MINISTRY OF EDUCATION AND TRAINING STATE BANK OF VIETNAM HO CHI MINH UNIVERSITY OF BANKING PHAM LE QUYNH HOA FACTORS AFFECTING THE CUSTOMER’S PURCHASE INTENTION IN THE PAID MUSIC STREAMING SERVICES IN HO CHI MINH CITY GRADUATION THESIS Major: BUSINESS ADMINISTRATION Code: 7 34 01 01 HO CHI MINH CITY - 2022 MINISTRY OF EDUCATION AND TRAINING STATE BANK OF VIETNAM HO CHI MINH UNIVERSITY OF BANKING Student's name: PHAM LE QUYNH HOA Student’s ID: 050606180118 Class: HQ6-GE08 FACTORS AFFECTING THE CUSTOMER’S PURCHASE INTENTION IN THE PAID MUSIC STREAMING SERVICES IN HO CHI MINH CITY GRADUATION THESIS MAJOR: BUSINESS ADMINISTRATION CODE: 7 34 01 01 Instructor: PhD. PHAM THI HOA HO CHI MINH CITY - 2022 TÓM TẮT Dưới sự phát triển không ngừng của nền kinh tế, cơ hội việc làm ngày càng mở rộng, việc lựa chọn công việc phù hợp với chuyên môn được đào tạo là đề tài thu hút sự quan tâm của sinh viên sắp tốt nghiệp nói riêng và xã hội nói chung. Trong quá trình lựa chọn một ứng dụng để nghe nhạc, khách hàng quan tâm đến rất nhiều yếu tố. Ngoài những quan tâm ứng dụng phải đáp ứng nhu cầu cơ bản là nghe nhạc và thư giãn, khách hàng còn quan tâm đến nhiều yếu tố hơn như về giá cả, tính năng, độ bảo mật thông tin khách hàng.
Do vậy, các tổ chức doanh nghiệp luôn đưa ra những chiến lược kinh doanh nhằm tác động, thúc đẩy đến ý định mua dịch vụ của khách hàng. Tác giả thực hiện đề tài “Yếu tố ảnh hưởng đến ý định mua nhạc trực tuyến có trả phí của khách hàng tại thành phố Hồ Chí Minh” nhằm mục tiêu: (1) Xác định các yếu tố ảnh hưởng đến ý định mua nhạc trực tuyến có trả phí của khách hàng tại thành phố Hồ Chí Minh; (2) Đo lường mức độ ảnh hưởng của các yếu tố ảnh hưởng đến ý định mua nhạc trực tuyến có trả phí của khách hàng tại thành phố Hồ Chí Minh; (3) Đề xuất một số hàm ý quản trị cho doanh nghiệp nhằm giúp doanh nghiệp có định hướng phù hợp trong quá trình lên kế hoạch tuyển dụng nhằm thức đẩy tỷ lệ khách trả tiền cho dịch vụ nghe nhạc trực tuyến. Trong quá trình nghiên cứu để đạt được kết quả này, tác giả đã đưa ra một mô hình nghiên cứu đề xuất được phát triển dựa trên tổng quan tài liệu và kế thừa mô hình TPB đồng thời hiệu chỉnh một số yếu tố cho phù hợp với bối cảnh nghiên cứu và người tiêu dùng tại Việt Nam. Quy trình nghiên cứu được thực hiện qua ba bước: một là xây dựng biến, hai là đánh giá sơ bộ và ba là đánh giá chính thức.
Kết quả nghiên cứu cho thấy các yếu tố như: Intrinsic Rewards, Extrinsic Rewards, Identity Sailience, Psychology Ownership có tác động thuận chiều đến ý định mua của khách hàng và các yếu tố mang tính rủi ro như Finance Risk, Product Risk, Security Risk, Time Risk tác động ngược chiều đến ý định mua dịch vụ của khách hàng. ABSTRACT Modern society is developing day by day, people's needs are increasing day by day. Besides basic needs such as eating, drinking, working, etc., entertainment needs are also an essential thing in people's daily lives. And music is also one of them, today's music has become an important part of daily life and listening to music online is an inevitable trend in the age of technology.
In the process of choosing an application to listen to music, customers pay attention to many factors. In addition to the application concerns that must meet the basic needs of listening to music and relaxing, customers are also interested in more factors such as price, features, customer information security. Therefore, business organizations always come up with business strategies to influence and promote customers' intention to buy services. The author conducts the topic " Factors Affecting The Customer‘s Purchase Intention In The Paid Music Streaming Services In Ho Chi Minh City" with the aim of: (1) Determining the factors affecting the intention to buy paid music streaming services by customers in Ho Chi Minh City; (2) Measuring the influence of factors affecting the intention to buy paid music streaming services by customers in Ho Chi Minh City; (3) Proposing some managerial implications for businesses to help businesses have appropriate orientation in the recruitment planning process in order to promote the rate of paying customers for online music services.
In the research process to achieve this result, the author has come up with a proposed research model developed based on the literature review and inherited the TPB model and adjusted some factors accordingly. research context and consumers in Vietnam. The research process is carried out through three steps: one is the construction of the variable, the second is the preliminary assessment and the third is the formal assessment. Research results show that factors such as Intrinsic Rewards, Extrinsic Rewards, Identity Sailience, Psychology Ownership have a positive impact on customers' purchase intention and risk factors such as Finance Risk, Product Risk, Security Risk, Time Risk have negative effects on customers' intention to buy services.
