Factors Influencing the Industrial Purchase Intention of Rubber Chemicals for The Manufacturing Firms in Rubber Industry
Keywords:
Rubber Chemicals, Rubber Industry, Industrial Market, Business-to-Business, Industrial Purchase IntentionAbstract
As Thailand is one of the hubs for the world's leading car manufacturers and the strategic location for the world's leading tire manufacturers and other rubber products, fierce competition can be expected in the rubber chemical market in order to meet the needs and attract more manufacturing firms as their customers. Studying how factors influence the industrial purchase intention of rubber chemicals becomes crucial to adapt business strategies. This research then studies factors influencing the purchase intention of rubber chemicals for the rubber industry, an industrial market (business-to-business or B2B) in Thailand. The existing researches focus mostly on understanding a consumer market (business-to-consumer or B2C). Given that consumers in these two markets have different buying behavior, a better understanding of how different factors impact the industrial purchase intention will provide a competitive advantage to businesses in the market. This paper employs multiple regression analysis to investigate the relationship between independent variables (brand awareness, value for money, quality, after-sales services, country of origin, supply ability, perceived economic situation, and firm performance) and a dependent variable (purchase intention). The result shows that value for money, after-sales services, supply ability, and firm performance were positively significant towards the purchase intention. Based on the results, the following suggestions are made. To increase sales, the suppliers must have good knowledge to give advice to the customers, especially during the after-sale. Supply continuity and flexibility are very crucial in this market given many stakeholders are involved along the supply chain. Therefore, good teamwork in a company is necessary to manage the supply chain and create supply security in the mind of the customers.References
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