Literature review on the effect of psychosocial factors on product judgements and willingness to buy foreign products: Case study in Vietnam

Trần Thị Ngọc Lan and Tran Thanh Trung

No khjv2, OSF Preprints from Center for Open Science

Abstract: The aim of this research is to show a theoretical review of studies on psychosocial factors affecting the evaluation and willingness to purchase foreign goods in the past; Identify research gap related to evaluation and willingness to consume foreign goods; Propose a conceptual framework for Vietnamese consumers' willingness to consume foreign goods. The results of this research show that psychosocial factors affecting the willingness to consume foreign goods of consumers in previous studies are classified into six groups of factors: consumer affinity, consumer animosity, consumer ethnocentrism, patriotism, consumer cosmopolitanism, and product judgments. Besides, this study is to help local business managers identify a few factors affecting the willingness of Vietnamese consumers to buy foreign products and understand them. Clearly understand the level and direction of impact of each factor. On that basis, it is possible to make marketing policies to help improve the competitiveness of enterprises in the domestic market compared to products imported. Based on social identity theory, cognitive dissonance theory, realistic group conflict theory, and related studies, the research topic has built a research model of psychological factors. Social impact on the evaluation and willingness to consume foreign products.

Date: 2023-03-17
New Economics Papers: this item is included in nep-sea
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Persistent link: https://EconPapers.repec.org/RePEc:osf:osfxxx:khjv2

DOI: 10.31219/osf.io/khjv2

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