INFLUENCES OF CUSTOMER SATISFACTION, PERCEIVED VALUE AND

BRAND PERSONALITY ON CUSTOMER'S PURCHASE INTENTION OF

LUXURY CARS

Kanruethai Thanasrichatthon

This Independent Study Manuscript Presented to

The Graduated School of Bangkok University
in Partial Fulfillment
of the Requirements for the degree
Master of Business Administration

Academic Year 2021

Copyright of Bangkok University
 This manuscript has been approved by

the Graduate School

Bangkok University

Title: Influences of Customer Satisfaction, Perceived Value and Brand Personality on

Customer's Purchase Intention of Luxury Cars

Author: Kanruethai Thanasrichatthon

Independent Study Committee:

Advisor Asst. Prof. Dr. Khomson Tunsakul

Field Specialist Dr. Chutimavadee Thongjeen

Thanasrichatthon, Kanruethai. Master of Business Administration, July, 2022,
Graduated School, Bangkok University.
Influences of Customer Satisfaction, Perceived Value and Brand Personality on
Customer's Purchase Intention of Luxury Cars (38 pp.)
Advisor: Asst.Prof. Khomson Tunsakul, Ph.D.

ABSTRACT

The study aims to investigate the influences of customer satisfaction,

perceived value, and brand personality on purchase intention of luxury cars. The
research tool is questionnaire distributed to the middle class (businessmen or
businesswomen) including the luxury car owners found in Sukhumvit, Thailand. The
samples of this study were 385. All the data were analyzed by using descriptive
statistics included frequency, mean and standard deviation and multiple regression
analysis was used to test the proposed hypotheses.
The results show that all the proposed hypotheses were supported by the
data set.

Keywords: Customer Satisfaction, Perceived Value s, Brand Personality, Luxury Cars

 iv

ACKNOWLEDGEMENT

I would like to express my special thanks of to my professor for the

continued support encouragements: Dr. Khomson Tunsakul who gave me the golden
opportunity to do this wonderful project on the topic “Influences of Customer
Satisfaction, Perceived Value and Brand Personality on Customer's Purchase Intention
of Luxury Cars”, which also helped me in doing a lot of Research and I learned so
many new things I are really thankful to them.
Secondly, I would like to also thank all professors in Bangkok University of
Master Business Administration program for the guidance.
I would also like to thank my family members, especially my parents for
helping me a lot in finalizing this project. My thanks and appreciations also go to my
colleague and people who have willingly helped me out with their abilities.
Finally, I wish this research will benefit for those who are interested in future
research.

Kanruethai Thanasrichatthon
 v

TABLE OF CONTENTS

Page
ABSTRACT……………………………………………………………………. iii
ACKNOWLEDGEMENT……………………………………………………… iv
LIST OF TABLES………………………………………………………...…… vii
LIST OF FIGURES…………………………………………………………….. viii
CHAPTER 1: INTRODUCTION ……………………………………………... 1
1.1 Rationale and Problem Statement………………………………..... 2
1.2 Scope of the Study.……………….……………………………….. 2
1.3 Research Objectives....……………………………………….….... 3
1.4 Significance of the Study……………………….…………….…... 3
1.5 Definition of Terms……………………..…………...……….…… 3
CHAPTER 2: LITERATURE REVIEW………………………………………. 5
2.1 Definition ………………………………...……………………….. 6
2.2 Hypothesis Statements and Conceptual Framework……………… 10
CHAPTER 3: METHODOLOGY……………………………………………… 12
3.1 Population and Sample Selection………………………………….. 12
3.2 Research Instrument/Questionnaire Design……………………….. 12
3.3 Data Collecting Procedure………………………………………... 13
3.4 Reliability Analysis.......................................................................... 13
3.5 Statistical Tools……………………………………………………. 16
CHAPTER 4: DATA ANALYSIS………………………………...................... 17
4.1 Demographic Profile of the Respondents (Independent Variables). 17
4.2 Means and Standard Deviations of All Variables (Dependent
Variables)…………………………………………………………. 20
4.3 The Result of Hypothesis Testing………………………………… 24
4.4 Results of Hypothesis Testing…………………………………….. 26
CHAPTER 5: DISCUSSION AND CONCLUSION…...................................... 27
5.1 Research Finding and Conclusion …..……..…………………….. 27
5.2 Discussion......................................................................................... 28
 vi

TABLE OF CONTENTS (Continued)

Page
CHAPTER 5: DISCUSSION AND CONCLUSION (Continued)
5.3 Research Implications…………..………………………..…….….. 30
5.4 Recommendation for Future Research…………………………….. 30
BIBLIOGRAPHY……………………………………….…………………...…. 31
APPENDIX………………………………………………………………...…… 34
BIODATA…………………………………………………………………….... 38
 vii

LIST OF TABLES

Page
Table 3.1: Pilot test Cronbach‟s Alpha by each Construct…………………... 12
Table 3.2: Summary of Measures and Item Reliability……………………… 14
Table 4.1: Demographic Profile of Respondents…………………………….. 17
Table 4.2: Behavior information of Respondents……………………………. 19
Table 4.3: Means and Standard Deviations of All Variables of Conceptual
Framework………………………………………………………... 20
Table 4.4: Mean, Standard Deviation of Respondents Perception of
Customer Satisfaction…………………………………………….. 21
Table 4.5: Mean, Standard Deviation of Respondents Perception of
Perceived Value…………………………………………………... 22
Table 4.6: Mean, Standard Deviation of Respondents Perception of Brand
Personality………………………………………………………… 22
Table 4.7: Customer Satisfaction, Perceived Value and Brand Personality
toward Purchase intention ……………………………………….. 23
Table 4.8: Customer Satisfaction, Perceived Value and Brand Personality
toward Purchase intention………………………………………… 24
 viii

LIST OF FIGURES

Page
Figure 1.1: Five Stage of Buying Decision Process…………………………. 5
Figure 2.1: Brand Personality Scale and the Psychological Five Factors
Model…………………………………………………………… 9
Figure 2.2: Conceptual Framework…………………………………………. 11
Figure 4.1: Result of Multiple Regression Analysis from scope of Research.. 26
 CHAPTER 1
INTRODUCTION

