An investigation into consumer power and the extent to which consumer behaviour can have an impact
(2014) An investigation into consumer power and the extent to which consumer behaviour can have an impact, no. 69.
Purpose: The purpose of this study is to analyse the aspects of consumer power from a consumer's perspective. It will also consider if consumer power is impacted through and affected by consumer behaviour. Design/Methodology/ Approach: This research study will be conducted using a quantitative questionnaire. The questionnaire will be distributed online in the UK with no restriction to gender and anyone who is over age of 18 was allowed to participate. A sample size of 100 was obtained to gain a wide range of answers. Findings: From the data analysis that was conducted it can be concluded that consumers do feel power in a number of ways and their behaviour can be seen to affect how they use this power. It was seen that for the most part the findings agreed with the existing literature. However when consumer power is not perceived, participants agreed that elements were felt to still be present. The internet and social media can be seen to be stimulating the information that is present and most participants felt more informed as a result. Practical Implications: This research has highlighted that consumer power is of importance and should be taken into consideration by organisations. A consumer's power is increased through the use of the internet and the ability to review products and services allows for organisations to be able to use even a negative review in a positive way adding to the value. Originality/value: This research adds to the current literature around the subject, and further emphasising the importance of consumer power. This further shows the need for this as an important aspect of business management