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Econometric analysis of consumer choice in the car market

Marina Gorshkova () and Ashot Mirzoyan ()
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Marina Gorshkova: Department of Economics, Lomonosov Moscow State University
Ashot Mirzoyan: Department of Economics, Lomonosov Moscow State University

No 46, Working Papers from Moscow State University, Faculty of Economics

Abstract: The car market, like many others, needs a detailed study from the consumer's choice and preferences,because this aspect allows you to get to know the buyer better,understand what is important to him, and in which direction the industry as a whole is moving. The purpose of this work is to identify the determinants that determine the features of demand in the current economic situation in the personal transport market in Russia. The following analysis tools are used: clustering by the k means method, factor analysis by the principal components method,ordered logistic regression. Using the example of the Russian segment of the automotive market, 3 groups were identified and their preferences described, as well as the main factors influencing consumer choice among motorists and those who plan to buy personal transport were identified.

Keywords: Car market; consumer behavior; consumer choice; clustering; principal component method; logistic regression (search for similar items in EconPapers)
JEL-codes: L10 L62 (search for similar items in EconPapers)
Pages: 28 pages
Date: 2022-11
New Economics Papers: this item is included in nep-cis, nep-dcm and nep-tre
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