An interesting aspect of consumer‟s purchase intention has always been to

investigate the factors that drive people to spend a lot of money on luxury cars, and
the topic is well researched. The car manufacturers in the modern global economic
system need to develop products that meet their customer expectations. In the
premium segment of the automotive industry, such a challenge takes on a new scale
(Robinson, 2000 as cited in Stylidis, Wickman, & Söderberg, 2015). The market
segment for „premium‟ automobiles has historically excelled in manufacturing
quality, resulting in product differentiation largely derived from the customer's
assessment of perceived quality (Schmitt, Quattelbaum, & Falk, 2010).
Manufacturing quality in the premium automobile segment is not the primary
determinant of customer satisfaction, but rather it is only an entry requirement for this
segment (Robinson, 2000 as cited in Stylidis et al., 2015). The greatest advantage can
be reached by understanding the customer‟s perception of quality.
Additionally, customers also expect the design of the automotive model.
Successful automobile design in competitive markets is characterized by a
combination of both technical manufacturing quality and customer perceived quality
(Petiot, Salvo, Hossoy, Papalambros, & Gonzalez, 2009). The preliminary qualitative
evidence and interviews of design engineers at leading luxury automotive
manufacturers that i ‟customers of luxury vehicle manufacturers now expect the same
level of perceived quality amongst design attributes as in the premium segment, ii‟
luxury vehicle manufacturers now benchmark their products to the premium segment
and are interested in additional methods of evaluation and benchmarking, and iii‟
luxury vehicle manufacturers gather customer feedback through the lifetime of
vehicle ownership in contrast to the premium segment of the automotive industry
(Petiot et al., 2009).
Just a few short years ago, there were often real differences between luxury
and mass-market cars. Luxury was often defined by more powerful engines, quieter
interiors, better handling, advanced safety and electronic technology, and an
abundance of leather and wood. But today, what was once only found in luxury
 2

vehicles, particularly safety and electronic gadgetry has migrated towards lower-
priced vehicles. Airbags everywhere, rearview cameras, and blind-spot detection are
just a few of these features. Turbocharging, now known to consumers; Ford‟s
promotion of its Eco-Boost engines, is now more widely used in both cars and trucks
from some manufacturers. And navigation systems, Bluetooth integration, and touch
screen controls are now mainstream, not just luxury features. Leather seats are now
found in many mass-market vehicles (especially higher trim levels) while entry-level
luxury cars only come with synthetic seat material standard, leather is extra. Many
mass-market vehicles have moved decidedly upscale. Chevrolet‟s 2014 Impala, in its
higher trims, has many of the same features as found in luxury vehicles costing
thousands more (Brunello, 2014).

1.1 Rationale and Problem Statement

In recent years, the car industry has changed considerably. Product diversity
has increased and the automobile buying decision process has become extremely
complex. Most people consider that purchasing a new car represents a fundamental
investment and the final decision is taken only after buy a thorough analysis of
alternatives. And, nowadays the customer has many factors to purchase luxury cars,
and those factors are well provided on the internet which is the most convenient way
for people to see more products on any device. That is one of the most effective tools
to attract people‟s attention.
However, that convenience also creates competition between brands,
suppliers, and distributors in this potential market. As a result, the consumer starts to
compare products and prices until they get the best deal before making decision.
In response to this problem, the study proposes is to figure out the
relationship between the brand satisfaction, perceive value, and brand personality with
the customer who decides to buy a luxury car.

1.2 Scope of the Study

This study emphasizes factors influencing the customer‟s purchase intention
of luxury cars consisting of their satisfaction, perceived value and brand personality.
 3

In addition, the target respondents of this research are consumers who purchase
luxury cars in Bangkok.

1.3 Research Objectives

The main objective of this study is to investigate:
1.3.1 Whether customer satisfaction influences the purchase intention of
luxury cars.
1.3.2 Whether perceived value influences the purchase intention of luxury
cars.
1.3.3 Whether brand personality influences the purchase intention of luxury
cars.

1.4 Significance of the Study

This research should benefit the producers and manufacturers of luxury cars to
gain more understanding about potential consumers of luxury cars to conduct
effective strategies to serve the needs of potential consumers to earn their satisfaction.
In addition, the research result will add to academic knowledge in terms of consumer
behavior and brand management (Jones & Suh, 2000).

1.5 Definition of Terms

Customer satisfaction
Customer satisfaction is not only cognitive but also emotional. While the
literature contains significant differences in the definition of satisfaction, there are at
least two common formulations of satisfaction: “transaction-specific” and “overall
satisfaction” (Jones & Suh, 2000).
Transaction-specific satisfaction is an immediate post-purchase evaluative
judgment and, as such, is an affective reaction to the most recent experience with a
firm (Oliver, 1993).
The transactional-specific approach suggests that satisfaction occurs at the
post-consumption stage following a single encounter with the service provider e.g.,
satisfaction with a specific employee (Jones & Suh, 2000).
 4

Perceived Value
Perceive value generally refers to the difference between benefits and
sacrifices from purchasing and using a product/service put forward perceive value
when the price is low, while some perceive when there is a positive balance between
price and quality. Customers cannot precisely perceive all the benefits offered by the
product/service, and the financial investment that is needed, so in this case perception
of value relies on the customer's evaluation of the product/service. Therefore,
perceived value can be viewed as a relationship between perceived benefits and
perceived sacrifice of product/service. (Gutman, 1982).
Brand Personality
Brand Personality is the noticeable elements of brand including colors, logo,
name, design, or symbol that together identify and differentiate the brand in the
consumers‟ mind (Tarver, 2020). Brand personality is also a promise that an
organization makes to consumers, and it is all that an organization wants the brand to
be considered as. Brand personality leads to brand loyalty, brand preference, high
credibility, good prices, and good financial returns because it helps an organization to
express to the consumer and the target market. Brand personality establishes a
connection between the organization and consumers (Batra, 1993).
Purchase Intention
The fourth stage of buying making-decision process is purchase intention. In
this stage, after consumer evaluated the option they will buy the most suitable
product. Consumer changes their money to solve his or her problem. There are two
factors that might influence the people in tension and decision. First is attitude of
others and second are unexpected situational factors (“5 stage of buying decision
process”, n.d.). The five stages framework use to evaluate the consumer‟s buying
decision as the diagram below:
 5

