Marketing in the spa industry: How does marketing affect the performance of spa businesses in Slovakia?

Abstract

This research delves into the influence of marketing on the performance of spa businesses in Slovakia, a sector with a rich historical background and significant potential for growth. This study aims to examine the role of marketing in the spa industry in Slovakia and its impact on the performance of selected spa businesses. This study utilizes regression analysis in statistical software R to assess financial data from twenty-five spa businesses in Slovakia spanning from 2012 to 2022 comprising 198 data points. In addition, the study investigates the use of social media platforms in spa marketing by examining the online communication practices of selected Slovak spa businesses and their international counterparts. The results indicate that although the use of social media in the marketing strategies of Slovak spa businesses is currently limited, marketing expenditures significantly influence the sales of these businesses. This highlights the potential for improved performance through more strategic marketing, particularly digital channels. The limitation of this study is the availability of statistical data in the environment of spa businesses in Slovakia which significantly limits the results of the study. The findings emphasize the importance of effective marketing implementation in the Slovak spa industry with a specific focus on the necessity for increased digitization and the use of social media platforms. This insight is essential for spa businesses seeking to optimize their marketing efforts and enhance overall business performance.