COMPARATIVE ANALYSIS OF CUSTOMER PREFERENCES IN EU AND AFRICAN MARKETS

Abstract

The success and survival of businesses hinge on customer loyalty and satisfaction, factors influenced by varying preferences shaped by attitudes towards products, services, and cultural contexts. With over 90% of businesses categorized as small and medium-sized enterprises (SMEs), family businesses play a significant role, constituting about 50% of private businesses in Europe and 80% in Africa. Recognized as pivotal for economic development and job creation, the favorability of these businesses among customers is crucial for their sustainability. This study investigates and compares customer preferences in developing countries, exemplified by the Mbulu region in Tanzania, and more developed countries, represented by Liberec in the Czech Republic. Through hypothesis testing, the research identifies a correlation between customers' preferences and their geographical origin. African respondents exhibit a preference for large non-family businesses over small or medium-sized family enterprises, while European respondents lean towards small or medium-sized family businesses