Figure 1.1: Five Stage of Buying Decision Process

Need Recognition & Problem Awareness

Information Search

Evaluation of Alternatives

Purchase

Post-Purchase Evaluation

Source: Reliey, J. (2016). Marketing & buyer behavior – the decision-marketing

process. Retrieved from http://www.tutor2u.net/business/reference/
marketing- buyer behavioure-the-decision-making-process.
 CHAPTER 2
LITERATURE REVIEW

2.1 Definition
2.1.1 Independent Variables
1) Customer satisfaction
Customer Satisfaction is the customers‟ cumulative impression of a firm‟s
service performance (Johnson & Fornell, 1991). Customer satisfaction is the
customer‟s post-purchase evaluation and affective response or feeling to the overall.
Customer satisfaction can be defined using the transaction-specific
perspective or cumulative perspective. The transaction-specific perspective indicates
that customer satisfaction is the evaluation based on the recent purchase experiences
(Boulding, Kalra, Staelin, & Zeithaml, 1993). Compared with the transaction-specific
perspective, the cumulative perspective stresses overall evaluations, indicating that
evaluations of customer satisfaction should be based on all the purchase experiences
of the customer, disregarding any specific purchase experience (Johnson & Fornell,
1991). The cumulative perspective is more capable of evaluating the service
performance of firms and more effective in predicting consumers‟ post-purchase
behaviors (Wang, Lo, & Yang, 2004).
Various studies attributing the strong relationship between Customer
satisfaction and purchase intention had been conducted by researchers involving
various aspects. For example, the research of Maharsi, Njotoprajitno, Hadianto, and
Wiraatmaja (2021) examine the effect of customer satisfaction on consumer purchase
intention by involving 106 respondents who are the lecturers working at Maranatha
Christian University, Bandung. The research found that there was a connection
between customer satisfaction and purchase intention. They examined the influence of
two independent variables; service quality and customer service on consumer
behavior in deciding to purchase petrol. To attain the goal, they develop four relevant
hypotheses to be tested. After examining the data and conferring the results, we
conclude three things. First, service quality does not affect purchasing intention, but
customer satisfaction positively does. Second, service quality has a positive impact on
customer satisfaction. Finally, consumer satisfaction successfully mediates the effect
 7

of service quality on the intention to buy. So, this study concludes there is a positive
influence between customer satisfaction and purchase intention.
2) Perceived value
Personality is a clear construct different from cognitive aspects of the
person, or from his or her skills and abilities. It is described by traits.
Customer‟s perceived value can be defined from the perspectives of
money, quality, benefit, and social psychology. The Monetary perspective indicates
that value is generated when less is paid (such as by using coupons or promotions) for
goods (Bishop, 1984). In other words, it is the concept of consumer surplus in
economics; perceived value is the difference between the highest price that consumers
are willing to pay for a product or service and the amount practically paid. According
to the quality perspective, value is the difference between the money paid for a certain
product and the quality of the product (Bishop, 1984). That is, when less money is
paid for a high-quality product, positive perceived value will be created. The benefit
perspective indicates that perceived value is customers‟ overall evaluation of the
utility of perceived benefits and perceived sacrifices (Zeithaml, 1988). In other words,
consumers may cognitively integrate their perceptions of what they get and what they
have to give up in order obtaining goods. However, sacrifice means more than the
money paid for certain goods. Non-monetary costs, such as transaction cost, search
cost, negotiation cost, and time incurred during the purchase, should also be included
(Cronin, Brady, & Hult, 2000). The social psychology perspective points out that the
generation of value lies in the meaning of purchasing certain goods to the buyer‟s
community (Sheth, Newman, & Gross, 1991). That is, goods carrying particular
meanings (such as social-economic status and social culture) can increase the
effectiveness of social self-concept.
Previous researches attributing the strong relationship between brand
personality and purchase intention. For example, the research of Lee, Hansen, and Lee
(2018) examined the effect of brand personality self-congruity on brand engagement
and purchase intention: the moderating role of self-esteem n Facebook by involving
301 Facebook users who clicked like for a brand in Atlanta, Georgia. The result found
that brand personality showed a significant, positive influence on brand engagement
 8

and purchase intention. Brand personality showed a conditional indirect effect on

purchase intention via brand engagement depending on the level of self-esteem.
3) Brand Personality
The definition of brand personality is needed to avoid the present state of
conceptual confusion in branding research, and to allow brand personality to be a rich
and more useful concept with which to understand and manage brands. One should
recall that „personality‟ and other concepts used in marketing (such as „self‟ or values)
derive from psychology, and should, therefore, be defined and strictly described in
relation to their definition in psychology, although some adaptations seem necessary.
To better understand what brand personality is, the roots and history of
brand personality are first briefly reviewed. The existing definition and measurements
of brand personality and of personality in psychology are then examined for
comparison purposes. Finally, it is demonstrated that the existing definition and
measurement methodology have led to the construction of scales that do not really
measure brand personality, but other unrelated concepts (Caprara, Barbaranelli, &
Guido, 2001).
The brand identity frameworks always quoted brand personality as a
dimension or a facet of brand identity namely those traits of human personality that
can be attributed to the brand. Among other dimensions are the brand inner values (its
cultural facet), the brand relationship facet (its style of behavior, of conduct), the
brand-reflected consumer facet, and the brand physical facet (its material
distinguishing traits).
At odds with this general conceptualization of personality as one part of
brand identity namely referring to the traits of human personality attributed to the
brand in the process of building a scale for measurement purposes, defines brand
personality not as a part but as the whole: „the set of human characteristics associated
to a brand‟. However, inner values, physical traits and pictures of the typical user are
also „human characteristics‟ that can be associated with a brand. Hence the risk (if one
follows this too-global definition) of muddling conceptually and empirically distinct
brand identity facets within a single scale of so-called „brand personality‟.
 9

Figure 2.1: Brand Personality Scale and the Psychological Five Factors Model

Brand Personality

Sincerity Excitement Competence Sophisticatio Ruggednes

n s

Down-to-earth Reliable Outdoorsy

Honest Intelligent Tough
Wholesome Successful
Cheerful
Upper class
Daring
Charming
Spirited
Imaginative
Up-to-date

Source: Aaker, J. L. (1997). Dimensions of brand personality. Journal of Marketing

Research, 34(3), 347–356.

