Browsing by Issue Date, starting with "2024-06-27"
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- Traditional vs. smart packaging : exploring the influence of packaging on purchase intentionPublication . Hauk, Madeleine Isabell; Romeiro, PauloPackaging is an essential tool in the field of marketing and over the years, technological developments have led to modern trends such as smart packaging which make it possible to enhance the benefits of traditional packaging by improving the quality and safety of a product. The study investigates how the use of different types of packaging affects consumers9 purchase intention while simultaneously taking into account other factors, such as perceived product quality and consumers9 technology affinity. In order to explore the relationship between these individual variables, quantitative data was collected by conducting two online surveys. Analyzing the data, a significant effect of both traditional and smart packaging on purchase intention was identified, which turned out to be more positive for smart packaging approaches. Additionally, the results show that consumers perceive food in smart packaging as being of higher quality compared to traditional packaging. After exploring that there is a significant mediating effect of perceived product quality, the interaction effect of technology affinity and packaging was identified as not statistically significant. However, there is a significant effect that smart packaging is more effective in increasing purchase intention among consumers with an average or a high level of technology affinity. These findings contribute to the literature by offering a foundation for future research and leading to managerial implications for approaching future marketing strategies.
- An empirical analysis on the impact of online community engagement on the purchase intention of generation Z customers : a focus on luxury skincare brandsPublication . Marchesan, Sofia; Rita, MiguelThis dissertation examines the dynamic intersection of social commerce, online communities, and luxury skincare products. Luxury skincare companies are using online communities more and more to increase customer engagement and boost sales as a result of the growth of digital platforms. In order to investigate this phenomenon, the research uses a mixed-method approach to examine how social commerce strategies affect young consumers' behavior and purchase intention in the luxury skincare market. It does this by thoroughly reviewing the body of extisting literature, and integrating both qualitative and quantitative analyses. To gather qualitative insights, individual interviews were conducted, focusing on consumers' interactions with brands through social media platforms and online communities. Moreover, a questionnaire was distributed among Generation Z consumers living in Italy and the data derived from this survey was rigorously analyzed to uncover patterns and correlations. Through this methodology, the research gathered key insights into how online communities are perceived and allow consumers to interact, particularly in the context of luxury skincare. The discussion section delves into the implications of these findings, emphasizing the role of digital engagement in shaping consumer preferences. As a result, the conclusion of this thesis highlights the critical role that online communities play, offering strategic insights for luxury skincare brands aiming to leverage these platforms for customer engagement and market growth. It points out the role of interaction by revealing that community-driven marketing influences consumer purchasing decisions, contributing to the academic understanding of online communities and providing practical recommendations for the luxury skincare industry.
- O impacto do modelo de gestão de PPP no processo orçamental : o caso da AscendiPublication . Fernandes, Joana Raquel Alves; Marques, Luís Manuel DionísioA presente investigação visa a compreensão da influência do modelo de gestão de parcerias público-privadas, em regime project finance, nas dinâmicas dos processos de planeamento e controlo orçamental. O trabalho de investigação tem por base o estudo de caso do “Grupo Ascendi”, que se dedica à operação e manutenção de infraestruturas rodoviárias, prestação de serviços de cobrança de portagens e gestão de ativos. A análise teve início na recolha das principais características específicas dos processos de gestão das parcerias público-privadas, colocadas em confronto com as características do orçamento, realçando os argumentos a favor e contra do uso de cada um. Para responder às questões de investigação, optou-se pela metodologia de estudo de caso, recorrendo à observação direta dos processos de planeamento e controlo orçamental da organização, à análise de diversos documentos internos e à realização de seis entrevistas presenciais a responsáveis e colaboradores das principais áreas operacionais. Esta análise permitiu conhecer as renegociações contratuais de algumas concessões, em particular na concessão do Grande Porto, e a influência destas nos processos orçamentais. De seguida, analisou-se o processo de planeamento e controlo orçamental vigente e avaliou-se a perceção interna da utilidade do orçamento anual. Os resultados sugerem que o processo orçamental do grupo é efetivamente influenciado pelo modelo de parceria público-privada em que opera. A complexa teia contratual surge como o principal motor da adoção do orçamento anual.
