IMPACT OF ONLINE PROMOTIONAL TECHNIQUES ON ONLINE IMPULSE BUYING BEHAVIOR: STRATEGIES AND INNOVATIONS FOR CONSUMER PRODUCTS THROUGH OCEAN MODEL
Keywords:Big five personality traits, Innovations, Impulse buying behavior, Online commerce, Limited time Scarcity,, Limited quantity scarcity,, Discounted price
In current era trends of shopping are being changed towards online modes of shopping instead of the conventional ways of shopping. Conventional methods of measuring customers satisfaction for consumer products lags due to conformist techniques adapted by the marketing organizations. The underlying study rejects the orthodox techniques and focusses on online promotional trends in a strategic way by introducing innovations for consumer products by utilizing OCEAN model. In routine, the organizations introduce the innovations by focusing on the products and in its design. This study uniquely engrossed on online promotional techniques which can be utilized a strategic as well as innovative weapon to persuade the impulse buying behavior. Three school of thoughts exist about factors stimulate impulse buying (Traits school of thought, motives school of thought and marketing stimuli school of thought). Companies use different ways to attract consumers towards online impulsive shopping. Companies use discounted price, limited quantity, and limited time to attract customer for impulse buying. The purpose of this study is to find out the moderation effect of personality traits within the connection of the effect of scarcity message and discounted price on impulse buying behavior separately. The present research is contained on survey-based data collection technique. Targeted population is university staff of all universities working in territory of district Vehari and data is collected form 300 respondents through stratified random sampling technique. PLS-SEM in smart PLS 3.3 used for data analysis. The results suggest that independent variables scarcity message and discounted price have positive effect on online impulse buying behavior and found to be effective as strategic and innovative tools. Moderation effect of five personality traits was also found significant through OCEAN model. In a nutshell, the online promotional techniques for impulse buying behavior proved to be operative and can be exploited as an innovation instrument for upcoming era of consumer realm.
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