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- Title
THE IMPACT OF CUSTOMER VALUES ON PURCHASING BEHAVIOUR: A CASE OF LATVIAN INSURANCE MARKET.
- Authors
Kaže, Valters
- Abstract
The objective of the paper is to analyze consumer value dynamics and related purchasing behaviour in Latvian insurance market over the last years applying consumer values approach, estimate anticipated future trends and provide suggestions to industry players for successful improved competitiveness. The paper analyzes Latvian insurance market consumer social values trends over the period of 2002- 2009 based on empirical sociological data from conducted value surveys representatively sampling the general population of Latvia to identify the causal relationship between the significant values of consumers and their choice of particular insurance products, brands and distribution channels. The paper provides interesting insights and empirical evidence on values being determinant for consumer choice and suggests priority areas of development for insurance market players in order to adapt to changing customer preferences and gain competitive advantages.
- Subjects
LATVIA; CONSUMER behavior; PURCHASING; INSURANCE exchanges; INSURANCE marketing; CONSUMER socialization
- Publication
Economics & Management, 2010, p605
- ISSN
1822-6515
- Publication type
Article