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    Consumer Decision-making Styles:

    Comparison Between

    Shanghai and Hong KongUniversity Consumers

    A Consumer Styles Inventory Approach

    BY

    Chan Hoi Yee, Bertha02005174

    China Business Studies Option

    A H D P j t S b itt d t th

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    A H D P j t S b itt d t th

    Acknowledgements

    I would like to give my heartiest thanks to my supervisor Dr. Shi Yi Zheng who has

    sacrificed a lot of his valuable time for guiding me in doing this honor project,

    suggesting precious advice, pointing out and correcting my mistakes. He is very

    patient in answering and explaining my questions all the time. I really have learnt a lot

    from him.

    In addition, I would like to express my sincere thanks to my dearest friends, Mr. Peter

    Wong and Miss Susanna Wong, for squeezing lots of time for helping me in

    conducting survey.

    Also, I would like to thank my family and friends who always gave me support and

    encouraged me when I feel depressed in doing the project.

    Last but not least, I would like to thank all the teachers in the Hong Kong Baptist

    University who teach me a lot about marketing knowledge in the past three years.

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    Abstract

    Consumers use a variety of decision-making styles. This study investigates

    decision-making styles of consumers in Shanghai and Hong Kong by analyzing the

    Consumer Style Inventory (CSI), which is administered to 150 Shanghai and Hong

    Kong university consumers respectively. Factor analysis is adopted to develop the

    CSI inventories.

    Findings indicate that six types of decision-making styles and fifteen statements are

    valid and reliable in Shanghai, whereas five types of decision-making styles and

    twenty statements are valid and reliable in Hong Kong. Significant differences can be

    found in the dimension of quality conscious, brand conscious, fashion conscious and

    shopping carefulness. Business implications, which address the above findings, are

    provided for marketers in the following section. Limitations of this paper are the final

    chapter.

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    Table of Contents

    Content Page

    Acknowledgements ii

    Abstract iii

    Chapter 1. Introduction1.1 Background Information 11.2 Research Problem Development

    1.2.1 Why Shanghai vs. Hong Kong? 11.2.2 Why University Students? 2

    1.3 Research Objectives 3

    Chapter 2. Literature Review2.1 Historical Researches on Decision-making Styles 42.2 The Consumer Style Inventory (CSI) 4

    2.3 Application of CSI Across Cultures 6

    Chapter 3. Research Methodology3.1 The Sample 73.2 Instrument 73.3 Data Collection Method 83.4 Data Analysis Method 8

    Chapter 4. Hypothesis Development4.1 Differences in Brand Consciousness and Price Consciousness 104.2 Differences in Fashion Consciousness and Confusion by

    Overchoice11

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    Chapter 7. Limitations7.1 Generality of Consumer Characteristics 287.2 Limitation of the Sample 287.3 Limitation of Culture and Economic Background 29

    Chapter 8. Conclusion 30

    Chapter 9. References 31

    Chapter 10. Appendix 3510.1 Explanation of the eight factors loading by Sproles and Kendall 36

    10.2 Tables 3810.3 Questionnaires 4710.4 SPSS Outputs 58

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    Chapter 1. Introduction

    1.1 Background Information

    Decision-making is more complex and even more important for consumers today than

    in the past. Consumers are besieged by advertising, news articles, and direct mailings

    that provide an abundance of information, much of it with mixed messages. In

    addition, increases in the number and variety of goods, stores, and shopping malls,

    and the availability of multi-component products and electronic purchasing

    capabilities have broadened the sphere for the consumer choice and have complicated

    decision making [Hafstrom, Chae, and Chung, 1992].

    Profiling consumers decision-making styles focuses on studies of the majority of

    consumer interest (eg, Bettman, 1979; Sproles, 1985; Thorelli, Becker, and Engeldow

    1975; WestBrook and Black, 1985). Consumer affairs specialists use such profiles to

    understand consumers shopping behaviour, while advertisers and marketing

    researchers use them to segment the consumers into various niches for product

    i i i [S i i d A d 1993]

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    colonization for a long time. Culturally, both cities have shared modern and traditional

    characterizations. They both are international metropolises that have much

    international links. However, there are something different. For example, number of

    brothers and sisters, source of income, source of information and culture.

