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Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products

A special issue of Energies (ISSN 1996-1073). This special issue belongs to the section "C: Energy Economics and Policy".

Deadline for manuscript submissions: closed (31 January 2023) | Viewed by 25681

Special Issue Editor

Prof. Dr. Agnieszka Izabela Baruk

E-Mail Website
Guest Editor
Department of Management Systems and Innovation, Faculty of Management and Production Engineering, Lodz University of Technology, 90-924 Łódź, Poland
Interests: marketing; B2C marketing; marketing management; prosumption; consumer’s behaviors; internal marketing; personnel marketing; marketing research; modern concepts of marketing

Special Issue Information

Dear Colleagues,

The contemporary market, including the consumer market of energy products, is characterized by increasing complexity and volatility and, thus, by increasing unpredictability. Several of these changes are short term in nature, taking the form of seasonal trends, while other changes are associated with a much longer timeframe, resulting in a stronger impact on all market participants. The long-term changes in the consumer market include the interaction of final purchasers with additional entities, including offerors and other purchasers. Such cooperation is part of the “value co-creation” paradigm that has become the basis for a shift in thought concerning the market roles fulfilled by individual market participants, particularly consumers and final purchasers as well as offerors (producers, retailers, service providers). Of course, a complete redefinition of the degree and scope of activity traditionally assigned to consumers, final purchasers, and offerors is only one of the many essential challenges faced by each of them in the contemporary consumer market. Among the most important challenges, one can list many other phenomena, including those of a social, economic, cultural, political, etc. nature. Each has a direct or indirect impact on the participants of the contemporary consumer market, determining their attitudes and behaviors especially related to the energy products. This call for papers for “Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products” is seeking submissions that allow analyzing the contemporary consumer market from numerous perspectives and aim toward showing the different research approaches to the increasing challenges and visible trends in the market of energy and other products as well as the dependencies between them. Submitted papers can take the form of either regular research papers or reviews of relevant research.

Prof. Dr. Agnieszka Izabela Baruk
Guest Editor

Manuscript Submission Information

Manuscripts should be submitted online at www.mdpi.com by registering and logging in to this website. Once you are registered, click here to go to the submission form. Manuscripts can be submitted until the deadline. All submissions that pass pre-check are peer-reviewed. Accepted papers will be published continuously in the journal (as soon as accepted) and will be listed together on the special issue website. Research articles, review articles as well as short communications are invited. For planned papers, a title and short abstract (about 100 words) can be sent to the Editorial Office for announcement on this website.

Submitted manuscripts should not have been published previously, nor be under consideration for publication elsewhere (except conference proceedings papers). All manuscripts are thoroughly refereed through a single-blind peer-review process. A guide for authors and other relevant information for submission of manuscripts is available on the Instructions for Authors page. Energies is an international peer-reviewed open access semimonthly journal published by MDPI.

Please visit the Instructions for Authors page before submitting a manuscript. The Article Processing Charge (APC) for publication in this open access journal is 2600 CHF (Swiss Francs). Submitted papers should be well formatted and use good English. Authors may use MDPI's English editing service prior to publication or during author revisions.

Keywords

  • challenges in the contemporary consumer market
  • phenomena in the contemporary consumer market
  • consumer trends
  • market roles of contemporary consumers and offerors
  • co-creation of marketing values
  • consumer market of energy products
  • co-creation of energy products
  • cooperation of energy consumers and offerors
  • protecting the natural environment
  • protecting human health

Published Papers (9 papers)

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Editorial

Jump to: Research, Review

3 pages, 184 KiB  
Editorial
A Few Words of Introduction to a Holistic Approach to the Energy Market
by Agnieszka Izabela Baruk
Energies 2023, 16(12), 4664; https://0-doi-org.brum.beds.ac.uk/10.3390/en16124664 - 12 Jun 2023
Viewed by 722
Abstract
The energy market currently faces exceptionally big challenges [...] Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)

