DISCOVERING CONSUMER PREFERENCES ON THE MARKET OF DRINKING WATER CONSUMPTION

Abstract

The goal of the research is to analyze the market supply of drinking water and consumers choice behavior when are buying the drinking water packed in the bottles. The paper is result of empirical research where the data are collected through the survey and the analysis was conducted using the method of principal component analysis. The respondents are evaluated on ordinal scale the importance of each criterion when deciding whether or not to by the product. Principal component analysis captures the essence of correlation among data and reduces the n-dimensional space to a few most important components that represent consumer preferences

Keywords

• consumer behavior, knowledge discovering, principal component analysis

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