A Formal Report on “Measuring Consumer Technology Innovators
mindset: Focus on University level students’ technology-based product
purchase behavior”
Consumer Behavior (MKT-4101)
Submitted To:
SARKER RAFIJ AHMED RATAN
Associate Professor - Marketing
School of Business and Economics
United International University
Submitted By:
Ziaur Rahman
111 193 052
Shahriar Mostafa
111 201 117
Asma Binte Emu
111 191 134
Fariha Israk
111 201 207
Mou Morshed
111 201 011
Masruba Akter Nirzona 111 201 028
Date of Submission: 26.08.2023
Letter of Transmittal:
August 26, 2023
SARKER RAFIJ AHMED RATAN
Consumer Behavior
School of Business and Economics (SOBE)
United International University
Subject: For the acceptance of the research report.
Respected Sir,
We are pleased to submit our research report on the survey and extensive literature review,
Measuring Consumer Technology Innovators Mindset: Focus on University level Students'
Technology-based Product Purchase Behavior. While preparing this term paper, we followed
your instructions and guidelines with attention and diligence. This report has been
completed primarily with the help and information from different books and through
an online survey amongst our peers. We express our special gratitude for dedicating your
valuable time, expert guidance, and support. We have tried our best to complete the report
appropriately as much as possible. We will be pleased to answer any query regarding this
report. We hope with great anticipation that you will like and accept our report.
Sincerely Yours,
Ziaur Rahman
(On behalf of the group)
Acknowledgment:
We want to express our deep gratitude to our course instructor, Associate Professor Sarker
Rafij Ahmed Ratan Sir, for his patience, guidance, enthusiastic encouragement, and valuable
feedback on this research work. Our honorable faculty have invested lots of time in making us
understand this report's methods and techniques. His willingness to give us time in this report
is greatly appreciated. Finally, we would like to thank our parents for their support and
encouragement throughout our study.
Executive Summary
The survey and extensive literature review, "Consumer Technology Innovators Mindset: A
Focus on University Level Students' Technology-Based Product Purchase Behavior," aims to
understand the complex factors that guide university students' technology product purchasing
decisions. The survey explores a range of elements, from the decision-making processes
students undergo to the role peer influence plays in their choices. It also examines the weight
students place on budget considerations and specific product features. Complementing the
survey, the literature review provides a broader context, shedding light on existing research
and theories that explain these behaviors. This report serves as a comprehensive summary of
these key findings and introduces thought-provoking questions to stimulate further discussion
and research in this area.
Table of Contents
Introduction .................................................................................................................... 1
Extensive literature review ............................................................................................. 1
1. Purchase intention and purchase behavior online: A cross-cultural approach ....... 1
2. What Influences Students’ Intention to Purchase Innovative Products: Evidence
From China ................................................................................................................. 2
Survey Format and Metrics ............................................................................................ 3
Format ......................................................................................................................... 3
Sample Population ...................................................................................................... 3
Data Collection ........................................................................................................... 3
Demographics ............................................................................................................. 3
Metrics ........................................................................................................................ 3
Analysis of the Survey.................................................................................................... 4
Demographics ............................................................................................................. 4
Behavioral Insights ..................................................................................................... 5
Thought-Provoking Questions for Further Research ................................................... 10
Conclusion .................................................................................................................... 10
Recommendations ........................................................................................................ 11
References: ................................................................................................................... 11
Appendix ...................................................................................................................... 12
Introduction
Understanding consumer behavior is crucial for any industry but takes special significance in
the rapidly evolving tech sector. In today's digital age, technology plays a significant role in
the lives of university students. From laptops for academic work to smartphones for social
interaction, tech products are integral to their daily routine. University students represent a
significant portion of tech consumers, making it essential to understand their purchasing
behaviors and preferences. The objective of this report is to measure the mindset and behaviors
of university-level students regarding their technology-based product purchases.
Extensive literature review
Topic: University Students' Technology-Based Product Purchase Behavior
1. Purchase intention and purchase behavior online: A cross-cultural approach
Author: G. Agag, A.A. El-Masry
Summary: The article provides a detailed exploration of the factors influencing e-commerce
adoption among university students, focusing on elements of social psychology. The research
is grounded in quantitative data from 584 online consumers, primarily university students from
Colombia and Spain. The study is comprehensive, examining not just traditional factors but
also introducing newer elements that might influence the purchasing decisions of university
students.
