UNIVERSITY OF ECONOMICS AND BUSINESS FACULTY OF POLITICAL ECONOMY GRADUATION THESIS TOPIC: RESEARCH ON THE IMPACT OF ELECTRONIC WORD-OF- MOUTH (EWOM) ON STUDENTS’ PURCHASING DECISION ON THE TIKTOK SHOP E-COMMERCE SITE IN HANOI LECTURER: Ph. D PHAM THỊ LINH STUDENT: NGUYEN MINH ANH STUDENT CODE: 19050013 GRADE: QH-2019-E ECONOMIC CLC 5 UNIVERSITY OF ECONOMICS AND BUSINESS FACULTY OF POLITICAL ECONOMY GRADUATION THESIS TOPIC: RESEARCH ON THE IMPACT OF ELECTRONIC WORD-OF- MOUTH (EWOM) ON STUDENTS’ PURCHASING DECISION ON THE TIKTOK SHOP E-COMMERCE SITE IN HANOI LECTURER: Ph. D PHAM THỊ LINH STUDENT: NGUYEN MINH ANH STUDENT CODE: 19050013 GRADE: QH-2019-E ECONOMIC CLC 5 ACKNOWLEDGEMENT To complete this graduation thesis, I would like to express my sincere thanks to the Faculty of Political Economy for creating favorable conditions and supporting me to carry out the project with some of the most shared materials. In particular, I would like to express my deep gratitude to Ph.D Pham Thi Linh has enthusiastically guided and guided me during the past time.
She guided, contributed ideas and imparted valuable knowledge to me in the most complete way on the topics of the material to help me complete the topic of this graduation thesis. However, due to limited knowledge, my research paper cannot avoid errors and misunderstandings. That's why I look forward to receiving your comments so that my research can be more complete and can contribute to the community. Finally, I would like to send my best wishes to you and your family.
Wish you always healthy and achieve success on your teaching path. Thank you sincerely! Student Nguyen Minh Anh GUARANTEE I hereby declare that this graduation thesis topic is my own work under the guidance of Ph.D Pham Thi Linh, absolutely do not copy previous research works. The secondary information used in the research is clearly sourced and properly cited. I take full responsibility for the scientific and originality of this research topic.
Student Nguyen Minh Anh TABLE OF CONTENTS LIST OR TAML.vằscềằĂiv(2cc o.0t6600066620 LIST OF FIGUIREVS.00 000000096 809088906 LIST OF ABBREVIATIONS. The reason for choosing the f0ĐÌÍC. Objects and scope of the research. cece eee eeeeseeeseeessecsseeeeeeeeeseeenseesaeenes 4 2.
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RECOMMENAATIONS tO COTISHIHICS. Recommendations for TiktOK SNOP. c5 SE E+seeEeeeeeeses 85 CONCLUSIOÌN. 0G Go cọ nọ cọ.
so Go Họ.000000000000000066806008006008056008008808080 92 LIST OF TABLES Table Name of Table Page number Table 1.1 The Difference between WOM and eWOM 30-31 Table I.2 | The Difference between Tiktok Shop and other 37-39 e-commerce sites Table 3.1 Statistical table of the proportion of male and 50-51 female students accessing electronic Word of Mouth (eWOM) Table 3.2 | Statistical table of the percentage of students 51 with access to Electronic Word of Mouth (eWOM) Table 3.3 Statistical table of frequency of access to 52 student eWOM Table 3.4 | Statistical table of the percentage of students 53 using Tiktokshop after accessing eWOM Table 3.5 | Average Statistical Sample of Information 57 Needs Table 3.6 | Average Statistical Sample of Information 57-58 Quality from eWOM Table 3.7 | Average Statistical Sample of Reliable 58 Sources Table 3.8 | Average Statistical Sample of eWOM 59 Quantity Table 3.9 | Average Statistical Sample of Attitude with 59-60 Information Table 3.10 | Average Statistical Sample of Information 60-61 Acceptance Table 3.11 | Average Statistical Sample of Purchase 61 Decision Table 3.12 | Cronbach’s Alpha coefficient analysis of 62 Information needs Table 3.13 | Cronbach’s Alpha coefficient analysis of 63 Information quality from eWOM Table 3.14 | Cronbach’s Alpha coefficient analysis of 64 Reliable Sources Table 3.15 | Cronbach’s Alpha coefficient analysis of 65 EWOM Quantity Table 3.16 | Cronbach’s Alpha coefficient analysis of 66 Attitude with information Table 3.17 | Cronbach’s Alpha coefficient analysis of 67 Information acceptance Table 3.18 | Cronbach’s Alpha coefficient analysis of 68 Purchasing Decision Table 3.19 | KMO and Bartlett’s test results for 69 independent variable Table 3.20 | Eigenvalues and variance extracted from 69-70 independent variables Table 3.21 | Rotated component matrix with independent 70-72 variable Table 3.22 | KMO and Bartlett’s test results for dependent 72 variables: Information Acceptance Table 3.23 | Eigenvalues and variance extracted from 73 dependent variables Information Acceptance Table 3.24 | Componet Martrix for the dependent variable 73 Information Acception Table 3.25 | KMO and Bartlett’s test results for dependent 74 variables: Puchasing Decision Table 3.26 | Eigenvalues and variance extracted from 74-75 dependent variables Purchasing Decision Table 3.27 | Componet Martrix for the dependent variable 75 Purchasing Decision Table 3.28 | Pearson’s correlation analysis 76-78 Table 3.29 | Adjust R square result 79 Table 3.30 | ANOVA result for the dependent variable 80 Information Acceptance Table 3.31 | Regression analysis results of the independent 81 variables Table 3.32 | Adjust R square result of dependent variable 85 Purchasing Decision Table 3.33 |ANOVA result of depedent variable 86 Purchasing Decision Table 3.34 | Regression analysis results of the dependent 87 variables Table 3.35 | Independent samples Test T-Test with gender 91-92 variable Table 3.36 | Levene test results of Accessed to EWOM 92 Table 3.37 |ANOVA results of Accessed to EWOM 93 LIST OF FIGURES Figure Name of Figure Page number Figure I.I | Theory of Reasoned Action/ TRA 40 Figure 2.1 | Proposed research model 42 Figure 3.1 | Frequency of standardized residual of 82 dependent variable Information Acceptance Figure 