Journal of Business and Law

ISSN: 2521-439x

Volume 5 / Issue 1

Demographic and Psychological Determinants of Consumerism and Purchase Intention in the Middle East Markets

Authors

Fadye Saud Alfayad

 

Abstract

This study explores the way in which the market research function can facilitate entry into developing markets by analysing the demographic, and psychological parameters of the Arab consumers in the gulf countries. After collecting data from real participants (n=601), partial least squares approach to structural equation modelling (PLS-SEM) was used to analyse the latent variables and their indicators. The results indicate that developing markets benefit from in-depth market research functions to flesh out the plan for a product, service or brand. This research function should utilize demographic data to segment the target market into more manageable sections. The psychological determinants which defined the marketing strategies developed ensured that the results were more cost-effective. Although consumer’s psychologicallybased behaviour and their demographic variables affect performance in emerging markets, behavioural intention to buy brands in the countries of the Gulf Cooperation Council has the greatest effect. Therefore, affinity marketing with luxurious products would be lucrative if it served such customers.

DOI: 10.51958/aaujbl2021v5i1p4