Signals influencing consumer willingness to buy healthcare products | |
| Author | Bongkot Phaiboon-udomkarn |
| Call Number | AIT Diss. no.DBA-SOM-14-02 |
| Subject(s) | Willingness to pay Consumers' preferences Health products--Marketing |
| Note | A dissertation submitted in partial fulfilment of the requirements for the Degree of Doctor of Business Administration |
| Publisher | Asian Institute of Technology |
| Series Statement | Dissertation; no.DBA-SOM-14-02 |
| Abstract | Dietary supplements and cosmeceuticals constitute a very significant retail market, with average double-digit growth worldwide and in Thailand over the last ten years. It is apparent that many consumers have the perception that these products act as preventive measures to off-set environmental pollution and stress. It is therefore important for market leaders to understand factors and variables related to consumer willingness to buy these healthcare products. This thesis investigates the differential impact of three marketing signals --product country image, brand image and expert opinion -- in the evaluation of risk associated with the purchase of the dietary supplement vitamin C and cosmeceuticals. The research is timely as very little has been done to establish a theoretical explanation of the role of signals in reducing consumers’ perceptions of general inherent risk that comes with the purchase of healthcare products. In developing countries research is even more limited. The study tests a battery of hypotheses relating to consumers’ motivations in buying vitamin C and skincare products. The results contribute to a clearer understanding of how consumers perceive risks associated with healthcare products, and how they are influenced by extrinsic signals when making purchasing decisions. A quantitative approach based on a comprehensive survey was used to develop a conceptual framework relating to consumers’ willingness to buy. The survey was conducted on 473 consumers in commercial areas of Bangkok using vitamin C and skin care cosmeceuticals as the two product categories. A comparison between the categories was made and respondents’ risk perceptions associated with buying decisions were measured and interpreted. The research analyzes extrinsic attributes associated with the purchase of healthcare products of uncertain efficacy and safety, and adds insights on a fast growing, yet understudied market. The research draws on existing definitions and measures adapted from consumer behaviors and marketing literature. The factors tested and analyzed with regard to consumer perceptions were product country image, brand image, expert opinion, perceived risk and willingness to buy. Analysis of quantitative data indicates that product country image and brand image significantly affected consumers’ perceptions concerning vitamin C, with a score of 95% as determined by ANOVA analysis, while expert opinion is slightly less significant at 90%. All factors examined with regard to cosmeceuticals had an ANOVA measurement of 95% significance. The ANOVA test determined that perceived risk negatively affected consumers’ willingness to buy healthcare products in both categories, with a measurement of 95%. The findings also suggest that Thai consumers prefer imported over domestic healthcare products in both categories, though they may be unfamiliar with some foreign brands. It is suggested that business managers and marketers consider product country image and country of origin effects through the halo and construct models (Han, 1989) in determining marketing strategies. |
| Year | 2014 |
| Corresponding Series Added Entry | Asian Institute of Technology.Dissertation;no.DBA-SOM-14-02 |
| Type | Dissertation |
| School | School of Management |
| Department | Other Field of Studies (No Department) |
| Academic Program/FoS | Doctor of Philosophy in Business Administration (Publication code = DBA-SM, SM) |
| Chairperson(s) | Josiassen, Alexander (Co-Chairperson);Badir, Yuosre (Co-Chairperson); |
| Examination Committee(s) | Shipin, Oleg;Vatcharapol Sukhotu; |
| Degree | Thesis (Ph.D.) - Asian Institute of Technology, 2014 |