Transformations  in
Business & Economics

FACTORS OF ELECTRONIC MARKETING ADOPTION IN COMMERCIAL BANKS IN THE COUNTRIES OF SOUTH-EASTERN EUROPE
Marija Jankovic

ABSTRACT. The subject of this research is the analysis of the range influence factors affecting the adoption of electronic marketing (e-marketing) in commercial banks. The aim is to analyse the achieved level of e-marketing adoption in the selected post-socialist countries of South-Eastern Europe (SEE). In the theoretical part of the paper, we selected and analysed variables, which resulted in two sets of factors (endogenous and exogenous) pertinent to the understanding of the commercial banks' decision to adopt e-marketing. The key factors were selected: perceived usefulness, compatibility, banks' readiness, perceived ease-of-use and affordability, customers' pressure, competitive intensity, and management attitude. In the quantitative part of the paper, we evaluated the impact level of selected factors on e-marketing adoption in the observed countries. It starts with the hypothesis that the selected factors have a significant impact on the adoption of e-marketing. By understanding the advantages of the selected factors, the basis for their control and improvement can be created which will probably result in increasing the adoption of e-marketing and exploiting its advantages in improving the performance of the bank. In researching the perception of an impact of selected factors the multiple linear regression method was used. A mathematical model based on multiple linear regression analysis was created, explaining the functional relationship between the dependent variable (Dv): the level of e-marketing adoption and selected independent variables. The independent variables were selected based on theoretical research in this field and reliability tests of the obtained data using the Alpha test and factor analysis of the components. The aim was to assess the expected mean value of the dependent variable (Y), based on the individual assessments of the respondents. Respondents were asked to evaluate the dependent variable in the model and independent ones, based on their best knowledge, experience, and (or) intuition. Presented empirical data, qualitative and quantitative, have verified the theoretical hypothesis. The evaluation of the current status of selected factors reveals opportunities that should be seriously taken by commercial banks in order to survive the consequences of globalization and open markets. The selected factors explain to the great extent the situation in e-marketing in the observed countries.

KEYWORDS:  e-marketing, adoption of e-marketing, commercial banks, South-Eastern Europe (SEE) countries.

JEL classification:  L81.