PURCHASING BEHAVIOR TOWARD PURCHASING INTENTION IN GOLD ORNAMENT

KEY FACTORS AFFECTING THE PURCHASE BEHAVIOR OF THAI CUSTOMERS ON THE PURCHASE BEHAVIOR OF GOLD ORNAMENT NAVARWAN CHAISURIYATHAVIKUN 5549303. The results show that the key factors of Thai customers at the age of 36-40 years showed a positive relationship with the purchase intention in gold ornaments.

INTRODUCTION

Research question

Research objective

Research scope

LITERATURE REVIEW

Consumer segmentation

Gender
Income

Definition and key concepts

Consumer perception: Perception can be clarified as a person pay attention to product or service, bought or searched to the consumer sense (Walters,
Consumer behavior: it consists of tangible and intangible dimension which include good or service, mental process, beliefs and values

Retailing Mix (Product, Price, Place, Promotion, Personal, and Presentation)

Product
Quality
Place
Promotion
Personal as sale representative
Presentation as store atmosphere

Understanding Consumer behavior and Motivation

Self-image
Investment for future
Buying for special occasion and gift-giving
Reference group
Hedonic and Utilitarian value

Purchase Intention
Proposed Framework Model

H1: There will be another in Thai customers with the age above 25 years who have the intention to buy in gold decoration. H3: There will be a difference in Thai customers' income level towards purchase intention in gold ornament.

Demographic

Purchasing Intention

Retailing Mix

Motivation

Hypotheses summary

METHODOLOGY

Research Design
Population size and sample size

Sample characteristics

Quantitative Design
Research Instrument

Constructs Measurements
Questionnaire design

Demographic information is using nominal scale for 4 questions
General information consists of influence factor, place, and frequency of purchase by using nominal scale for 3 questions
Measuring consumer’s perception and consumer’s behavior toward which are independent variable (32 questions)
Measuring Thai customers who age above 25 years old purchasing intention to purchase gold ornament as dependent variable (1 question)

Data collection
Data Analysis

The sample size calculation showed that 385 sets of questionnaires should be used for this research. Respondents must be Thais over 25 years of age, as the purpose of this study is to discover the important factors that influence the intention to purchase gold jewelry. A quantitative method is used to quantify purchasing behavior and purchase intention in gold ornaments for Thai customers over 25 years old.

To analyze data, this research uses the program software Statistical Package for Social Sciences (SPSS) version 20.0 to test the hypotheses and thus test the constructs tested and assessed regarding the topic of the factor influencing consumer behavior and influences the purchase intention for gold ornaments. In this study, it will be divided into 4 parts, where the sample size of this study was 370 respondents. One-way ANOVA analysis is used to measure age, gender and income of respondents regarding the purchase intention of gold ornaments.

Table 3.1 Demographic questionnaire references Demographic part (3 questions)

FINDINGS

Result and analysis

Demographic of respondents’’ information
General respondents’ information

According to Table 4.1, demographic profile of the respondents illustrated that there were 370 respondents who participated in this research. In addition, there are male 126 respondents and female 244 respondents out of the total of 370 respondents which can be calculated as male 34.1% and female 65.9%. For the influencing factors, Table 4.2 General information of the respondents illustrated that friend, family and relative were the most influential people for Thai consumer age above 25 years old for gold ornament buying behavior, the respondent's answer 166 people (44.9%) for friends, family and relatives.

Moreover, the place where the respondents shop can be illustrated that the respondents shop in a mall for 174 respondents (47%) and a traditional store for 169 respondents (45.7%), online for 13 respondents (3.5%) and others channels by 14 respondents (3.8%), which may lead to the conclusion that other channels are either the top three options depending on where they are convenient.

Table 4.1 Demographic profile of the respondents (cont.)

Analysis of variance ANOVA

Gender
Income

From Table 4.3, ANOVA testing between Thai consumers over 25 years of age and purchase intentions for gold jewelry showed the result of Sig value = 0.027, which is less than 0.05 level of significance. Therefore, H1: There will be another in Thai customers with the age of over 25 years towards the purchase intention in gold ornament is accepted. It can be concluded that different gender has no influence on the Thai consumer's purchase intention towards gold jewelry.

