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The impact of frugal products on the consumer decision-making process in developed markets – a comparative experiment using the example of Germany

  • Frugality has become a prerequisite for success in a low-resource environment, a reality exacerbated by the COVID-19 pandemic and the war in Ukraine. When it comes to consumer needs, the priorities affordability and functionality are increasingly coming into focus. This study examines how frugal products are performing in developed markets, whether they meet consumer needs, and ultimately if there is a demand for these products. The aim of this paper is to assess the status of Frugal Innovation (FI) in developed markets, using Germany as an example, and thus consumer behavior, in order to better evaluate the current status and related potentials based on this. The link between FI and environmental and social sustainability can be traced back to and limited to the minimal use of resources. Against the backdrop of the current economic and political situation, these factors represent one of the most significant competitive advantages of today. This multi-method experiment helps to understand the consumer behavior towards frugal products as well as the opinions and attitude towards it. As a result, it can be said that there is interest in innovation in general as well as FI. The respective buying decisions were balanced, what means that frugal products do not necessarily outperform non-frugal ones, but they are in strong competition. It can be concluded that there will be an increasing demand for frugal products in developed markets such as Germany, especially for certain product categories.

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  • The impact of frugal products on the consumer decision-making process in developed markets – a comparative experiment using the example of Germany
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Metadaten
Author:Madeleine Mussgnug
URN:https://urn:nbn:de:bsz:fn1-opus4-83372
Advisor:Eva Kirner
Document Type:Master's Thesis
Language:English
Year of Completion:2022
Granting Institution:Hochschule Furtwangen
Date of final exam:2022/05/12
Release Date:2022/07/04
Tag:Consumer behavior; Frugal innovation; Frugality; Purchase decision
Page Number:149
Degree Program:IMM - International Management
Functional area:Marketing
Open-Access-Status: Closed Access 
Licence (German):License LogoUrheberrechtlich geschützt