Scholarly record

CONSUMER BEHAVIOUR IN BUYING DECISION-MAKING PROCESS IN NON-PRESCRIPTION DRUG MARKET

Anda Batraga, J. Salkovska, J. Duboviks, A. B. Siga

Abstract

The pharmaceutical sector is one of the most regulated sectors in the world. In spite of various legislative constraints, companies are spending millions for drug promotions in the market in the fight for consumers, their attention and loyalty. Nowadays the competition between companies is very high especially when several analogous pharmaceutical products with the same effect on human health can exist simultaneously in the market. Therefore, it becomes important for companies to understand consumer behavior in the buying decision-making process and the ability to influence this process in order to get benefits. The aim of the study is to evaluate the buying decision-making process of Latvian consumers in the non-prescription drug market and the factors influencing this process, and to develop proposals based on the results of the study, which would allow producers and retailers to influence consumer behavior in the non-prescription drug market. In order to obtain data and analyze the consumer behavior in the buying decision-making process, a survey of residents of Latvia was carried out and correlation analysis was used. Results of the research give a deeper understanding of consumer behavior in the buying decision-making process on the non-prescription drug market. Results of the survey show that, unlike cultural and psychological factors, consumer behavior in buying decision-making process in the non-prescription drug market is more affected by social, individual and situational factors. Based on results of the study, authors developed proposals that allow non-prescription drug manufacturers and retailers to influence consumerВ’s behavior in the buying decision-making process in the non-prescription drug market.

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