Factors impact on purchasing behavior of protective and marine coatings in Viet Nam market

Abstract

Vietnam's economy is developing rapidly, it leads to the strong development of industries, including the marine and manufacturing industry. This has caused an explosion of demand for the protective coatings industry, especially the industrial and marine coatings. However, in Vietnam, although there have been many studies on the purchasing behavior of customers in the decorative paint segment, there have not been many studies on the buying behavior of industrial and marine paints. Therefore, this quantitative study aims to clarify the factors affecting the purchasing behavior of customers in the industrial and marine coatings sectors. Data is gathered from a survey with the participation of 300 customers who have been using industrial and marine paint products. The analysis results show that there are four factors that affect the purchasing behavior of customers, which are product quality, discount promotion, selling price and availability. In which, product quality is the factor that has the strongest impact on the purchasing behavior of customers in this field, followed by discount promotion, availability and selling price. While brand image factor has no effect on customers’ purchasing behavior. From the research results, a number of implications are proposed to suppliers of industrial and marine paint companies make appropriate strategic adjustment.