Browsing by Subject "Branding (Marketing) -- Psychological aspects"

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    Research and analysis on factors influencing Beijing consumers' car purchase intention : taking BYD as an example
    (University of the Thai Chamber of Commerce (UTCC), 2024)
    Wu, Qiongyu
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    International Business
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    University of the Thai Chamber of Commerce. International Business
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    University of the Thai Chamber of Commerce. International School of Management
    In the booming fertile land of the Chinese automobile market, the wave of new energy vehicles is sweeping at an unprecedented speed, and its steady increase in popularity marks the Chinese automobile industry entering a new era of green and low-carbon. BYD, as a shining star in this field, has become a leading enterprise in the domestic new energy vehicle market with its profound technological accumulation and forward-looking market layout, attracting widespread social attention and consumer favor. This study focuses on Beijing, the forefront of China's new energy vehicle promotion, and takes local consumers as specific research objects to deeply analyze the key factors that affect their choice of BYD cars. Through a carefully designed questionnaire survey, we extensively collected first-hand data from respondents from different backgrounds, age groups, and consumption abilities, and used advanced statistical analysis tools to analyze multiple dimensions in detail, including but not limited to brand value, social value, sentiment value, price value, policy value, technological innovation level, and consumer personal preferences. The key to BYD's ability to stand out in fierce market competition lies in its strong brand influence and sustained technological innovation ability. Brand value is one of the important factors that consumers consider when choosing a car. BYD has successfully shaped a high-quality and high-tech brand image through years of market cultivation and reputation accumulation, winning the trust and love of consumers. The level of technological innovation is also the core competitiveness of BYD. Whether it is battery technology, motor drive, or intelligent driving assistance systems, BYD is at the forefront of the industry, providing consumers with a driving experience that exceeds expectations. The government's policy orientation and recognition of social values have also to some extent promoted consumers' Intention to purchase BYD new energy vehicles. The policy level subsidies, relaxation of travel and purchase restrictions, and improvement of charging infrastructure have provided consumers with a more convenient environment for purchasing and using cars. As a synonym for environmental protection and energy conservation, new energy vehicles have increasingly highlighted their social value, further stimulating consumer purchasing enthusiasm. Although price value and sentiment value have an impact on car purchase intention, they are not decisive factors. This indicates that in today's gradually mature new energy vehicle market, consumers are more focused on the actual performance and long-term value of products, rather than just staying at the price level or personal sentiment preferences.Based on the above findings, this study proposes strategic recommendations for BYD and similar enterprises: on the one hand, enterprises should continue to increase R&D investment, continuously improve brand influence and technological innovation level, lead the market with technology, and win consumers with quality; On the other hand, the government should continue to optimize the policy environment and increase support for the new energy vehicle industry, including financial subsidies, tax incentives, infrastructure construction, etc., to provide strong guarantees for the healthy development of the new energy vehicle market. This study not only provides empirical evidence for the marketing strategies of companies such as BYD, but also provides valuable reference for government departments to formulate policies for the new energy vehicle industry.
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    Publication
    The impact of brand image and brand trust on consumers purchase intention of BYD EV car in Bangkok
    (University of the Thai Chamber of Commerce (UTCC), 2024)
    Jingyao, Xu
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    Nattapan Buavaraporn
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    International Business
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    University of the Thai Chamber of Commerce. International Business
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    University of the Thai Chamber of Commerce. International School of Management
    This study investigates the influence of brand image and brand trust on consumers' intention to purchase BYD EV cars in Bangkok, Thailand. In this study, brand image was divided into three dimensions, namely corporate image, product/service image and user image, with reference to the Biel model, in order to understand how these factors affect the decision-making process of consumers' purchase intention for BYD EV cars. The research data was collected using a single structured questionnaire, and 289 valid questionnaires were obtained. Through descriptive data analysis of demographic characteristics and frequency distribution, it is known that the main respondents are male (55.6%), of which 48.4% are aged between 30-39, indicating that relatively young consumers have a high acceptance of new energy vehicles. The majority of respondents had a Bachelor's degree or higher, indicating that most of the sample was highly educated. Income levels vary. Cronbach's alpha coefficient was used for reliability analysis and the reliability scores for each dimension were high, indicating internal consistency and within the acceptable research range. Validity analysis ensures that the measured results accurately reflect the structure of interest. Sampling adequacy was verified by KMO measurements, and the Bartlett sphericity test significantly confirmed that the data were suitable for analysis. Correlation analysis is used to check whether there is a significant positive correlation between the independent variables (company image, product/service image, user image, brand trust) and the dependent variable (purchase intention). Meanwhile, multiple regression analysis was used to further determine the relative contribution of the predictors to purchase intention. It is found that the three dimensions of brand image have a impact on consumers' purchase intention, and the impact of product/service image on consumers' purchase intention is much higher than that of company image and user image. Brand trust also has a significant positive effect on consumers' purchase intention, but the effect is still lower than that of product/service image in the three dimensions of brand image. At the same time, the explanatory power of these factors for purchase intention is 43.8%, and there are other factors that are not mentioned. The research results have practical significance for BYD and new energy automobile enterprises. For example, BYD and other new energy automobile manufacturers should strengthen their corporate image, emphasize their brand awareness and industry status in this field, establish a good corporate image, and enhance consumer confidence. Maintain high quality products while focusing on service quality and enterprise research and development capabilities. Build strong brand trust through reliable products and outstanding services to enhance consumer confidence and purchase intentions. This study highlights the importance of good brand image and brand trust in shaping the purchase intention of consumers with new entry technology "EV Car". The results show that marketing strategies that pay attention to these factors can help increase sales. Future research could further explore other factors that influence purchase intentions
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