Therefore, H2 becomes: There will be a difference in the gender of Thai customers towards the purchase intention in gold jewelry. Testing the independent variable and the dependent variable (the income and purchase intention of Thai customers) to see if there is a relationship between the income level of Thai customers and the purchase intention of gold jewelry. From Table 4.5, ANOVA test between Thai customers' income level and gold jewelry purchase intention showed that the result of Sig value = 0.054, which is higher than the significance level of 0.05, which means that the level of confidentiality interval is significantly rejected at 95% It can be said that the difference in income level of Thai customers does not affect the purchasing intention of Thai consumers towards gold jewelry with 95% confidentiality interval.

Therefore, H3: Different income level of Thai customers regarding purchase intention with gold decoration is accepted (at 90% confidence interval).

Table 4.3 ANOVA Testing result between Thai customers age above 25 years old toward purchasing intension for gold ornament

Factor analysis

Total Variance Explained
Scree Plot
Rotated Component Matrix

Moreover, by looking at the average score, respondents who have higher income showed higher intentions to buy gold ornament in the next 12 months. From Figure 4.5, the Scree plot showed a picture of 6 important number of constructs that contributed to the buying behavior of this Thai customers in gold ornament. In this study, Table 4.7: Rotated component matrix showed 6 dimensions which influence the buying behavior of Thai customers in gold ornament.

The results can be regrouped to the factor analysis investigated in rotated component matrix, which can answer the factor analysis in this study factor influencing Thai customers' purchase behavior. Expected future value: gold ornament is one type of investment as customers perceive value increase in the future. The combination of new variables and the definition of the correlation between independent variables and dependent variable to measure Thai customers' buying behavior in gold ornament.

These new hypotheses of this study would be tested using correlation analysis and multiple regressions with the regrouped constructs from the factor analysis to see which factor influences Thai customers' purchase intention in gold jewelry.

Table 4.6 Total variance explained six factors influencing Thai customers’

Reliability Analysis

Correlation Coefficient Analysis

There was a positive correlation between customer preferences and self-image at r = 0.697, customer preferences and product design were correlated at r = 0.410, customer preferences and trust were correlated at r = 0.495, customer preferences and expected future value were correlated at r = 0.372, customer preferences and price discount were correlated at r = 0.521. In addition, self-esteem and product design were correlated at r = 0.455, self-esteem and trust were correlated at r = 0.449, self-esteem and expected future value were correlated at r = 0.455, and self-esteem and price discount were correlated at r = 0.552 . Additionally, product design and trust were correlated at r = 0.360, product design and expected future value were correlated at r = 0.237, and product design and price discount were correlated at r = 0.423.

Trust and expected future value were correlated at r = 0.285, and trust and price discount were correlated at r = 0.404.

Multiple Regression Analysis

ANOVA result of running Multiple regressions
Model summery of running Multiple regression
Coefficients result of running Multiple regression

From Table 4.9 showed the results of the correlation coefficient of the six factors influencing the buying behavior of Thai customers towards purchasing intention in gold jewelry, the results illustrated that all the constructs had positive correlation. From multiple regression, the score of Thai consumer's purchase intention in gold jewelry used as a dependent variable with the set of independent variables (Buyer preferences, self-image, product design, expected future value, trust and price discount). Table 4.10: showed ANOVA of six constructs towards purchase intention of Thai customers in gold jewelry, demonstrated the significant level of independent constructs at 0.00 significant that less than 0.05 significant levels considered significant.

It was shown that customer preferences and expected future value significantly influenced Thai customers (over 25 years old) purchasing gold ornaments. The results can be concluded from the multiple regression analysis that the level of customer preference and expected future value are significant ≤ 0.05, which is 0.08 and 0.48, respectively. If customer preferences and expected future value both increase by 1 point, then the purchase intention of Thai customers for gold ornaments in the next 12 months would increase by 1.946.