Research

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20 pages, 1320 KiB  
Article
Crisis Index Prediction Based on Momentum Theory and Earnings Downside Risk Theory: Focusing on South Korea’s Energy Industry
by Jeonghwa Cha, Kyungbo Park, Hangook Kim and Jongyi Hong
Energies 2023, 16(5), 2153; https://0-doi-org.brum.beds.ac.uk/10.3390/en16052153 - 23 Feb 2023
Cited by 1 | Viewed by 1220
Abstract
(1) Background: The economic impact of supply and demand in the energy industry can be seen throughout raw material production, processing and distribution. The purpose of this study is to provide academic information to prepare for crisis management through prediction using indices. (2) [...] Read more.
(1) Background: The economic impact of supply and demand in the energy industry can be seen throughout raw material production, processing and distribution. The purpose of this study is to provide academic information to prepare for crisis management through prediction using indices. (2) Method: In order to predict a crisis of the energy industry, the Crisis Index presented by the Korea Institute of Science and Technology Information was utilized instead of the economic indicators that have hitherto been widely used. Specifically, we propose a new forecasting model based on the concept of economic momentum theory used in financial research and the proper weighting of the earning downside risk theory. Then, statistical empirical analysis was performed to verify the new prediction model. (3) Results: As the result of the empirical analysis, the risk index prediction model proposed in this study showed statistically significant results in predicting the future risk index. (4) Conclusions: This study proposed a risk prediction model using an index and thereby provides an academic analysis of the predictability of numerous indicators created for various purposes and, furthermore, provides implications for predicting crises in the Korean energy industry. Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)
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31 pages, 2538 KiB  
Article
Consumers’ Attitude towards Renewable Energy in the Context of the Energy Crisis
by Iuliana Petronela Gârdan, Adrian Micu, Carmen Adina Paștiu, Angela Eliza Micu and Daniel Adrian Gârdan
Energies 2023, 16(2), 676; https://0-doi-org.brum.beds.ac.uk/10.3390/en16020676 - 06 Jan 2023
Cited by 9 | Viewed by 2669
Abstract
The use of renewable energy (RE) is considered one of the most important topics of discussion regarding sustainable consumption and environmental protection nowadays. More than ever, a new energy crisis is forming due to the effect of political and military conflicts that have [...] Read more.
The use of renewable energy (RE) is considered one of the most important topics of discussion regarding sustainable consumption and environmental protection nowadays. More than ever, a new energy crisis is forming due to the effect of political and military conflicts that have already been in place for some time. Our research envisages using a sample of 1126 respondents for the validation of a theoretical model that highlights the complex relationship between specific variables, such as concern for the environment, knowledge about renewable energy, perceived utility regarding RE usage, ease of use regarding RE, attitude toward RE utilization and behavioral intentions to use RE. The results show that attitudes towards renewable energy consumption are strongly influenced by the other latent constructs with perceived utility, social influence and concern for the environment being among the most determining ones. Behavioral intentions and the actual consumption behavior for RE are more and more clearly expressed in terms of decisions regarding the type of renewable energy technology preferred by consumers, and correlations with variables such as the level of education and higher income are easily highlighted. Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)
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26 pages, 37967 KiB  
Article
An Econometric Model of the Operation of the Steel Industry in POLAND in the Context of Process Heat and Energy Consumption
by Bożena Gajdzik, Radosław Wolniak and Wieslaw Wes Grebski
Energies 2022, 15(21), 7909; https://0-doi-org.brum.beds.ac.uk/10.3390/en15217909 - 25 Oct 2022
Cited by 14 | Viewed by 2538
Abstract
The analyses presented in the publication allowed, on the basis of the data collected, development of an econometric model for the Polish steel industry from the point of view of the relationship between heat and energy management in the steel production process. The [...] Read more.
The analyses presented in the publication allowed, on the basis of the data collected, development of an econometric model for the Polish steel industry from the point of view of the relationship between heat and energy management in the steel production process. The developed model is the main novelty of the paper. The main objective of the study was to develop an econometric model of Poland’s heat and energy economy. The following research questions were raised: Is there an econometric model describing heat consumption (intensity) in the steel industry in Poland in relation to steel production and the energy economy? What are the relations between heat intensity and energy prices and steel production in Poland? How might the current energy crisis affect steel production? In the analysis we used data of energy and heat management in the Polish steel industry. An econometric model was developed of the dependence of heat consumption (Yt) on electricity prices (X1t) and steel production (X2t) in Poland. The authors took advantage of open access to data. Annual volumes of heat consumption in steel production processes in Poland were analysed as a function of the annual volume of steel production and the prices of electricity, which are consumed in technological processes in steel mills. We analyzed data for years 2004–2020. The analyses carried out showed that there is an inversely proportional relationship between electricity prices and the intensity of heat consumption by the steel industry. Research shows that rising energy prices lead to lower steel production. This is a dangerous phenomenon for the steel industry in the context of the current energy crisis caused by the pandemic and war in Ukraine. We think that the significance of our results is connected with the fact that the developed model is a useful analytical tool, as it not only allows the analysis of historical data, but can also be used to predict how steel industry parameters will change in the future under the influence of changes in external factors, such as energy prices. This gives a wide range of analytical possibilities for the use of the model. Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)
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18 pages, 313 KiB  
Article
The Associations of Young Poles with Green Energy in the Context of Self-Assessment of Their Relevant Knowledge and the Importance Attached to the Energy Sources Used
by Agnieszka Izabela Baruk and Anna Goliszek
Energies 2022, 15(19), 7183; https://0-doi-org.brum.beds.ac.uk/10.3390/en15197183 - 29 Sep 2022
Cited by 2 | Viewed by 931
Abstract
The aim of this article is to identify the associations that young Polish recipients have with green energy, considering their self-assessment of the level of knowledge about green energy and the importance attributed to the energy sources they use on a daily basis. [...] Read more.
The aim of this article is to identify the associations that young Polish recipients have with green energy, considering their self-assessment of the level of knowledge about green energy and the importance attributed to the energy sources they use on a daily basis. An analysis of the world literature on the subject indicates that there is a cognitive and research gap in the level of market awareness of individual recipients regarding green energy and its sources. This issue has been neglected even more among young people in the context of their associations with this type of energy. To eliminate these research gaps, five hypotheses were formulated. To this end, primary research was carried out using the survey method to collect data. The research covered 311 individual representatives of recipients in Poland aged between 18 and 24. The primary data collected was subjected to quantitative analysis, using specific tests and statistical analysis. Among other things, the following was discovered: (1) the dependence between the self-assessment of the level of knowledge about green energy and the importance attributed to the sources of energy used; (2) the dependence between the self-assessment of the level of knowledge about green energy and the associations with it (mainly negative ones); (3) the dependence between the importance assigned to the sources of energy used and the associations with green energy (mainly positive ones); and (4) that there were sets of recipients characterized by identical associations with green energy within the groups of people selected among the total respondents and among respondents assessing their level of knowledge as low or high, as well as among respondents attributing high or low importance to energy sources. The research results and the conclusions drawn have significant cognitive value and practical application. Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)
