Study of the Relationship between Value Orientations and Consumer Preferences of Young Consumers in Russia

• Published in: Journal of Applied Economic Sciences (JAES) Vol. XII; no. 53; pp. 2012 - 2027
• Main Author: SIDORCHUK, Roman
• Format: Journal Article
• Language: English
• Published: ASERS Publishing 2017
• Subjects: Business Economy / Management; Economy; Marketing / Advertising; National Economy; value reference point; young audience; human values; Rokeach’s value theory; activity reference point; consumer value; marketing 30; consumer preferences; Schwartz’s value theory; marketing theory
• ISSN: 1843-6110; 2393-5162

In the context of growing competition, companies are becoming increasingly interested in the segment of young consumers, the dimensions of which are significant and interesting in many sectors of economy. Student audience can be considered the most active group of young consumers, influencing consumer behavior of the entire youth segment. The influence of the consumers’ system of values on their consumer preferences is an important issue for the marketing impact on the youth segment. This paper studies the influence of the system of “human values”, as the values of a higher level according to Schwartz, on consumer preferences of the young audience using ρ-Spirman’s rank-correlation coefficients. The purpose of this research was to study the relationship between the values of the higher level and consumer preferences of young consumers as the basis for determining the degree of expression of higher level values that affect consumer preferences. The survey was conducted online by means of a structured questionnaire, developed by modifying and supplementing Schwartz’s questionnaire. 239 respondents aged from 17 to 22 took part in the study. This study confirms the possibility of applying Schwartz’s value theory for ranking the young audience’s values of the higher level. The obtained results demonstrated the possibility of obtaining a significant motivational value, which determines consumer preferences of the young audience in the selected product categories (markers).