DISCOVERING CONSUMER PREFERENCES ON THE MARKET OF DRINKING WATER CONSUMPTION

Year 2013, Volume: 5 Issue: 1, 425 - 435, 01.06.2013

Sanja Bijakšić BRano Markić Slavo Kukić

https://izlik.org/JA69ET82RD

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

References

• A.L. Yuille (2004), Dimension Reduction & PCA, Department Statistics Ucla.
• Husic, M., (2009), Lifestyle and Luxury Consumption, Doctoral thesis, School of Economics and Business in Sarajevo.
• Husić-Mehmedović, M., Kukić, S., Čičić, M. (2012), Consumer Behaviour, School of Economics and Business University of Sarajevo, Sarajevo.
• I.T, Jollife, (2008), Principal Component Analysis, Springer Verlag.
• Kantaradžić, M., (2003), Data mining, Concepts, Models, Methods, and Algorithms, Wiley-Interscience.
• Lawson, R. and S. Todd (2002), Consumer Lifestyles: A Social Stratification Perspective, Marketing theory, Volume 2(3), pp. 295-307.
• Markić, B. (2011), Integrating Theory and Practice: Knowledge Discovery and Unsupervised Learning, Meeting of Management Departments the Faculties of Economics, Faculty of Economics University of Split, September 2011,pp. 23-31.
• Schiffman, L.G. and L.L. Kanuk, (2004), Consumer Behavior, Pearson/Prentice Hall, 8. Edition.