Determining the impact of brand value on the credibility of influencers over the purchase decision of millennial consumers
-
DOIhttp://dx.doi.org/10.21511/im.18(2).2022.12
-
Article InfoVolume 18 2022, Issue #2, pp. 135-147
- Cited by
- 1690 Views
-
527 Downloads
This work is licensed under a
Creative Commons Attribution 4.0 International License
Nowadays, social media influencers are one of the most important assets of many businesses that originate purchase decisions. The relevance of this paper is determined by the fact that it tries to fill in the research gap of literature determining the factors that might influence the purchase decisions of millennial consumers based on the theories of the constructs. The purpose is to determine the impact of brand value on the credibility of influencers over the purchase decision. Therefore, 412 millennial consumers from the city of Arequipa, Peru, were surveyed through an online form provided by Google. Then, the validation and descriptive statistics were made on the program SPSS. Additionally, the inferential statistics using the software Smart PLS. The results show a positive, significant, and direct relationship between the credibility of influencers and customers’ purchase decisions. Moreover, this relationship increases through the brand value when incorporated into the model as a mediator variable, facilitating the decision of consumers. In conclusion, it was estimated that consumers feel even more confident when social media influencers transmit the message showing specific brand attributes.
Acknowledgments
The authors thank the Universidad Nacional de San Agustin de Arequipa for its support in developing this project.
The present study has been self-financed by the authors.
- Keywords
-
JEL Classification (Paper profile tab)M31, M37
-
References72
-
Tables5
-
Figures2
-
- Figure 1. Research model
- Figure 2. Model results
-
- Table 1. Descriptive analysis of the study variables
- Table 2. Reliability, validity, and collinearity of the variables
- Table 3. Indicator analysis, discriminant validity, and collinearity
- Table 4. Structural models
- Table 5. Brand equity mediation
-
- Aaker, D. (1992). The Value of Brand Equity. Journal of Business Strategy, 13(4), 27-32.
- Agostino, D., Arnaboldi, M., & Calissano, A. (2019). How to quantify social media influencers: An empirical application at the Teatro alla Scala. Heliyon, 5(5), e01677.
- Alba, J., & Hutchinson, J. (1987). Dimensions of Consumer Expertise. Journal of Consumer Research, 13(4), 411-454.
- Avkiran, N., & Ringle, C. (2018). Partial Least Squares Structural Equation Modeling: Recent Advances in Banking and Finance (239 p.). Cham: Springer.
- Baudhuin, E., & Davis, M. (1972). Scales for the measurement of ethos: Another attempt. Speech Monographs, 39(4), 296-301.
- Berlo, D., Lemert, J., & Mertz, R. (1969). Dimensions for evaluating the acceptability of message sources. Public Opinion Quarterly, 33(4), 563-576.
- Bock, D., & Saine, T. (1975). The impact of source credibility, attitude valence, and task sensitization on trait errors in speech evaluation. Speech Monographs, 42(3), 229-236.
- Bratu, S. (2019). Can social media influencers shape corporate brand reputation? Online followers’ trust, value creation, and purchase intentions. Review of Contemporary Philosophy, 18, 154-160.
- Cepeda-Carrión, G., & Barbosa-Trueba, Á. (2016). La dinámica empresarial: Capacidades dinámicas y operativas en una teoría de la competitividad. Economía Industrial, 399, 23-32. (In Spanish).
- Chakraborty, U., & Bhat, S. (2018). The Effects of Credible Online Reviews on Brand Equity Dimensions and Its Consequence on Consumer Behavior. Journal of Promotion Management, 24(1), 57-82.
- Chávez, E., Zirena, P., de la Gala, B., & Hurtado-Palomino, A. (2021). From the adaptation capacity to pioneering behavior in companies in the main cultural tourist destinations: Divergent effects of the dynamism of the environment. Management Science Letters, 11(2), 441-450.
- Chopra, A., Avhad, V., & Jaju, S. (2021). Influencer Marketing: An Exploratory Study to Identify Antecedents of Consumer Behavior of Millennial. Business Perspectives and Research, 9(1), 77-91.
- Constantinides, E., Lorenzo-Romero, C., & Gómez, M.A. (2010). Effects of web experience on consumer choice: a multicultural approach. Internet research, 20(2), 188-209.
- De Veirman, M., Cauberghe, V., & Hudders, L. (2017). Marketing through instagram influencers: The impact of number of followers and product divergence on brand attitude. International Journal of Advertising, 36(5), 798-828.
- Del Fresno, G., Daly, A., & Sánchez-Cabezudo, S. (2016). Identificando a los nuevos influyentes en tiempos de Internet: Medios sociales y análisis de redes socials. Revista Espanola de Investigaciones Sociologicas, 153, 23-42. (In Spanish).
- Dwidienawati, D., Abdinagoro, S. B., Gandasari, D., & Nadira. (2019). Young customers’ perception on influencer endorsement, customer review and E-tailing channel. International Journal of Advanced Trends in Computer Science and Engineering, 8(6), 3369-3374.
