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Impact of brand image and advertisement on consumer buying behavior (Athens, Greece)
(10/27/2021) Tsokana, Asimina; Τσοκανά, Ασημίνα; Athens University of Economics and Business, Department of Business Administration; Siomkos, George I.; Kardaras, Dimitris; Kaperonis, Stavros
The background of this Master's thesis focuses on the impact of brand image and advertisement on consumer buying behavior especially for the millennials (generation Y) in the prefecture of Attica, Greece. Accordingly, the current research is aimed to find out whether men differ from women on their consumer buying behavior. Regarding the methodological approach in the context of the current dissertation, primary quantitative research was carried out with sample design elements, through a structured questionnaire, which delivered online, via social media and email. The population of the survey consists of Greek adult consumers in the age of 18 to 25 (Generation Y) living in the prefecture of Attica. The survey sample is composed of one hundred and five participating consumers (n = 105). By collecting the quantitative data, a frequently and effective method was used. In addition, the current survey consists of three research queries, “Does brand image impacts consumer buying behavior and to what extent?” “Does advertisement impact consumer buying behavior and to what extent?”. “Do men differ from women on their consumer buying behavior?” These queries are being answered from the research tool, which consists of 28 closed-ended questions and is composed of four parts. The first part of the questionnaire measures the latent variable "Brand image", consists of eleven closed-ended questions with their predetermined answers and corresponds to the first research query. The second part of the questionnaire consists of six closed questions with predetermined answers, measures the latent variable "Advertisement" and corresponds to the second research query. The third part of the questionnaire consists of six closed questions with predefined answers, measures the latent variable "consumer buying behavior" and corresponds to the third research query. The scale used to collect the data in the questions for the first three parts is a five-point ordinal Likert scale. It consists of five categories with alternative answers ranged from "Strongly disagree" to "Strongly agree" with a score of one to five respectively. The fourth part of the questionnaire includes five closed-ended questions with a single choice from a set of suggested answers that are measured on a nominal scale. Thus, the collection of personal-demographic data of the participants is achieved, such as gender, age, marital status, monthly income, and employment status. By analyzing all the data of the current research and answering its queries, descriptive and inductive statistical methods were used via SPSS. In addition, the -under investigation- latent variables were formed, which emerged during the statistical analysis of the data. The analysis of the data on the first query reveals, on the one hand, that there is a positive correlation of moderate degree between the "Brand Image" and "Consumer buying behavior". On the other hand, "Brand Image" explains a very significant percentage of the variation of the variable "Consumer buying behavior". These results indicate the definite positive effect of the variable "Brand Image" by defining the variable "Consumer buying behavior", in the context of a causative relationship between them and lead to the conclusion that Millennials, as consumers, understand the significant effect of "Brand Image" in defining "Consumer buying behavior". Accordingly, there is, also a positive correlation of moderate degree between "Advertisement" and "Consumer buying behavior". In addition, "Advertisement" explains a very significant percentage of the variation of the variable "Consumer buying behavior". This effect though, is greater than the corresponding positive effect of the variable "Brand Image". The variable "Advertisement" explains a more increased percentage by 7.3% of the variation of the variable "Consumer buying behavior" on what is predicted by the variable "Brand Image". Last but not least, it is found that the variable "Gender" does not impact the perceptions of Millennials, as consumers, in the current survey on "Consumer buying behavior". These results are associated with the difficulties that the Covid-19 pandemic brings in Greece and seems to change consumer buying behavior. The financial crisis and the new daily life that pandemic bring as well, impact and changed the consumer’s point of view around their purchase intention and how consumers are being influenced.