FACTORS AFFECTING CONSUMER ETHNOCENTRISM, WITH FOCUS ON SERBIA

Abstract

The introduction provides a review of the context that favors ethnocentrism and leads to this phenomenon. The paper explains the meaning of the very term and provides the general characteristics of consumer ethnocentrism, connecting the emergence of this phenomenon with ethnocentrism itself. The subject of the paper is consumer ethnocentrism as an important category that affects the purchase of products, and therefore the overall market. In-depth consideration is given to the research of multiple works by authors who studied various factors that can influence consumer ethnocentrism to a greater or lesser extent, such as socio-psychological, demographic, economic, political and situational ones. The aim of the paper is to review literature that deals primarily with consumer ethnocentrism as a derivative of ethnocentrism, so as to gain a better insight into consumer behavior and needs, as well as the interests of manufacturers, for the purpose of formulating a successful marketing strategy.