Sustainable brand as consumer behaviour influencing factor in Latvia

Research output: Contribution to conferenceAbstractpeer-review

Abstract

Objectives was to define sustainability in the context of business, identify the factors that motivate and determine the sustainability of the company, find out factors that influence consumer behaviour when choosing a sustainable product. According to the United Nations definition, sustainable development is "meeting the needs of the present without compromising the ability of future generations to meet their own needs". This includes social, environmental and economic aspects, which must create synergies with each other, to create the prospect of sustainable development.Monographic method - to outline the nature of consumer behaviour and sustainable branding information on sustainability theory is collected using diverse literature. Secondary data analysis method - existing data on the development of sustainable business in Latvia and Europe is studied. Qualitative research method: expert interviews - expert interviews is conducted in order to evaluate sustainable brand perspectives in Latvia. There are three important aspects that influence consumer decision in Latvia: use of natural raw materials in production, recycling and communication, but main factors influencing consumer behaviour, when choosing a sustainable brand, are marketing communications and price of product. In conclusion, in Latvia the most developed sectors in terms of sustainability are energy, forestry, agriculture and the banking sector, perspectives are in food, energy, finance and transport sectors. 1. Ministry of Environment Protection and Regional Development ,Environmental Protection Department of Latvia, partnering with World Wide Fund for Nature and Latvian entrepreneurs, need to implement educational and informative sustainable marketing campaigns on the importance of sustainable consumption. 2. In communication with consumers, use opinion leaders or Influencer marketing. This ensures that information is passed on quickly and specifically to the target audience, as well as wide visibility, without investing much money, as would be the case when using communication channels such as: television, press, radio and others.
Original languageEnglish
Pages119
Publication statusPublished - 24 Mar 2021
EventRSU Research week 2021: PLACES - Rīga, Latvia
Duration: 25 Mar 202125 Mar 2021
https://rw2021.rsu.lv/conferences/places

Conference

ConferenceRSU Research week 2021: PLACES
CountryLatvia
CityRīga
Period25/03/2125/03/21
Internet address

Field of Science

  • 5.2 Economy and Business

Publication Type

  • 3.4. Other publications in conference proceedings (including local)

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