For citation:
Volodin, A. A. (2022). Impact of Opinion Leaders on Consumer Behaviour in Russian and Chinese markets. AlterEconomics, 19(4), 663-684. https://doi.org/10.31063/AlterEconomics/2022.19-4.6
Abstract:
When a company enters a foreign market, it needs to pay attention to the peculiarities of the local economic culture and the differences in the ways opinion leaders are perceived by the target audiences. This article focuses on the influence of opinion leaders on consumer behavior in the Russian and Chinese perfumery and cosmetic markets. Analysis of the research literature has shown that opinion leaders may influence consumer behaviour through the following: the quality of their argumentation, reputation, and attractiveness. Empirical analysis was based on the survey of the Russian company L’Etoile and its customers and the structural equation modeling method. It was found that the influence of all the above-mentioned factors on the consumer’s attitude to the brand and intention to make a purchase can be manifested differently through the intermediary factor of involvement. Regarding the Russian market, it was found that the main modeling factors are the attractiveness and reputation of a given opinion leader. Therefore, to influence consumers more effectively, it is necessary to target the intention to make a purchase through being involved in the processes of forming the company’s brand. In the Asian market, the opinion leader’s reputation and the quality of his or her argumentation are more important. The research findings can be useful to economists and practitioners interested in the optimization of applied models of consumer impact and selection of opinion leaders.
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