Previous researchers conducted the research on the effect of perceived value

on consumer trust and purchase intention in Brazil. A survey with 274 Brazilian
consumers of organic food was carried out. The research found that there was a
connection between perceived value and purchase intention. Eluiza and Solange
(2019) found the same thing that the perceived value is able to influence the purchase
intention positively. They examine the influence of an independent variables;
perceived value on consumer trust and consumer purchase intention. Perceived value
was measured through four dimensions: functional, economic, social and emotional.
Findings – The results indicate that functional and emotional values positively affect
consumer trust and that only emotional value motivates purchase intention. Thus, the
 10

perceived value is an important aspect in the prediction of trust and purchase intention
among Brazilian consumers
2.1.2 Dependent Variable
1) Purchasing Intention
The purchase intention is the thought process that leads a consumer from
identifying a need, generating options, and choosing a specific product and brand.
Some purchase intentions are minor, like buying toothpaste, while other purchases are
major, like buying a house. The more major the purchase intention, the more effort is
typically put into the process (Petiot et al., 2009).
Purchase intention is also positively associated with a perceived value
(Dodds, Monroe, & Grewal, 1991; Grewal, Monroe, & Krishnan, 1998)

2.2 Hypothesis Statements and Conceptual Framework

2.2.1 Hypothesis Statements
H1: There is a significant influence on customer satisfaction with the
purchase intention of a luxury car.
H2: There is a significant influence of perceived value on the purchase
intention of a luxury car.
H3: There is a significant influence of brand personality on the purchase
intention of a luxury car.
2.2.2 Conceptual framework
The conceptual framework represents the conceptual model of this study,
depicting relationships among all the hypotheses. It determines how the designs are
related to each other in this research study and give a bird-eye view of the framework
that is based on the conceptual model.
 11

Figure 2.2: Conceptual Framework

 CHAPTER 3
METHODOLOGY

3.1 Population and Sample Selection

The target of this study is the middle class (businessmen or businesswomen)
which constitutes all the luxury car owners found in Sukhumvit, Thailand. This is an
equal opportunity for all representatives of the population. Next is measuring the
sample by using a formula to define the sample size of Cochran (1977).

𝑛 = 𝑝𝑞𝑍2 → 𝑛0 = 𝑝𝑞𝑍2 → 1.962(0.2) (0.8) = 385

𝑒2 𝑒2 (0.052)

So, the researcher aims to collect 385 samples of target attendant.

3.2 Research Instrument/Questionnaire Design

Questionnaire is useful method to investigate in this research. The
information is collected in a standardized way. And the quality of the data must be as
high as possible. Consequently, the accuracy of the research can be executed.
The questionnaire design is created in English as it is the international
language and suitable for the target who were living in Sukhumvit. There are 2 major
sections in the questionnaire.
Section A Four questions about demographic profile of the
respondents: gender, age range, education level, income level, etc.
Section B The measurements of all variables in five multiples choices.
Section C Thirteen questions using the five-points Likert‟s scale
relating to independent and dependent variables such as customer satisfaction
(independent variable) and purchase intention (dependent variable)
There are 4 constructs in this section: consumer purchasing intention,
customer satisfaction, perceived value, brand personality
The respondents were asked to indicated their response to all questions on a
scale of 1 to 5 consisting of 1 = strongly disagree, 2 = disagree, 3 = neutral, 4= agree
and 5 = strongly agree.
 13

3.3 Data Collecting Procedure

The researchers will distribute the questionnaires directly to respondents.
The researcher will ask each potential respondent whether he or she owns a luxury
car. If the answer is yes and the person is willing to cooperate, then the researcher will
ask him or her to do the questionnaire. The respondent will receive guidance on how
to complete the questionnaire.

3.4 Reliability Analysis

The reliability of the data is checked through Cronbach‟s Alpha. Cronbach's
alpha coefficient measure‟s reliability, or internal consistency. “Reliability” is how
well a test measure what it should. The acceptable value of alpha in reliability
analysis is 0.8 in the case of intelligence tests, and the acceptable value of alpha in
reliability analysis is 0.7 in the case of ability tests. (Nunnally & Bernstein, 1994)
Table 3.1 shows the measures of all variables, including the number of items
and Cronbach‟s alpha. The Cronbach‟s Alphas for all items for 40 samples ranged
from 0.77-0.8, which are acceptable as being reliable.

Table 3.1: Pilot test Cronbach‟s Alpha by each Construct

Cronbach‟s
Measures Items
alpha

Consumer purchasing intention

1. I search for information about the luxury car brand on
regular basis.
4 0.77
2. Buying the car is beneficial for daily life.
3. I will consider the product feature of the car before I
purchase it.
(Continued)
 14

Table 3.1 (Continued): Pilot test Cronbach‟s alpha by each construct

Cronbach‟s
Measures Items
alpha

4. I have a plan to purchase a luxury car in the near future. 4 0.77

Customer satisfaction
1. I am satisfied with the services provided by the luxury car
brand.
2. I think this luxury car brand has successfully provided 3 0.79
value-added services.
3. This value-added service from the luxury brand is better
than expected.

Perceive Value
1. I feel I am getting good car services for a reasonable price.
2. Using the luxury car is worth for me to sacrifice some time
3 0.77
and efforts.
3. Compared with other luxury car brand, it is wise to choose
this brand.