The research process is carried out through three steps: one is the construction of the variable, the second is the preliminary assessment and the third is the formal assessment. Next, individual in-depth interviews and group interviews were conducted to explore and develop observed variables used in the measurement of research concepts and to build theoretical models for research. Information collection is done through discussion between selected subjects and researchers, based on the outline outlined in advance. This study is based on the application of techniques such as Crobach‘s Alpha reliability factor testing, EFA discovery factor analysis, SEM linear structure model and Bartlett's test.
Information was collected by questionnaires to survey the opinions of customer in Ho Chi Minh City. According to the results of this study, personal opinion is measured by 5 observed variables (or 5 criteria). Social support is measured by 4 observed variables. Academic achievement is measured by 5 observed variables.
Internship experience is measured by 4 observed variables. Financial expectations are measured by four observed variables. Organizational brand is measured by 3 observed variables. And finally, the student's intention to apply is measured by 3 observed variables.
The results of the measurement models show that, after adding and adjusting, the scales achieve reliability and allowable value. There are three main limitations in this study. First, this essay was only done at the Banking University of Ho Chi Minh City. Secondly, This study only considers 8 influencing factors, but there are many other factors that can affect customers' intention to purchase MAAS.
Lastly, when responding to a survey, the respondents may answer honestly or lack interest, leading to a big impact on the research results. DECLARATION My name is Pham Le Quynh Hoa, a student in class HQ6-GE08, majoring in Business Administration with high quality training, Banking University of Ho Chi Minh City. Ho Chi Minh. I declare: ―This thesis has not been submitted for a degree at any university.
This thesis is the author's own research work under the guidance of lecturers, the research results are honest, in which there are no previously published contents or contents made by others. except for citations that are fully cited in the thesis.‖ Ho Chi Minh City, November 22nd, 2022 Thesis‘s Author Pham Le Quynh Hoa ACKNOWLEDGEMENT First and foremost, I would like to express my heartfelt gratitude to my supervisor, Dr. Pham Thi Hoa, for providing me with important information as well as good recommendations for my bachelor's thesis, as well as for his patience, enthusiasm, and inspiration. Furthermore, I am grateful to not just the professors and lecturers from Ho Chi Minh University of Banking who supplied me with vital information and skills throughout my time there.
Last but not least, I also want to thank the examiners for devoting their significant time to reviewing my thesis. TABLE OF CONTENTS CHAPTER 1. Background of the study. Research Objectives and Research Questions.
Research Subjects and The Scope of Research. The practical significance of the thesis. Previous Empirical Studies. Theoretical Background and Hypothesis Development.
Data Analysis Methods. RESEARCH RESULTS AND DISCUSSION. FURTHER RESEARCH DIRECTIONS. 53 LIST OF FIGURES Figure 1 - Proposed Conceptual Model by Vafa Saboori-Deilami and Chang Seob Yeo (2019).9 Figure 2 - Conceptual Model by J Y Chai, L K K Ken, K H Chan, S X Wan1 and T T Ting (2021) .11 Figure 3 - Conceptual Model by Mariana Lopes Barata and Pedro Simoes Coelho (2021) .12 Figure 4 - Conceptual Model of Thomas M.
Wagner and Thomas Hess (2013).14 Figure 5 - Conceptual Model .21 Figure 6 - Research process .30 Figure 7 - Hypothesis Testing .44 SYMBOLS AND ABBREVIATIONS TABLE Number Symbols Detail name 1 IFPI International Federation of Phonographic Recordings 2 TPB Theory Planned Behavior 3 MSS Music Streaming Services CHAPTER 1. Background of the study According to a Q&Me report that conducted a survey based on 1500 people including 18 to 44 years old nationwide in 2021, music is the most favorite entertainment medium of Vietnamese people with more than 70% of people listening to the survey music for more than 30 minutes a day. Currently, the popular music listening applications of Vietnamese people are mostly non-paid applications such as Youtube Music, Zing Mp3, NhacCuaTui, etc. This is not difficult to understand when Vietnam is a country that has not had any copyright protection laws for products ranging from music to movies.
But in recent years, the emergence of international music applications such as Spotify, Apple Music, Itunes,. has changed the landscape for the Vietnamese music market. Streaming is popular in developed music industries. In 2022, streaming grew by 65% of the total revenue of the global music industry - a marked increase on the prior year‘s growth rate (+24.3%), and had over 532 millions user of paid subscription accounts, according to a report released by the International Federation of Phonographic Recordings (IFPI).
The development of streaming contributes to building a civilized music environment because it is closely tied to the interests of artists, music listeners and product copyrights. In Vietnam, streaming is at an early stage with great potential: 39,6% of people listen to music streaming services, the average music streaming time per day is about 1 hour and 11 minutes (Updated January 2022 of We Are Social). Revenue in the Music Streaming segment is projected to reach US$26.70m in 2022 and expected to show an annual growth rate (CAGR 2022-2027) of 6.66%, resulting in a projected market volume of US$36. The race to win the hearts of listeners is not only in the criteria of copyright or monopoly business but also in technical and technological factors to optimize the user's listening experience.
1 Researches on Music Streaming Services have attracted special attention from domestic and foreign researchers. Studies have shown a lot of different factors affecting the intention to buy as well as use paid music services. D rr et al. 2010 examined different service features‘ influence on people‘s willingness to pay for MaaS services by surveying 132 MaaS users.
D rr 2012 applied the Theory of Planned Behavior TPB to look behind music pirates‘ intentions to use MaaS and to pay for such services. A total of 132 music pirates would use the basic, free version but had very little intention to pay for the premium version. Users‘ subjective norms and attitudes towards the service proved to have the most predictive power when explaining people‘s intention to use MaaS. MaaS‘s relative advantage over illegal downloading influenced users‘ attitudes towards the service.