Eastern European Business and Economics Journal

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

 

 

Emmanuel Olusegun Stober

 

Stober E. 2016. The Psychology of Consumers and the Behaviour Analysis: A Case of Romanian Refrigerator Market. Eastern European Business and Economics Journal 2(1): 75-94.

 

Full text

 

Reviewers:

António CALEIRO, Universidade de Évora, Portugal;
David CANTARERO-PRIETO, University of Cantabria, Spain;
George VAGGELAS, University of the Aegean, Greece.

 

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%).

 

Keywords: Budget constraint, Consumer behaviour, Consumer preference, Refrigerator, Romania.

 

JEL classification: C83, D01, D12, L68

 

Language:

English

 

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