Innovation Over Price: Understanding Generation Z’s Preferences in the Smartphone Market

Radu Gogolan () and Cristina Veith ()
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Radu Gogolan: The Bucharest University, Faculty of Administration and Business
Cristina Veith: The Bucharest University, Faculty of Administration and Business

Manager Journal, 2023, vol. 37, issue 1, 37-51

Abstract: The Fourth Industrial Revolution has ushered in a new era marked by significant technological advancements and profound changes in consumer behavior, particularly among Generation Z. This article explores the implications of these shifts for marketing strategies and product development, focusing on the evolving expectations and preferences of consumers in the digital age. Through an in-depth literature review, we examine the transformative impact of digital technologies, such as the Internet of Things (IoT), Artificial Intelligence (AI), and blockchain, on economic and social systems. The study further delves into the characteristics of Generation Z, highlighting their demand for rapid interactions, personalized services, and technology-driven solutions. Utilizing a combination of factorial analysis and statistical testing, we verify hypotheses concerning Generation Z’s prioritization of technological innovation over price, the significance of brand and specific product features in their purchasing decisions, and the paramount importance of battery life and charging speed in smartphone selection. Our findings reveal a complex relationship between income levels and purchasing intentions, emphasizing the need for companies to adapt their marketing strategies to meet the nuanced demands of this demographic. This research underscores the necessity of continuous adaptation and innovation in marketing to successfully navigate the challenges and opportunities presented by the Fourth Industrial Revolution.

Keywords: Fourth Industrial Revolution; Generation Z; Consumer Behavior; Marketing Strategies; Technological Innovation; Smartphone Preferences (search for similar items in EconPapers)
JEL-codes: D12 M31 (search for similar items in EconPapers)
Date: 2023
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