The Impact of Video Marketing on Social Media Platforms on the Millennial's Purchasing Intention toward Electric Vehicles
1Dr. Phunpiti Bhovichitra,2Akash Shrestha
1PhD – Marketing, University of Stirling, UK
2Master of Science Digital Business, Rangsit University, Thailand
https://doi.org/10.47191/jefms/v5-i12-33ABSTRACT:
Thailand’s market for electronic vehicles has experienced a tremendous growth especially with the rising number of environmentally conscious consumers, as well as the innovation-driven automobile industry of Thailand. On a global scale, it can be, however, seen that – a majority of the market; i.e., over 60% of the market is controlled by a handful number of brands. Therefore, there has been an extremely fierce competition between these brands in innovating and manufacturing automotive vehicles. Therefore, it would be beneficial to the marketers of E.V. on what factors of marketing can improve the demand for E.V. The purpose of this research is investigating the role of video marketing on the millennial’s intention to purchase electric vehicles. A quantitative approach was employed in this research, that attempted to test the impact of perceived usefulness and the playfulness of video on attitude towards brands and the consumers intention to purchase E.V. in Thailand. The study analysed 292 data points using Stata. It focused on the attitudes toward electric cars and the intention to buy one. It also looked into the various factors that influence the purchase decision of an electric vehicle. The study revealed that there is a significant correlation between the attitudes toward electric cars and the intention to buy one (p-value < 0.05). The study also revealed that the use of short-video commercials has a significant influence on the attitudes toward electric cars and the intention to buy one (p-value < 0.05), and that the purchase intention of an electric vehicle is strongly correlated with the attitude toward EVs (0.7256).
KEYWORDS:
Theory of Planned Behaviour, Selective Exposure Theory, Video Marketing, Electric Vehicles, Millennial’s Purchase Intentions, social media
REFERENCES:
1) Ajzen, I., (1991). The theory of planned behavior. Organizational behavior and human decision processes, 50(2), pp.179-211.
2) Balog, A. and Pribeanu, C., (2010). The role of perceived enjoyment in the students’ acceptance of an augmented reality teaching platform: A structural equation modelling approach. Studies in Informatics and Control, 19(3), pp.319-330.
3) Gefen, D. and Straub, D. (2000). The Relative Importance of Perceived Ease of Use in IS Adoption: A Study of E-Commerce Adoption. [online] ResearchGate. Available at: https://www.researchgate.net/publication/220580413_The_Relative_Importance_of_Perceived_Ease_of_Use_in_IS_Adoption_A_Study_of_E-Commerce_Adoption [Accessed 15 May 2022].
4) Ghazali, E., Soon, P.C., Mutum, D.S. & Nguyen, B., (2017). Health & food: Investigating consumers’ values for buying organic personal care products. Journal of Retailing & Consumer Services, 39, pp.154-163.
5) Global Data (2021). EVs finally began to fulfill prophecies in 2020 as sales grew 40.9% YOY. [online] Power-technology.com. Available at: https://www.power-technology.com/comment/evs-fulfil-prophecies-sales-grew/ [Accessed 20 Oct. 2021].
6) Kim, J., Ahn, S.J.G., Kwon, E.S. and Reid, L.N., (2017). TV advertising engagement as a state of immersion and presence. Journal of Business Research, 76, pp.67-76.
7) Lee, M.K., Cheung, C.M. and Chen, Z., (2007). Understanding user acceptance of multimedia messaging services: An empirical study. Journal of the American Society for Information Science and Technology, 58(13), pp.2066-2077.
8) Mohamad, S.S., Rusdi, S.D. & Hashim, N.H., (2014). Organic food consumption among urban consumers: Preliminary results. Procedia-Social & Behavioral Sciences, 130, pp.509-514.
9) Sinthamrong, P. and Rompho, N. (2015). Factors Affecting Attitudes and Purchase Intentions Toward Branded Content on Webisodes. [online] ResearchGate. Available at: https://www.researchgate.net/publication/290449156_Factors_Affecting_Attitudes_and_Purchase_Intentions_Toward_Branded_Content_on_Webisodes [Accessed 15 May 2022].
10) Tidmand, L. (2021). Building Positive Emotions and Playfulness. The Palgrave Handbook of Positive Education, 421–440. https://doi.org/10.1007/978-3-030-64537-3_17
11) Venkatesh, V. and Speier, C., 2000. Creating an effective training environment for enhancing telework. International Journal of Human-Computer Studies, 52(6), pp.991-1005.
12) Zillmann, D., (2000). Mood management in the context of selective exposure theory. Annals of the International Communication Association, 23(1), pp.103-123.