Brand Personality
1. The luxury car helps me to express myself.
2. The luxury car has few features in common with other
3 0.8
brands.
3. The luxury car brand which I'm using is completely
different from other brands.

After the pilot test of 40 respondents was done. A full-scale survey of 385
questionnaires was completely answered, and the result of the reliability analysis
calculated is presented by the Cronbach's Alpha Coefficient table below.
 15

Table 3.2: Summary of Measures and Item Reliability

Cronbach‟s
Measures Items
alpha

Consumer purchase intention

1. I search for information about the luxury car brand on
regular basis.
2. Buying the car is beneficial for daily life. 4 0.78
3. I will consider the product feature of the car before I
purchase it.
4. I have a plan to purchase a luxury car in the near future.

Customer satisfaction
1. I am satisfied with the services provided by the luxury
car brand.
2. I think this luxury car brand has successfully provided 3 0.80
value-added services.
3. This value-added service from the luxury brand is better
than expected.

Perceive Value
1. I feel I am getting good car services for a reasonable
price.
2. Using the luxury car is worth for me to sacrifice some 3 0.81
time and efforts.
3. Compared with other luxury car brand, it is wise to
choose this brand.

Brand Personality
1. The Luxury car helps me to express myself.
2. The Luxury Car has few features in common with other
3 0.84
brands.
3. The Luxury Car brand which I'm using is completely
different from other brands.
 16

All alpha coefficients of full-scale survey passed the 0.7 and had proven to be
reliable.

3.5 Statistical Tools

For testing the reliability of the collected data that is measured by Cronbach‟s
alpha. In addition, this study uses descriptive statistics included frequency, mean and
standard deviation and Multiple Regression analysis to determine test the proposed
hypotheses.
3.5.1 Multiple Regression Analysis
Multiple Regression is used to find out the value of a variable based on the
value of two or more other variables. The variable we want to predict is called the
dependent variable. The variables we are used to predict the value of the dependent
variable are called the independent variables (Hair, Black, Babin, & Anderson, 2010).
Multiple regression estimates the β‟s in the equation

3.5.2 Variance Inflation Factor (VIF)

The Variance Inflation Factor (VIF) is a measure of the amount of
multicollinearity in a set of multiple regression variables. Mathematically, the VIF for
a regression model variable is equal to the ratio of the overall model variance to the
variance of a model that includes only that single independent variable. This ratio is
calculated for each independent variable. (Potters, 2021) A high VIF indicates that the
associated independent variable is highly collinear with the other variables in the
model
The VIF of the k-th variable is identified by the following formula:
VIFk= 1/(1-rk2)
Where rk2 is the goodness of fit of the linear model for xk based on all other
variables.
 CHAPTER 4
DATA ANALYSIS

This chapter presents the completed result and analysis of this study. The
results of 385 questionnaires were received from survey consisting demographic
profile of the respondents.

4.1 Demographic Profile of the Respondents (Independent Variables)

The demographic profiles will be presented in numbers and percentage of
gender, ages, educational level and monthly income.
One more part is behavior information of luxury car users will be presented
in frequencies and percentages in 3 parts of the brand of the current car, the influence
to purchase of the current car, and the reason for buy present car.
4.1.1 Demographic profile of the Respondents

Table 4.1: Demographic Profile of Respondents

Descriptive Statistics
Demographic profile of the Respondents
Frequency Percent

Female 260 67.53

Gender
Male 125 32.47

25-30 years old 160 41.56

31-35 years old 65 16.88

Age 36-40 years old 91 23.64
41-45 years old 50 12.99
older than 45 years old 19 4.94
(Continued)
 18

Table 4.1 (Continued): Demographic Profile of Respondents

Descriptive Statistics
Demographic profile of the Respondents
Frequency Percent

Below bachelor‟s degree 11 2.86

Bachelor‟s degree 244 63.38

Education
Master‟s degree 124 32.21
Ph.D. 6 1.56

Lower than 30,000 102 26.49

30,000-50,000 89 23.12
Income level
50,000-100,000 145 37.66
More than 100,000 49 12.73

Gender: The general information characteristics of respondents show that

67.53% of the respondents are female, and the percentage of male respondents is
32.47%. As result, the main respondents are female in this research.
Ages: The main of these respondents‟ Age levels are 25-30 years old at a
percentage of 41.56% followed by 23.64% for 36-40 years old and the lowest for
older than 45 years old with 4.94%.
Graduation: The results show the largest group of graduation levels is 63.38
% of the respondents for the bachelor‟s degree. The smallest group is the Ph.D. with
1.56%.
Income Level: As a result, the biggest group for the income level of
respondents is between 50,000 100,000 THB per month with a percentage of 37.66.
The second group is lower than 30,000 THB per month with a percentage of 26.49.
And the latest group with the lowest number of respondents is more than 100,000
THB per month with a percentage of 12.73.
 19

4.1.2 Behavior information

Table 4.2: Behavior information of Respondents

Descriptive Statistics
Behavior information
Frequency Percent

Audi 37 9.61

Luxury Car BMW 178 46.23

Brand Mercedes Benz 165 42.86
Range Rover 5 1.3

Influence to Brand Personality 154 40

Purchase of Customer Satisfaction Survey 73 18.96

Current Car Perceived Value 158 41.04

better safety at roads 135 35.06

family needs 57 14.81

The Reason for
increase in disable income 39 10.13
Buy Present Car
suites your lifestyle and 154 40
personality

Behavior information of Luxury car users is presented in frequencies and

percentages in 3 parts of the Brand of the current car, the influence to purchase of the
current car, and the reason for buy present car.
Brand of Current Car: As the table above, 46.23 % which uses BMW, is the
highest respondents and the second highest is Mercedes Benz with 42.86%. The Third
highest group is 9.61% for Audi. And the lowest group is Range Rover with 1.30%.
Influence to purchase of current car: The majority for what influences the
respondents to purchase of current car is perceived value with 41.04%, followed by
40% for brand personality and the last reason that influences respondents to purchase
for current car is customer satisfaction survey with only 18.96%.
 20

The reason to buy present car: As the result, the main reason for buying their
present car is suit that it their lifestyle and personality at the number of 40%.
Followed reason is better safety at roads at the number of 35.06% and the last two
reason for buying present car are Family needs at the number of 14.81% and
increasing in disable income at the number of 10.13%.

