the impact of kocs on gen zs purchasing decisions

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FPT UNIVERSITY- CAMPUS CAN THO

Group Assignment [MKT301] Instructor: Võ Minh Sang Class: BA1601

Group: 2 Member:

Cần Thơ, 3/2024

Lương Nhật Linh - CA160275 Nguyễn Khôi Nguyên - CS160831 Trần Thị Thanh Thùy - CS160910 Nguyễn Nhật Quang – CS160243 Lê Nhựt Thanh - CS160006 Trần Quốc Tiến – CS160924

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2 TABLE CONTENT

I. INTRODUCTION ... 3

II. LITERATURE REVIEW ... 4

III. THEORETICAL MODEL ... 5

IV. RESEARCH HYPOTHESES ... 6

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I. INTRODUCTION

A burgeoning trend reshaping consumer purchasing behaviours is the emergence of Key Opinion Consumers (KOCs) on social media platforms. These influential figures, commonly known as "KOCs," have garnered substantial online followings, capitalising on their expertise, charisma, and firsthand product experiences to deliver impactful reviews that sway audience buying decisions. The pervasive reach of influencer marketing across diverse sectors has gained notable traction in today's digital landscape. Within this milieu, consumers frequently seek guidance and endorsements from influencers, with KOCs assuming a central role in the decision-making process, as their insights and recommendations are esteemed and relied upon by their followers. The study titled "THE IMPACT OF KOCS ON GEN Z’S PURCHASING DECISIONS" seeks to delve into the dynamic interplay between KOCs and Gen Z, specifically focusing on the expertise of KOCs. By examining various facets of KOCs knowledge and its impact on Gen Z, these findings carry significant implications for scholars and practitioners in the field.

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4 II. LITERATURE REVIEW

Theory

The study's theoretical framework draws from the Source Credibility Theory (SCT) and the Elaboration Likelihood Model (ELM). SCT proposes that a message's persuasiveness hinges on the perceived credibility of the source, comprising expertise and trustworthiness dimensions (Hovland et al., 1953). ELM posits two routes of persuasion: the central route, which involves extensive cognitive effort and message evaluation, and the peripheral route, characterized by low cognitive effort and reliance on cues like source attractiveness or likability (Petty & Cacioppo, 1986). According to these theories, KOCs can influence Gen Z’s purchasing decisions through both routes of persuasion. On the one hand, KOCs can enhance their credibility by demonstrating their expertise and trustworthiness, and persuade Gen Z consumers to adopt their opinions and recommendations through the central route. On the other hand, KOCs can enhance their attractiveness by showing their likability and similarity to Gen Z consumers, and persuade them to follow their endorsements through the peripheral rout e.

Published Result Research

Several studies have examined the impact of KOCs on consumers’ purchasing decisions in different contexts and platforms. For example, Phan and Nguyen (2023) conducted a quantitative study on the influence of KOCs on customers’ purchase intention via TikTok in Vietnam. They found that KOCs’ expertise, trustworthiness, and likability had positive effects on their source credibility and purchase intention. They also found that source credibility mediated the relationship between KOCs’ attributes and purchase intention. However, they did not consider the moderating effects of product involvement, social media platform, and cultural factors.

Another study by Zhu and Hassett (2022) explored the importance of cultivating KOCs for western brands in China. They argued that KOCs were more effective than KOLs in reaching and engaging with Gen Z consumers, who valued word- -mouth ofand authenticity. They also suggested that KOCs could help brands build trust and loyalty, and increase conversion rates. However, they did not provide empirical evidence to support their claims.

Context

The context of this study is the impact of KOCs on Gen Z’s purchasing decisions in the global market, with a focus on the US, China, and Vietnam. These three countries

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represent different levels of economic development, social media penetration, and cultural diversity, which may affect the behavior and preferences of Gen Z consumers and KOCs. The study will compare and contrast the similarities and differences among these countries, and examine how they moderate the impact of KOCs on Gen Z’s purchasing decisions.

III. THEORETICAL MODEL

Based on the literature review, the theoretical model of this study is shown in Figure 1. The model hypothesizes that KOCs’ expertise, trustworthiness, and likability have positive effects on their source credibility and Gen Z consumers’ purchase intention. It also hypothesizes that source credibility mediates the relationship between KOCs’ attributes and purchase intention. Moreover, it hypothesizes that product involvement, social media platform, and cultural factors moderate the impact of KOCs on Gen Z’s purchasing decisions.

