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MINISTRY OF EDUCATION AND TRAINING UNIVERSITY OF ECONOMICS HO CHI MINH CITY -0 RESEARCHING IMPACTS CONSUMER EXPERIENCE TO MULTIPLE GOALS AND SUPPLIER SELECTION – THE CASE OF HOUSING MARKET IN HO CHI MINH CITY Major: Commerce Code: 9340121 SUMMARY OF ECONOMIC DOCTORAL THESIS Ho Chi Minh City – 2022 The thesis was completed at : University of Economics, Ho Chi Minh City (UEH) Research supervisor: Associate Professor Bùi Thanh Tráng Reviewers : Reviewers : Reviewers : The dissertation will be defended in the dissertation Evaluation Council Of University of Economics Ho Chi Minh City On … Date Month Year The Thesis can be found at:…………….………… - National library of Vietnam - Library of University of Economics, Ho Chi Minh city CHAPTER 1: RESEARCH INTRODUCTION 1.1 RESEARCH BACKGROUND 1.1.1 Theory background This research project aims to provide a new explanatory framework for the structure of dimensions of consumer experience when influencing on multi-objectives and manufacturers’ choice which no previous research has ever mentioned or discovered (Schmitt & Zarantonello, 2013; Scussel, 2019) Besides, this project also clarifies the pursuit for multiobjectives due to the impact of decision experience during conducting purchasing behaviour, there has been a lot of studies on multiple goals during making decisions on purchasing but few has mentioned the experience and multiple-goal pursuit of consumers This thesis experiments the research model for the housing sector This study makes way for a research direction about investors providing housing that has not been studied in Viet Nam yet The main theoretical contribution of this thesis is the impact of the dimensions of consumer experience on the multiple-goal pursuit and supplier selection in case of consuming experience while purchasing houses 1.1.2 Housing market background From the perspective of people purchasing a house, multiple goals and making choices for purchasers, experimenting on housing sectors is new approaching and lacks attention In Viet Nam, researching on house purchasing behaviour under the basis of consumer experience theory has not been concerned so much lately Only a few studies have pointed out the elements affecting the apartment purchasing decision, which research on behaviour of purchasing high-end ones These studies ignore the aspect of homebuyer experience and decisions related to the goal of buying or choosing an investor In addition, the relationship between house buyers and purchasers (in the role of suppliers) still has not been mentioned in academic studies, even though the real estate business is expanding on a large scale, some has been evaluated as famous brands and becoming international reputable project developers Therefore, house developer’s experience is a new concern in this thesis 1.2 RESEARCH OBKECTIVES 1.2.1 General objectives This research objective is to propose a new theoretical model of the relationship between consumer experience impact and multiple goals in purchasing behavior along with the impact of consumer experience on supplier selection criteria From the research, we can make a conclusion of the theoretical relationship between consumer experience and multiple goals and supplier selection 1.2.2 Specific objectives The first is to identify the dimensions of consumer experience, multiple goals, and supplier selection Specifically, sets of research components are experimentally developed in house buyers’ behaviour Secondly, we have to inspect the theoretical model on the impact and relationship of consumer experience, multiple goals and selecting suppliers by using linear structural regression method The result is used to argue for contributions in the theoretical gap that the increase in customers experience impacts on purchasing objectives and supplier selection The third is to propose the application of research results for businesses that are business investors in the housing market in terms of consumer experience Fourthly, based on the results, it is suggested that governance helps housing business managers (developers) implement appropriate interactive marketing and create the right consumer experience 1.3 RESEARCH QUESTIONS Based on the research objective, this thesis proposes the following questions: - What is the set of dimensions of consumer experience and multiple-goal of house buyers? - What is the impact of dimensions of consumer experience on multiple-goal on choosing houses? - What is the impact of dimensions of consumer experience on house supplier selection? - Which meaningful governance implies for a house developer when designing a homebuyer experience to influence buying goals? 1.4 SCOPE OF RESEARCH 1.4.1 Research subject This research paper aims to explore the concept of consumer experience, clarifying the impact of consumer experience on multiple goals and supplier selections in home buying behavior Consumer experience is a combination of touchpoints between customers and business, product/service The consumer experience is the source of the two-way interactions between the customer and the product, company, or part of the organization/company stimulated with feedback from the client (Verhoef et al., 2009; Grewal et al., 2009) 1.4.2 Research scope and position The geographical range of the research is conducted in Ho Chi Minh City (HCMC), the housing market attracts a higher 60% investment than the average rate of Viet Nam This research carried out phases; pilot study and main survey for the entire interview sample observation period for periods from January 2018 to February 2020 Survey subjects (observations) in the study are commercial apartment