An Empirical Model of PrePurchase Intention Antecedents of Electric Vehicles

Abstract

The proposed model of pre-purchase intention draws on three primary literature domains: the cost-benefit framework (economics), psychology (risk), and utilitarian theory (technology). The cost-benefit framework serves as the foundation for any purchase decision, making it the starting point of this study. This framework is employed to validate hypotheses regarding electric vehicle purchases in India. The literature posits that purchase intention persists as long as the perceived marginal benefit exceeds the expected marginal cost, continuing until a threshold level of utility is reached. quotPerceived riskquot in product purchases is suggested to positively influence both technological and economic utility. Technological factors enhance purchase intention, while economic principles, such as costs, act as constraints. The perceived risk associated with electric vehicle purchases also plays a significant role in shaping purchase intention. Consumers evaluate information to compare products from established internal combustion engine technology with technologically advanced electric vehicles. Purchase intention is directly influenced by the technology involved. Urban consumers are expected to show a stronger preference for electric vehicles due to factors such as price diffusion and efficiency. It is proposed that incentives and driving range affect cost factors, aligning with the Economics of Information theory, which examines the relationship between cost and utility. This model analyzes the impact of these factors on overall purchase intention and its associated cost benefits. newlineWe propose to investigate the significant differences between consumer search strategies for internal combustion engine (ICE) vehicles and electric vehicles within VII newline newlinethe context of consumer durables. This research aims to address consumer purchase intentions and behaviors by applying relevant theories and techniques to identify, analyze, and resolve marketing challenges in emerging markets. A pilot study was conducted to develop reliable mul