아태비즈니스연구 (Asia-Pacific Journal of Business)

  • 제15권3호
  • /
  • Pages.1-16
  • /
  • 2024
  • /
  • 2233-5900(pISSN)
  • /
  • 2384-3934(eISSN)
강원대학교 경영경제연구소 (KNU The Institute of Management & Economy Research)
권호 표지
DOI QR코드

DOI QR Code

The Role of Consumers' Risk Propensity on Consumer Preference for Domestic VS. Global Brands

  • Bang-Wool Han (Department of International Trade, Jeonbuk National University)
  • 투고 : 2024.08.30
  • 심사 : 2024.09.25
  • 발행 : 2024.09.30
PDF 다운로드
⟨ 이전 논문 다음 논문 ⟩

초록

Purpose - The purpose of this study is to investigate how consumers' perceptions of brand localness or globalness influence their preference. This study further examines the role of consumers' risk propensity (risk taker vs. risk averse) on the relationship between brand localness (globalness) and consumer preference. Design/methodology/approach - Data was collected through an online survey with Chinese consumers and the PROCESS model in SPSS 23 was used to analyzed data. Findings - The results of this study indicate that consumers' perceptions of brand localness (globalness) positively influence their preference towards local (global) brands. Furthermore, this effect is moderated by risk propensity, with positive influence of perceived brand localness becoming stronger among consumers who are risk takers. However, consumers among risk averse reveal insignificant interaction effect between perceived brand globalness and consumer preference. Research implications or Originality - This study contributes to the body of international business research by exploring the impact of consumers' perceptions of brand localness/globalness in the context of their risk propensity. The findings of this study also offer global marketers meaningful insights when segmenting the target market.

키워드

과제정보

This research was supported by "Research Base Construction Fund Support Program" funded by Jeonbuk National University in 2024.

