Abstract
The Vietnamese home meal replacement (HMR) market is expected to face intensified competition due to economic development and urbanization. This study analyzes how the food consumption values of Vietnamese consumers affect the perceived reliability and intention to purchase Korean food in the form of HMRs and provides basic data to establish strategies for Korean HMRs to secure an advantage in an intensely competitive market. A survey was conducted with Vietnamese consumers who had used Korean HMRs before and are constantly using HMRs on a regular basis. To analyze the relationships between food consumption values, the reliability of Korean HMR, and the intention to purchase Korean HMRs, exploratory factor analysis, reliability analysis, confirmatory factor analysis, and covariance structural models were used. Among the factors of food consumption value, health, safety, time saving, and convenience have a positive effect on the reliability of Korean HMRs, while family and cost-effectiveness do not. Moreover, this reliability has a positive effect on the purchase intention of Korean HMRs. This study is significant in that while investigating Korean HMRs, it is pioneering research on Vietnamese consumers regarding HMRs. Therefore, the results of this study can be used to secure the competitiveness of Korean HMRs in the Vietnamese market.
Highlights
Published: 10 January 2022Vietnam’s GDP (Gross Domestic Product) is constantly growing by 6–7% on average each year based on the Ðổi Mới policy and the Communist Party’s political stability [1,2,3]
The reliability of Korean home meal replacement (HMR) had a positive effect on the intention to purchase Korean HMRs
It is meaningful in that it broadens our understanding of Vietnamese consumers by analyzing their food consumption values and identifies and predicts HMR consumption behavior through this
Summary
Vietnam’s GDP (Gross Domestic Product) is constantly growing by 6–7% on average each year based on the Ðổi Mới (renovation/innovation) policy and the Communist Party’s political stability [1,2,3]. Urbanization, population structure, reduced family size, and increases in female participation in the work force are key factors contributing to growth in the Vietnamese home meal replacement (HMR) market [11,12,13,14,15,16]. This study analyzes the effect of the food consumption values of Vietnamese consumers on the perceived reliability of Korean HMRs and how this reliability affects their intention to purchase Korean HMRs. Hopefully, the results of this study can help set the direction for HMR development and establish marketing strategies based on the consumer attributes and needs of the HMR market in Vietnam, within the established pattern of continuous urbanization as well as the likely future increases in nuclear families and single-person households that will follow. This study provides basic data for firms to secure a competitive advantage in the Vietnamese HMR market, where intense competition is expected
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