Multiple regression model of the consumers’ price sensitivity

Result code in IS VaVaI

<a href="https://www.isvavai.cz/riv?ss=detail&h=RIV%2F71226401%3A_____%2F20%3AN0100458" target="_blank" >RIV/71226401:_____/20:N0100458 - isvavai.cz</a>

Result on the web

<a href="http://soskin.info/userfiles/file/Economic-Annals-EL_Version/EA-XXI_183_5-6_2020.pdf" target="_blank" >http://soskin.info/userfiles/file/Economic-Annals-EL_Version/EA-XXI_183_5-6_2020.pdf</a>

DOI - Digital Object Identifier

<a href="http://dx.doi.org/10.21003/ea" target="_blank" >10.21003/ea</a>

Result language

angličtina

Original language name

Multiple regression model of the consumers’ price sensitivity

Original language description

All marketing decisions have to take into account the customer’s attitude to the price and consumers’ price sensitivity. Consumers’ price sensitivity depends on various factors: perceived quality and benefits, service quality, and of course, demographic characteristics. The main aim of this paper is to explore the influence of socio-demographic characteristics on the customers’ price sensitivity. Potential influencing factors and sample size were identified based on the literature search. The questionnaires were disseminated on-line in 2019. The majority of respondents were at the age group 25-54 years old (63%) which corresponds to the composition of the Czech population. Most of the respondents live in the family with two children (29%) or only with a partner (28%), 61% of the respondents have a master or bachelor’s degree.The variable Age shows high significance, which means, no surprisingly, that older customers are more price-sensitive than the younger ones. Talking about gender, females are slightly more price-sensitive than males. Then, we can state that the more family members has got the household, the more price-sensitive the customer is. In comparison with other independent variables, Income and Education show a negative correlation with customer price sensitivity, which means that the higher level of Income or Education is, the lower is the customer’s price sensitivity.Based on the multiple regression analysis, the author’s research proves that the most significant impact on the consumers’ price sensitivity have two independent variables - age (positive correlation) and income (negative correlation).

Czech name

—

Czech description

—

Type

J_SC - Article in a specialist periodical, which is included in the SCOPUS database

CEP classification

—

OECD FORD branch

50204 - Business and management

Project

—

Continuities

I - Institucionalni podpora na dlouhodoby koncepcni rozvoj vyzkumne organizace

Publication year

2020

Confidentiality

S - Úplné a pravdivé údaje o projektu nepodléhají ochraně podle zvláštních právních předpisů

Name of the periodical

Economic Annals-XXI

ISSN

1728-6220

e-ISSN

1728-6239

Volume of the periodical

183

Issue of the periodical within the volume

5-6

Country of publishing house

UA - UKRAINE

Number of pages

5

Pages from-to

60-65

UT code for WoS article

000612359700006

EID of the result in the Scopus database

2-s2.0-85100257047