A Conceptual Overview of Consumer Behavior in the Contemporary Developing Nations

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Author(s): Ayantunji Gbadamosi (University of East London, UK)
Copyright: 2019
Pages: 30
Source title: Exploring the Dynamics of Consumerism in Developing Nations
Source Author(s)/Editor(s): Ayantunji Gbadamosi (University of East London, UK)
DOI: 10.4018/978-1-5225-7906-9.ch001

Keywords: Business & Management / Business Science Reference / Consumer Management / Marketing

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Abstract

Consumption is a global phenomenon that permeates virtually every walk of life in developed and developing nations. Consequently, extant literature is awash with postulations on consumer behavior in these contexts in varying forms. Most of the perspectives relating to developing nations explicate various issues that revolve around how the lower economic development in these nations affects their consumption when compared to what is in place in developed countries. Nonetheless, this chapter which classifies the key influences on consumer behavior into three factors, namely personal factors, socio-cultural factors, and marketing stimuli, argues that the consumption pattern of consumers in the contemporary developing nations tend to mirror that of developed nations in many ramifications. Thus, the chapter suggests that the consumption pattern of consumers in these nations is changing significantly by the day from what it used to be in response to the pace of changes in the global marketing environment such as the interconnectedness of people through technological advancement.

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A Conceptual Overview of Consumer Behavior in the Contemporary Developing Nations

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