In-depth Analysis: The article critically evaluates the primary factors that influence university
students' adoption of e-commerce. It emphasizes the role of national culture in shaping these
behaviors, especially among university students who are often at the forefront of technological
adoption. The research reveals that self-efficacy in online stores is a significant factor for
university students when considering electronic commerce. The study also underscores the
importance of understanding the cultural nuances that influence impulsive buying behavior
among this demographic.
Synthesis: The research synthesizes various elements to present a cohesive understanding of
university students' online purchase intentions and behaviors. It combines traditional elements
like attitude and subjective norms with newer elements like buying impulse and self-efficacy
in online stores. The synthesis offers a holistic view of the factors that drive or deter university
students from purchasing technology-based products online.
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Identification of Gaps:
While the article offers a thorough analysis, it also points to the need for more targeted studies
focusing on university students from diverse cultural backgrounds. Given the rapid
technological advancements and the evolving nature of e-commerce, there's a continuous need
to understand the changing dynamics of university students' purchasing behaviors.
2. What Influences Students’ Intention to Purchase Innovative Products: Evidence
From China
Authors: Jie Li, Fan Guo, Jialin Xu, and Zucheng Yu
Summary: This research, grounded in the theory of planned behavior, delves into the
legitimacy of platform governance and examines whether students with varying risk are
inclined to buy innovative products. The study introduces a moderated mediation model that
encompasses risk propensity, cognitive legitimacy, purchase intention, and perceived benefit.
A survey involving 315 consumers from Shanghai, China, was conducted. The findings
indicate that risk propensity is positively correlated with students' purchase intentions, with
cognitive legitimacy playing a mediating role. Moreover, a perceived benefit was found to
moderate the relationship between risk propensity and cognitive legitimacy.
In-depth Analysis: The study is grounded in the theory of planned behavior and investigates
the legitimacy of platform governance. It examines the relationship between consumers' risk
propensities and their inclination to buy innovative products. The research introduces a
moderated mediation model that encompasses risk propensity, cognitive legitimacy, purchase
intention, and perceived benefit. A survey involving 315 students from Shanghai, China, was
conducted, and the findings were statistically analyzed.
Synthesis: The research combines various theories and models to present a cohesive
understanding of consumers' purchase intentions for innovative products. It integrates the
theory of planned behavior, risk propensity, cognitive legitimacy, and perceived benefit to
provide insights into the factors influencing purchase decisions.
Identification of Gaps: While the study provides valuable insights into the Chinese market,
there's a potential gap in understanding how these findings apply to different cultural or
demographic groups. Additionally, the study focuses on innovative products without
specifying the type or category of these products, which could be explored further.
2|Page
Survey Format and Metrics
Format
The survey we conducted is structured as a questionnaire with a total of 10 questions. The
questions are primarily closed-ended, requiring respondents to select from a range of options.
Each question is designed to understand different aspects of the students' tech purchasing
behavior. The questions are primarily closed-ended, requiring respondents to select from
various options.
Sample Population
The survey targeted university-level students, capturing a diverse range of ages and genders.
Data Collection
The data was collected through an online survey, garnering a total of 27 responses from
university students.
Demographics
The survey starts by collecting demographic information, specifically focusing on:
Gender: The options are "Male" and "Female," allowing the survey to analyze purchasing
behavior based on gender.
Age Group: The age groups are categorized as "18 - 20," "21 - 23," and "24 - 26," which helps
in understanding how purchasing behavior varies across different stages of university life.
Metrics
The survey employs a Likert scale for most of its questions, ranging from "Highly Disagree"
to "Highly Agree," represented numerically as 1 to 5. This scale allows for a nuanced
understanding of the respondents' attitudes and preferences. The use of a Likert scale also
facilitates easier data analysis, as the responses can be quantified for statistical interpretation.
3|Page
Analysis of the Survey
Demographics
Gender: The survey attracted a balanced gender distribution, with both males and females
actively participating.
Age: Most of the respondents fell within the age group of 21-26, making the data highly
relevant to university-level students.
4|Page
Behavioral Insights
Research-Driven Decisions: The data suggests that university students are cautious consumers,
with a majority giving a rating between 3 and 4 for making decisions based on extensive techproduct research. This indicates a moderate to high reliance on research before making a
purchase.
