Role of MNCs in Changing Preferences for Food Consumption in Russia under Import Substitution

Veronica Yu. Chernova, Vasily S. Starostin, Galina V. Butkovskaya and Alexander M. Zobov

European Research Studies Journal, 2017, vol. XX, issue 4B, 158-166

Abstract: The paper analyses the changes in the food market in terms of supply and demand in the context of import substitution and a decrease in the purchasing power of the population. It explores the reasons behind a rise in food prices, studies consumer preferences and criteria for choosing food products, and reveals the distinguishing features of Russian consumers’ behavior in the food market under the conditions of the import substitution policy. The article shows that, in general, multinational companies engaged in the food industry have managed to successfully integrate into the import substitution policy in the context of post-crisis development.

Keywords: import substitution; multinational corporations; local brands; global brands; customer loyalty; food industry; consumer stereotypes; consumer preferences. JEL Classification: D12; L66; Q17. (search for similar items in EconPapers)
Date: 2017
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:ers:journl:v:xx:y:2017:i:3b:p:158-166

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