22 pages, 349 KiB  
Article
Influencer Marketing as a Tool in Modern Communication—Possibilities of Use in Green Energy Promotion amongst Poland’s Generation Z
by Beata Zatwarnicka-Madura, Robert Nowacki and Iwona Wojciechowska
Energies 2022, 15(18), 6570; https://0-doi-org.brum.beds.ac.uk/10.3390/en15186570 - 08 Sep 2022
Cited by 10 | Viewed by 4766
Abstract
Generation Z is gaining more and more importance in the market—not only is it attaining purchasing power, but it is also setting trends. This is the generation that spends a lot of time on various social media channels, and the content posted there [...] Read more.
Generation Z is gaining more and more importance in the market—not only is it attaining purchasing power, but it is also setting trends. This is the generation that spends a lot of time on various social media channels, and the content posted there is a source of information, inspiration and motivation for them. Its representatives are very skeptical about traditional marketing messages, so the best way to reach them is to use influencer marketing. They are also sensitive to environmental problems and ecology. For this reason, the purpose of this paper was to identify the possibility of using influencer marketing to promote green energy in the perspective of Generation Z in Poland. The CAWI method of research was carried out April–June 2022 on a sample of 533 people aged 18 to 26, selected using a quota method. The analysis used statistically significant structure indices (percentages) and measures of correlations between the variables. The results presented confirmed the enormous popularity of social media among the representatives of Generation Z, as well as the great involvement of young consumers in tracking the activity of influencers. More than half of the respondents indicated the usefulness of influencers promoting green energy, but at the same time the vast majority of them declared that the choice of green energy in their case was determined by the opinions of other people, and that the role of influencers was negligible. Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)
24 pages, 938 KiB  
Article
Decision-Making Processes of Renewable Energy Consumers Compared to Other Categories of Ecological Products
by Magdalena Sobocińska, Krystyna Mazurek-Łopacińska, Andrzej Graczyk, Karol Kociszewski and Joanna Krupowicz
Energies 2022, 15(17), 6272; https://0-doi-org.brum.beds.ac.uk/10.3390/en15176272 - 28 Aug 2022
Cited by 2 | Viewed by 1586
Abstract
In the scientific discourse on consumption, increasingly more attention is being paid to sustainable development. Regarding the fact that not only various types of enterprises, but also consumers contribute to the excessive consumption of natural resources, it is of crucial importance to reduce [...] Read more.
In the scientific discourse on consumption, increasingly more attention is being paid to sustainable development. Regarding the fact that not only various types of enterprises, but also consumers contribute to the excessive consumption of natural resources, it is of crucial importance to reduce the knowledge gap in the field of sustainable consumer behavior and decision-making processes related to the choice of organic products. The paper aims to present the decision-making processes of Polish consumers of renewable energy against the background of other categories of ecological products. Special attention is paid to the extent in which the offer is adjusted to the needs of consumers of renewable energy in Poland, compared to other categories of ecological products. The paper also shows the perception of the consumer of ecological products by buyers of renewable energy and by people who do not buy ecological products. The paper is based on a literature review and the results of a quantitative empirical study. The quantitative research was performed on a nationwide sample of 1032 people, among whom 509 people bought an organic product in the last 3 months, and 523 people did not purchase such a product during this period. The analysis of the results allows us to conclude that in the case of renewable energy, factors such as price, quality and the producer’s certification play a crucial role in the decision-making processes of Polish consumers. The hierarchy of criteria considered in the decision-making process related to the purchase of renewable energy and equipment enabling the use of renewable energy sources is quite similar to the one observed when purchasing electric cars. At the same time, it should be noted that almost every second person purchasing renewable energy compares many offers and spends a relatively long time contemplating their choice. Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)
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16 pages, 291 KiB  
Article
Benefits Achieved by Energy Suppliers through Cooperation with Individual Recipients and Their Readiness for This Cooperation
by Agnieszka Izabela Baruk and Mateusz Grzesiak
Energies 2022, 15(10), 3843; https://0-doi-org.brum.beds.ac.uk/10.3390/en15103843 - 23 May 2022
Cited by 2 | Viewed by 1298
Abstract
The aim of this article is to identify the benefits perceived by individual recipients that are achieved by consumer energy suppliers on the market, through multilateral trade cooperation, and to define the structure of these benefits according to the declared readiness of recipients [...] Read more.
The aim of this article is to identify the benefits perceived by individual recipients that are achieved by consumer energy suppliers on the market, through multilateral trade cooperation, and to define the structure of these benefits according to the declared readiness of recipients to cooperate with the suppliers. The results of the analysis of the available literature on the subject indicate that there is a cognitive and research gap in relation to the perceived benefits achieved by the suppliers through joint marketing activities. The benefits are not being analyzed; especially from the perspective of individual recipients’ readiness for this cooperation. This gap is noticeable not only in relation to the energy market, but also in other areas of the consumer market. In an effort to reduce the identified gap, an online survey was conducted among 1196 adult individual energy recipients in Poland. The primary data collected was subjected to quantitative analysis using the following research methods: average grade analysis, comparative analysis, and exploratory factor analysis. The Kruskal–Wallis test was also conducted. The results of the quantitative analysis indicate, inter alia, that the majority of the respondents declared their readiness to cooperate with energy suppliers on the preparation of marketing offers. This variable statistically significantly differentiated nine out of twelve analyzed benefits that, according to the respondents, suppliers obtain as a result of cooperation. This differentiation was not found only in the case of three benefits related to the cost-free acquisition of recipient potential. For all respondents, as well as for the respondents willing to cooperate with suppliers and for those who did not express such willingness, three sections were identified, including the respondents who saw the same benefits achieved by suppliers. The conclusions drawn on the basis of the analysis results constitute a significant contribution to the theory of marketing and the theory of market behavior of individual recipients in the energy market. They also bear clear application advantages, making it easier for energy suppliers to effectively initiate cooperation with individual recipients and/or strengthen this cooperation. Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)

