engleski

Clustering consumers of private labels in the growth stage of the product life cycle

Emerging markets are constantly recording the highest private label growth rates, and it is expected that their market importance will further grow in the next few years. In this paper we research Croatian consumers’ psychographic characteristics and attitudes towards private labels which are currently in the growth stage of the product life cycle. Research results show that all analyzed psychographic consumer characteristics have positive and statistically significant impact on consumers’ attitudes towards private labels. Characteristics of private label prone consumers are revealed and three clusters of consumers were determined by applying K-means cluster analysis. Suggestions for private label marketing management strategies in the growth stage of the product life cycle are given.

private labels; psychographic characteristics; growth stage of the product life cycle

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