IDEAS home Printed from https://ideas.repec.org/a/eeb/articl/v2y2016n1p75-94.html
   My bibliography  Save this article

The Psychology of Consumers and the Behaviour Analysis: A Case of Romanian Refrigerator Market

Author

Listed:
  • Emmanuel Olusegun Stober

    (Bucharest University of Economic Studies)

Abstract

What is the motive behind your choice of university? Why do you buy that new product? Where is your preferred shopping mall and when would you rather go shopping? Do your friends shop at the same place or in different locations? Marketing professionals always desire to have answers to these questions. Once they have these answers, they will have a much better chance of creating and communicating products that you and others that share the same preference will want to buy. This is what makes the study of consumer behaviour important. This paper is set out to understand what influences consumer behaviour in the refrigerator market. It is made of quantitative research, having a sample of 264 household consumers from 12 Counties of Romania. It reveals that in order for manufacturers to know consumers preference, they need to first understanding the customers’ need, having in mind the current family size, the eating habit, the ease of acquiring such product, total family income and available credit facility. The study shows that among other factors, price and promotions are the first important factors considered in the acquisition process, according to 94% of the respondents; this is followed by energy consumption (89%), while fridge and freezer capacity (88%) are then considered. Surprisingly, respondents would rather buy a refrigeration appliance on the basis of warranty (87%) than brand name (78%).

Suggested Citation

  • Emmanuel Olusegun Stober, 2016. "The Psychology of Consumers and the Behaviour Analysis: A Case of Romanian Refrigerator Market," Eastern European Business and Economics Journal, Eastern European Business and Economics Studies Centre, vol. 2(1), pages 75-94.
  • Handle: RePEc:eeb:articl:v:2:y:2016:n:1:p:75-94
    as

    Download full text from publisher

    File URL: http://eebej.eu/Stober-E-2016-The-Psychology-of-Consumers-and-the-Behaviour-Analysis-A-Case-of-Romanian-Refrigerator-Market-Eastern-European-Business-and-Economics-Journal-21-75-94/
    Download Restriction: for print copy of the journal 50 Euro, preview on web - free

    File URL: http://eebej.eu/2016v2n1/75-94.pdf
    Download Restriction: for print copy of the journal 50 Euro, preview on web - free
    ---><---

    As the access to this document is restricted, you may want to search for a different version of it.

    References listed on IDEAS

    as
    1. Pedro Bordalo & Nicola Gennaioli & Andrei Shleifer, 2013. "Salience and Consumer Choice," Journal of Political Economy, University of Chicago Press, vol. 121(5), pages 803-843.
    2. Wassily W. Leontief, 1933. "The Use of Indifference Curves in the Analysis of Foreign Trade," The Quarterly Journal of Economics, President and Fellows of Harvard College, vol. 47(3), pages 493-503.
    3. Jeff Bennett & Russell Blamey (ed.), 2001. "The Choice Modelling Approach to Environmental Valuation," Books, Edward Elgar Publishing, number 2028.
    Full references (including those not matched with items on IDEAS)