Review

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16 pages, 1777 KiB  
Review
Consumer Adoption of Electric Vehicles: A Systematic Literature Review
by Paweł Bryła, Shuvam Chatterjee and Beata Ciabiada-Bryła
Energies 2023, 16(1), 205; https://0-doi-org.brum.beds.ac.uk/10.3390/en16010205 - 25 Dec 2022
Cited by 19 | Viewed by 9058
Abstract
Electric vehicle (EV) disposition may challenge serious environmental issues such as excessive dependence on oil, especially in the transport sector. Despite this understanding, the adoption intention has been disappointing to date. This review tries to present a comprehensive overview of the methodologies, theories, [...] Read more.
Electric vehicle (EV) disposition may challenge serious environmental issues such as excessive dependence on oil, especially in the transport sector. Despite this understanding, the adoption intention has been disappointing to date. This review tries to present a comprehensive overview of the methodologies, theories, and variables used in 57 peer-reviewed articles published between 2015 and 2022 covering the main forms of consumer adoption of EVs, consisting of purchase as well as behavioral and usage intentions. Governments may stimulate consumer adoption of EVs with exemptions on roadway tolls, convenient access to charging infrastructures, and tax and economic incentives considering energy trading and vehicle sharing. Second, it is important to create intensive awareness revolving around the EV segment. Furthermore, respecting and understanding consumer preferences would also pave the way for the success of EV acceptance. Finally, consumers’ risk–benefit belief while adopting new technology will play a significant role in choosing an EV in the future, while the biggest barriers to adopting EV will be consumers’ lack of confidence in EV performance, safety standard measures, and range per charge. Full article
(This article belongs to the Special Issue Challenges and Research Trends on the Contemporary Consumer Market of Energy and Other Products)
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