Naslov
Predictors and effect of the consumer’s price sensitivity: the case of Croatia

Autori
Kursan Milaković, Ivana ; Mihić, Mirela

Vrsta, podvrsta i kategorija rada
Sažeci sa skupova, sažetak, znanstveni

Izvornik
Book of abstract / - , 2016

Skup
8th International Conference EBEEC 2016, ''The economies of Balkan and Eastern Europe countries in the changed world''

Mjesto i datum
Split, Hrvatska, 06.05.2016. - 08.05.2016

Vrsta sudjelovanja
Predavanje

Vrsta recenzije
Recenziran

Ključne riječi
Price sensitivity, demographic characteristics, attitudes towards advertising, shopping enjoyment, word-of-mouth communication

Sažetak
Given the importance of consumers’ sensitivities to price changes for a strategic marketing approach, as well as for the researched market characterized by the economic recession, the main purpose of this paper is to explore the predictors and outcome of the consumer’s price sensitivity. This paper investigates the influence of demographic variables and personal factors on the consumer’s price sensitivity, as well as its impact on the word-of-mouth sending information as an outcome. The research was conducted on the representative sample of thousand Croatian respondents/consumers using the personal telephone interviewing technique. Gathered data were analyzed with a variety of statistical methods. Exploratory factor analysis was applied for the factors/constructs’ extraction. The multiple regression analysis was used in order to examine the relationships among the variables and hypotheses. The results show that some demographic factors (gender and education) and both personal factors (attitudes towards the advertising and shopping enjoyment) directly influence the consumer’s price sensitivity. Furthermore, the results indicate that the price sensitivity is positively related to word-of-mouth communication (sending perspective). These research findings contribute to the consumer behavior and marketing communication theory and offer some practical marketing implications. Namely, the marketing experts (companies) can better understand the predictors and effect (outcome) of the consumer’s price sensitivity and its role for the marketing strategy. The comprehension of these factors enables the marketing experts to assess the aspects of their marketing mix, such as promotion and price, with respect to the characteristics of the consumers, and thus to coordinate their marketing activities (advertising strategy, point-of-purchase marketing) in order to remain competitive on the market. As a final point, the paper discusses the research limitations and provides some future research suggestions.

Izvorni jezik
Engleski

Znanstvena područja
Ekonomija

POVEZANOST RADA