    Most related items

    These are the items that most often cite the same works as this one and are cited by the same works as this one.
    1. Tommaso Colussi & Ingo E. Isphording & Nico Pestel, 2021. "Minority Salience and Political Extremism," American Economic Journal: Applied Economics, American Economic Association, vol. 13(3), pages 237-271, July.
    2. Kirchler, Michael & Lindner, Florian & Weitzel, Utz, 2020. "Delegated investment decisions and rankings," Journal of Banking & Finance, Elsevier, vol. 120(C).
    3. Choi, Andy S., 2013. "Nonmarket values of major resources in the Korean DMZ areas: A test of distance decay," Ecological Economics, Elsevier, vol. 88(C), pages 97-107.
    4. Divine Ikenwilo & Sebastian Heidenreich & Mandy Ryan & Colette Mankowski & Jameel Nazir & Verity Watson, 2018. "The Best of Both Worlds: An Example Mixed Methods Approach to Understand Men’s Preferences for the Treatment of Lower Urinary Tract Symptoms," The Patient: Patient-Centered Outcomes Research, Springer;International Academy of Health Preference Research, vol. 11(1), pages 55-67, February.
    5. Dertwinkel-Kalt, Markus & Köster, Mats, 2017. "Local thinking and skewness preferences," DICE Discussion Papers 248, Heinrich Heine University Düsseldorf, Düsseldorf Institute for Competition Economics (DICE).
    6. Gu, Yiquan & Rasch, Alexander & Wenzel, Tobias, 2022. "Consumer salience and quality provision in (un)regulated public service markets," Regional Science and Urban Economics, Elsevier, vol. 93(C).
    7. Martin Van Bueren & Jeff Bennett, 2004. "Towards the development of a transferable set of value estimates for environmental attributes," Australian Journal of Agricultural and Resource Economics, Australian Agricultural and Resource Economics Society, vol. 48(1), pages 1-32, March.
    8. Heyes, Anthony & Lyon, Thomas P. & Martin, Steve, 2018. "Salience games: Private politics when public attention is limited," Journal of Environmental Economics and Management, Elsevier, vol. 88(C), pages 396-410.
    9. Arroyos-Calvera, Danae & Covey, Judith & McDonald, Rebecca, 2023. "Are distributional preferences for safety stable? A longitudinal analysis before and after the COVID-19 outbreak," Social Science & Medicine, Elsevier, vol. 324(C).
    10. Martinovici, A., 2019. "Revealing attention - how eye movements predict brand choice and moment of choice," Other publications TiSEM 7dca38a5-9f78-4aee-bd81-c, Tilburg University, School of Economics and Management.
    11. Karle, Heiko & Schumacher, Heiner & Vølund, Rune, 2023. "Consumer loss aversion and scale-dependent psychological switching costs," Games and Economic Behavior, Elsevier, vol. 138(C), pages 214-237.
    12. Khan, Md. Tajuddin & Kishore, Avinash & Joshi, Pramod Kumar, 2016. "Gender dimensions on farmers’ preferences for direct-seeded rice with drum seeder in India:," IFPRI discussion papers 1550, International Food Policy Research Institute (IFPRI).
    13. Cakici, Nusret & Zaremba, Adam, 2022. "Salience theory and the cross-section of stock returns: International and further evidence," Journal of Financial Economics, Elsevier, vol. 146(2), pages 689-725.
    14. Despina Gavresi & Anastasia Litina & Christos A. Makridis, 2021. "Split Personalities? Behavioral Effects of Temperature on Financial Decision-making," Discussion Paper Series 2021_16, Department of Economics, University of Macedonia, revised Nov 2021.
    15. Xiao Lin, 2020. "Feeling Is Believing? Evidence From Earthquake Shaking Experience and Insurance Demand," Journal of Risk & Insurance, The American Risk and Insurance Association, vol. 87(2), pages 351-380, June.
    16. Barrera, Oscar & Guriev, Sergei & Henry, Emeric & Zhuravskaya, Ekaterina, 2020. "Facts, alternative facts, and fact checking in times of post-truth politics," Journal of Public Economics, Elsevier, vol. 182(C).
    17. de Ayala, Amaia & Hoyos, David & Mariel, Petr, 2015. "Suitability of discrete choice experiments for landscape management under the European Landscape Convention," Journal of Forest Economics, Elsevier, vol. 21(2), pages 79-96.
    18. Kallas, Z. & Gómez-Limón, J.A., 2007. "Valoración De La Multifuncionalidad Agraria: Una Aplicación A Través Del Método De Los Experimentos De Elección/Agricultural Multifunctionality Valuation: A Case Study Using The Choice Experiment," Estudios de Economia Aplicada, Estudios de Economia Aplicada, vol. 25, pages 107-144, Abril.
    19. Barr, Rhona F. & Mourato, Susana, 2014. "Investigating fishers' preferences for the design of marine Payments for Environmental Services schemes," Ecological Economics, Elsevier, vol. 108(C), pages 91-103.
    20. Alan V. DEARDORFF, 2016. "What Do We (and Others) Mean by “The Terms of Trade”?," Turkish Economic Review, KSP Journals, vol. 3(2), pages 281-291, June.

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:eeb:articl:v:2:y:2016:n:1:p:75-94. See general information about how to correct material in RePEc.

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    If CitEc recognized a bibliographic reference but did not link an item in RePEc to it, you can help with this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: Valerijs (email available below). General contact details of provider: http://eebej.eu .

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service. RePEc uses bibliographic data supplied by the respective publishers.