Year: 2021
Type: dissertation
Study design: Observational Study
Abstract: COVID-19 caused a lot of changes in the world. The aim of this thesis is to find out how the pandemic affected the consumer behavior of Finnish students. The findings will identify how students re-evaluated their values and priorities. These results can be helpful for companies’ interaction with their target audience. \n \nTheoretical part of this study helps to understand the concept of consumer behavior and the factors that affect it. This is supported by an explanation of the consumer decision-making process. Maslow’s hierarchy of needs and herd mentality are presented to investigate crisis-related human behavior. Recent studies are introduced for a better understanding of the topic and as sources of secondary data. \n \nSecondary data is gathered through electronic articles and published statistics about the economic situation in Finland and emerging consumer behavioral patterns connected to the COVID-19 pandemic. \n \nPrimary data is collected through an online self-administered survey that was distributed among Finnish Bachelor’s Degree students at LAB University. The survey collected 350 responses. The analysis of data gathered showed that students’ consumer behavior did change. The most noticeable change happened in the food industry. Clothing, cosmetics, and electronics are other areas that experienced change. The outcome of the study may be helpful to companies whose target audience is students. The findings can be utilized in companies’ strategies to positively influence consumers and gain consumer attraction.
Source: Theseus (Ammattikorkeakoulujen)
Author: Ekaterina Tsvetkova
Language: English
Topic: COVID-19 Pandemic Impacts
Subfield: Economics and Econometrics
Domain: Social Sciences
Open Access status: green
OpenAlex ID: W3175129389