Advances in Economics, Management and Political Sciences
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Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
Series Vol. 53 , 01 December 2023
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A New Angle to Ease Consumers’ Pain of Large Consumption - Based on a Comparative Case Study of NIO
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Abstract
Compared to the former essays, this essay proposes a new perspective on the existing theory of the pain of paying, which refers to the unpleasant emotional experience generated during the payment process that may affect consumer purchasing behavior since the economic and cultural trends have changed in recent years. The paper uses a comparative case study method with NIO, an innovative electric vehicle company in China, as the main case and traditional fuel vehicle companies (BMW Brilliance) as the auxiliary case, accompanied by field investigations, interviews, and secondary data analysis. Analyzing the existing literature review, market marketing problems of traditional fuel vehicle brands, market marketing innovation of NIO, and comparison between the two, the study aims to provide future trends and enlightenment at the end of the article, which is that extending service duration, improving service quality, and building a sense of community belonging do help NIO’s customers reduce the pain of paying and can be the new future perspectives.
Keywords
pain of paying, customer behavior, large payment, electric vehicle, NIO
References
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Data Availability
The datasets used and/or analyzed during the current study will be available from the authors upon reasonable request.
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- Volume Title
- Proceedings of the 2nd International Conference on Financial Technology and Business Analysis
- ISBN (Print)
- 978-1-83558-153-7
- ISBN (Online)
- 978-1-83558-154-4
- Published Date
- 01 December 2023
- Series
- Advances in Economics, Management and Political Sciences
- ISSN (Print)
- 2754-1169
- ISSN (Online)
- 2754-1177
- DOI
- 10.54254/2754-1169/53/20230798
- Copyright
- 01 December 2023
- Open Access
- This article is an open access article distributed under the terms and conditions of the Creative Commons Attribution (CC BY) license, which permits unrestricted use, distribution, and reproduction in any medium, provided the original work is properly cited