Mushtai Valentyna, PhD (Economics), Associate Professor of the Marketing and logistics Department, Sumy National Agrarian University, Sumy, Ukraine

ORCID: 0000-0001-9042-0241
e-mail: vamushtai@gmail.com

Hutsal Tetyana, Senior Lecturer, Department of Marketing and Logistics, Sumy National Agrarian University, Sumy, Ukraine

ORCID: 0009-0009-5858-7493
e-mail: hutsaltanya@ukr.net

Research into Aspects of Social Security and its Impact on Consumer Sentiment of the Target Audience

Abstract. Introduction. Taking into account the relevance of the challenges associated with state regulation of the market environment, in particular macro environmental factors that directly affect the choice and implementation of a marketing strategy, the need for deeper research into the role of social security as one of the significant external factors that directly affects consumer behavior, determining their consumer sentiment, is becoming increasingly urgent.

Purpose. The purpose of the study is to identify indicators of the formation of social security for the population of Ukraine as a significant factor influencing consumer behavior; determine their levels in dynamics, share in state budget expenditures, and structural shifts in order to understand the overall impact of this external factor on consumer sentiment of the target audience.

Results. It is noted that consumer behavior is influenced by a number of macro environmental factors, among which the social factor, which is determined, including the standard of living of the population formed and guaranteed by the state through existing social security programs, deserves special attention. The essence of social security as a system of measures by the state is clarified. It is noted that despite the identified positive dynamics of expenditures on the sphere of social security, their share in the country’s total expenditures is decreasing, which is recognized as evidence of institutional underestimation of the importance of the social sphere for society. Changes in the main indicators of the formation of social security of the population were analyzed. The relationship between the consumer sentiment of the target audience was studied through the assessment of the consumer sentiment index and all components of the selected indexer and indicators of the formation of social security of the population. Positive dynamics were revealed for all components; the most significant increases were recorded in the assessments of long-term economic prospects, while the expectations of the target audience for the nearest period remain relatively limited. It is recommended that businesses respond more sensitively to social factors that determine consumer behavior.

Conclusions. Changes in the indicators of the formation of social security of the population of Ukraine in dynamics have a direct impact on the consumer sentiment index of the target audience and all components of the indicator. In order to maintain an acceptable level of consumption, business, when developing marketing strategies, should take into account the influence of the social factor, which has a direct impact on the consumer sentiment of the target audience.

Keywords: social security, social benefits, subsistence minimum, consumer sentiment index, purchasing power, target audience, consumption

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