Abstract
Entrepreneurial innovations lead to transformations in the existing business model, involving them integrating the new knowledge into the established entrepreneurial activities. The current study combines marketing strategies, entrepreneurial innovation, absorptive capacity, and consumer purchasing behavior in the health sector. This study investigates the impact of packaging and labeling strategies on entrepreneurial innovation and consumer purchasing behavior. Therefore, this study also investigates the mediating effect of entrepreneurial innovation between packaging and labeling strategies and consumer purchasing behavior. The study examines the moderating role of absorptive capacity between entrepreneurial innovation and consumer purchasing behavior. While using convenience sampling, this study used the consumer of medications as a sample from China. The research adopted a quantitative method to conduct the study analysis. A well-structured questionnaire with a 5-point Likert scale has used for the study analysis. The adopted questionnaires were utilized in data collection with 702 with a 70% response rate, and Smart PLS was used to analyze the data. The findings of this study indicate that packaging and labeling strategies significantly influence entrepreneurial innovation and consumer purchasing behavior. Entrepreneurial innovation significantly mediates the packaging and labeling strategies and consumer purchasing behavior. The moderating role of absorptive capacity significantly affects entrepreneurial innovation and consumer purchasing behavior. The implications of the investigated model with innovative marketing strategies give new insights for managerial, policymakers, and research perspectives.
Highlights
Due to the progressing globalization and increasing competition nowadays, the need for effective product recognition has become essential, with product packaging playing a critical role in driving the vehicle of manufacturing businesses
After selecting the software, the step is a measurement of composite reliability (Figure 2). It is suggested by Hair et al [74], the reliability value of constructs should be above 0.7, and Average variance extracted (AVE) should be higher than 0.5
The analysis has found that absorptive capacity is significant in the relationship between entrepreneurial innovation and consumer purchase behavior
Summary
Due to the progressing globalization and increasing competition nowadays, the need for effective product recognition has become essential, with product packaging playing a critical role in driving the vehicle of manufacturing businesses. All the processed commodities require formalized packaging from the first phase of product generation to the final distribution. Consumer purchase behavior is a process of assessing, selecting, and obtaining the product that fulfills the requirement of the buyers. The wide extend of products characteristics accessible to consumers respects quality, design, label, packaging, and functionality, satisfying the consumers’ requirement. Product characteristics capture the consumer’s attention in the shape of color, design, packaging, and labeling. Packaging provides a valuable experience to all the buyers, developing a positive consumer perception, thereby pulling the potential consumers toward the brand [1]. Producers and manufacturers communicate with the consumers through information sources (i.e., product characteristics). The information provided in the shape of packaging assists the consumer in making the most favorable buying choices. Packaging strategies at various levels within industries (e.g., pharmaceutical) record positive consumer behavior [2]
Sign-in/Register to view highlights & summary Talk to us
Join us for a 30 min session where you can share your feedback and ask us any queries you have
Schedule a callDisclaimer: All third-party content on this website/platform is and will remain the property of their respective owners and is provided on "as is" basis without any warranties, express or implied. Use of third-party content does not indicate any affiliation, sponsorship with or endorsement by them. Any references to third-party content is to identify the corresponding services and shall be considered fair use under The CopyrightLaw.
