Determinants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products

The development of the biotech industry is in full swing, and consumers have begun to value biotech brands. Since biotech products often focus on the future or special benefits, consumers inevitably bear certain risks when purchasing biotech products, and their trust in the biotech brand will have a...

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Autores principales:	Shih-Wei Chen, Ku-Yuan Lee, Chi-Ming Hsieh
Formato:	article
Lenguaje:	EN
Publicado:	MDPI AG 2021
Materias:	trust biotech industry brand purchase intention Medicine R
Acceso en línea:	https://doaj.org/article/769e21b081ca45729adb477e82ee933b
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spelling	oai:doaj.org-article:769e21b081ca45729adb477e82ee933b2021-11-11T16:41:15ZDeterminants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products10.3390/ijerph1821115741660-46011661-7827https://doaj.org/article/769e21b081ca45729adb477e82ee933b2021-11-01T00:00:00Zhttps://www.mdpi.com/1660-4601/18/21/11574https://doaj.org/toc/1661-7827https://doaj.org/toc/1660-4601The development of the biotech industry is in full swing, and consumers have begun to value biotech brands. Since biotech products often focus on the future or special benefits, consumers inevitably bear certain risks when purchasing biotech products, and their trust in the biotech brand will have an important impact on their purchase intention. Previous studies have lacked a targeted understanding of consumer trust in biotech brands and a discussion of cultural viewpoints. This study introduced the concept of personal connections in Chinese relationalism and trust strategies in Chinese society to address this gap. In-depth interviews and focus group discussions were conducted in collaboration with Company X, a listed Taiwanese cord blood company, to extract the key factors influencing consumer trust and purchase intention of biotech brands. After constructing the structure model, the study was validated using a structural equation model through investigation and survey. The findings indicated that consumer trust in biotech brands was constructed by a combination of kinship trust transfer and emergent trust transfer within the consumer relationship network, as well as institutional trust and professional trust outside the relationship network and that a significant positive correlation existed between consumer trust in biotech brands and purchase intention. The acquaintances within the consumer relationship network include not only relatives and friends but also health care workers and netizens that consumers come into contact with. In addition, kinship trust transfer and emergent trust transfer within the consumer relationship network have a greater impact on trust in biotech brands than the institutional trust and professional trust outside the relationship network. The findings of this study deepen the understanding of consumer trust in biotech brands across cultures, and suggest that future marketing communication should be expanded to include key players within the consumer relationship network.Shih-Wei ChenKu-Yuan LeeChi-Ming HsiehMDPI AGarticletrustbiotech industrybrandpurchase intentionMedicineRENInternational Journal of Environmental Research and Public Health, Vol 18, Iss 11574, p 11574 (2021)
institution	DOAJ
collection	DOAJ
language	EN
topic	trust biotech industry brand purchase intention Medicine R
spellingShingle	trust biotech industry brand purchase intention Medicine R Shih-Wei Chen Ku-Yuan Lee Chi-Ming Hsieh Determinants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products
description	The development of the biotech industry is in full swing, and consumers have begun to value biotech brands. Since biotech products often focus on the future or special benefits, consumers inevitably bear certain risks when purchasing biotech products, and their trust in the biotech brand will have an important impact on their purchase intention. Previous studies have lacked a targeted understanding of consumer trust in biotech brands and a discussion of cultural viewpoints. This study introduced the concept of personal connections in Chinese relationalism and trust strategies in Chinese society to address this gap. In-depth interviews and focus group discussions were conducted in collaboration with Company X, a listed Taiwanese cord blood company, to extract the key factors influencing consumer trust and purchase intention of biotech brands. After constructing the structure model, the study was validated using a structural equation model through investigation and survey. The findings indicated that consumer trust in biotech brands was constructed by a combination of kinship trust transfer and emergent trust transfer within the consumer relationship network, as well as institutional trust and professional trust outside the relationship network and that a significant positive correlation existed between consumer trust in biotech brands and purchase intention. The acquaintances within the consumer relationship network include not only relatives and friends but also health care workers and netizens that consumers come into contact with. In addition, kinship trust transfer and emergent trust transfer within the consumer relationship network have a greater impact on trust in biotech brands than the institutional trust and professional trust outside the relationship network. The findings of this study deepen the understanding of consumer trust in biotech brands across cultures, and suggest that future marketing communication should be expanded to include key players within the consumer relationship network.
format	article
author	Shih-Wei Chen Ku-Yuan Lee Chi-Ming Hsieh
author_facet	Shih-Wei Chen Ku-Yuan Lee Chi-Ming Hsieh
author_sort	Shih-Wei Chen
title	Determinants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products
title_short	Determinants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products
title_full	Determinants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products
title_fullStr	Determinants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products
title_full_unstemmed	Determinants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products
title_sort	determinants of consumers’ trust in biotech brands and purchase intentions towards the cord blood products
publisher	MDPI AG
publishDate	2021
url	https://doaj.org/article/769e21b081ca45729adb477e82ee933b
work_keys_str_mv	AT shihweichen determinantsofconsumerstrustinbiotechbrandsandpurchaseintentionstowardsthecordbloodproducts AT kuyuanlee determinantsofconsumerstrustinbiotechbrandsandpurchaseintentionstowardsthecordbloodproducts AT chiminghsieh determinantsofconsumerstrustinbiotechbrandsandpurchaseintentionstowardsthecordbloodproducts
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Determinants of Consumers’ Trust in Biotech Brands and Purchase Intentions towards the Cord Blood Products

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