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A STUDY ON FACTORS INFLUENCING PROJECT’S PURCHASE INTENTION OF THE ELECTRIC WATER HEATER IN CENTRAL VIET NAM
A STUDY ON FACTORS INFLUENCING PROJECT’S PURCHASE INTENTION OF THE ELECTRIC WATER HEATER IN CENTRAL VIET NAM Name : Le Duong Tin ID : 11752317 â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights CONTENTS Research Background Literature Reviews Research Methods Concluding Remarks References List Appendix â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights ABSTRACT •Knowing the role of purchase intention is undeniably important to marketers as a determinant of success •In energy market, there are a lot of competitors, many of which have advance manufacturing facilities and technologies •Energy companies should not emphasize solely on Electric water heaters’ physical appearance but on the brand image of the manufacturer •Key words: Purchase intention, product quality, service quality, price fairness, electric water heater, customer satisfaction â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights INTRODUCTION Research Background •The factors that influence purchase intention of the Ferroli electric water heater in Central Viet Nam •Meeting the requirements of market demand â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights Ferroli Group Snapshot •Ferroli Group, founded in San Bonifacio (Verona, Italia) 1958 •Run by the brothers, Dante, Leonardo, and Luigi Ferroli â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights FERROLI INDOCHINA FERROLI INDOCHINA IN VIET NAM LOCATION TOTAL SURFACE 10,000 sqms PLANT SURFACE 6,500 sqms PRODUCTION â All rights reserved, also Thach That Industrial Zone , Quoc Oai, Ha Noi The Electric Water Heater, Solar, Heat Pump, Boiler regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights INTRODUCTION Research Objective •Gain knowledge about consumer’s purchase intention toward the electric water heater product •Investigate the reasons that may influence intention of buying the electric water heater products •Identify and determine factors that influence project’s purchasing intention of the Ferroli Electric Water Heater in Central, Viet Nam •Understand impacts of purchasing intention to Projects in Central Viet Nam (Resort, Hotel, high class apartment) •Propose a model of purchase intention that leads to the Ferroli Indochina Company’s success â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights LITERATURE REVIEW (con’t) Product Quality • Product quality depends on the expectation of each customer, which is unique Quality can be defined in broad terms as the combination of product attributes, real or imagined, which are held to be most important in the opinion of the customer in arriving at a subjective assessment of a product worth (Anderson et al., 1994) • Product quality is a basic driver of buyer behavior across a wide range of categories in both goods and services markets While the financial impact of product quality has been thoroughly examined in prior studies (Stewart, 2009) â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights LITERATURE REVIEW (con’t) Service quality • Parasuraman, Zeithaml, and Berry (1985, 1988) conceived that service quality is the difference between customers’ expectation and their perceived performance of a service • Parasuraman et al (1988) have also suggested that service quality consists of five generic dimensions: tangibles, reliability, responsiveness, assurance, and empathy â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights LITERATURE REVIEW (con’t) Price Fairness • Price is defined as any price that a consumer uses as a basis for comparison in judging another price (Schiffman & Kanuk, 2000) • Price fairness is defined as consumers’ assessments of whether a seller’s price can be reasonably justified (Xia et al., 2004) • Wilson (1980) first argued that, in a market for lemons with price-setting sellers, trade may occur at a distribution of prices rather than at a unique price • Price-setting sellers more informed than buyers has been considered by Wilson (1979, 1980) â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights Research Method (Con’t ) • To collect this data Primary data were collected through questionnaire designed referring Secondary data were collected data from articles in websites, documents on the historical data and annual reports that provided by Ferroli Indochina Company • Method of data analysis : Descriptive Analysis Correlation Analysis Reliability Analysis Scale Measurement Chi Square â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights Research Method (Con’t ) Significance of the research • The research is expected to contribute to the marketing management • The findings of Product quality, Service quality, Price Fairness will provide the customer satisfaction with vital information • It will make a significant contribution to the purchase intention literature by proposing a framework to understand project’s purchase intention via antecedents of purchase intention • This study provides a framework on the determinants of purchase intention in Viet Nam energy industry for policy makers • Act as references for future studies â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights Concluding Remarks • • • • • There are four consumption factors that might influence consumers’ purchase intentions of Ferroli Indochina electric water heater Independent variable which is Service quality, product quality, price fairness, customer satisfaction The dependent variable is purchase intention Parasuraman et al (1985, 1988) state that the higher the service quality, the higher the customer satisfaction Teas (1993) also states that perceived service quality is the augmentation of the customer satisfaction Parasuraman et al (1994), product quality is equally importance in affecting consumer satisfaction as service quality â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights Concluding Remarks • Price has found to be related to perceived product quality and consumer’s product evaluations (Rao & Monroe 1989; Dodds, Monroe & Grewal 1991) • Price fairness significantly affect customer satisfaction • Herrmann et al (2007), it was concluded that customer satisfaction indirectly influenced by the perceived price fairness • Price fairness is positively correlated to customer satisfaction (Bei & Chiao, 2001; Parasuraman et al., 1994; Hanif, Hafeez & Riaz, 2010; Herrmann et al., 2007; Huffman et al., 2001; Yieh et al., 2007) â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights REFERENCE LIST • Vicki G M., Joel H S., & Alok G., (2007), When purchase intentions predict sales?, 347-364 • J Scott A., Vicki G M., & V Kumar, (2000), Sales forecasts for existing consumer products and services: Do purchase intentions contribute to accuracy? 383-387 • Ying-F K., Chi-M W., & Wei-J.D., (2009), The relationships among service quality, perceived value, customer satisfaction, and post-purchase intention in mobile value-added services, Computers in Human Behavior 25, 888-896 • Cheng L W., Dongjin L., Bradley R B., & Jongseok A, (2011), Country image, product image and consumer purchase intention: Evidence from an emerging economy, International Business Review, 11 â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights REFERENCES • HE D., LU Y., & ZHOU D., (2008), Empirical Study of Consumers’ Purchase Intentions in C2C Electronic Commerce, 13 (3), 288-290 • Michel L., & Chankon K L Z (1996), Brand Familiarity and Confidence as Determinants of Purchase Intention: An Empirical Test in a Multiple Brand Context, 115-120 • Tiffany B W., & Hong Y (2012), Building trust to increase purchase intentions: The signaling impact of low pricing policies, Journal of Consumer Psychology, 384-394 • May K., & Galen T.T (2009), The effects of service provider employment status and service quality exchange on perceived organizational image and purchase intention, Sport Management Review, 225-230 â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights REFERENCES • Thijs B (2006), Understanding Channel Purchase Intentions: Measuring Online and Offline Value Perceptions, 3-54 • Jarkko M., Jaakko K., & Karlos A (2005), Negotiations in project sales and delivery process, An application of negotiation analysis, p1 • Kotler, P 2000 Marketing Management: Analysis, Planning, Implementation, and Control, 10th ed., New Jersey: PrenticeHall • www.scribd.com/doc/62219042/9/Purchase-Intention • Josephine, Chu-chi, & Liu , (2006), Virtual experiential marketing on online purchase intention, 325-333 â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights APPENDIX Section A: Demographic Profile • In this section, we are interested in your background in brief Please tick your answer and your answers will be kept strictly confidential • QA1: Gender: Female Male • QA2: Age: 18 - 25 years old 26 - 35 years old 36 - 45 years old 46 - 55 years old 56 years old and above • QA3: Marital status: Single MarriedÄ • QA4: Highest level of academic qualification: Diploma Bachelor Degree Master Degree PhD Degree â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights APPENDIX • QA5: Employment status: Employed Unemployed Student Retired • QA6: Personal Income: Below VND 5,000,000 VND 5,000,000 – VND 8,000,000 VND 9,000,000 – VND 14,000,000 VND 15,000,000 – VND 20,000,000 VND 21,000,000 – VND 40,000,000 More than VND 40,000,000 â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights APPENDIX Section B: Factors that influence you to purchase Ferroli Indochina electric water heater • This section is seeking your opinion regarding the factors that influence your purchase intention toward Ferroli Indochina electric water heater Please indicate the extent to which you agreed or disagreed with each statement using points Likert scale • [(1) = strongly disagree; (2) = disagree; (3) = neutral; (4) = agree; (5) = strongly agree] response framework • Please circle one number per line to indicate the extent to which you agree or disagree with the following statements â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights APPENDIX â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights APPENDIX â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights APPENDIX â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights APPENDIX â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights â All rights reserved, also regarding any disposal, exploitation, reproduction, editing, distribution, as well as in the event of applications for industrial property rights ... proposing a framework to understand project’s purchase intention via antecedents of purchase intention • This study provides a framework on the determinants of purchase intention in Viet Nam energy industry... Ferroli Electric Water Heater in Central, Viet Nam •Understand impacts of purchasing intention to Projects in Central Viet Nam (Resort, Hotel, high class apartment) •Propose a model of purchase intention. .. product •Investigate the reasons that may influence intention of buying the electric water heater products •Identify and determine factors that influence project’s purchasing intention of the Ferroli