- Eisend, M. (2002). Dimensions of Credibility in Marketing Communication. AP - Asia Pacific Advances in Consumer Research, 5, 366-373.
- Erasmus, A., Boshoff, E., & Rousseau, G. (2001). Consumer decision-making models within the discipline of consumer science: a critical approach. Journal of Family Ecology and Consumer Sciences, 29(1), 82-90.
- Fan, W., & Tsai, M. (2010). Factors driving website success – the key role of internet customisation and the influence of website design quality and internet marketing strategy. Total Quality Management and Business Excellence, 21(11), 1141-1159.
- Fernandes, S., Venkatesh, V., Panda, R., & Shi, Y. (2021). Measurement of factors influencing online shopper buying decisions: A scale development and validation. Journal of Retailing and Consumer Services, 59, 102394.
- Fornell, C., & Larcker, D. (1981). Evaluating Structural Equation Models with Unobservable Variables and Measurement Error. Journal of Marketing Research, 18(1), 39-50.
- Gemünden, H. (1985). Perceived risk and information search. A systematic meta-analysis of the empirical evidence. International Journal of Research in Marketing, 2(2), 79-100.
- Goldsmith, R., Lafferty, B., & Newell, S. (2000). The impact of corporate credibility and celebrity credibility on consumer reaction to advertisements and brands. Journal of Advertising, 29(3), 43-54.
- Guerrero, E. (2020). Efectos de la pandemia de covid-19 sobre la adopción de las tic en el Perú. Ius Inkarri, 9, 325-346. (In Spanish).
- Gupta, S., Gallear, D., Rudd, J., & Foroudi, P. (2020). The impact of brand value on brand competitiveness. Journal of Business Research, 112, 210-222.
- Hair, J., Hult, G., Ringle, C., & Sarstedt, M. (2017). A primer on partial least squares structural equation modeling (PLS-SEM) (2nd ed.). Thousand Oaks: SAGE Publications Inc.
- Hair, J., Ringle, C., & Sarstedt, M. (2011). PLS-SEM: Indeed a silver bullet. Journal of Marketing Theory and Practice, 19(2), 139-152.
- Hair, J., Risher, J., Sarstedt, M., & Ringle, C. (2019). When to use and how to report the results of PLS-SEM. European Business Review, 31(1), 2-24.
- Harmon, R., & Coney, K. (1982). The Persuasive Effects of Source Credibility in Buy and Lease Situations. Journal of Marketing Research, 19(2), 255-260.
- Hassanein, K., & Head, M. (2007). Manipulating perceived social presence through the web interface and its impact on attitude towards online shopping. International Journal of Human Computer Studies, 65(8), 689-708.
- Henseler, J., Hubona, G., & Ray, P. (2016). Using PLS path modeling in new technology research: Updated guidelines. Industrial Management and Data Systems, 116(1), 2-20.
- Henseler, J., Ringle, C., & Sarstedt, M. (2015). A new criterion for assessing discriminant validity in variance-based structural equation modeling. Journal of the Academy of Marketing Science, 43(1), 115-135.
- Hovland, C., & Weiss, W. (1951). The Influence of Source Credibility on Communication Effectiveness. Public Opinion Quarterly, 15(4), 635-650.
- Hovland, C., Janis, I., & Kelley, H. (1953). Communication and persuasion. New Haven: Yale Unersity Press.
- Hsiao, Y., Chen, C., Guo, R., & Hu, K. (2017). First-mover strategy, resource capacity alignment, and new product performance: a framework for mediation and moderation effects. R and D Management, 47(1), 75-87.
- Hutchins, A., & Tindall, N. (2016). Public Relations and Participatory Culture: Fandom, Social Media and Community Engagement. Routledge.
- INEI. (2018). Resultados Definitivos del departamento de Arequipa. Instituto Nacional de Estadistica e Informatica. (In Spanish).
- Iqani, M. (2019). Picturing luxury, producing value: The cultural labour of social media brand influencers in South Africa. International Journal of Cultural Studies, 22(2), 229-247.
- Irshad, M., Ahmad, M., & Malik, O. (2020). Understanding consumers’ trust in social media marketing environment. International Journal of Retail and Distribution Management, 48(11), 1195-1212.
- Jiménez-Castillo, D., & Sánchez-Fernández, R. (2019). The role of digital influencers in brand recommendation: Examining their impact on engagement, expected value and purchase intention. International Journal of Information Management, 49, 366-376.
- Johansen, I., Guldvik, C., Supervisor, G., & Hem, L. (2017). Influencer Marketing and Purchase Intentions (Master’s Thesis) (141 p.).
- Keller, E., & Fay, B. (2016). How to use influencers to drive a word-of-mouth strategy. Warc.
- Keller, K. (1993). Conceptualizing, Measuring, and Managing Customer-Based Brand Equity. Journal of Marketing, 57(1), 1-22.
- Keller, K. (2003). Brand Synthesis: The Multidimensionality of Brand Knowledge. Journal of Consumer Research, 29(4), 595-600.
- Keller, E., & Fay, B. (2016). How to use influencers to drive aword-of-mouth strategy. WarcBest Practice, 1, 2-8.
