EFFECT OF MARKETING MIX (4Ps) ON THE PURCHASE OF AIR CONDITIONING IN MILLENNIALS. This research aims to study the decisive factor that can draw an intention to buy air conditioning in Millennials. This research provides the answer to the factors influencing the intention to purchase air conditioner with a certain frame which in this research will apply to Marketing Mix (4Ps).
The research result shows a significant relationship between 4 elements of the Marketing Mix, which are product, price, place and promotion, and the intention to purchase air conditioning. Air conditioning has become one of the home appliance products that every warehouse has because of the tropical climate that forces it. Under Krungsri's Research, the home appliance industry outlook from 2021 to 2023 said that Thailand is one of the world's leading manufacturers of air conditioning and supports its indigenous air conditioning sector.
A significant number seems that Thailand has become one of the world's key engines to be recognized for producing air conditioning. According to the price range of air conditioners in Thailand, there is a huge price range in the air conditioner in question.
Scope of this Research
LITERATURE REVIEW
Millennials
Meanwhile, they remain withdrawn and rely heavily on their family to get through life's problems (Broadbridge et al., 2007). These seemingly contradictory Millennial characteristics are possible because of their propensity for quick adaptability and flexibility and their desire for change and new challenges (Clausing et al., 2003).
Theories Related to the Research
- Marketing Mix (4Ps)
- Intention to Purchase
Product refers to the company's core offering, which consumers may describe as tangible goods or intangible services. Price refers to the total cost to the customer of acquiring the product, which may include monetary and psychological costs, such as time and effort spent on acquisition. This refers to decisions around "list prices, discount prices or special offer prices." Therefore, the term pricing here is the service provider's pricing strategy (NetMBA.
It refers to “the marketing communications used to announce the offer to potential customers and convince them to investigate it further.” Every aspect needs support from the brand's position to improve brand awareness, customer perception of the brand, perception of the brand, etc. In this study, consumer intention to purchase is defined as the consumer's intention to purchase air conditioning using a marketing mix (4Ps). ). Moreover, Fandos, Espejel, and Flavian (2008) stated in their study that the intention to purchase is the customer's purchase intention, which can influence the consumer's attitude and belief towards the offer.
Conceptual Framework
Martins, Oliveira, Costa, Branco, and Gonclaves (2019) also described intention to purchase because it helps customers think about their future purchase, and if the intention to purchase is optimistic, it can increase brand engagement and the possibility to sell your product. to offer. P1: Offering a product improves the intention to buy P2: Offering a price improves the intention to buy P3: Offering a place improves the intention to buy P4: Offering a promotion improves the intention to buy to buy. The next chapter will discuss the research methodology on how the effect of Marketing Mix (4Ps) on Air Conditioner Purchase Intention among Millennials will be conducted.
RESEARCH METHODOLOGY
- Research Design and Methodology
- Data Collection and Sampling Model
- Criteria of Sampling Model
- Interview Question
- Collection of data
- Validity test
- Data Analysis
- Limitations of the Study
The purpose of the interview is to forecast and anticipate consumer demand for the home appliance sector, particularly air conditioning. Questions can be categorized in terms of consumer demand and expectation from air conditioning using Marketing Mix. The finding from the interview will be concluded in the next chapter by using coding techniques to analyze the data collected after previous studies (Tippawat, 2019; Pantitanonta, 2020. Klongkitkarnka, 2021).
The interviewees who bought air conditioning and decided themselves in the Millennial born between 1981-1996 at the age of 26-41 years. The interview questions are semi-structured because the survey has a specific topic of air conditioning, but the questions are open and not asked in the same way to each interviewee. The method supports an analytical framework because the interview technique allows the researcher to observe the feelings and other reactions or feedback to the questions.
The interview questions were adapted to the marketing mix (4P) and purchase intention into a structure as question details as shown in Table 3.2. As the interviews were conducted in Thai, the transcription was translated prior to analysis. Do you feel worried about shopping in-store and shopping online when buying an air conditioner?
The validity test is a method of determining whether or not the interview questions are appropriate for the objectives of the study (Holden, 2010). Moreover, the researcher has a family business in the air conditioning industry, which understands the insights of the product and at the same time asks the question to the end users to see if the questions asked were understandable. Since this study is a case study of the air conditioning industry, the first limitation of this study is the generalization of the data.