Hands-On Experience: Students value hands-on experience highly, as most ratings fall between
4 and 5. This suggests that physical stores and demo units could play a significant role in their
purchase decisions.
5|Page
Functionality vs. Trends: Functionality appears to be more important than following
technological trends, with higher average ratings for the former. This implies that students are
more concerned with how a product will meet their needs rather than how trendy it is.
6|Page
Budget Constraints: Budget considerations are crucial for this demographic, with most students
rating its importance highly. This suggests that pricing strategies could significantly influence
their purchase decisions.
Financial Offerings: Financial offerings like EMIs seem to moderately influence purchase
decisions, with most ratings hovering around the 3 mark. This indicates that while financial
offerings are considered, they are not the most critical factor.
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Sustainability and Longevity: These factors are highly valued, with most ratings falling
between 4 and 5. This suggests that students are looking for long-term value in their tech
purchases.
Influence of Reviews: Both online and peer reviews seem to have a strong effect on this
demographic, with most ratings above 4. This indicates the importance of online reputation
management for tech companies targeting this group.
8|Page
Peer Influence: Peer suggestions and recommendations also hold moderate to high sway,
indicating that word-of-mouth could be an effective marketing strategy.
Standout Features: Features like Camera, Processor, and RAM can be decisive factors, with
most students rating their importance between 3 and 4. This suggests that having one or two
standout features could tip the scales in favor of a particular product.
9|Page
Thought-Provoking Questions for Further Research
•
How can tech companies create more informative and transparent marketing materials?
•
The Role of Peer Influence: Can tech companies create ambassador programs or referral
schemes to capitalize on the power of peer influence?
•
Budget vs. Features: Is it more beneficial for tech companies to offer budget-friendly
products with fewer features or premium products with flexible payment options?
•
Role of National Culture: How does the national culture of a country influence the
online purchasing behavior of university students?
•
Self-Efficacy in Online Stores: Could self-efficacy in using online platforms be a
significant factor in influencing university students' technology-based product
purchases?
•
Cross-Cultural Study: What are the implications of studying consumer behavior across
different cultures, especially focusing on university students?
•
Risk Propensity and Purchase Behavior: How does an individual's risk propensity
influence their inclination to purchase innovative products? Does a higher risk
propensity lead to a greater likelihood of purchasing innovative products?
•
Cognitive Legitimacy: How does the perceived legitimacy of a platform or brand
influence a consumer's purchase intention? Does a higher cognitive legitimacy lead to
a stronger purchase intention?
•
Role of Perceived Benefit: How does the perceived benefit of a product or service
moderate the relationship between an individual's risk propensity and their purchase
intention?
Conclusion
Understanding the consumer behavior of university students can provide tech companies with
valuable insights to tailor their products and marketing strategies. The survey reveals a complex
interplay of factors like research, budget, and peer influence that shape these purchasing
decisions. Further studies could delve deeper into each of these aspects for a more
comprehensive understanding.
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Recommendations
Tech companies should be clear and honest in their marketing, giving all the details students
need since they like to research before buying. It's important to focus on how useful a product
is rather than just how trendy it is. Students also like to try products before they buy, so having
places where they can test them out would be a good idea. Special deals, like student discounts
or bundle offers, can attract more student buyers, especially if they're on a tight budget. Positive
online reviews from other customers can really influence students, so companies should
encourage happy customers to share their experiences. It's also a good idea for companies to
highlight how long-lasting and eco-friendly their products are. Flexible payment options, like
monthly plans, can make it easier for students to buy. Companies should also be aware of
cultural differences if they're selling products in different countries. Since the tech world
changes quickly, companies should keep checking what students want and need. Lastly, a good
online reputation is crucial, so companies should address any negative feedback and highlight
the good reviews.
These recommendations will aim to help tech companies and marketers effectively target
university-level students and cater to their specific needs and preferences. Incorporating these
strategies can lead to increased brand loyalty and sales among this demographic.
References:
1. Agag, G., & El-Masry, A.A. (2020). Purchase intention and purchase behavior online:
A cross-cultural approach. Link to the article.
2. Li, J., Guo, F., Xu, J., & Yu, Z. (2022). What Influences Consumers’ Intention to
Purchase Innovative Products: Evidence From China. Link to the article
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Appendix
Appendix A: Consumer Technology Innovators mind-set: A focus on University level
students’ technology-based product purchase behavior
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