buyers (according to Vietnam's housing law 2015), who are direct homebuyers or main decisionmakers in choosing the type of house and participating in the home buying process, and experience interactions with suppliers 1.5 RESEARCH METHODOLOGY 1.5.1 Qualitative method The synthesis of theory discusses the scientific basis of the theoretical gap, the measurement scale, and the argument of the research hypothesis Combinations documentary research from specialized housing reports and conduct in-depth interview with commercial apartment buyers and real estate agents for the purpose of explore research concepts as a basis for developing questionnaires for quantitative research 1.5.2 Quantitative method Quantitative research conducts two steps: pilot study and main study by using primary data collected from questionnaires Methods of sending questionnaires to direct interviews and sending questionnaires via mail to recipients to collect data for formal research with 805 valid samples Sequence analysis is confirmatory factor analysis CFA determination and secondorder SEM linear structure to prove the hypotheses according to the research model SPSS 25 and AMOS 20 software will be used to analyze the data and the most important part of this process is to consider the stability of the data to ensure research significance (Hair et al., 2011) 1.6 RESEARCH CONTRIBUTION 1.6.1 Theoretical contribution Based on the results of the research model to prove the consumer experience component affects the multiple goals of consumers and the supplier selection criteria Multiple goals of consumer influence supplier decisions in relation to businessgenerated experiences Experience in the housing market shows that there are types of experiences including consumption experience, environmental experience, convenience experience, incentive experience and utility experience which are important values to house buyers that investors need to create Similarly, there are types of goals homebuyers pursue: consumption goal, emotion goal, abstract goal, environment goal and learning goal The conclusion of this research paper also suggests that consumer experience design influences consumers' multiple-goals Besides, when a business tries to design a customer experience journey that will affect the goals that consumers pursue, a better experience will determine the choice of customers 1.6.2 Practical contribution The homebuyer's experience is related to the initiative of investors providing information, the simple transaction process, the willingness to meet customers, and financial advice when buying, the quality of construction, not depreciated, convenient to go to work and near shopping malls, cash discount program, discount, gift-giving and free management fees and commitment a fixed profit Finally, the buyer chooses the investor as a factor that provides sufficient information, considers compliance with the law (here is the basic legal framework of the housing project), commitment for house quality and the potential finance to implement the project (factors related to timely payment, and investment for various projects) In terms of governance implications, suggest managers of marketing and housing businesses design effective communication solutions through mass media channels, sales staff and consultants The homebuyer experience should emphasize specifically in sales and customer service, counseling and persuasion to help customers understand incentive activities with a discount policy Developer brand should be concerned by creating more experiences for customers, prestige will be shown through products, design and planning, choosing areas where possible Housing product development can add value Professionalism can come from interactive elements of experience in terms of access, transactions, utilities and customer care 1.7 DISSERTATION STRUCTURE This study is structured in chapters, of which chapter is an introduction to the research and presents an overview of the research about framework, questions, objectives, objects, methods, rationale and also the reason why choosing to research in the housing market Chapter presents an overview of the theory and research model proposal Chapter introduces the research methods, in which the process and mixed methods are shown Chapter is about the research results by testing the reliability scale; analyzing the EFA factor and CFA test factor; testing the hypothesis by SEM and Bootstrap model Chapter presents research conclusions about scientific implications in contributing to the theoretical basis, research methods and research context CHAPTER 2: LITERATURE REVIEW – RESEARCH MODEL 2.1 CONSUMER EXPERIENCE 2.1.1 Introduction of consumer experience theory The initial basis of the theory of consumer experience is inherited from the theory of information-processing and experiences, which later, the author Brakus called the information-processing and choice, is used by marketers in consumer behavior (Brakus, 2001; Holbrook & Hirschman, 1982) Brakus (2001) further has explained that consumer 17 CHAPTER 3: RESEARCH METHODOLOGY 3.1 RESEARCH DESIGN Bối cảnh nghiên cứu Mục tiêu nghiên cứu Tổng hợp thang đo nháp Tổng hợp sở lý thuyết Phỏng vấn chuyên sâu Điều chỉnh thang đo Hình thành thang đo nháp Nghiên cứu định lượng sơ (n =124) Cronbach alpha Loại biến có hệ số tương quan biến – tổng nhỏ 0.30 (Kiểm tra hệ số Cronbach alpha) Thang đo thức Nghiên cứu thức (n=805) Cronbach alpha & EFA CFA SEM (second order) Kết luận Hàm ý quản trị Figure: Process of the research Source: Suggestion of author 18 3.2 QUALITATIVE METHOD - IDIs In-depth interviews (IDIs) are used to “explore the understanding of an issue through talking