BỘ GIÁO DỤC VÀ ĐÀO TẠO TRƯỜNG ĐẠI HỌC KÌNH TÉ TP. HÒ CHÍ MINH BÁO CÁO TÓNG KÉT ĐÈ TÀI NGHIÊN cứu KHOA HỌC THAM GIA XÉT GIẢI THƯỞNG “NHÀ NGHIÊN CỨU TRẺ UEH” NĂM 2023 AMPLIFYING BRAND IMPACT: UNRAVELING THE DYNAMICS OF SOCIAL MEDIA MARKETING, EWOM, AND BRAND EQUITY IN SHAPING PURCHASE INTENTIONS Thuộc nhóm chuyên ngành: 1 (Ghi 1 sô trong 7 chuyên ngành quy định tại điêu 2 thệ lệ cuộc thi) TP. HỒ Chí Minh, tháng 2/2024 Abstract: Due to the widespread use of the Internet, social media has emerged as a key tool for online marketing campaigns. Both individuals and businesses construct fan pages on internet platforms and use social media to create commercial prospects.
While several studies have looked at social media in the past, very few have touched on how social media marketing works. This study suggests that brand equity, eWOM, hedonic brand attitude and utilitarian brand attitude work as mediators to mediate the impacts of social media marketing activities on purchase intention. This study performed an online poll on 230 social media users, especially in Instagram and then analyzed the results to empirically examine the effects of social media marketing operations. The analytical findings showed that brand equity is indirectly impacted by social media marketing efforts on eWOM, Hedonic brand attitude and Utilitarian brand attitude.
Keywords: social media marketing activities; brand equity; eWOM; hedonic brand attitude; utilitarian brand attitude; purchase intention. CONTENTS CHAPTER 01: INTRODUCTION. Research background and statement of the problem. Subject and scope of research.
7 CHAPTER 02: LITERATURE REVIEW AND HYPOTHESIS DEVELOPMENT. Prior relevant studies. Effect of social media marketing on Instagram towards purchase intention: Evidence from Indonesia’s ready-to-drink tea industry. Mediating role of hedonic and utilitarian brand attitude between eWOM and purchase intentions: a context of brand fan pages in Facebook.
Measuring consumer perception of social media marketing activities in e commerce industry: Scale development & validation. Understanding the effect of social media marketing activities: The mediation of social identification, perceived value, and satisfaction. Do brands' social media marketing activities matter? A moderation analysis 15 2. Influence of sensory stimuli on brand experience, brand equity and purchase intention.
Social eWOM: does it affect the brand attitude and purchase intention of brands?. Online purchase intention in Chinese social commerce platforms: Being emotional or rational?. Hedonic and utilitarian value as a mediator of men’s intention to purchase cosmetics. Examining the role of consumer motivations to use voice assistants for fashion shopping: The mediating role of awe experience and eWOM.
Social media marketing activities (SMMA). Hedonic Brand Attitude - Utilitarian Brand Attitude. Electronic word-of-mouth (eWOM). The influence of SMMA on Brand Equity.
The Influence of Brand Equity on eWOM. The Influence of eWOM on Hedonic and Utilitarian Brand Attitudes. The influence of Hedonic and Utilitarian Brand Attitude on Purchase Intention. 28 CHAPTER 03: RESEARCH METHOD.1 Qualitative Research Design.2 Qualitative Research Result.2 Sample and data collection.3 Data Analysis Methods.
37 CHAPTER 04: DATA ANALYSIS AND RESULTS.1 Sample and data collection.2 Measurement Model Analysis.1 Measurement of Quadratic Variable Performance.2 Measurement Model Analysis.3 Structural Model Analysis. Market segment analysis. Other Qualitative Variables. 53 CHAPTER 5: DISCUSSION AND CONCLUSION.
Social Media Marketing Activities.3 Electronic word-of-mouth.4 Hedonic Brand Attitude. Utilitarian brand attitude. Limitations, Future research.68 Appendix 1: Group Discussion Outline. Social media marketing activities.
