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Understanding consumer dynamics : factors influencing brand loyalty in pain relief medications : the case of biogesic's consumers in Myanmar |
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| รหัสดีโอไอ | |
| Title | Understanding consumer dynamics : factors influencing brand loyalty in pain relief medications : the case of biogesic's consumers in Myanmar |
| Creator | Moe Myint Shein |
| Publisher | University of the Thai Chamber of Commerce (UTCC) |
| Publication Year | 2567 |
| Keyword | Consumer behavior -- Burma, Brand loyalty -- Burma |
| Abstract | Myanmar's pharmaceutical market faces significant challenges amidst a turbulent economic landscape marked by conflict, inflation, and logistical disruptions. Despite these adversities, the sector shows resilience, with projected growth in revenue and market volume over the coming years. Biogesic, a leading brand in Myanmar's pain relief medication market, commands a substantial market share despite intense competition and supply chain constraints caused by governmental regulations and current landscape. This study explores the factors influencing brand loyalty among Biogesic consumers in Myanmar, aiming to provide insights crucial for sustaining market leadership. The research employs a quantitative approach to investigate psychographic variables impacting brand loyalty. Findings reveal that brand trust, competitive pricing, and perceived product quality significantly influence consumer loyalty. Specifically, strong brand trust and competitive pricing emerge as robust predictors of brand loyalty, highlighting their pivotal roles in consumer decision-making processes. In contrast, while customer satisfaction and product availability are important, they do not exhibit significant direct impacts on brand loyalty, highlighting interesting consumer behavior dynamics in the pharmaceutical sector. To maintain brand loyalty, the study recommends enhancing brand trust, maintaining competitive pricing strategies, and emphasizing perceived high product quality in marketing efforts. Acknowledging the roles of customersatisfaction and product availability, the study shows the need for a holistic approach to brand loyalty development in Myanmar's pharmaceutical market. This research contributes to the pharmaceutical industry's understanding of consumer behavior in Myanmar, offering actionable insights for Biogesic to refine marketing strategies. It is hopeful to help Biogesic to reinforce brand loyalty, and sustain its competitive edge in Myanmar's evolving healthcare market. Future research directions could explore broader demographic segments to validate findings across diverse consumer groups or employ qualitative methodologies to dive deeper into more consumer perceptions. Additionally, investigating other potential variables such as brand experience and social influences could provide further insights into enhancing brand loyalty strategies in Myanmar's pharmaceutical market. In conclusion, this study serves as a foundational exploration into the complex factors shaping brand loyalty within Myanmar's pain relief medication sector, a sector that has not previously been extensively explored. This research fills a critical gap in understanding consumer behavior in Myanmar's pharmaceutical market, paving the way for strategic advancements in brand management and market positioning although further researches are needed for more extensive insights. |
| URL Website | https://scholar.utcc.ac.th |
| Website title | UTCC Scholar |