참고문헌

  1. Akram A., Merunka D., and A.M. Shakaib (2011). "Perceived brand globalness in emerging markets and the moderating role of consumer ethnocentrism", International Journal of Emerging Markets, 6(4): 291-303.
  2. Alden D.L., J.B.E.M., Steenkamp and R. Batra (2006). "Consumer attitudes toward marketplace globalization: Structure, antecedents and consequences", International Journal of Research in Marketing, 23(3): 227-239.
  3. Askegaard D.K. and Soren. (2006). "The glocalization of youth culture: the global youth segment as structures of common difference", Journal of Consumer Research, 33(2): 231-247.
  4. Baer, M. D., E. L., Frank, F. K., Matta, M. M., Luciano and N. Wellman (2021). "Undertrusted, overtrusted, or just right? The fairness of (in) congruence between trust wanted and trust received", Academy of Management Journal, 64(1): 180-206
  5. Bagozzi, R. P. and Y. Yi (1988). "On the evaluation of structural equation models", Journal of the Academy of Marketing Science, 16, 74-94.
  6. Barbosa, S. D., M. W., Gerhardt, and J. R. Kickul (2007). "The role of cognitive style and risk preference on entrepreneurial self-efficacy and entrepreneurial intentions", Journal of Leadership & Organizational Studies, 13(4): 86-104.
  7. Batra R., V., Ramaswamy, D., Alden, J., Steenkamp and S. Ramachander (2000). "Effects of brand local and nonlocal origin on consumer attitudes in developing countries", Journal of Consumer Psychology, 9(2): 83-95.
  8. Bridges E. and Renee. Florsheim (2008). "Hedonic and utilitarian shopping goals: The online experience", Journal of Business Research, 61(4): 309-314.
  9. Chan, T. S., G., Cui and N. Zhou (2009). "Competition between foreign and domestic brands: A study of consumer purchases in China", Journal of Global Marketing, 22(3): 181-197.
  10. Cho, J. and J. Lee (2006). "An integrated model of risk and risk-reducing strategies", Journal of business research, 59(1): 112-120.
  11. Choi B. and H.S. Kim (2020). "Customer-to-customer interaction quality, promotion emotion, prevention emotion and attitudinal loyalty in mass services", Journal of Service Theory and Practice, 30(3): 257-276.
  12. Choi W.J., H., Sun, Y., Liu and H. Chen (2019). "Guess who buys cheap? the effect of consumers' goal orientation on product preference", Journal of Consumer Psychology, 30(3): 506-514.
  13. Cleveland, M., M. Laroche and N. Papadopoulos (2009), "Cosmopolitanism, consumer ethnocentrism, and materialism: An eight-country study of antecedents and outcomes", Journal of International Marketing, 17(1): 116-146.
  14. Das, T. K. and B. S. Teng (2001). "Trust, control, and risk in strategic alliances: An integrated framework", Organization Studies, 22(2): 251-283.
  15. Davvetas V., A., Diamantopoulos and L. Liu (2020). "Lit up or dimmed down? why, when, and how regret anticipation affects consumers' use of the global brand halo", Journal of International Marketing, 28(3): 40-63.
  16. Davvetas V. and G. Halkias (2019). "Global and local brand stereotypes: formation, content transfer, and impact", International Marketing Review, 36(5): 675-701.
  17. Davvetas V., C., Sichtmann and A. Diamantopoulos (2015). "The impact of perceived brand globalness on consumers' willingness to pay", International Journal of Research in Marketing, 32(4): 431-434.
  18. Diamantopoulos A., V., Davvetas, F., Bartsch, T., Mandler, K.M., Arslanagic and M. Eisend (2019). "On the interplay between consumer dispositions and perceived brand globalness: alternative theoretical perspectives and empirical assessment", Journal of International Marketing, 27(4): 39-57.
  19. Dimofte C.V., J.K., Johansson and I. A. Ronkainen (2008). "Cognitive and affective reactions of U.S. consumers to global Brands", Journal of International Marketing, 16 (4): 113-135.
  20. Erdem, T. and J. Swait (2001). "Brand equity as a signaling", Journal of consumer Psychology, 7(2): 131-157.
  21. Fazli-Salehi, R., Torres, I. M., R., Madadi and M. A. Zuniga (2021). "Is country affinity applicable for domestic brands? The role of nation sentiment on consumers' self-brand connection with domestic vs foreign brands", Asia Pacific Journal of Marketing and Logistics, 33(3): 731-754.
  22. Gupta, S., D., Gallear, J., Rudd and P. Foroudi (2020). "The impact of brand value on brand competitiveness", Journal of Business Research, 112, 210-222.
  23. Hair, J. F., R. E., Anderson, B. J. Babin and W. C. Black (2010), Multivariate data analysis (7th ed.), Prentice Hall.
  24. Halkias G., V., Davvetas and A. Diamantopoulos (2016). "The interplay between country stereotypes and perceived brand globalness/localness as drivers of brand preference", Journal of Business Research, 69(9): 3621-3628.
  25. Hayes, A. F. (2017). Introduction to mediation, moderation, and conditional process analysis: A regression based approach. Guilford publication
  26. Heinberg M., H. E., Ozkaya and M. Taube (2017). "The influence of global and local iconic brand positioning on advertising persuasion in an emerging market setting", Journal of International Business Studies, 48(8): 1009-1022.
  27. Higgins E. Tory. (2002). "How self-regulation creates distinct values: the case of promotion and prevention decision making", Journal of Consumer Psychology, 12(3): 177-191.
  28. Hussein R. and S. Hassan (2018). "Antecedents of global brand purchase likelihood: exploring the mediating effect of quality, prestige and familiarity", Journal of International Consumer Marketing, 30(5): 288-303.
  29. Kashif M. and M. Udunuwara (2020). "Twenty years of research in brand globalness/localness: a systematic literature review and future research agenda", Journal of International Consumer Marketing, 33(2): 178-193.
  30. Kolbl Z., K.M., Arslanagic and A. Diamantopoulos (2019). "Stereotyping global brands: Is warmth more important than competence?", Journal of Business Research, 104: 614-621.
  31. Kuijpers, D., S., Wintels and N. Yamakawa, (2020). Reimagining food retail in Asia after COVID-19. McKinsey & Company. 1-4
