THE INFLUENCES OF PERCEIVED RISK AND TRUST ON PURCHASING DECISION OF THAI KARIYAT HERB PRODUCTS (ANDROGRAPHIS PANICULATA) VIA DIGITAL MARKETING PLATFORMS
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Abstract
The objective of this research is to study the influential path of marketing factors affecting purchasing decision of Thai Kariyat herb products via digital marketing platforms. This is a mixed-method research with the use of exploratory sequential design. The first stage is qualitative research, with 15 respondents (people who have online shopping experiences of Thai Kariyat herb products via digital platforms) participating in a semi-structured interview and photo elicitation to analyze marketing elements. The textual data is analyzed using a theme analysis. According to the qualitative findings, the components that influence customers’ perspectives about the Thai Kariyat herb products market via digital platforms include consumer perceptions of online purchasing risks, consumer trust, and consumer purchase decisions. The second stage is quantitative research to examine and validate the research hypotheses created by the findings from the first stage. To acquire primary data, an online survey form was used. To obtain an undetermined number of samples, a convenience sampling strategy was used. A structural equation model was used to analyze the data from 407 completed surveys (SEM). The research results reveal that the model has a Goodness-of-ft with empirical data with the following statistical values (χ2/df = 3.48, AIC = 10,356.05, BIC = 10,625.65, CFI = 0.93, TLI = 0.91, RMSEA = 0.07) that meet the good requirement of acceptable literature; the path analysis result illustrates (1) perceived risks on online purchasing has a positive direct effect on consumer trust; (2) perceived risks on online purchasing has a positive direct effect on purchasing decision; (3) consumer trust has a positive direct effect on purchasing decision; and (4) perceived risks on online purchasing has a positive indirect effect on purchasing decision mediated by consumer trust. The implications for literature suggest that consumers’ perceptions of online purchasing risks and consumer trust are important elements that influence customers’ emotions and attitudes, which lead to purchases of Thai Kariyat herb products via digital platforms. The implications for practice suggest marketing strategies including presenting product manufacturing processes, advertising that shows the beneficial benefits of product use, payment security services, and merchants’ self-identification on social media. These are utilized to boost consumers’ good sentiments concerning Thai Kariyat herb items acquired through digital platforms, including trust and awareness.
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