Behavioral Economics of Consumer Buying Decisions Through Social Network Market Under Dynamic Situations in The Northeastern Region of Thailand

Abstract

 Due to the situation of uncertainty arising from the rapid spread of the new COVID-19 strain in the country, leaders have implemented guidelines for adopting a "New Normal" lifestyle, which includes the transition to an online society.

 The objective of this research is confirmatory factor analysis in the causal relationship model of consumer purchasing decisions by establish empirical evidence based on numerical data and the magnitude of mediating effects to validate our findings. Data were collected through a questionnaire administered to 400 participants aged between 40 and 60 years, who had utilized online social market services at least three times within one month before data collection. These participants lived in the provinces of Nakhon Ratchasima, Khon Kaen, Ubon Ratchathani, and Udon Thani.

The research results revealed two patterns emerging from the experience of the challenging circumstances: 1) The perception of marketing mix factors had an indirect influence on consumers' purchasing decisions through online behavior, with a magnitude of 0.326 units. 2) Dynamic capabilities factors exerted an indirect influence of 0.485 units on purchasing decisions through consumer selection, acting as an intermediary variable in the context of online behavior (Partial Mediation). Additionally, the research identified that the awareness and acceptance of risks associated with technology usage positively impacted the decision to purchase products and services through social media marketing.

 Therefore, E-Commerce businesses must consider and decide on marketing promotion strategies in designing and planning operations. One need to change communication styles to meet the needs of the target audience is to ensure effective communication and understanding.