- Equity valuation Mercedes-Benz Group AGPublication . Almirante, Tiago; Martins, TudelaThe automotive industry has been suffering a lot of changes recently. Topics like shared mobility, autonomous driving and electric vehicles came to revolutionize this sector. In an economic environment that is still recovering from the Covid-19 pandemic, the vulnerabilities of this sector came forward. Challenges related to supply chain disruptions, increasing inflation rates and raw materials prices came to enhance the perseverance of the major firms. Mercedes Benz AG, known as one of the most reputable luxury brands in the industry, has been investing to face these changes. Therefore, this dissertation aims to estimate the fair value of Mercedes Benz Group AG share at the end of 2024. This thesis highlights each division of the company, after the spin-off of Daimler AG on 2021, using three main methodologies: Discounted Cash Flow (DCF), Relative Valuation and the Dividend Discount Model (DDM). To present the background of the assumptions taken, an overview of the company, as well as its strategy and ownership structure was made. Additionally, industry overview and key players are presented to showcase the competition faced by the firm. Furthermore, DCF model estimates a fair value of €81,31 for Mercedes-Benz share. Relative valuation returned an average value of €55,39 and the Dividend Discount model led to a share price of €44,92. Thus, this dissertation highlights a HOLD recommendation, based on the attribution of a 10% weight to the DDM, 20% to the Relative Valuation and a 70% weight to the DCF model, reaching a final Share price of €72,48.
- Recreational cannabis in Germany : a study of an emerging marketPublication . Berger, Raphael; Rajsingh, PeterCannabis is one of the oldest crops known to mankind, with evidence of its use dating back to ancient China and India. Globally, cannabis legalization is becoming more prevalent, with countries like Uruguay, Canada, and several states in the United States decriminalizing medicinal and recreational use in recent years. Germany is expected to become one of the largest recreational cannabis markets in the world. Despite the potential size and growth of the German cannabis market, there are still many challenges and uncertainties facing firms looking to enter the market. The research question of this thesis is as follows: what factors will determine success for a cannabis firm when the new regulatory framework is implemented? The research is conducted using a mixed-method approach, using a survey with a sample of n = 204 and three expert interviews with market insiders. Amongst others, the research shows that the legalization of cannabis opens opportunities, particularly in the medical field. Quality is paramount for consumers when purchasing cannabis. Branding is predicted to drive the cannabis market, with consumers making choices based on brand perception. Familiarity with brands can influence purchasing decisions, with many perceiving familiar brands as high quality.
- Equity valuation Ferrari N. V.Publication . Medina, Piero Estefano Arce; Martins, TudelaThis dissertation aims to determine the intrinsic value of the luxury Italian car manufacturer Ferrari, a company with an extensive history and reputation in the high-end automotive industry. Once the intrinsic value per share is calculated, it will be compared to the market price at the date to provide an investment recommendation (sell/hold/buy). The first step involved identifying the most used valuation methods and determining which is most suitable for this company. It was concluded that the Discounted Cash Flow and multiples valuation (LTM & NTM) methods are the most appropriate. Subsequently, a market analysis was conducted, followed by a detailed qualitative and quantitative analysis of the company. After performing a financial analysis of the industry and the company, focusing on the last six years (instead of the standard five years to mitigate the impact of COVID-19), the corresponding projections were made in the DCF model, the change in working capital was determined, and the free cash flow to the firm was calculated (as explained in the literature review). The DCF analysis yielded an intrinsic value of 152€, which, when compared to the market price of 394€ as of April 15th, 2024, indicates a difference of 159%. The LTM multiples valuation produced a higher result of 281€, which also shows a difference of 40% when compared to the market price. Both results indicate that the market is currently overvaluing the stock, suggesting a "sell" signal.
- Business cycles : the predictive power of the yield curve for recessions in the G7 countriesPublication . Bianchi, Carolina Martins; Bhimjee, DiptesEconomic recessions and Business Cycles have been studied over the years because of their serious financial impacts, which tends to spread all over the economy, causing unemployment, poverty, bankruptcies, etc. This Dissertation addresses the reliability of the yield curve as recession’s predictor nowadays and aims to test the forecasting power of the yield curve in countries beyond the United States. By employing Panel Data estimations, an empirical analysis of the ability of the yield curve and other macroeconomic variables to predict recessions is conducted, using indicators of economic activity across the G7 countries as a whole and individually, based on monthly data from 1995 to 2023. Empirical evidence shows that the predictive power for recessions is not uniquely a consequence of the yield curve as predictor, but also a result of the impact of the lags of the dependent variable itself as the current value of an economic activity indicator is deeply influenced by its recent past values. Furthermore, the third predictive equation presented for each predicted variable has the greatest predictive power for recessions, suggesting that the composite leading indicator is a better predictor of the economic activity than inflation and money supply together. Findings suggest that an efficient predictive power of the yield curve and lagged variables specially for Industrial production and Retail sales as dependent variables. Finally, robustness checks are conducted as the regression framework was restricted to a given regional area (America and Europe) and to specific countries, suggesting the stability of the estimations performed.
