Abstract
Bangladesh, an emerging economy, has substantial dependence on and predilection for foreign products. We made an effort to delve into the factors influencing consumer purchase decision of imported products, considering some regular use consumer shopping products. We have employed multiple regression analysis as the statistical tool. Regression model of our study demonstrated statistical significance and appeared competent to explain 76% of the total variance in the dependent variable. The determinants posed positive influence are brand preference, COO bias, trust in retail store, uninterrupted availability, fewer local alternatives, prestige symbol in reference group; while price and utility imbalance played negative influence.
Highlights
Regression model of our study demonstrated statistical significance and appeared competent to explain 76% of the total variance in the dependent variable
The steps in sampling design process were as follows: Target population: Our study focused the individuals as sampling elements, who make purchase decisions and have their own income, as dependents will be less competent to judge price-utility consistencies, brand name and country of origin (COO) implications, and overall biases for purchase
Combinations of explanatory variables were made to reduce the problem of multicollinearity as much as possible, as the assumptions of CLRM is that there is no multicollinearity among the regressors included in the regression model (Gujarati, 2003)
Summary
Bangladeshi consumers, holding a favorable image to foreign products, may have several considerations for purchasing foreign made products. The study is aimed at achieving following outcomes: Identifying multiple variables that lead to purchase and consumption of foreign products in a regular basis. Revealing the significance of the explanatory variables. Developing a model to understand the strength of relationship between the dependent variable and independent variables. Ascertaining the level of influence by each explanatory variable on dependent variable
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