Figure 1: Theoretical Model - The Impact of KOCs on Gen Z’s Purchasing

Decisions

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6 IV. RESEARCH HYPOTHESES

H1: KOCs' knowledge influences Gen Z's purchasing decisions.

H2: The popularity and popularity of KOCs affect Gen Z's purchasing decisions. H3: Benefits and Content of KOCs influence Gen Z's purchasing decisions. H4: The authenticity of KOCs' content influences Gen Z's purchasing decisions. H5: KOCs' customer service influences Gen Z's purchasing decisions.

V. THE SCALE Scale of components

The quality of information that KOCs has is good K1

Provide detailed and specific information K2

In-depth understanding of the product or service sector K3

The depth of KOCs' knowledge of the product or service area K4

KOCs in understanding and empathizing with consumer needsperspectives.

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KOCs understand and empathize with consumer needs and perspec K6

Popularity and love level of KOCs PL

KOCs understand and empathise with consumer needs and perspec PL1 The average interaction rate per post or video is relatively high PL2 The number of shares and comments on KOCs' content is relatively PL3 The level of participation of KOCs in events, exhibitions, or coopera

The popularity and popularity of KOCs in the specific industry they rev

Benefits and Content of KOCs BC

KOCs' information and suggestions are meaningful and usef

The content shared by KOCs contains specific instructions and usef

Customers perceive value and meaning from the product or service

The authenticity of the content of KOCS A

The content shared by KOCs is honest and uses customer-frlanguage.

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Table 1: Scale of components

To fit the research context of the topic, observed variables are referenced and adjusted accordingly. Various data processing techniques were used to ensure accurate examination and measurement of observed variables. These variables are measured on a 1-5 Likert scale, from strongly disagree (1) to strongly agree (5).

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9 VI. RESULT AND DISCUSSION 1. Frequency

In a survey encompassing 311 responses, a comprehensive breakdown across various demographics and behaviors was observed. The sample included 165 men and 146 women, with a notable concentration of individuals under aged 18 (2.9%), followed by those aged 18 to under 22 (78.5%), and between 22 to under 30 years old (18%). Educational backgrounds varied, with general education accounting for 3.5%, intermediate level for 1.0%, college education for 4.2%, and a significant 84.9% from universities, while graduate schools represented 6.4%.

Regarding current employment, students comprised the largest cohort at 90.4%, followed by workers-employees (4.2%), trade and business professionals (4.5%), and a minority in civil service and state employment (0.6%), with a solitary individual categorized as 'Other' (0.3%).

Income distribution revealed 34.4% earning under 3 million VND, 47.3% earning between 3 to 5 million VND, 12.9% earning between 5 to 10 million VND, and 4.8% earning over 10 million VND monthly.

Online shopping habits showed that 48.6% shopped less than three times a month, 40.8% shopped between three to five times, and 10.0% shopped over five times monthly, with a minor 0.6% missing response rate.

When analyzing expenditure per purchase, 43.1% spent under 500,000 VND, 46.6% spent between 500,000 to 1,000,000 VND, 9.3% spent between 1,000,000 to 2,000,000 VND, and only 0.6% spent over 2,000,000 VND, with a marginal 0.3% missing response rate.

This comprehensive analysis offers insights into demographic, educational, occupational, and consumer behavior patterns among the surveyed population.

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10 2. Cronbach alpha

Variables Code Correlated Item - Total Correlation

Knowledge of KOC’s (K), Cronbach’s Alpha = 0.833

The quality of information that KOCs has is goo K1 0.618

Provide detailed and specific information K2 0.571

In-depth understanding of the product or servsector

Popularity and love level of KOCs (PL), Cronbach’s Alpha = 0.825

KOCs understand and empathise with consu

The average interaction rate per post or viderelatively high

PL2 0.608

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PL4 0.601

The popularity and popularity of KOCs in tspecific industry they review is high.

PL5 0.640

Benefits and Content of KOCs (BC), Cronbach’s Alpha = 0.841

KOCs' information and suggestions are meanin

and useful in customers' product choices. BC1 0.634 The content shared by KOCs contains spec

instructions and useful tips for customers. BC2 0.624 The content of KOCs often shares information ab

offers, promotions, or discount codes BC3 0.674 Customers will buy directly from sales links

social networking sites that KOCs share.

BC4 0.622

Customers perceive value and meaning from

product or service based on the content of the K BC5 0.669

The authenticity of the content of KOCS (A), Cronbach’s Alpha = 0.814

The content shared by KOCs is honest and customer-friendly language.