- The impact of live-streaming platforms on television viewing habitsPublication . Trunk, Michael; Rajsingh, PeterThis dissertation explores the dynamic and evolving landscape of live-streaming platforms and their impact on television viewing habits. With the rise of platforms such as Twitch.tv or YouTube Live, there has been a shift in how audiences consume and engage with digital content. This research looks at various aspects of live streaming and includes technological advancements, the role of streamers, and the behavior of audiences on these platforms. A comprehensive analysis is conducted on how live-streaming services impact the television industry, with focus on the flexibility, interactivity, and availability offered by live streaming. This study incorporates survey and expert interview findings to provide an understanding of user preferences and behaviors. The research shows that especially younger audiences are increasingly drawn to the interactive and immersive experiences offered by live-streaming platforms. Key motivations for the usage of these services include social interaction, real-time engagement, and flexible access to diverse content. The research also highlights various challenges and opportunities for traditional media companies. The findings suggest that TV broadcasters innovate their content strategies and improve audience engagement. This dissertation contributes to a broader understanding of the digital transformation of media consumption and offers practical recommendations for media organizations operating in the evolving digital landscape.
- POS displays in a circular economy : an empirical investigation of German Generation Z’s perception of circular-designed confectionery POS Displays and the impact on their purchase intention and willingness-to-pay of confectionery in GermanyPublication . Schuppler, Niklas; Rita, MiguelThe current economy is facing significant challenges emerging from unsustainable economic models, primarily driven by waste generation. A major contributor is the FMCG industry, where single-use point-of-sale displays play a notable role in waste production. Despite their short service life, point-of-sale displays are essential for sales promotion. This dissertation examines the integration of circular economy principles into point-of-sale marketing, focusing on confectionery displays in the German FMCG sector, emphasizing the prevention of waste, the circulation of materials and the regeneration of nature. Generation Z is the target group of this study based on their growing purchasing power and environmental awareness. Using the stimulus-organism-response model, this research investigates the influence of stimuli (point-of-sale display attributes, the confectionery manufacturer’s environmental record and Gen Z’s environmental concern) on Generation Z’s perceived sustainability of a circular-designed point of-sale display, and its impact on their purchase intention as well as willingness-to-pay for confectionery promoted in circular-designed point-of-sale displays. A mixed methods approach was used, starting with qualitative interviews for initial insights, followed by a quantitative survey. Key findings show that point-of-sale display attributes (i.e., circular materials, natural colors, informative content), manufacturer’s environmental record and a higher level of environmental concern positively influence Gen Z’s perceived sustainability of a circular-designed confectionery point-of-sale display. The direct influence of perceived sustainability on purchase intention and willingness-to-pay depends on consumers’ circular economy familiarity. The managerial implications highlight the importance of launching appealing and informative circular-designed point-of-sale displays, while confectionery manufacturers must increase transparency and educate consumers about circular economy.
- ChatGPT for travel planning : influencing factors and the effect of AI hallucinationPublication . Reichardt, Jessy; Rodrigues, HelenaArtificial intelligence (AI) is considered the key technology of the 21st century and is on its way to disrupt multiple industries, including the tourism sector. As the fastest-growing consumer application in history, ChatGPT can support consumers during their travel planning process. However, a research gap concerning influencing factors of ChatGPT usage intention for tourism decision-making exists. This study aims to understand how perceived usefulness, perceived trustworthiness and AI hallucination potential influence the intention to use ChatGPT for travel planning. A quantitative methodology approach was used by conducting an online survey with 308 participants across Generation Y and Generation Z. By performing a statistical analysis, it was found that perceived usefulness directly influences the usage intention of ChatGPT for travel planning. Additional results show that AI hallucination potential and the division into Generation Y and Generation Z have no significant effect on the willingness to utilize ChatGPT in travel decision-making.
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