Electronic word-of-mouth (eWOM). Utilitarian Brand Attitude. Hedonic Brand Attitude. 77 Appendix 2: List Of Participants In The Group Discusssion.
77 Appendix 3: group discussion results. 79 Appendix 4: Original Measurements.80 Appendix 5: Measurements Translated to Vietnamese. 83 Appendix 6: Questionnaire design.90 LIST OF TABLES Table 3. 2Confirmatory factor analysis: SMM activities.
4Structural Model of Quadratic Variable. 7 Hypothesis Testing Results. 8 Independent Samples Test. 79 Table A4 1 Original Measurements.
1 Measurements “Social media marketing activities” translated. 2Measurements “Brand Equity*' translated. 3Measurements “Electronic word-of-mouth” translated. 4Measurements “Utilitarian Brand Attitude” translated.
5Measurements “Hedonic Brand Attitude” translated. 6Measurements “Purchase Intention” translated. 89 TABLE OF DIAGRAMS AND FIGURES Diagram 1. Evaluate the quality of the observed variables of the first-order variable 44 Diagram 2The significance of the contribution of the first-order variable to the second-order variable.
IThe research model of Aji el al. 2The research model of Sambashiva Rao Kunja et al. 3The research model of Mayank Yadav et al. 4The research model of Chen et al.
5The research model of Imran Khan. 6The research model of António c. 7The research model of Chetna Kudeshia et al. 8The research model of Umair Akram el al.
9The research model of Han-Chiang Ho et al. lOThe research model of Pradeep Kautish et al. 21 LIST OF ACRONYMS No. Original Acronym 1 AD Advertisement 2 AVE Average Variance Extracted 3 BE Brand equity 4 CFA Confirmatory Factor Analysis 5 CR Composite Reliability 6 cus Customization 7 ENT Entertainment 8 EW/ EWOM Electronic word-of-mouth 9 FAT Functional Attitude Theory 10 HBA Hedonic Brand Attitude 11 1NT interaction 12 OPI Online purchase Intention 13 PI Purchase Intention 14 S-O-R Stimulus-Organism-Response 15 SEM Linear Structural Equation Modeling 16 SMMA Social media marketing activities 17 TPB Theory of Planned Behavior 18 TRA Theory of reasoned action 19 TRE Trendiness 20 UBA Utilitarian Brand Attitude 21 WOM Word-of-mouth 1 CHAPTER 01: INTRODUCTION 1.
Research background and statement of the problem In recent years, there has been significant optimism and excitement surrounding the vital importance of social media as a leading virtual platform for consumer interaction (Khan, 2022). Its emergence is a direct reflection of the human need for interpersonal contact, enabling social interactions in the virtual world through social networking services (Chen & Lin, 2019). The convenience of real-time messaging has greatly facilitated online connections and information sharing (Chen & Lin, 2019). Social media marketing can be defined as commercial activities or procedures that leverage social media to positively influence customers' purchasing decisions (Chen & Lin, 2019).
One of the key reasons for the extensive attention received by social media based marketing is the significantly higher recall rates of social media advertisements compared to conventional ones (Seo & Park, 2018). Social media, according to Bazi et al. (2020), has long been regarded as the most effective way for customers to stay in touch with one another and communicate with peers about their preferred brands. This, in turn, has made social media immensely popular not only among users but also among companies, which actively utilize it as a marketing communication medium (Yadav & Rahman, 2017).
As of July 2022, Social media users grew by 227 million over the past year, reaching 4.70 billion by the start of July 2022, with 17% of them using Instagram (We Are Social, 2022). Social media is now being used by businesses to make their brand widely promoted and increase brand equity (Aji et al. As of September 2022, Vietnam had 72.1 million internet users (accounting for 73.2% of the population) in their daily life. With this number, Vietnam ranks 12th in the world for the highest number of internet users.