4.2 Means and Standard Deviations of all Variables (Dependent Variables)

Consumer‟s purchasing intention of luxury car users will be presented in
mean and standard deviation in 3 parts of independent variables: customer
satisfaction, perceived value and brand personality and 1 part of dependent variables:
purchase intention.

Table 4.3: Means and Standard Deviations of all Variables of Conceptual Framework

Purchasing Intention (Dependent variables) Mean S.D. Interpretation

1. I search for information about the luxury car
3.76 0.81 Neutral
brand on regular basis.
2. Buying the car is beneficial for daily life. 3.72 0.77 Neutral
3. I will consider the product feature of the car
3.86 0.82 Neutral
before I purchase it.
4. I have a plan to purchase a luxury car in the
3.45 0.82 Neutral
near future.
Total 3.70 0.81 Neutral

The results of purchasing intention indicate that “I will consider the product
feature of the car before I purchase it” has the highest mean (mean = 3.86). Followed
by “I search for information about the luxury car brand on regular basis” (mean =
3.76). The lowest mean (3.45) is “I have a plan to purchase a luxury car in the near
future”
The standard deviation results are shown that “I have a plan to purchase a
luxury car in the near future” and “I will consider the product feature of the car before
 21

I purchase it” the most deviation (S.D. = 0.82). The least deviation is “Buying the car
is beneficial for daily life” (S.D. = 0.77)
4.2.1 Independent variables:
1) Customer Satisfaction

Table 4.4: Mean, Standard Deviation of Respondents Perception of Customer

Satisfaction

Customer Satisfaction Mean S.D. Interpretation

1. I am satisfied with the services provided by
3.84 0.73 Neutral
the luxury car brand
2. I think this luxury car brand has
3.81 1.02 Neutral
successfully provided value-added services
3. This value-added service from the luxury
3.68 0.97 Neutral
brand is better than expected
Total 3.78 0.91 Neutral

As the result of customer satisfaction, the highest mean is “I am satisfied

with the services provided by the luxury car brand” (mean = 3.84). Followed by “I
think this luxury car brand has successfully provided value-added services” (mean =
3.81). And the lowest mean is “this value-added service from the luxury brand is
better than expected” (mean = 3.68).
The standard deviation results are shown that “I think this luxury car
brand has successfully provided value-added services” the most deviation of
information among 3 elements (S.D. = 1.02). While the least deviation of information
among 3 elements is “I am satisfied with the services provided by the luxury car
brand” (S.D. = 0.73).
 22

2) Perceived Value

Table 4.5: Mean, Standard Deviation of Respondents Perception of Perceived Value

Perceived Value Mean S.D. Interpretation

1. I feel I am getting good car services for a
3.69 0.77 Neutral
reasonable price
2. Using the luxury car is worth for me to
3.62 0.76 Neutral
sacrifice some time and efforts
3. Compared with other luxury car brand, it is
3.65 0.95 Neutral
wise to choose this brand
Total 3.65 0.83 Neutral

The results of perceived value indicate that “I feel I am getting good car
services for a reasonable price” has the highest mean (mean = 3.69). Followed by
“compared with other luxury car brand, it is wise to choose this brand” (mean = 3.65).
The lowest mean (3.62) is “using the luxury car is worth for me to sacrifice some time
and efforts”.
The standard deviation results are shown that “Compared with other
luxury car brand, it is wise to choose this brand” the most deviation (S.D. = 0.95). The
least deviation is “using the luxury car is worth for me to sacrifice some time and
efforts” (S.D. = 0.76)
3) Brand Personality

Table 4.6: Mean, Standard Deviation of Respondents Perception of Brand Personality

Brand Personality Mean S.D. Interpretation

1. The Luxury car helps me to express myself. 3.61 0.96 Neutral
2. The Luxury Car has few features in common
3.71 0.83 Neutral
with other brands.
(Continued)
 23

Table 4.6 (Continued): Mean, Standard Deviation of Respondents Perception of

Brand Personality

Brand Personality Mean S.D. Interpretation

3. The Luxury Car brand which I'm using, is
3.65 0.95 Neutral
completely different from other brands
Total 3.66 0.91 Neutral

As the result of brand personality, the highest mean is “The luxury car has
few features in common with other brands” (mean = 3.71). Followed by “The luxury
car brand which I‟m using, is completely different from other brands” (mean = 3.65).
And the lowest mean is “The luxury car helps me to express myself” (mean = 3.61).
The standard deviation results are shown that “The Luxury car helps me
to express myself” the most deviation of information among 3 elements (S.D. = 0.96)
While the least deviation of information among 3 elements is “3. The Luxury Car
brand which I‟m using, is completely different from other brands” (S.D. = 0.83).

Table 4.7: Mean, Standard Deviation of Respondents‟ perception of independent

variables and the dependent variable

Research constructs Mean S.D. n

Customer Satisfaction 3.78 0.91 385

Perceived Value 3.65 0.83 385

Brand Personality 3.66 0.91 385

Dependent variable

Purchasing Intention 3.70 0.81 385

The conclusion of 4 constructs show that the highest mean is customer

satisfaction at number 3.78. The second is purchasing intention at number 3.70.
 24

Follow by mean of brand personality at number 3.66. The last is perceived value at
number 3.65.
As the Standard deviation, the highest of 4 constructs is purchasing intention
and customer satisfaction with the same number at 0.91. The second highest is
perceived value at number 0.83. The lowest standard deviation is Purchase intention
which is 0.81.

4.3 The Result of Hypothesis Testing

The analysis of significant effect from the 4 constructs between independent
variables and the dependent variable: Features, Brand image, Subjective norms and
Purchase intention, are studied by multiple linear regression as shown below.