A1 0.619

The content KOCs share will often expre

themselves in a personal and natural way. A2 0.615 KOCs' sharing of experiences increases authent

KOCs have the ability to evaluate their opiniohonestly and can adjust their opinions if they recefeedback from customers.

A4 0.605

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The Coefficients table shows that:

All independent variables have Sig below 0.5 - all five independent variables have an impact on the dependent variable.

The variance inflation factor (VIF) of the variables ranges from 1.1 to 1.3. All independent variables are below 2. Therefore, in this case, the independent variables do not have a significant degree of simultaneous correlation with each other, which makes the model more stable and reliable. The regression coefficients estimated from the model will have higher accuracy and can be used to predict the relationship between the dependent variable and the independent variable effectively.

We have the regression equation:

PC = 0.224*K + 0.239*PL + 0.258*BC + 0.308*A + 0.299*CS Commentary:

If K increases by 1 standard deviation unit and other factors remain constant, the variable PC will increase by 0.224 standard deviation units.

If PL increases by 1 standard deviation unit and other factors remain constant, the variable PC will increase by 0.239 standard deviation units.

If BC increases by 1 standard deviation unit and other factors remain constant, the variable PC will increase by 0.258 standard deviation units.

If A increases by 1 standard deviation unit and other factors remain constant, the variable PC will increase by 0.308 standard deviation units.

If CS increases by 1 standard deviation unit and other factors remain constant, the variable PC will increase by 0.299 standard deviation units.

The Beta coefficient of the A variable is the largest, indicating the strongest impact on the dependent variable.

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Therefore, based on the standardized regression coefficient (Beta), the factor The authenticity of the content of KOCs (A) has the greatest influence on purchase intention of Gen Z.

The results of the ANOVA analysis confirmed that the linear regression model was statistically significant, and every independent variable had a significant influence on the dependent variable. This shows the diversity and strength of the factors studied.

Among the independent variables, CS (Customer Service) and A (Authenticity) have been identified as having the greatest influence on Gen Z's purchasing decisions. This can make a statement about the importance importance of customer service quality and product authenticity to this customer group.

However, other variables such as K (Knowledge), PL (Popularity and Love), and BC (Benefits and Content) also have a significant impact on Gen Z's purchasing decisions, however the level of influence is limited. they are lower than those of CS and A.

In summary, this study provides the information needed to better understand how KOCs influence the shopping behavior of Gen Z groups. These results provide a basis for marketers and businesses in Build effective marketing and advertising strategies to reach and interact with customers in this target group.

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25 VII. REFERENCE

Bucknell Bossen, L., & Kottasz, R. (2020). The impact of TikTok on consumer behaviour. Journal of Customer Behaviour, 19(3), 215-228.

Feldkamp, A. (2021). TikTok: The new influencer marketing hub. Journal of Digital & Social Media Marketing, 9(1), 4-13.

Francis, T., & Hoefel, F. (2018). ‘True Gen’: Generation Z and its implications for companies. McKinsey & Company.

Haenlein, M., Anadol, E., Bayarri, A., Cacioppo, J. T., Eichstaedt, J. C., Godart, F., … & Libai, B. (2020). Customer engagement through social media influencers: How to identify, classify, and choose influencers. Journal of Interactive Marketing, 51, 71-85.

Hovland, C. I., Janis, I. L., & Kelley, H. H. (1953). Communication and persuasion; psychological studies of opinion change. Yale University Press.

Kanwar, P., & Huang, Y. (2022). The impact of celebrity endorsements on consumer purchase intention: A study of Indian consumers. Journal of Promotion Management, 28(1), 1-18.

Nielsen. (2015). Vietnam’s Generation Z: Dynamic, digital and distinctly different. Petty, R. E., & Cacioppo, J. T. (1986). The elaboration likelihood model of persuasion. In Communication and persuasion (pp. 1-24). Springer, New York, NY. Phan, N. T. T., & Nguyen, T. M. (2023). The influence of key opinion consumers on customers’ purchase intention via TikTok: The case of generation Z in Vietnam. Review of Integrative Business and Economics Research, 13(1), 51-70.

Statista. (2020). Most popular apps in the world as of July 2020, by number of downloads.

Vietnam Briefing. (2019). Vietnam’s Generation Z: Shaping new trends.

Xiong, J., & Yi, Y. (2019). The rise of short video platforms in China: A review and outlook. International Journal of Communication, 13, 23.

Zhu, M., & Hassett, E. (2022). Getting closer to consumers with KOCs, the Chinese micro-influencers. The Drum.

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