The impact of green marketing strategy on young consumers’ purchasing intention in Ho Chi Minh city

ABSTRACT:

This study explores the impact of green marketing strategies on the purchase intentions of young consumers in Ho Chi Minh City. Using a survey targeting individuals aged 18 to 40, the research collected 220 valid responses through a convenient sampling method. Key green marketing factors influencing purchase intentions were identified through descriptive statistics, Cronbach’s alpha reliability testing, exploratory factor analysis (EFA), and linear regression analysis. The findings reveal six significant factors affecting young consumers' purchase intentions: Green Value, Green Labeling, Green Packaging, Green Price, Green Place, and Green Promotion. These insights provide a foundation for businesses to enhance their green marketing strategies and better cater to environmentally conscious consumers.

Keywords: green marketing strategy, purchase intention, young consumers, Ho Chi Minh City.

1. Introduction

In Vietnam, green marketing is no longer an alien phrase as it was when it first emerged in the market. Vietnamese consumers have been paying more and more attention to the products they use, and their impact on the environment. Businesses operating in the Vietnamese market are also becoming more attentive to environmental-related issues.

Ho Chi Minh City, serving as a major center for economics, culture, education, and scientific-technological advancements, has the population aged between 18 and 49 in the city over 4 million people. It is evident that young people possess the necessary awareness to understand the world around them and exhibit a pronounced concern for the natural environment. Therefore, understanding how green marketing influences their purchasing intentions will help businesses shape their future strategies. To assess the impact of green marketing strategies on the purchase intentions of young consumers and analyze the factors affecting young consumers' purchasing intentions in Ho Chi Minh City, the research team selected the topic “The impact of green marketing strategy on purchasing intention of young consumers in Ho Chi Minh City”.

2. The research overview

2.1. Research on green marketing strategy factors affecting purchasing intention

Green value has a significant effect on purchasing intention (Khatun & Roy, 2022). According to Zhuang et al. (2021), the positive effect of perceived green value on green purchasing intention was further confirmed through meta-analysis research that explored the factors influencing green buying intention.

Majeed et al. (2022indicate that green packaging has a positive relationship with green purchase intention. Similarly, Khatun and Roy (2022) emphasize that green packaging significantly impacts green buying intention.

The relationships between eco-labelling and green purchase intention are significant positive (Majeed et al., 2022). According to Khatun & Roy (2022), green labeling significantly influences consumers’ green buying intention.

Besides, green price also has a significant positive relationship with purchase intention (Devina et al., 2022; Ahmed et al., 2022; Tamim & Akter, 2024). According to Genoveva and Levina (2019), there is a significant influence of green marketing mix aspects towards consumers’ purchase intention, in which green price is playing a dominant role in this relationship.

There is a positive relationship between green place and purchase intention (Mahmoud, 2018). Kaur et al. (2022) indicate that green place significantly impact green buying intentions (Ahmed et al., 2022; Tamim and Akter, 2024).

According to Mahmoud (2018), green promotion has a positive relationship with purchase intention. Likewise, Karunarathna et al. (2020) found that green promotion significantly impacts buying intention (Kaur et al., 2022, Ashoush and Kortam, 2022; Devina et al., 2022; Tamim and Akter, 2024).

2.3. Research model

Based on the results of previous studies on the impact of green marketing strategy on purchasing intention, the study proposes six factors of green marketing strategy impacting purchasing intention, consist of: Green Value (GV); Green Packaging (GPK); Green Labeling (GL); Green Price (GP); Green Place (GPL); Green Promotion (GPM).

Research hypotheses:

H1(+): Green Value has a positive impact on young consumers’ purchasing intention

H2(+): Green Packaging has a positive impact on young consumers’ purchasing intention.

H3(+): Green Labeling has a positive impact on young consumers’ purchasing intention.

H4(+): Green Price has a positive impact on young consumers’ purchasing intention.

H5(+): Green Place has a positive impact on young consumers’ purchasing intention.

H6(+): Green Promotion has a positive impact on young consumers’ purchasing intention.