In the next chapter, the result will explain the finding from the interview research regarding the Marketing Mix (4P).
FINDINGS DISCUSSION
Marketing Mix (4ps)
- Product
- Price
- Place
- Promotion
34;A quick cooling, durable in the long term with an excellent after-service that the product can be easily followed up by the maintenance team," said Mr. The product should be known in the market with good service while being easy to repair when is broken," mr. 34 said; Air conditioning must be a high innovation and good design that matches a room concept style, strong brand credibility known in the market, as well as a long-lasting five years above with a durable,” Ms.
34;I will ask an air conditioning expert for their opinion and an organic customer review, and I am good with any brand, especially if the brand can provide free maintenance or repair," said Ms. Energy saving would be important because as well as a long-term payment in the form of electricity,” said Ms. 34; it won't affect my purchase as I hardly go to the department store as I don't want to be stuck on the road for a long time," said Mr.
34; I ordered it through an e-commerce platform when I compared the price in a department store and it is much more expensive,” said Mr. 34; I've been ordering from online stores, especially Lazada (e-commerce platform) because of the better deals," said Ms. 34; I like it. The discount meal service would be great, and the free air conditioning cleaning service would be perfect ," she said.
34;Very attractive, it will make me want to buy the product faster, but I will not change the brand, but in another product," says Mr. I rather ask my friend, parents or family because I don't trust celebrities not. people," says Ms. I tend to open up to word of mouth from my friend, acquaintance, parent and family member," Ms.
34; I trust and believe in the mouth of the end user who experiences or buys a product," said Mr.
CONCLUSION
- Recommendations
- Research the product in the market and the market itself
- Selecting the brand
- Selecting the product line
- Marketing and Promotion
- Location
- Acquiring the product
- Conclusions
- Limitations of the study
An air conditioner should provide an exclusive deal related to the air conditioner to attract attention, such as free air conditioning installation, installment service or discount deal. This research study finds critical factors that can influence the choice of air conditioner for the consumer's decision. To determine the factors that can influence consumers to buy air conditioning, the research topic is "Effect of Marketing Mix (4Ps) on intention to buy air conditioning in Millennials".
The author analyzed the data based on the literature review by interviewing the 11 interviewees using the Marketing Mix (4Ps), Product Price, Place and Promotion that can create an intention to purchase air conditioning in Millennials. The product should be durable in the long run, and an excellent after-service team can quickly solve the problem and quickly restore the air conditioner with an additional feature that can create a better atmosphere in a room, such as the COVID-19 filter, PM 2.5 filter, or high energy saving. Finally, they will consider the long-term expenditure, which is electricity consumption from air conditioning.
Price becomes the key decision for consumers when purchasing an air conditioner, as the product only provides the basic purpose: to create a cool breeze in the room. The air conditioner price range is around 20,000 baht to 30,000 baht per bedroom air conditioner unit. In conclusion, the interview result shows that several factors influence the intention to purchase an air conditioner for millennials.
Applying the Marketing Mix framework shows consumer perception and understanding of consumer behavior towards the air conditioning industry in the Thai market. This result provides the findings and results that can be beneficial for a category of home appliances, especially air conditioning to apply the result and predict consumer demand, especially in the Millennials. Likewise, the information from this research can be used to develop, implement and plan a climate trend and build a strategy that suits the consumer.
This paper was conducted on several groups of consumers who bought air conditioning were millennials born between 1981-1996 at the age of 26-41.
APPENDICES
Appendix A: Product
It is supposed to be a leading brand and reliable because the product is long lasting. 34;An air conditioner should have very quiet sound and quick cooling wind and a comfortable temperature for sleeping. The product must be known in the market, provide good service and at the same time be easy to use.
Appendix B: Price
Appendix C: Place
34;Last year, about 3-4 years, I bought air conditioning in a department store because it felt reliable, but the price on the e-commerce platform attracts and attracts me now. I went to the home appliance fair, but compared to Lazada (E-commerce.platform), the price is lower if it is online.”. 34;It doesn't affect my purchase as I hardly go to the department store like I do.
Appendix D: Promotion