The second factor had a significant level of influence on purchase behavior regarding purchase intention in gold ornament was Expected Future Value.

Table 4.10 ANOVA showed the result six construct of Thai consumer purchasing behavior toward purchasing intention which the significant rate showed 0%

Hypotheses Summary

Discussion

Key factor influencing Thai customers’ purchasing behavior in gold ornament
Key factor influencing Thai customers’ purchasing behavior toward purchasing intention in gold ornament
Motivation for Buyer’s preference

Reference group: Thai consumers showed more on the collectivism culture of social relation exchanging information in order to secure
Buying on occasions: this research showed significant level of Thai customers toward gold ornament purchasing intention for special

Expected future value

The belief in future value increasing: the result also reflected Thai consumer when they purchase gold ornament. They buy gold ornament
Secure for the future need: according to the literature review the utilitarian value: in gold ornament in this research showed that Thai

Summary

When the results of Thai customers' gold jewelry purchasing behavior are compared between European jewelry research and Asian gold jewelry research, Thai consumers' purchasing behavior is consistent with European and Asian research on product design, price and trust (seller influence and shopping atmosphere). . This study found that Thai consumers over the age of 25 have significant purchase intention for gold ornaments. In particular, Thai customers between the ages of 36 and 40 showed a higher positive relationship with the purchase of gold ornaments, which is consistent with three previous studies. In addition, the literature review investigated consumer perception in terms of the retail mix (product, quality, price, place, promotion, salesperson and store atmosphere) and consumer behavior with regard to motivation (self-image, investments in the future). , buying for special time, gift giving, hedonic value and utilitarian value, and reference group) with measurement factors that have the effects on the purchasing behavior of Thai customers towards the purchase intention in gold ornaments.

However, at this stage, this research result showed that product design, price discount and trust have no relationship with the purchase intention of Thai buyers with gold decoration according to the multiple regression result. The result illustrated a significant relationship with Thai buyers' purchase intention towards gold ornaments, which was related to the literature review in terms of investment for the future (Wang, Sun and Song, 2012) and utility value (Maria, 2012). They buy gold ornaments because the results of statistics in this survey show that Thai consumers believe in the increasing value of gold ornaments.

The results of this study showed that Thai customers at a certain age and income have a positive relationship with the intention to purchase gold jewelry.

CONCLUSION AND LIMITATION

Conclusion
Contribution of the study
Recommendations and Practical Implications
Limitations
Future Research

First, there is a difference in the age of Thai customers between 36 and 40 years old, who showed a higher intention to purchase gold ornaments. However, Thai customers in other age groups also showed some positive attitude towards purchasing intention with gold decoration. Age The results of the survey showed that Thai customers with a certain age have a positive attitude towards the intention to purchase gold ornaments, especially in the age group of 36-40 years.

The statistical data of this research result shows that there is a significant level of positive relationship with Thai customers' purchase intention towards gold ornaments, due to the belief in the double benefit of gold ornaments (for decoration and value appreciation). In terms of income, the statistic can also accept with a confidential interval of 90% that Thai customers with higher income will have more purchasing intention in gold jewelry. The marketer can also target any income level because consumers of any income can purchase gold ornaments.

Therefore, the marketer can use these motives to influence the Thai consumer to buy gold jewelry.

Table 5.1 Explanation of key factors influencing Thai customers’ purchasing behavior toward purchasing intention in gold ornament

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APPENDICES

APPENDIX A: SUMMARY OF LITERATURE REIEW

LuxuryXXXXX Consumer SegmentationXXXXXXXX Consumer PerceptionXXXXXXX ProductXXXX QualityX PriceXXXX LocationXX PromotionXXX Sales Representative Luxury Consumer Segmentation Consumer Perception Product Quality Price Place Promotion Sales RepresentativeX Store AtmosphereXXXXXX Consumer Behavior MotivationXXXXXX Self-ImageXXX Investment for the Future

APPENDIX B: QUESTIONNAIRE IN ENGLISH