A Study On The Perceived Value Of GMF And Its Influence On Consumers’ Purchase Intention

With the rapid development of transgenic technology and its industrialization, Genetically Modified Food (GMF) is getting more and more involved into the consumer food chain. At the same time, the risks of GMF have aroused much public concern, and thus affect the consumers’perception and purchasing behavior towards GMF, which will in turn influence the development of GMF. Therefore, it is worthwhile to study consumers purchase intention from the point of view of perceived risks and perceived value. By exploring the underlying causes affecting consumers purchase intention, this study is intended to help the government and enterprises to make specific decisions, guide consumers to form scientific knowledge and rational consumption awareness and promote the sustainable development of GMF.Based on the theory of perceived value and the data collected from432consumers in Wuhan, this paper constructs the theoretical model that how consumers’perceived value influences consumers purchase intention towards GMF. Through questionnaires Wuhan consumers basic understanding of GMF is clearly investigated; consumers’ awareness of GMF, perceived risks, perceived benefits and purchase intention are stated in detail. Furthermore, this paper explores the dimensions of consumers’perceived risks and perceived benefits of GMF by using factor analysis, and analyses in depth the impact of the different dimensions on consumers purchase intention. Combining methods of qualitative analysis and quantitative analysis, the paper studies how the perceived value calculated based on the consumer’s attitude to risk affects consumers purchase intention to GMF. The results are as follows:1. Lots of consumers in Wuhan have ever heard GMF, but they lack actual knowledge about GMF. The purchase intention to GMF is not high, but consumers’perceived risks level is high, whereas the level of consumers’perceived benefits and perceived value is low.2. Consumers’ perceived risks of GMF can be divided into four dimensions, namely health risk, environmental risk, social economic risk and product performance risk, among which, the first three have a significant negative impact on consumers purchase intention; while consumers’perceived benefits have significant positive impact on consumers purchase intention.3. Consumers’ perceived value influences their purchase intention to GMF more prominently. The more perceived value they have, the more they like to buy GMF. This study breaks the past research angle of GMF and explores the consumers purchase intention from the perspective of perceived value. Meanwhile as the risk attitude is incorporated into the model, consumers’perceived value is calculated more accurately, thus the impact of consumers’perceived value on purchase intention is more convincing. In a word, the theme and method are innovative and exploratory.