Perceptions of the Consumer on Product Based Innovation in the Context of Hedonic and Utilitarian Consumption: An Empirical Research

Abstract

In the current market where severe competition, rapid technological changes and developments take place in a global platform, companies must adapt to the developments and changes to be able to continue their being, not to fall behind time and to increase their profits. Companies which know their customers well, satisfy their expectations, needs and present the best products and services which best fit their wants, will gain competitive advantage. As well as having a need for products and services, also detecting what this need really means to the consumers are among important factors which generate consumers buying behaviour. The concept of “innovation” which is an important factor in consumers buying behaviour, is gradually increasing it’s importance. Companies aim at being innovative in their long term strategies, and being perceived like this by the consumers. Especially, perceived product based innovation by consumers is related with concepts as personal identity, social status, hedonic and utilitarian shopping. In this study, it is aimed to detect the interactions between; product based innovation, consumers personal innovation tendency, the meaning of purchase and consumption in means of identity, hedonic and utilitarian consumption behaviour. For this, a survey was applied to university students. The relations between the variables were defined by the analysis. In this concept, relations were detected between; product based innovation, hedonic and utilitarian consumption, social identity function of consumption and personal innovation tendencies.