SMART ENTREPRENEURSHIP: OPPORTUNITY FOR DEVELOPMENT OF THE FURNITURE INDUSTRY IN THE NORTH-EAST REGION OF ROMANIA

Procopie-Florin Gusul
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Procopie-Florin Gusul: "Ștefan cel Mare" University of Suceava, Romania

Revista Economica, 2019, vol. 71, issue 2, 77-91

Abstract: Augmented reality (AR) allows for further development of the physical world by adding real-time virtual digital information. This gives entrepreneurs and especially retailers unprecedented options to attract customers. Having the power to put (virtual) products into the hands of customers creates interesting opportunities for users in order to prefer a particular brand, service or product. Although it is expected that the AR solutions market to grow exponentially in the coming years and several companies have already tried to expand their business by using this type of smart technology, this issue is less known in Romania, much less in regions which are less economically developed and, specifically with regards to the entrepreneurial environment. This paper debates and demonstrates that AR technology applied by a smart entrepreneur can direct customer behaviour in the purchasing process and produce favourable outcomes such as product knowledge, positive attitudes, and stronger buying intentions. This paper specifically addresses how an AR-type solution widely used by a multinational company such as IKEA may become an opportunity to develop entrepreneurship in the North-East region of Romania, having as starting point the Strategy for Research and Regional Innovation through Intelligent Specialization (RIS3) North-East which evokes the furniture industry as a priority for the region, corroborated with the statistical data presenting relevant information on primary production in the wood industry.

Keywords: smart city; augmented reality; intelligent specialization; entrepreneurship; furniture industry (search for similar items in EconPapers)
JEL-codes: L26 O14 O32 (search for similar items in EconPapers)
Date: 2019
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