  32. Kusumasondjaja, S., T., Shanka, and C. Marchegiani, Marchegiani, (2012). "Credibility of online reviews and initial trust: The roles of reviewer's identity and review valence", Journal of Vacation Marketing, 18(3): 185-195.
  33. Lee A. Y. and J. L. Aaker (2004). "Bringing the frame into focus: the influence of regulatory fit on processing fluency and persuasion", Journal of Personality and Social Psychology, 86(2): 205-218.
  34. Lim E.A.C. and S.H. Ang (2008). "Hedonic vs. utilitarian consumption: A cross-cultural perspective based on cultural conditioning", Journal of Business Research, 61 (3): 225-232.
  35. Liu Y., W.S., Tsai and W. Tao (2019). "The interplay between brand globalness and localness for iconic global and local brands in the transitioning Chinese market", Journal of International Consumer Marketing, 32(2): 128-145.
  36. Mandler T., F., Bartsch and C.M. Han (2020). "Brand credibility and marketplace globalization: The role of perceived brand globalness and localness", Journal of International Business Studies, 52: 1559-1590.
  37. Meertens, R. M. and R. Lion, (2008). "Measuring an individual's tendency to take risks: the risk propensity scale 1", Journal of applied social psychology, 38(6): 1506-1520.
  38. Mohan M., B.P., Brown, C., Sichtmann and K. Schoefer (2018). "Perceived globalness and localness in B2B brands: A co-branding perspective", Industrial Marketing Management, 72: 59-70.
  39. Moon (2019), Chinese shoppers say they would Shun American brands during the world's busiest 24 hours of online Shopping, South China Morning Post, October 30. https://www.scmp.com/business/china-business/article/3035584/chinese-shoppers-say-they-would-shun-american-brands-during
  40. Ng S. and R. Batra (2017). "Regulatory goals in a globalized world", Journal of Consumer Psychology, 27(2): 270-277.
  41. Nguyen A.H.M. and L.L. Alcantara (2020). "The interplay between country-of-origin image and perceived brand localness: An examination of local consumers' response to brand acquisitions by emerging market firms", Journal of Marketing Communications, 1-20.
  42. Nielson (2016), "Made in' matters... or does it? How consumer perceptions about country of origin are translating to purchasing behaviors around the world", The Nielsen Company, 1-18.
  43. Nicolaou, A. I. and D. H. McKnight (2006). "Perceived information quality in data exchanges: Effects on risk, trust, and intention to use", Information systems research, 17(4), 332-351.
  44. Ozsomer A. (2012). "The interplay between global and local Brands: A closer look at perceived brand globalness and local iconness", Journal of International Marketing, 20(2): 72-95.
  45. Ramesh, K., R., Saha, S., Goswami, Sekar, and R. Dahiya, (2019). "Consumer's response to CSR activities: Mediating role of brand image and brand attitude", Corporate Social Responsibility and Environmental Management, 26(2): 377-387.
  46. Randrianasolo Arilova A. (2017). "Global brand value in developed, emerging, and least developed country markets", Journal of Brand Management, 24(5): 489-507.
  47. Riefler, P. (2020). "Local versus global food consumption: The role of brand authenticity", Journal of Consumer Marketing, 37(3): 317-327.
  48. Schmidt D.E, A., Ozsomer and C.E. Newmeyer (2022). "How to go glocal: Omni-brand orientation framework", Journal of International Marketing, 30(4): 1-20.
  49. Schuiling Isabelle and Jean-Noel. Kapferer (2004). "Real Differences between Local and International Brands: Strategic Implications for International Marketers", Journal of International Marketing, 12(4): 97-112.
  50. Shan, J. and H. Lu (2021). "Global brand versus local brand: The regulatory focus perspective", E-Commerce and Internet Technology, 425-428.
  51. Sharma, P. (2010). "Country of origin effects in developed and emerging markets: Exploring the contrasting roles of materialism and value consciousness", Journal of International Business Studies, 42(2): 285-306.
  52. Sichtmann C., V., Davvetas and A. Diamantopoulos (2019). "The relational value of perceived brand globalness and localness", Journal of Business Research, 104: 597-613.
  53. Srivastava A., K., Dey Dipanjan and M.S Balaji. (2020). "Drivers of brand credibility in consumer evaluation of global brands and domestic brands in an emerging market context", Journal of Product & Brand Management, 29(7): 849-861.
  54. Steenkamp E M, J.B., Batra, Alden Rajeev and L. Dana. (2003). "How perceived brand globalness creates brand value", Journal of International Business Studies, 34(1): 53-65.
  55. Steenkamp E.M., J.B., Batra and M.G. Jong (2010). "A Global investigation into the constellation of consumer attitudes toward global and local products", Journal of Marketing, 74: 18-40.
  56. Swoboda B., K., Pennemann and M. Taube (2012). "The effects of perceived brand globalness and perceived brand localness in China: empirical evidence on western, Asian, and domestic retailers", Journal of International Marketing, 20(4): 72-95.
  57. Vuong B.N. and H.N. Khanh Giao (2019). "The impact of perceived brand globalness on consumers' purchase intention and the moderating role of consumer ethnocentrism: An evidence from Vietnam", Journal of International Consumer Marketing, 32(1): 47-68.
  58. Xia L., Wang J. and S. Santana (2021). "Nostalgia: Triggers and its role on new product purchase intentions", Journal of Business Research, 135: 183-194.
  59. Xie Y., Batra R. and S. Peng (2015). "An extended model of preference formation between global and local brands: The roles of identity expressiveness, trust, and affect", Journal of International Marketing, 23(1): 50-71.
  60. Yeung T. and C. Yu (2020). "Did the COVID-19 pandemic trigger nostalgia? Evidence of music consumption on spotify", Cepr Pres, 44: 154-185.
  61. Zhao L.A., L.N., Koenig, L.S., Hanmer and P. Ward (2010). "Adoption of internet banking services in China: is it all about trust?", International journal of bank marketing, 28(1): 7-26.
  62. Zou L.W. and R.Y.K. Chan (2019). "Why and when do consumers perform green behaviors? An examination of regulatory focus and ethical ideology", Journal of Business Research, 94: 113-127.