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The purpose of this paper is to examine the level of capital market integration between the Montenegrin stock market and a number of European Union (EU) countries and the USA.

The authors use an equity data set at the daily frequency from 12 countries and 4 broad regions, spanning the period from March 2003 to September 2008. They investigate long-run and short-run dynamics using cointegration techniques, Granger causality tests and vector error correction models.

The authors provide evidence for the existence of a long-run equilibrium between Montenegro and the developed countries of Western Europe and the USA. The investigation of short-run dynamics reveals that Montenegro follows an autonomous path, influenced mainly by domestic developments.

This is the first study on the Montenegrin stock market which has been neglected by the academic community. Montenegro’s accession in the EU is imminent; thus the study of the level of its integration with the rest of EU countries, before its actual accession, is useful for regulators and policymakers. Various lessons of a more general nature can also be drawn from the analysis of this paper.

Explores the concept of consumer confusion; what causes it, how consumers react to it and how marketers can influence it. The focus proposed differs from previous work by integrating the notions of stimulus overload and stimulus similarity as well as acknowledging conscious and unconscious confusion. The marketing determinants of confusion are classified and an inventory of confusion reduction strategies is discussed. Examines the marketing and policy implications of confusion, presents a checklist for brand managers to use when conducting a confusion audit and highlights areas for future research, especially into measurement of the concept.

Observes that consumer confusion is a concern for manufacturers because it can lead to weakened brand loyalty, a deterioration of brand image and lost sales. Argues that watch manufacturers in particular suffer from consumer confusion caused by product proliferation, imitation strategies and inaccurate/inadequate information. Consumer confusion is also of concern to retailers because it can distort retail image and lead to promiscuity. Reports on an empirical study using the accompanied‐shopping method conducted with 30 watch buyers. The study revealed the importance of the retail environment, store loyalty and the salesperson for the clarification of consumer confusion. Discusses implications for marketing action for both watch manufacturer and retailer.