Volume 7, Issue 5 (May 2020), Pages: 79-86

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 Original Research Paper

 Title: Analysis of consumer markets and buyer behavior in petroleum products entrepreneurship

 Author(s): Liliana Doina Măgdoiu ¹, Ioana Carmen Rada ^2, *, Ioan Mircea Gordan ¹

 Affiliation(s):

 ¹Engineering and Management Department, Faculty of Electrical Engineering and Information Technology, University of Oradea, Oradea, Romania
 ²The National Bank of Romania, Bihor County Branch, Bucharest, Romania

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 * Corresponding Author. 

  Corresponding author's ORCID profile: https://orcid.org/0000-0003-0312-8790

 Digital Object Identifier: 

 https://doi.org/10.21833/ijaas.2020.05.010

 Abstract:

Entrepreneurship in the marketing of petroleum products must meet the needs and desires of consumers. However, "knowing an understanding of consumers" is not an easy task. There might be cases when consumers express their needs and desires and nevertheless act in the opposite way; they might be unaware of their true motivations or may react to factors that change their purchasing decision at the last moment. For reasons such as the aforementioned ones, marketers must perform a deep analysis of consumers' desires, perceptions, preferences, and buying behavior. Such a detailed examination will enable them to place on the market products with new features, set prices, choose distribution channels, elaborate advertising messages, and approach all the other elements of the marketing mix. In what follows, we shall focus on consumer’s behavior during the buying process. 

 © 2020 The Authors. Published by IASE.

 This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/).

 Keywords: Entrepreneurship, The marketing of petroleum products, Consumers’ behavior, Factors influencing consumers, Behavior, Making the decision to buy

 Article History: Received 15 November 2019, Received in revised form 13 February 2020, Accepted 18 February 2020

 Acknowledgment:

No Acknowledgment.

 Compliance with ethical standards

 Conflict of interest: The authors declare that they have no conflict of interest.

 Citation:

 Măgdoiu LD, Rada IC, and Gordan IC (2020). Analysis of consumer markets and buyer behavior in petroleum products entrepreneurship. International Journal of Advanced and Applied Sciences, 7(5): 79-86

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