Factors Influencing Green Purchase Behavior: Price Sensitivity, Perceived Risk, and Attitude towards Green Products

Authors

  • Alireza Sheikh
  • Mahdi Mirzaei Department of Management, Science and Technology Amirkabir University of Technology (Tehran Polytechnic), Tehran, Iran
  • Bahareh Ahmadinejad

DOI:

https://doi.org/10.7903/cmr.22824

Keywords:

Green marketing, consumer behavior, Consumer attitude, Price sensitivity, Perceived risk, Purchase intention, Green purchase

Abstract

The present study analyzes the effectiveness of consumer price sensitivity in expanding the use of green products. It investigates how the purchase behavior of Iranian consumers is affected by different aspects of perceived risk, such as financial, performance, psychological, and social risks. This study uses the four main concepts of ‘Perceived Risk’ (PR), ‘Attitude towards Green Products’ (AGP), ‘Price Sensitivity’ (PS), and ‘Green Purchase Behavior’(GPB) to develop a model to increase green purchase intention. This research uses an experimental study, using a survey method (questionnaire distribution)to confirm the hypotheses and discover its management concepts, and uses Structural Equation Modeling (SEM). The results show that the variable of “Perceived Risk” has a positive effect on “Attitude towards Green Products” and “Price Sensitivity”. “Attitude towards Green Products” has a positive effect on “green purchasing behavior” while “Price Sensitivity” has a negative effect on “green purchasing behavior”. This study focuses on existing literature by providing experimental evidence showing the importance of green consumption in the Iranian industry. The present model provides valuable input to policymakers and marketers to work from the perspective of policies and green marketing strategies and the research framework of purchasing green products to preserve the environment and the prevalence of green consumption among consumers.

Author Biographies

Alireza Sheikh

Dr. Alireza Sheikh received his BSc and MSc in Industrial Engineering from Khajeh Naseer Toosi University of Technology and Tarbiat Modarres University, respectively. He obtained his PhD from the University of Leicester Business School. He has since served as the Assistant Professor and Head of Business Management group at School of Management, Science and Technology at Amirkabir University of Technology. His practical and research interests are inclusive of, but not limited to, Data-Driven Management, Performance Marketing, Business Analytics and Intelligence. He has published several articles in outstanding international journals.

Mahdi Mirzaei, Department of Management, Science and Technology Amirkabir University of Technology (Tehran Polytechnic), Tehran, Iran

Mahdi Mirzaei  (Corresponding author), after gaining experience in the systems and methods of financial institutions, is currently a specialist in supervising the affairs of financial institutions at the Securities and Exchange Organization of Iran (SEO). He graduated from Isfahan University of Technology (IUT) with a bachelor’s degree in Industrial Engineering. After that, he graduated from Amirkabir University of Technology (AUT) with excellent grades in the field of Master of Business Administration (MBA) with a major in finance. Meanwhile, his thesis on the relationship between financial issues and consumer behavior was defended in the best way. The subject has always interested him, and he has researched and studied in this regard.

Bahareh Ahmadinejad

Bahareh Ahmadinejad is currently a researcher at health systems engineering research center, Milad Hospital, Tehran, Iran. She received her Master of Business Administration from Islamic Azad University Qazvin Branch. She has ten years of research experience, with over 20 research articles published in various national and international journals. Her research interests include consumer behavior, health management, psychology, and social media.

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Published

2023-10-10

How to Cite

Sheikh, A., Mirzaei, M., & Ahmadinejad, B. (2023). Factors Influencing Green Purchase Behavior: Price Sensitivity, Perceived Risk, and Attitude towards Green Products. Contemporary Management Research, 19(3), 153–174. https://doi.org/10.7903/cmr.22824

Issue

Vol. 19 No. 3 (2023)

Section

Marketing