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http://dx.doi.org/10.13106/jafeb.2021.vol8.no3.1275

Consumption Value, Consumer Innovativeness and New Product Adoption: Empirical Evidence from Vietnam  

DU, Chung Thi (Faculty of Marketing, University of Finance -Marketing)
NGO, Thu Thi (Faculty of Marketing, University of Finance -Marketing)
TRAN, Thi Van (Faculty of Marketing, University of Finance -Marketing)
NGUYEN, Ngoc Bich Tram (Faculty of Marketing, University of Finance -Marketing)
Publication Information
The Journal of Asian Finance, Economics and Business / v.8, no.3, 2021 , pp. 1275-1286 More about this Journal
Abstract
The purpose of this study is to employ the theory of consumption value and consumers' innovative personality characteristics to explain the adoption of new personal electronics devices in Vietnamese market. This study adapts a quantitative survey-based approach to test hypotheses about relationship between consumption value, product specific innovativeness and new product adoption. The study uses a quantitative data set of 915 consumers who owned one mobile electronic device at least in Ho Chi Minh city, one of the biggest cities of Vietnam. The data was collected through personal interview and convenient sampling method. The conceptual model was tested using PLS structural equation model. The findings of this study suggest that both consumption value and product specific innovativeness influence the adoption of new electronic products. The results also reveal that product specific innovativeness mediates the relationship between consumption value and new product adoption. The study further identified that consumption value was taken as a second-order multidimensions construct with five components, namely functional value, epistemic value, economic value, social value and emotional value. As a result, the research suggests some implications to enhance marketers' capabilities to develop strategies for launching new hi-tech products in an emerging market as Vietnam.
Keywords
Consumer Innovativeness; Consumption Value; Functional Value; Hedonic Value; New Product Adoption;
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