to people about their perspectives” (Burgess, 2003) The interviewees are the closest people who directly buy (or are choosing to buy) a house, living in Ho Chi Minh City, the product they buy is a commercial apartment The sample size at the saturation expectation is 12 (4 salemans and homebuyers) to conduct this study 3.3 QUANTITATIVE METHOD - SEM Exploratory factor analysis (EFA - exploratory factor analysis) helps to correct the measurement and evaluate the validity of the measurements Confirmatory factor analysis (CFA) was used at the official research stage to close the scale with a number of valid observations of 805 Model fit analysis (Chi-square statistic, GFI, AGFI, RMSEA, NFI, TLI) Finally, the hypothesis was tested by second-order SEM analysis, Boostrap N=2000 test, and multi-group analysis 3.4 DEVELOPMENT OF MESUREMENT SCALE The draft scale is preliminarily studied with the size n = 124, this scale will be adjusted through Cronbach's Alpha >= 0.6 and the total correlation coefficient (Item - Total Correlation) > 0.3 The results of the consumer experience concept scale include observed variables (20 items), the multiple goals has observed variables (22 items), and supplier selection has items In the 19 preliminary research results, there are concepts that are not included in the official research, the concept of benefit experience (BEE) and trust experience (TRE), process goals (PRG), and social goals (SOG) did not reach the reliability index The reasons are specific to the housing industry in Vietnam and have been discussed in the preliminary results of the study CHAPTER 4: DATA ANALYSIS - DISCUSSION 4.1 SAMPLE CHARACTERISTIC The research sample is homebuyers living in Ho Chi Minh City, commercial apartment buildings in districts in Ho Chi Minh City The occupational structure is the group of employees from enterprises, self-employed, and other professional occupations, accounting for the majority of the respondents This study approached 1095 observations with a valid response rate of 805 samples The observed samples are housing projects of reputable investors, many of which have received the Vietnam Real Estate Developer Award 4.2 CREDIBILITY ANALYSIS After conducting the preliminary research, the official research will have 11 factors with 48 measurement scales that will be analyzed by Cronbach's Alpha at sample size 805 The remaining consumer experience scale is factors (with 20 items), the multiple goals have factors (20 items) and supplier selection has items to measurement 20 4.3 EXPLORATORY FACTOR ANALYSIS (EFA) EFA exploratory factor analysis by Principal Axis Factoring with Promax rotation, standard on |Factor Loading| Each Item >=0.5 total variance extracted >=50% KMO>=0.5, Bartlett test has statistical significance (Sig 5%, TLI (according to Tucker & Co Lewis), GFI (Goodnes Of Fit), CFI (Comparative Fit Index) Indicators TLI, GFI, CFI have values from 0.8 In addition, in the CFA analysis additional assessments should be performed; unidirectionality, reliability, convergent validity, discriminant validity (Steenkamp & Van Trijp, 1991, Nguyen Dinh Tho, 2011) As a result, there are 11 concepts in the final measurement model including: Consumer experience (incentive experience (ICE), environment experience (EXE), convenience experience (CNE), utility experience (UTE), accessibility experience (ACE)), Multi-goal (environmental goal (EVG), abstract goal (ABG), learning goal (EVG), consumption goal (COG) , emotion goal (EOG) and Supplier Selection (SPS), The results of the CFA 21 analysis of the critical model (Figure 4.6) show that the model fits the market data, values of the scales are really different in the model; specifically: Chi – squared = 2537,785; df = 890; P = 0.000; GFI = 0.870; TLI = 0.877; CFI = 0.890; RMSEA = 0.048 Figure 4.6: Critical measurement model CFA results Source: Research results of the author 4.5 STRUCTURAL EQUATATION MODELING (SEM) The results of the analysis of research concepts are statistically significant at the 95% confidence level The estimated results of the research model show that the models have 921 degrees of freedom, Chi-squared = 3351,417, GFI = 0.837, TLI = 0.825, CFI = 0.837, RMSEA = 0.057, RMR = 0.028, ECVI 22 = 4,452, AIC = 3579,417 and CAIC = 4228,173 Thus, it can be concluded that the model is compatible with market data The results of the effects of the hypothetical concepts are statistically significant (p < 0.05) as shown in Figure 4.7 (see the study appendix) Figure 4.:7 SEM second order research model Source: Research results of the author Testing the research model by SEM of first order with 11 research concepts and hypotheses about the relationship The results of the SEM linear structural analysis of the scale showed that the scales all reached the appropriate level with the data based on the criteria of convergent value, discriminant value, aggregate reliability, and method wrong quote Therefore, the 23 hypotheses proposed in the model will not change The estimated results of the normalized research model show that the models have 921 degrees of freedom, Chi-squared = 2728,220, GFI = 0.863, TLI = 0.870, CFI = 0.879 RMSEA = 0.049 Thus, it can be concluded that the model is compatible with market data The results of the effects of the hypothetical concepts are statistically significant (p < 0.05) as shown in Figure 4.9 Hình 4.9: Structural Equation Modeling (SEM)-Normalization Source: Research results of the author 24 4.6 BOOTSTRAP TESTING According to Byrne (2013), Bootstrap is used to assess the reliability of the quantities in the model study In many of the currently registered studies, N =
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