- Kotler, P., & Armstrong, G. (2017). Fundamentos de Marketing. México: Pearson Educación.
- Kraemer, K., & Dedrick, J. (2002). Strategic use of the Internet and e-commerce: Cisco Systems. Journal of Strategic Information Systems, 11(1), 5-29.
- Liang, T.-P., & Lai, H.-J. (2002). Effect of store design on consumer purchases: van empirical study of online bookstores. Information & Management, 39(6), 431-444.
- Lorenzo, O., Kawalek, P., & Ramdani, B. (2012). Enterprise applications diffusion within organizations: A social learning perspective. Information and Management, 49(1), 47-57.
- Lou, C., & Yuan, S. (2019). Influencer Marketing: How Message Value and Credibility Affect Consumer Trust of Branded Content on Social Media. Journal of Interactive Advertising, 19(1), 58-73.
- Metzger, M. (2007). Making sense of credibility on the Web: Models for evaluating online information and recommendations for future research. ASIS&T, 58(13), 2078-2091.
- Munnukka, J., Uusitalo, O., & Koivisto, V. (2017). The consequences of perceived risk and objective knowledge for consumers’ investment behavior. Journal of Financial Services Marketing, 22(4), 150-160.
- Nicolau, J., Guix, M., Hernandez-Maskivker, G., & Molenkamp, N. (2020). Millennials’ willingness to pay for green restaurants. International Journal of Hospitality Management, 90, 102601.
- Ohanian, R. (1990). Construction and validation of a scale to measure celebrity endorsers’ perceived expertise, trustworthiness, and attractiveness. Journal of Advertising, 19(3), 39-52.
- Pisano, G. (1994). Knowledge, Integration, and the Locus of Learning: An Empirical Analysis of Process Development. Strategic Management Journal, 15(S1), 85-100.
- Platts, K., Probert, D., & Cáez, L. (2002). Make vs. buy decisions: A process incorporating multi-attribute decision-making. International Journal of Production Economics, 77(3), 247-257.
- Ramaswamy, V., & Ozcan, K. (2016). Brand value co-creation in a digitalized world: An integrative framework and research implications. International Journal of Research in Marketing, 33(1), 93-106.
- Ranganathan, C., & Ganapathy, S. (2002). Key dimensions of business-to-consumer web sites. Information and Management, 39(6), 457-465.
- Roldan, J., & Sanchez-Franco, M. (2012). Variance-Based Structural Equation Modeling: Guidelines for Using Partial Least Squares in Information Systems Research. In M. Mora, O. Gelman, A. L. Steenkamp, & Raisinghani (Eds.), Research Methodologies, Innovations and Philosophies in Software Systems Engineering and Information Systems. IGI Global.
- Rust, R., Danaher, P., & Varki, S. (2000). Using service quality data for competitive marketing decisions. International Journal of Service Industry Management, 11(5), 438-469.
- Schiffman, L. (2011). Comportamiento del Consumidor. Pearson. (In Spanish).
- Shimp, T., & Andrews, C. (2013). Advertising, promotion, and other aspects of integrated marketing communication. Cengage Learning.
- Shmueli, G., Sarstedt, M., & Hair, J., Cheah, J.-H., Ting, H., Vaithilingam, S., & Ringle, C. M. (2019). Predictive model assessment in PLS-SEM: guidelines for using PLSpredict. European Journal of Marketing, 53(11), 2322-2347.
- Tanha, M. (2020). Exploring the credibility and self-presentation of insta micro-celebrities in influencing the purchasing decisions of Bangladeshi users. SEARCH Journal of Media and Communication Research, 12(2), 1-20.
- Tasci, A. (2018). Testing the cross-brand and cross-market validity of a consumer-based brand equity (CBBE) model for destination brands. Tourism Management, 65, 143-159.
- Torres-Romay, E., & García Mirón, S. (2020). Influencers y coronavirus. Los contenidos sobre la pandemia COVID-19 en las publicaciones de prescriptores de redes sociales en España (2020): el caso de Instagram. Quaderns Del Cac, 46(23), 1-11. (In Spanish).
- Urban, G., & Hauser, J. (2003). “Listening In” to Find Unmet Customer Needs and Solutions. SSRN Electronic Journal.
- Uzunoǧlu, E., & Kip, S. (2014). Brand communication through digital influencers: Leveraging blogger engagement. International Journal of Information Management, 34(5), 592-602.
- Watts, D.J., & Dodds, P.S. (2007). Influentials, networks and public opinion formation. Journal of consumer research, 34(4), 441-458.
- Whitehead, J. (1968). Factors of source credibility. Quarterly Journal of Speech, 54(1), 59-63.
- Yoo, B., Donthu, N., & Lee, S. (2000). An examination of selected marketing mix elements and brand equity. Journal of the Academy of Marketing Science, 28(2), 195-211.
- Zeithaml, V. (1988). Consumer Perceptions of Price, Quality, and Value: A Means-End Model and Synthesis of Evidence. Journal of Marketing, 52(3), 2-22.