Features of the formation of consumer choice in modern retail trade

2021 ◽  
pp. 11-17
Author(s):  
Polina Alekseevna Zaborina
Keyword(s):  
Consumer Choice ◽  
Consumer Preferences ◽  
Target Audience ◽  
Retail Trade ◽  
Consumer Habits

Today, the process of communication with potential consumers is largely determined by the preferences of the target audience. The article discusses such an approach as the theory of generations, designed to systematize consumer preferences by identifying generations of consumers. Consumer habits of representatives of different generations are considered. A number of recommendations for attracting consumers, based on the identified preferences, are given.

A Framework for Choice Modeling in Usage Context-Based Design

2010 ◽  
Author(s):  
Lin He ◽  
Christopher Hoyle ◽  
Wei Chen ◽  
Jiliang Wang ◽  
Bernard Yannou
Keyword(s):  
Data Collection ◽  
Product Design ◽  
Consumer Choice ◽  
Choice Model ◽  
Consumer Preferences ◽  
Choice Modeling ◽  
Product Performance ◽  
Choice Data ◽  
Modeling Framework ◽  
Usage Context

Usage Context-Based Design (UCBD) is an area of growing interest within the design community. A framework and a step-by-step procedure for implementing consumer choice modeling in UCBD are presented in this work. To implement the proposed approach, methods for common usage identification, data collection, linking performance with usage context, and choice model estimation are developed. For data collection, a method of try-it-out choice experiments is presented. This method is necessary to account for the different choices respondents make conditional on the given usage context, which allows us to examine the influence of product design, customer profile, usage context attributes, and their interactions, on the choice process. Methods of data analysis are used to understand the collected choice data, as well as to understand clusters of similar customers and similar usage contexts. The choice modeling framework, which considers the influence of usage context on both the product performance, choice set and the consumer preferences, is presented as the key element of a quantitative usage context-based design process. In this framework, product performance is modeled as a function of both the product design and the usage context. Additionally, usage context enters into an individual customer’s utility function directly to capture its influence on product preferences. The entire process is illustrated with a case study of the design of a jigsaw.

scholarly journals Przestrzenne zróżnicowanie wielkopowierzchniowych sieci handlowych w województwie dolnośląskim i jego uwarunkowania

2010 ◽  
Vol 6 ◽  
pp. 294-307
Author(s):  
Paweł Brezdeń ◽  
Waldemar Spallek
Keyword(s):  
Economic Development ◽  
Population Density ◽  
Urban Areas ◽  
Consumer Preferences ◽  
Spatial Diversity ◽  
Retail Trade ◽  
Socio Economic Development ◽  
Dynamic Growth ◽  
Near Future ◽  
Trade Market

This paper deals with the spatial diversity of modern channels of retail trade represented by large shops (such as hypermarkets, supermarkets and discount shops) in the Dolnośląskie Voivodeship. This is presented against the background of the main changes to which Polish retail trade has been subjected in recent years.Despite the dynamic growth of a large retail network in Poland, the internal trade market, especially that of the grocery market, is one of the most fragmented in Europe. This still developing market is where the processes of consolidation and creation of complex networks of large shops will take place in the near future. Changing consumer preferences in favour of modern commercial buildings, but also the investment of foreign and, increasingly, Polish capital have led to this situation.The article sets out the conditions of distribution of large retail areas in the Dolnośląskie Voivodeship, which are: population density, the concentration of population (urban areas, cities), level of socio-economic development and the proximity of the German-Polish border. It shows the position of the Dolnośląskie region alongside the rest of the country within the parameters of the research. The Dolnośląskie Voivodeship is a region with a high density of retail space. Its accessibility ratio’s value is slightly lower than in those provinces with the highest values of the index, as a result of its higher population density.

scholarly journals Analysis of consumer habits and attitudes on the Hungarian beef and rabbit market

2009 ◽  
Vol 3 (1-2) ◽  
pp. 67-70 ◽  
Author(s):  
Zoltán Szakály ◽  
Orsolya Szigeti ◽  
Viktória Szente
Keyword(s):  
Consumer Preferences ◽  
Quality Parameters ◽  
Added Value ◽  
Animal Products ◽  
Unique Character ◽  
Consumer Segment ◽  
Image Building ◽  
Rabbit Meat ◽  
Consumer Habits ◽  
Nutritional Benefits