3. Research method

To conduct regression analysis best, the sample size needs to ensure the formula: n > 8m + 50 (Tabachnick & Fidell, 1996). The project is expected to have 6 groups of factors, so the minimum sample size is 98. The topic selects 220 observations. The study used Cronbach's alpha coefficient, EFA, and Linear regression to determine the level of green marketing strategy’s factors affecting young consumers’ purchasing intention in Ho Chi Minh City.

4. Research results and discussion

4.1. Cronbach’s alpha reliability test

The Cronbach’s alpha reliability test results showed that 28 observed variables met the conditions in the reliability analysis (Cronbach’s alpha coefficient of the scale > 0.6 and the correlation coefficient of the total variable > 0.3).

Table 2. The reliability of the scale

                                                                               Source: Data analysis results, 2024.

4.2. Exploratory factor analysis (EFA)

4.2.1. Analysis of independent factors

The KMO value is intended to consider the appropriateness of a factor analysis. The results of KMO reached a value of 0.887 (0.5 < KMO < 1); Barlett’s Test on the correlation of the observed variables has significance level Sig.= 0.000 ≤ 0.05; The Eigenvalues parameter result is 1.109 > 1; The total variance extracted is 71.217%, greater than 50%. Observed variables GV1, GPK3, GL3, GPL3, GPM1, GP3, respectively, have the most practical significance in the Green Value; Green Packaging; Green Labeling; Green Place; Green Promotion; Green Price.

Table 3. Exploratory factor analysis results for independent variables

                      Source: SPSS analysis results conducted by our research team, 2024.

4.2.2. Analysis of dependent variable factors

Results of EFA for dependent variables: coefficient KMO = 0.754 (0.5 KMO = 0.754 ≤ 1); Barlett’s Test has significance level Sig.= 0.000 ≤ 0.05; The result of the Eigenvalues parameter is 2.823 > 1; value of total variance extracted = 70.564% (> 50%). The results of exploratory factor analysis show that the dependent variable, Purchase Intention (PI), includes PI2, PI3, PI4 and PI1.

4.3. Linear regression analysis

The model has an Adjusted R squared of 51.5      %; that is, the variation in consumers' purchase intention explained by six factors is 51.5%. The analysis results show that the significance level of 1% (Sig = 0.000) shows that the linear regression model is suitable for the data set and can be used. The Durbin-Watson coefficient = 1.867, ranging from 1.5 to 2.5, shows that the model has no autocorrelation and the VIF coefficient < 2, indicating that the regression model has no phenomenon multicollinearity.

Table 3. Linear regression analysis

                                                                                Source: Data analysis results, 2024.

Standardized regression equation:

Y = 0.401*GV + 0.319*GL + 0.292*GPK + 0.280*GP + 0.236*GPL + 0.215*GPM

With the regression coefficient β = 0.401, Green Value holds the highest value in the model. This finding aligns with previous research conducted by Ahmed et al. (2022), and Khatun & Roy (2022). A unit increase in Green Value leads to a 0.401 increase in consumers’ purchase intentions.

Green Labeling factor positively influences consumers' purchase intentions (β = 0.319), ranking second in the extent of its effect. This result is consistent with the previous research conducted by Majeed et al. (2022), Kanade & Harwani (2022), Khatun & Roy (2022).

Green Packaging holds the third position regarding its positively impact on consumers’ purchase intentions, with a regression coefficient β = 0.292. Moreover, the Green Price factor (β = 0.280), the Green Place factor (β = 0.236), and the Green Promotion factor (β = 0.215) also display a positive influence on consumer purchasing intentions.

5. Conclusion

The factors of green marketing strategy that positively affect young consumers' purchase intentions are Green Value, Green Labeling, Green Packaging, Green Price, Green Place, and Green Promotion. The research team offers the following recommendations to businesses, consisting of integrating community-driven evaluations and interactive product trials; enhancing awareness and appeal of green packaging through educational content on social media, interactive technology, and innovative design, combined with trial campaigns and the involvement of influencers; emphasizing the environmental value of green products through marketing messaging.

