EFFECTS OF CONSUMER ETHNOCENTRISM, COSMOPOLITANISM, XENOCENTRISM, METACOGNITIVE, AND COGNITIVE CULTURAL INTELLIGENCE ON PURCHASING FAMOUS WORLD BRANDS

The development of information technology and the liberalization of international trade in goods and services have facilitated business operations for companies in foreign markets. Based on market research, multinational companies' management obtains information about the characteristics and needs of local consumers, which is essential when formulating a quality marketing strategy. The aim of this research is to determine the influence of consumer ethnocentrism, cosmopolitanism, xenocentrism, as well as metacognitive and cognitive cultural intelligence on consumers' decision to purchase famous world brands. Empirical research was conducted using a survey method on a sample of 322 respondents, and their responses were analyzed using statistical software SmartPLS 4. The results showed that consumer ethnocentrism has a negative impact, while consumer cosmopolitanism, xenocentrism, and cognitive cultural intelligence have a positive impact on consumers' decision to purchase famous world brands, while the impact of metacognitive cultural intelligence is not statistically significant. The results of the research provide useful information that can help companies' management in formulating an appropriate marketing strategy in the market of the Republic of Serbia.