As a consortium partner the authors took part in a research project aiming at the development of high added value, healthy and environment friendly animal products. From among the products developed by the consortium (rabbit meat, omega3-fatty acid enriched beef, goose liver from non forcible feeding, selenium-, vitamin-E and natural color enriched eggs) the present study describes the results concerning beef and rabbit meat. The given products are chosen because they are produced in and exported from Hungary in considerable quantities and their competitiveness can be further improved. In order to able to map the consumer preferences a 300 count nationwide, representative, questionnaire based survey was designed and performed. Actual products were tested by focus groups and professional interviews. Beside the specific features of the products a common character is that the marketing strategy focuses on the distinctive nutritional benefits and other quality parameters that seem to be of crucial importance for the targeted consumer segment. Their unique character and health protecting effects make their branding and using community labeling easy. Their positioning points toward the prestige products therefore consumers tend to accept higher prices. In marketing communication the image building advertisement can be a common goal.

scholarly journals CONSUMER PREFERENCES AS A BASIS FOR CREATING A BRAND POSITION FOR WINE PRODUCTS

2021 ◽  
pp. 153-166
Author(s):  
Olga Mikhailovna Khamidova ◽  
Oksana Nikolaevna Ulanovskaya
Keyword(s):  
Consumer Goods ◽  
Mass Production ◽  
Consumer Preferences ◽  
Marketing Research ◽  
Product Line ◽  
Target Audience ◽  
Behavioral Characteristics ◽  
Wine Making ◽  
Brand Position ◽  
Additional Value

The relevance of the article lies in focusing on the positioning factors when creating an attractive wine brand for the target audience. In other words, the creation of a more advantageous brand position of a product and / or product line in comparison with competitors’ products based on research on consumer preferences, perceptions and cultural and behavioral characteristics. To achieve the goal of the article, the genesis of the terms was revealed — brand, branding and positioning; the concept of «brand position» was proposed for use in marketing of consumer goods, the needs for wine-making products at all levels of the pyramid of A. Maslou are considered; a marketing research of consumer preferences of the target audience was carried out. The study revealed that in the global competitive market for mass production, communications and distribution, the brand of a product becomes a powerful tool that creates additional value and stability for products and firms.

New Product Preannouncement: Phantom Products and the Osborne Effect

2019 ◽  
Vol 65 (8) ◽  
pp. 3776-3799 ◽  
Author(s):  
Ram Rao ◽  
Ozge Turut
Keyword(s):  
Reference Point ◽  
Consumer Choice ◽  
Optimal Strategy ◽  
Consumer Preferences ◽  
Experimental Studies ◽  
New Product ◽  
Conventional Wisdom ◽  
Significant Lowering ◽  
Quality Product ◽  
Current Product

The mere preannouncement of a new product can affect consumer choice, thus complicating preannouncement strategy. This is because a preannounced product that is unavailable immediately can still be one of the alternatives in a consumer’s mind at the time of choice. Such unavailable products, also known as phantom products, influence the reference point that consumers compare alternatives to when making a choice, as has been widely demonstrated in experimental studies. Thus, in addition to encouraging consumers to postpone purchase in favor of a future product, preannouncement also changes their preference for the currently available products when consumers do not prefer to postpone. In this paper we explore preannouncement strategy by analyzing a model that incorporates the effect of new product preannouncement (NPP) on consumer preferences and compare the results with a benchmark case in which consumer preferences across the existing products are not influenced by preannouncement. We find that when we take into account the effect of NPP on consumer preferences across the existing products, although postponement of purchase by some consumers remains beneficial, the preference for the current product offering with a lower quality can suffer so much that the significant lowering of current profits is not offset by future gains. Thus, preannouncement may no longer be the optimal strategy for the firm with a lower-quality product, which in turn explains the “Osborne effect.” Our results also challenge the conventional wisdom in new product preannouncement literature. This paper was accepted by Juanjuan Zhang, marketing.

Analysis of consumer preferences of buyers

Vsyo o myase ◽  
2020 ◽  
pp. 3-5
Author(s):  
Osyanin D.N. ◽  
◽  
Petrunina I.V. ◽  
Keyword(s):  
Statistical Data ◽  
Consumer Preferences ◽  
Meat Products ◽  
Retail Trade ◽  
Pork Production ◽  
Manufactured Products ◽  
Production Growth ◽  
Main Production ◽  
The Russian Federation ◽  
High Level

The paper presents statistical data that reflect pork production in the Russian Federation. It is noted that the main production growth in this meat type in agricultural organizations is conditioned by the high level of state support in the regions, modernization of existing pig complexes and construction of new ones. Moreover, according to our data, a drop in population’s income (more than by 5 %) is expected at the end of 2020 that would be a record since 2014. Therefore, as representatives of the largest companies notice, measures to support consumer demand for meat and meat products should be taken, and the assortment of the manufactured products should be optimized. These measures will allow enterprises to increase sales of meat and meat products and improve profitability. The study is aimed at obtaining topical information about pork consumers. The results of the study will be of current interest both for pork producers and for companies engaged in distribution, wholesale and retail trade.

