The Influence of the Attributes of Electric Vehicles on Brand Image, Consumer Attitude, and Purchase Intention: Focusing on the Moderating Effects of ESG Management

Abstract

Purpose - Direct and indirect factors affecting purchase of electric vehicles, and potential factors affecting purchase intention are studied. The effects of electric car attributes (functionality, economy, design, safety), brand image, and consumer attitude on electric car purchase intention was examined. The mediating effect of brand image and consumer attitude is examined. In addition, the moderating effect of ESG management between attributes and the brand image of electric vehicles was examined. Design/Methodology/Approach - Electric vehicle attributes were set as independent variables, and purchase intentions were set as dependent variables. In addition, the mediating effect of brand image and consumer attitude and the moderating effect of ESG management were considered. An empirical study was conducted targeting Chinese consumers, and multiple regression analysis was used as the research methodology. Findings - The attributes of electric vehicles (functionality, economy, design, safety) had a significant effect on brand image and purchase intention. Among the attributes of electric vehicles, economic feasibility, design, and safety had a significant positive (+) effect on consumer attitudes. Brand image and consumer attitude showed a positive (+) mediating effect between electric vehicle attributes and purchase intention. Further, the moderating effect of ESG management showed a positive moderating effect only between functionality and brand image. Research Implications - The study provides academic, practical, and policy implications for establishing an electric vehicle marketing strategy in the Chinese market. In particular, it is meaningful to marketing and distribution strategies for foreign companies, including Korean companies that wish to advance into China.