3.2 | Normal P-P Plot of Regression Standardized 83 Residual of dependent variable Information Acceptance Figure 3.3 | Regression Standarized Predicted Value of 84 Dependent Variable Information Acceptance Figure 3.4 | Regression Standardized Residual of 88 Dependent variable Purchasing Decision Figure 3.5 | Normal P-P Plot of Regression Standardized 89 Residual Dependent variable: Purchasing Decision Figure 3.6 | Regression Standardized Predicted Value of 90 Dependent variable Purchasing Decision LIST OF ABBREVIATIONS Abbreviati Name of Abbreviations EWOM Electronic Word of Mouth WOM Word of Mouth TRA Theory of Reasoned Action TPB Theory of Planned Behavior SEO Search Engine Optimization FOMO Fear of missing out KOL Key Opinion Leader KOC Key Opinion Consumer INTRODUCTION 1. The reason for choosing the topic In today's 4.0 era, the Internet is a computer network that allows millions of users to communicate daily. Users have access to many resources on the internet to find information and give opinions, think and connect with communities around the globe. The old industrial age has been radically changed by an era of industrial revolution 4.0 with a huge amount of information that can be easily accessed by everyone in any country, at any time.
With the explosion of information and the increasing development of the internet, it has completely changed the method of searching for product information in online shopping of consumers. Traditional methods of reaching customers are gradually disappearing, besides consumers are becoming more bored and wary of advertising messages and product marketers everywhere, the Internet has provided another better method for consumers, which is Electronic Word of Mouth (eWOM). Electronic World of Mouth (eWOM) is the core research content in consumer behavioral science. In the context that Vietnam is experiencing an incredible growth and use of the Internet, eWOM is a highly effective marketing tool in business communication and online shopping.
This method has helped customers find, access information and consider advice on the quality of products, related to consumption from other consumers easily, affecting the promotion of trade and promoting the purchase decision process of consumers. After using the product, consumers can leave comments, comments, reviews about the experience of themselves, discussion forums on community networking sites such as Facebook, Instagram. Online shopping applications and websites that are familiar to consumers such as Shopee, Lazada. all have product reviews for customers.
From there, new consumers can follow and use personal opinions and experiences from old users to be able to compare and choose products that are good and suitable for themselves. It can be seen that review sites have a direct influence on consumers' purchasing decisions and these have created an increasingly large and diverse online word-of-mouth community, greatly affecting the business of individuals, small businesses or even large businesses. Therefore, with the unique characteristics of the Internet, electronic word-of- mouth (eWOM) has received a lot of attention from marketing researchers and managers. The form of online shopping is growing and bringing a lot of outstanding efficiency, Vietnam is becoming the second largest e-commerce market in Southeast Asia with a young population and a large number of Internet users.
According to Vietnamnet, in 2020, there will be about 49.3 million consumers participating in online shopping. The percentage of Internet users participating in online shopping increased from 77% in 2019 to 88% in 2020. From there, it can be seen that Vietnam is making a leap in the e-commerce industry and online trading and exchange methods in the market. This also accelerates the growth of eWOMin internet shopping in Vietnam.
Of Vietnam's more than 99 million people, as of January 2023, 77.93 million people use the Internet, about 78.35% of the total population, and more than a third of these people use the Internet, mainly young people who live in cities and are always ready to shop. It is easy to see that the majority of internet users are between the ages of 15 and 24, the age of students. With the increasing demand for shopping and availability, the main customer group and the main target of e- commerce and online shopping in recent years is this group. Therefore, I have selected students as the main research group because they are accessible, modern for the internet, highly qualified and grasp technology very quickly, relatively free in terms of finance and spending.
In addition, I realize that there is not much research on the impact of electronic Word of Mouth (eWOM) on the choice of online shopping in major cities, economic and political centers, rich in potential and strong development in the e-commerce industry like Hanoi. In addition, the Tiktok shop platform is an e-commerce platform that can be accessed directly from the Tiktok social networking platform with up to 1| billion monthly users by September 2021. According to Metric.vns e-commerce statistics, the monthly revenue from Tiktok Shop is currently equal to 80% of Lazada's revenue over the same period and 4 times that of Tiki. Data from September 13, 2022 to October 12, 2022 according to Metric, in just 30 days, Tiktok Shop has achieved revenue of VND 1655 billion, with 14 million products sold.
It can be seen that Tiktok Shop is a potential e-commerce platform for businesses to optimize conversion rates and revenue. Therefore, the research topic "Researching the impact of electronic word of mouth (eWOM) on the purchase decision on Tiktok Shop e-commerce site of students in Hanoi city" has been selected and completed.