»Consumer Preferences and Consumer Choice

Economics ◽  
2006 ◽  
pp. 253-280
Author(s):  
Paul Krugman ◽  
Robin Wells
Keyword(s):  
Consumer Choice ◽  
Consumer Preferences

Classification of Retail Chain services

2021 ◽  
pp. 55-60
Author(s):  
Yu. Valeeva
Keyword(s):  
Service Providers ◽  
Consumer Preferences ◽  
Retail Trade ◽  
Network Services ◽  
Consumer Market ◽  
Trade Network ◽  
Agricultural Producers ◽  
Trade Networks ◽  
Retail Chain

The relevance of the development of theoretical provisions for the classification of services of retail trade networks is predetermined by the modern transformation of the trade industry, where the services provided by the chains are formed on the basis of building communications with all participants in the consumer market. The main purpose of the article is to generalize the approach to the classification of services and the implementation of a value-oriented and process approach to the content and identification of the classification features of services of retail trade networks. The article presents modern foreign and domestic approaches to the classification of retail trade services. Certain features are highlighted and the expediency of taking into account the network forms of organizing trade services in the formation of classification signs is indicated. In the presented article, the service of a retail trade network is considered as a result, an action and a process. On the other hand, the retail chain service is viewed through the prism of value for suppliers, end-users and owners on the network. The implementation of the value approach allows taking into account consumer preferences, as well as the interests of the network owners in the development of retail facilities, ensuring the quality of trade services, developing the infrastructure of the territory, paying attention to the requests and proposals of agricultural producers, processors, service providers. which create services according to the format of goods circulation. The application of the process and value approach made it possible to single out the components of the service and propose their own classification. This classification will allow, in the future, to develop an appropriate methodology for assessing the effectiveness of retail trade network services, as well as to develop management decisions at the enterprise level, to build more effective communications with all participants in the consumer market.

Commodities and the Import Trade in Early Plantation Ulster

2020 ◽  
pp. 033248932096438
Author(s):  
Brendan Scott
Keyword(s):  
Seventeenth Century ◽  
Consumer Preferences ◽  
New Wave ◽  
County Down ◽  
Settler Society ◽  
Consumer Habits ◽  
Import Trade

As a new wave of British settlers moved into Ulster following the plantation there in the early seventeenth century, ports, towns, markets and fairs were both established and further developed. The survival of the port books for Londonderry, Coleraine, Carrickfergus and the Lecale ports of County Down for the years 1612–15 offers detailed information of goods imported into Ulster which affords us insights into the consumer habits and preferences of the British settlers now living in that province. While it was hoped by some that the introduction of a new market and trade culture would have a ‘civilising’ effect upon the Gaelic Irish, evidence of consumer preferences tells a somewhat different story, which a study of Ulster’s import trade and settler society in early Plantation Ulster can illustrate.

scholarly journals Preference Dynamics in Sequential Consumer Choice with Defaults

2020 ◽  
Vol 57 (6) ◽  
pp. 1096-1112
Author(s):  
Bas Donkers ◽  
Benedict G.C. Dellaert ◽  
Rory M. Waisman ◽  
Gerald Häubl
Keyword(s):  
Consumer Choice ◽  
Consumer Preferences ◽  
Spillover Effects ◽  
High Price ◽  
Product Choice ◽  
Sequential Decision ◽  
Induced Changes ◽  
The Impact ◽  
Practical Implications ◽  
Decision Settings

This research examines the impact of defaults on product choice in sequential-decision settings. Whereas prior research has shown that a default can affect what consumers purchase by promoting choice of the preselected option, the influence of defaults is more nuanced when consumers make a series of related choices. In such a setting, consumer preferences may evolve across choices due to “spillover” effects from one choice to subsequent choices. The authors hypothesize that defaults systematically attenuate choice spillover effects because accepting a default is a more passive process than either choosing a nondefault option in the presence of a default or making a choice in the absence of a default. Three experiments and a field study provide compelling evidence for such default-induced changes in choice spillover effects. The findings show that firms’ setting of high-price defaults with the aim of influencing consumers to choose more expensive products can backfire through the attenuation of spillover. In addition to advancing the understanding of the interplay between defaults and preference dynamics, insights from this research have important practical implications for firms applying defaults in sequential choices.

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