References:

[1] Ahmed, R. R., Streimikiene, D., Qadir, H., & Streimikis, J. (2023). Effect of green marketing mix, green customer value, and attitude on green purchase intention: Evidence from the USA. Environmental Science and Pollution Research, 30(5), 11473–11495.

[2] Ashoush, N. & Kortam, W. (2022). The impact of green marketing strategies on consumers’ purchasing intention. The Business and Management Review, 13(2), 263–275.

[3] Chen, Y.-S. & Chang, C.-H. (2012). Enhance green purchase intentions: The roles of green perceived value, green perceived risk, and green trust. Management Decision, 50(3), 502–520.

[4] Dhewi, T. S., Adi Putra, I. W. J., ., S., & Wahyudi, H. D. (2018). The Influence of Green Perceived Value and Green Perceived Risk Perceptions on the Green Product Purchase Intention. KnE Social Sciences, 3(3), 411–425.

[5] Kaur, B., Gangwar, V. P. & Dash, G. (2022). Green Marketing Strategies, Environmental Attitude, and Green Buying Intention: A Multi-Group Analysis in an Emerging Economy Context. Sustainability, 14(6107), 1–16.

[6] Khatun, A. & Roy, S. K. (2022). Do Green Marketing Strategies Influence Green Buying Intentions? Evidence from Developing Economy. International Journal of Innovative Science and Research Technology, 7(10), 766–777.

[7] Tamim, M. S. R., & Akter, L. (2024). Green marketing impact on youth purchasing: Bangladesh district-wise study on consumer intentions. Annals of Management and Organization Research, 5(3), 205–217.

[8] Trivedi, R. H., Patel, J. D., & Acharya, N. (2018). Causality analysis of media influence on environmental attitude, intention and behaviors leading to green purchasing. Journal of Cleaner Production, 196, 11–22.

Ảnh hưởng của chiến lược marketing xanh đến ý định mua hàng của người tiêu dùng trẻ tại Thành phố Hồ Chí Minh

ThS. Nguyễn Trung Tiến¹

Châu Nguyễn Gia Hân²

Nguyễn Phan Vân An²

Lê Thị Ngọc Mai²

Phan Minh Thư²

Lâm Thanh Trúc²

¹Khoa Quản Trị, Đại học Kinh tế TP. Hồ Chí Minh – Phân hiệu Vĩnh Long

²Sinh viên Đại học Kinh tế TP. Hồ Chí Minh – Phân hiệu Vĩnh Long

TÓM TẮT:

Nghiên cứu phân tích ảnh hưởng của chiến lược marketing xanh đến ý định mua hàng của người tiêu dùng trẻ tại Thành phố Hồ Chí Minh. Nghiên cứu đã tiến hành khảo sát tại Thành phố Hồ Chí Minh với những người tham gia trả lời là người tiêu dùng trẻ trong khoảng từ 18 tuổi đến 40 tuổi và thu được 220 mẫu khảo sát hợp lệ. Dữ liệu sử dụng trong nghiên cứu được thu thập bằng phương pháp lấy mẫu thuận tiện. Các yếu tố marketing xanh ảnh hưởng đến ý định mua hàng được đo lường và xác định thông qua thống kê mô tả, kiểm định hệ số Cronbach’s alpha, phân tích nhân tố khám phá (EFA) và phân tích hồi quy tuyến tính. Kết quả nghiên cứu cho thấy có 6 yếu tố ảnh hưởng đến ý định mua hàng của người tiêu dùng trẻ tại Thành phố Hồ Chí Minh, bao gồm Giá trị xanh, Nhãn hiệu xanh, Bao bì xanh, Giá xanh, Phân phối xanh, và Chiêu thị xanh.

Từ khóa: chiến lược marketing xanh, ý định mua, người tiêu dùng trẻ, Thành phố Hồ Chí Minh.

[Tạp chí Công Thương - Các kết quả nghiên cứu khoa học và ứng dụng công nghệ, Số 22 tháng 10 năm 2024]