Table 4.8: Customer Satisfaction, Perceived Value and Brand Personality toward
Purchase intention

Collinearity
Std.
Independent Variable B Beta t Sig. Statistics
Error
Tolerance VIF
(Constant) 1.360 .128 10.588 .000
Customer Satisfaction .367 .044 .451 8.422 .000 .472 2.118
Perceived Value .134 .055 .152 2.420 .016 .345 2.901
Brand Personality .127 .047 .162 2.693 .007 .374 2.677
Dependent variable: consumer purchasing intention
R = .696, R2 = .484, Adjusted R2 = .480, df: 3, F = 119.071, P= 0.05
*Significant at 0.05 level

From Multiple R, it was found that Independent variables (customer

satisfaction, perceived value and brand personality) have linear with consumer
purchasing intention = .696. When used Multiple R to be coefficient of determination,
R2 = .484 or consumer purchasing intention can be described by Independent variable
(Customer Satisfaction, Perceived Value and Brand Personality) 48.40% and 51.6% is
influenced by other factors. However, it can be seen that with degree of freedom and
 25

amount of predict variable of Adjusted R2 = .480 or consumer purchase intention can

be described by independent variables (Customer Satisfaction, Perceived Value and
Brand Personality). The adjusted amount of predict variable and degree of freedom,
Shows 48% of the prediction power of the independent variables.
Results show that the most important predictor variable is Customer
Satisfaction (β=0.367, p<0.05) which is positively related to consumer purchase
intention. Then the predictor variable is Perceived Value (β=0.134, p<0.05) which is
positively related to consumer purchase intention and the last predictor variable is
Brand Personality (β=0.127, p<0.05) which is positively related to consumer
purchasing intention. The three independent variables meet the requirement of multi-
collinearity and are statistically significant. The consumer purchasing intentions (y)
are Customer Satisfaction, Perceived Value and Brand Personality.
The prediction equation can be written as y = 1.360 + .367 (customer
Satisfaction) + .134 (perceived Value) + .127 (brand personality) from coefficients,
significant was shown that between customer satisfaction, perceived value, brand
personality and consumer purchase intention (sig. < 0.05) and beta more than 0. It
means customer satisfaction, perceived value, brand personality have influences on
consumer purchase intention, became their p-values are all less than .05. Therefore,
null hypotheses can be rejected.
Hypothesis can be explained as
Hypothesis 1: There is a significant influence of customer satisfaction
on purchase intention of luxury car with coefficient result of customer satisfaction β
0.367 at 0.000 significant level. Therefore, hypothesis is supported by the data set.
Hypothesis 2: There is a significant influence of perceived value on
purchase intention of luxury car with coefficient result of perceived value β 0.134 at
0.016 significant level. Therefore, hypothesis is supported by the data set.
Hypothesis 3: There is a significant influence of brand personality on
purchase intention of luxury car with coefficient result of brand personality β 0.127 at
0.007 significant level. Therefore, hypothesis is supported by the data set.
 26

4.4 Results of Hypothesis Testing

Result of Multiple Regression Analysis found that customer satisfaction,
perceived value, and brand personality had a positive impact on Purchase intention at
statistically significant level 0f 0.05.

Figure 4.1: Result of Multiple Regression Analysis from scope of Research

H1: β = 0.367, p<0.05

Customer Satisfaction

H2: β = 0.134, p<0.05

Perceived Value
Purchase Intention
H3: β = 0.127, p<0.05

Brand Personality
 CHAPTER 5
DISCUSSION AND CONCLUSION

In this Chapter presents the summary of overall important component of this

research, discussion, and recommendations.
The main purpose of this study is to examine the influence of customer
satisfaction, perceived value and brand personality on consumer purchase of luxury
car in Sukhumvit area. Questionnaire is used as a tool to collect the data of 385
respondents.

5.1 Research Finding and Conclusion

The main objective of this study is to examine the influence of customer
satisfaction, perceived value and brand personality on consumer purchase of luxury
car in Sukhumvit area.
Questionnaire was used to obtain the data from 385 respondents who were
luxury car users among Sukhumvit area. In order to test that independent variable and
dependent variable are related, three hypotheses are presented: customer satisfaction,
perceived valued and brand personality, and purchase intention.
The majority of respondents are people who use luxury car living around
Sukhumvit area are female at the age of 25-30 years old. Most graduated bachelor‟s
degree, earn 50,000–100,000 THB per month. Most of them are using BMW car and
the main reason that influence them to purchase of their current car is perceived value.
The main reason of buying present car is suiting their lifestyle and personality.
Hypothesis 1: there is a significant influence on customer satisfaction with
the purchase intention of a luxury car. As a result, it shows that customer satisfaction
and purchase intention are related at 0.00 significant levels. Found there is no
sufficient evidence to reject for hypothesis. Luxury car with customer satisfaction has
a positive effect on purchase intention. So, customer service will lead to higher
purchase intention. In recent times, customer satisfaction has gained new attention on
purchase intention. The results were also supported by (Gronroos, 1994).
Hypothesis 2: There is a significant influence of perceived value on the
purchase intention of a luxury car. As the analysis, perceived value is positively
 28

related to consumer purchasing intention at 0.016 significant level. It founds the

hypothesis is accepted. A product with a perceived value can make consumers have a
high-level satisfaction and confidence to purchase it. The higher perceived value can
lead to the higher purchase intention. Thus, if consumers can receive trustworthy
perceived value in the process of product. It will create a good brand image, loyalty,
profit, and high purchase intention to a business (Treacy & Wiersema, 1993)
Hypothesis 3: There is a significant influence of brand personality on the
purchase intention of a luxury car. As the analysis, brand personality is positively
related to consumer purchasing intention at 0.007 significant level. Found there is
sufficient evidence to accept for hypothesis.
The results of this study show that the higher brand personality can lead to
the higher purchase intention. Brand personality influences the trust. The more the
consumer perceives the brand as being sincere and competent. The consumer
purchase intention will be increased (Hanzaee & Ramezani, 2011).
Consequently, the three independent variables: customer satisfaction
(β 0.451), perceived value (β 0.152) and brand personality (β 0.162) could predict
purchase intention. In part of variables, it can describe the positive influence on
purchase intention of luxury car users in sukhumvit at 48%.

