The influence of product knowledge on consumer purchase decisions on the energy market: A European perspective
The influence of product knowledge on consumer purchase decisions on the energy market: A European perspective

Summary/Abstract: The main purpose of this study is to explore the influence of the product knowledge on consumer purchase decision. Consumers’ knowledge about the product can cause for companies competitive advantage and profitability. An understanding by the consumer of a good and services on energy market (price, distribution) have a positive influence on the possibility for the product to stand out from the mass of products in a profitable manner, together with the strategies of companies. The mediocrity of the consumer allows him to expect a certain degree of knowledge and orientation in reality, although, of course, it is assumed that they are limited. It can not be said that the knowledge of the average consumer is complete and professional and that he has no right to know certain things. Lack of full and reliable information when consumers make economic decisions excludes the possibility of making the right choice. The consumer behaves differently when buying goods of greater value than buying consumer goods. Summing up, when adopting the model of the average consumer, one should also bear in mind his right to reliable and not misleading information.

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