of purchasing decisions and brand loyalty for smartphone consumers. Open Journal of Social Sciences, 4(7), 108–116. https://doi.org/10.4236/jss.2016.47018
Clore, G. L. (2011). Psychology and the rationality of emotion. Modern Technology, 27(2), 209–222. https://doi.org/10.1111/j.1468-0025.2010.01679.x
Clore, G. L., & Huntsinger, J. R. (2007). How emotions inform judgment and regulate thought. Trends in Cognitive Sciences, 11(9), 393–399. https://doi.org/10.1016/j.tics.2007.08.005
Deng, J. Q., Zhang, N., Ahmad, F., & Draz, M. U. (2019). Local government competition, environmental regulation intensity and regional innovation performance: An empirical investigation of Chinese provinces. International Journal of Environmental Research and Public Health, 16(12), 2130. https://doi.org/10.3390/ijerph16122130
Dhaliwal, A., Singh, P. D., & Paul, J. (2020). The consumer behavior of luxury goods: A review and research agenda. Journal of Strategic Marketing, 29(6), 1–27. https://doi.org/10.1080/0965254X.2020.1758198
Gubruz, I. B., & Macabangin, M. (2019). Factors affecting consumer’s behaviour on purchasing and consumption of food products. Scientific Papers Series Management, Economic Engineering in Agriculture and Rural Development, 19(1), 215–222.
Ho, T., H., Lim, N., & Camerer, C. F. (2006). Modeling the psychology of consumer and firm behavior with behavioral economics. Journal of Marketing Research, 43(3), 307–331. https://doi.org/10.1509/jmkr.43.3.307
Jermsittiparsert, K., Siam, M. R. A., Issa, M. R., Ahmed, U., & Pahi, M. H. (2019). Do consumers expect companies to be socially responsible? The impact of corporate social responsibility on buying behavior. Uncertain Supply Chain Management, 7(4) 741–752. https://doi.org/10.5267/j.uscm.2019.1.005
Kranzbuhler, A. M., Zerres, A., Kleijnen, M., & Verlegh, P. W. J. (2020). Beyond valence: A meta-analysis of discrete emotions in firm-customer encounters. Journal of the Academy of Marketing Science, 48(3), 478–498. https://doi.org/10.1007/s11747-019-00707-0
Littlechild, S. (2019). Promoting competition and protecting customers? Regulation of the GB retail energy market 2008–2016. Journal of Regulatory Economics, 55(2), 107–139. https://doi.org/10.1007/s11149-019-09381-0
Paton-Romero, J. D., Baldassarre, M. T., Rodriguez, M., & Piattini, M. (2019). Maturity model based on CMMI for governance and management of Green IT. IET Software, 13(6), 555–563. https://doi.org/10.1049/iet-sen.2018.5351
Plessis, E. (2011). How the customer perceives the brand. Computer Press.
Pour, M. J., & Jafari, S. M. (2019). Toward a maturity model for the application of social media in healthcare: The health 2.0 roadmap. Online Information Review, 43(3), 404–425. https://doi.org/10.1108/OIR-02-2018-0038
Ramirez-Mora, S. L., Oktaba, H., & Perez, J. P. (2020). Group maturity, team efficiency, and team effectiveness in software development: A case study in a CMMI-DEV Level 5 organization. Journal of Software-Evolution and Process, 32(4), 2232. https://doi.org/10.1002/smr.2232
Rathore, A. K., & Ilavarasan, P. V. (2020). Pre-and post-launch emotions in new product development: Insights from Twitter analytics of three products. International Journal of Information Management, 50, 111–127. https://doi.org/10.1016/j.ijinfomgt.2019.05.015
Sinigh, M., & Pandey, A. (2017). Effects of emotional appeal used in television ads on purchase decision of consumer a literature review. International Education & Research Journal, 3(5), 176–178.
Sjodin, D. (2019). Knowledge processing and ecosystem cocreation for process innovation: Managing joint knowledge processing in process innovation projects. International Entrepreneurship and Management Journal, 15(1), 135–162. https://doi.org/10.1007/s11365-018-0550-3
Socha, T. J., & Beck, A. G. (2015). Positive communication and human needs: A review and proposed organizing conceptual framework. Review of Communication, 15(3), 173–199. https://doi.org/10.1080/15358593.2015.1080290
Srivastava, R. K., & Wagh, S. (2017). Factors impacting consumer purchase behaviour for pharmaceutical products. International Journal of Healthcare Management, 13(2), 113–121. https://doi.org/10.1080/20479700.2017.1348004
Victor, V., Thoppan, J. J., Jeyakumar Nathan, R., Farkas Maria, F. (2018). Factors influencing consumer behavior and prospective purchase decisions in a dynamic pricing environment – an exploratory factor analysis approach. Social Sciences, 7(9), 153. https://doi.org/10.3390/socsci7090153
Vuorinen, L., & Martinsuo, M. M. (2019). Lifecycle view of managing different changes in projects. International Journal of Managing Projects in Business, 12(1), 120–143. https://doi.org/10.1108/IJMPB-11-2017-0135
Wei, J., Chen, H., Long, R. Y., & Zhao, F. (2019). Application of the capability maturity model to evaluating the carbon capability maturity of urban residents in 10 Eastern provinces of China. Resources Conservation And Recycling, 148, 11–22. https://doi.org/10.1016/j.resconrec.2019.04.029
Zapata Jaramillo, C. M., Valderrama Betancur, J., & Jimenez Pinzon, L. D. (2015). Representation of CMMI-DEV practices in the Semat kernel. IEEE Latin America Transactions, 13(10), 3476–3481. https://doi.org/10.1109/TLA.2015.7387257