5.2 Discussion
The research was to explore factors that influence consumer purchasing
intention of luxury car among luxury car owner in Sukhumvit. This study examined
the relationship between customer satisfaction, perceived value, brand personality and
purchase intention by involving 385 respondents who are the owners of the luxury car
in Sukhumvit. Three hypotheses were presented to test the relationship between the
independent variables; customer satisfaction, perceived value, brand personality and
purchase intention of luxury car. The results found interesting hypothesis as follow
Hypothesis 1, there is a significant influence of customer satisfaction on
purchase intention of luxury car. Luxury car with customer satisfaction has a positive
effect on purchase intention. It is important to note that customer satisfaction is one of
the significant factors that impact to purchase intention.
 29

Same as The result of the previous research showed the strong relationship
between customer satisfaction and purchase intention in deciding to purchase petrol,
the research of Maharsi et al. (2021). They have analyzed that customer service
quality affect purchase intention positively. Moreover, service quality has a positive
impact on customer satisfaction. Consumer satisfaction successfully mediates the
effect of service quality on the intention to buy. So, this study concludes there is a
positive influence between customer satisfaction and purchase intention.
According to, hypothesis 2, there is a significant influence of perceived value
on purchase intention of luxury car. Thus, perceived value positively enhanced
consumers purchase intention. It is important to note that perceived value is one of the
significant factors that impact to purchase intention.
Regarding to studies by Eluiza and Solange (2019) found the same thing that
the perceived value is able to influence the purchase intention positively. Perceived
value was measured through four dimensions: functional, economic, social and
emotional. The results indicate that functional and emotional values positively affect
consumer trust and that only emotional value motivates purchase intention. Thus, the
perceived value is an important aspect in the prediction of purchase intention.
According to, hypothesis 3, there is a significant influence of brand
personality on purchase intention of luxury car. That is the higher the brand
personality will lead to higher purchase intention. It is essential to conclude that brand
personality is significant impact to purchase intention.
Previous researches also showed the strong relationship between brand
personality and purchase intention. For example, the research of Lee et al. (2018).
Because the result found that brand personality showed a significant, positive
influence on brand engagement and purchase intention. Brand personality showed a
conditional indirect effect on purchase intention via brand engagement depending on
the level of self-esteem. Thus, this study can explain that there is a positive influence
between brand personality and purchase intention.
 30

5.3 Research Implications

At the present, social factor is the important factors of Thai people. People‟s
lifestyle change. People use luxury car for creating high social status. In terms of this,
the luxury car industry can use the results of this study to understand the factors that
impact consumers‟ purchase intention in Sukhumvit area to influence customers‟
purchase intention; it concerns customer satisfaction, perceived value and brand
personality. The researcher proposes the recommendations as follow: First, customer
satisfaction is based on the confirmation of expectations associated with the service or
product experience. As a luxury brand, customers expected high service experience.
The brand should consider about customer service to serve customer need, so the
customer will satisfy and make decision to purchase or re purchase.
Second, perceived value is an important factor in consumers‟ purchasing
intention process, it can induce purchase intention. And consumers will buy a product
with high perceived value
Third, brand personality is one of the main elements of brand strategy. Brand
personality represent the product if the personality is represented well. It makes
people trust. Thus, it will influence consumer to decide to select the product

5.4 Recommendation for Future Research

The current research has achieved its purpose of investigate the factors which
influence purchase intention for luxury car. The result of the study is useful for the
marketing people or people working in this field of not only car industry but also
other industries. Since this research was limited only luxury car users in Sukhumvit
area, the future research can be done in other locations. Finally, the understanding of
the influence on customers‟ purchase intention can help the brand to increase their
brand demand rate.
 31

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 34

APPENDIX
 35

Questionnaire

Section 1: General Information

1. Gender
Female Male
2. Age
25-30 years old 31-35 years old
36-40 years old 41-45 years old
Older than 45 years old
3. Graduation
High school Bachelor Degree
Master Degree Ph.D.
4. Income
Lower than 30,000/month 30,000-50,000/month
50,000-100,000/month more than 100,000/month

Section 2: Currently used cars

1. What is the luxury car brand you are currently used?
Audi Mercedes Benz
BMW Range Rover
Others:
2. What is the reason you decide to buy a luxury car?
Brand Personality Perceived Value
Customer Satisfaction Survey Others:
3. Why do you bought your present car?
Increase in disable income better safety at roads
Family needs suites your lifestyle and personality
 36

Section 3: Factors of Consumer’s Purchase Intention of Luxury Cars

consumer purchasing decision Strongly Disagree Neutral Agree Strongly

Disagree Agree
I search for information about
the luxury car brand on regular
basis.
Buying the car is beneficial for
daily life.
I will consider the product
feature of the car before I
purchase it.
I have a plan to purchase a
luxury car in the near future.
Customer Satisfaction Strongly Disagree Neutral Agree Strongly
Disagree Agree
I am satisfied with the services
provided by the luxury car
brand
I think this luxury car brand
has successfully provided
value-added services
This value-added service from
the luxury brand is better than
expected
 37

Strongly Disagree Neutral Agree Strongly

Perceived Value
Disagree Agree
I feel I am getting good car
services for a reasonable price
Using the luxury car is worth
for me to sacrifice some time
and efforts
Compared with other luxury
car brand, it is wise to choose
this brand
Strongly Disagree Neutral Agree Strongly
Brand Personality
Disagree Agree
The Luxury car helps me to
express myself.
The Luxury Car has few
features in common with other
brands.
The Luxury Car brand which
I'm using, is completely
different from other brands
 38

BIODATA

Name-Last Name Kanruethai Thanasrichatthin

Email [email protected]

Education Background 2016 Bachelor of Arts

School of Humanities and Tourism
Management, Bangkok University

Working Experience 2019 Business Development Manager

UnionSpace (Thailand) Co., Ltd.
2018 Secretary to General Manager
Modena by Fraser Bangkok