According to the Vietnam Digital 2021 Overview Report published by We are Social and Kepios at the beginning of 2022, Vietnam has 76.95 million social media users (accounting for 97.8% of the population aged 13 and above) which is equivalent to 71 percent of the total population. The number of social media users is also increasing rapidly (up 6.9% in 2022 compared to 2021). However, 90% of Instagram users have claimed to have interacted with a company on the platform (Aji et 2 al. The 1SMMA industry has been growing quickly over the past decade and is expected to do so again in many years to come.
The global SMMA industry is anticipated to increase from $3.6 billion in 2020 to $15.6 billion by 2025, at a CAGR of 34.0% over the course of the prediction period, according to an analysis by MarketsandMarkets. (Godey et al., 2016; Aji et al., 2020) A significant aspect in determining a brand’s success is social media. Therefore, it is crucial to research and gauge the significant impact of social media on Vietnam. Enterprises are looking for new methods for exploiting social network platforms as they grow quickly in order to improve user connection and communication.
Building digital communities for brands and cultivating a sense of intimacy are the goals (Chen & Lin, 2019). Businesses can connect with their target market on these websites and build an impressive online presence, which is a great opportunity. The popularity of social media among consumers and businesses alike has increased as a result of its expanding significance, which is fueled by its capacity to allow virtual connections and its marketing efficacy (Chen & Lin, 2019). ((Haudi et al., 2022) Brand equity benefits from social media marketing initiatives.
Users that regularly use the internet will therefore be interacting with social activities and advertisements on media more often, providing them with a positive image and the real version of social media. In various past studies (Tasci., 2021; Hazee et al., 2018), the important role of brand equity in fundamental marketing concepts is being discussed. Brand equity may be thought of as a motive or reason to acquire a certain brand, as the higher the brand equity, the stronger consumers’ preferences and purchase intentions (Moreira et al. Brand equity for the hotel industry affects purchasing intent in both direct and indirect ways (Liu et al.
Social media provides consumers with the opportunity to engage in immediate feedback and communication by expressing their opinions, providing comments, and suggesting improvements regarding products or services (Aji et al. This real time interaction allows consumers to easily find and acquire the products they need. Additionally, customers utilize social media platforms to share their brand experiences and provide reviews (Kunja et al. These reviews, coupled with the overall brand experience, play a significant role in shaping consumer perceptions.
The availability of 3 online reviews on social media platforms is highly beneficial for consumers, as it enhances their confidence in making purchase decisions (Aji et al. By accessing reviews and feedback from other consumers, potential buyers gain valuable insights and feel more confident in their choices. Consequently, consumers are inclined to be influenced by the content shared by brands on social media, prompting them to seek detailed information about the products or services offered (Aji el al. The emergence of social media has introduced a new dimension to electronic word-of-mouth (eWOM) by enabling internet users to communicate with people they already know.
Unlike other online platforms such as discussion forums, consumer review sites, blogs, and shopping websites, which facilitate eWOM among anonymous users (Erkan & Evans, 2018), social networking sites allow users to post recommendations and opinions about products or services on their profile pages. The intention behind this is to influence the decision-making of friends, acquaintances, and potential consumers within their networks (Kudeshia & Kumar, 2017). There is an ongoing debate among researchers regarding the potential effects of reduced anonymity on social media as an eWOM platform. However, empirical testing of these effects has been limited due to the relative novelty of social media websites.
Some researchers consider anonymity advantageous for eWOM, as it encourages consumers to share their opinions more comfortably (Erkan & Evans, 2018). Nonetheless, marketers recognize eWOM in social commerce, particularly through brand fan sites, as one of the most effective methods for engaging with existing and new consumers. Recently, there has been significant scholarly interest in exploring the relationship between electronic word-of-mouth (eWOM) and purchase intention (PI). Studies have shown that eWOM can either enhance or reduce purchase intention (Kunja et al.
Further research focusing on mediating or moderating variables can contribute to our understanding of how eWOM functions, particularly in emerging nations with large populations of young people. Consumers' purchase decisions for brand-name goods are influenced not only by the product's quality but also by the brand's value and symbolic significance. The concept of brand equity, which explores the significance of brands in customer purchasing choices, has been extensively studied (Aji et al.