    Comparing between these two cities can help companies formulating marketing

    strategies. For those companies who have only invested in Hong Kong and have

    interest to enter into the Shanghai market, they can study the difference and

    similarities between these two cities and then formulate an entering strategy for

    Shanghai based on the existing marketing strategy for Hong Kong, and vice versa.

    1.2.2 Why University Students?

    The university students market is quite large. According to the statistics, there are

    189,400 university students in Hong Kong in 2004, amounting about 11.5% of the

    educational population [Hong Kong Census and Statistics Department, 2004]. And

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    people acquire skills, knowledge, and attitudes relevant to their functioning as

    consumers in the marketplace [Ward, 1972]. Socialization usually takes place within

    the family and may shape consumer patterns. In this way, it may affect not only

    present but also future consumer well-being.

    1.2 Research Objectives

    Although the CSI research is widely conducted in different nations, few of it is related

    to Chinese society, related to the comparison between Hong Kong and Shanghai, and

    focused on universities students.

    There are three main objectives in this paper:

    1. To investigate the decision-making style of Shanghai universities consumers by

    purifying the items of CSI.

    2. To investigate the decision-making style of Hong Kong universities consumers

    b if i h i f

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    Chapter 2. Literature Review

    2.1 Historical Researches on Decision-making Styles

    Consumer-interest researchers have long been interested in identifying the underlying

    decision styles of shoppers. For example, consumers are identified as economic

    shoppers, personalizing shoppers, ethical shoppers, apathetic shoppers [Bellenger and

    korgaonkar, 1980; Darden and Reynolds, 1971; Stone, 1954], store-loyal shoppers

    [Moschis and Gorge, 1976; Stephenson and Willett, 1969], recreational shoppers

    [Bellenger and Korgaonkar, 1980; Stephenson and Willett, 1969], convenience

    shoppers [Korgaonkar, 1984; Stephenson and Willett, 1969; Williams et al., 1978],

    price-oriented shoppers [Korgaonkar, 1984; Stephenson and Willett, 1969; Williams

    et al. 1978], brand-loyal shoppers [Jocoby and Chestnut, 1978; Moschis and Gorge,

    1976], name-conscious shoppers [Darden and Ashton, 1974-75], fashion shoppers

    [Lumpkin, 1985], brand conscious shoppers [Korgaonkar, 1984] and impulse

    shoppers [Gehrt and Cater, 1992]. These classifications have provided a number of

    measuring methods for the marketers to segment the general public in the consumer

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    consumer choices. Broadly speaking, there are three types of approaches in studying

    consumer decision-making styles: the psychographic/lifestyle approach, which

    identifies hundreds of characteristics related to consumer behavior; the consumer

    typology approach, which classifies consumers into several types; and the consumer

    characteristics approach, which focuses on different cognitive dimensions of

    consumer decision-making. For a review of these different approaches, see Sproles

    and Kendall [1986].

    Building on the literature related to consumer decision-making in the field of

    marketing and consumer studies [Maynes, 1976; Miller, 1981; Sproles, 1979; Thorelli,

    Becker and Engledow, 1975], Sproles [1985] identified nine decision-making style

    traits and developed a 50-item instrument using the consumer characteristics approach.

    Using data collected from 111 undergraduate women in two classes at the University

    of Arizona and employing a factor analysis technique, Sproles [1985] found that six

    out of the nine traits were confirmed to be present.

    In a later study, Sproles and Kendall [1986] used a similar approach with a slightly

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    1. Perfectionistic and high-quality conscious consumer,

    2. Brand conscious and price equals quality consumer,

    3. Novelty and fashion-conscious consumer,

    4. Recreational and hedonistic consumer,

    5. Price conscious and value for money consumer,

    6. Impulsive and careless consumer,

    7. Confused by over-choice consumer, and

    8. Habitual and brand-loyal consumer.

    Appendix 10.1 (page 35) shows the explanations of the eight factors loading by

    Sproles and Kendall. It is a pretty good benchmark for us to explain our data analysis

    result.

    2.3 Application of CSI Across Cultures

    The applicability of the CSI has been investigated across several cultures [Alice and

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    Chapter 3. Research Methodology

    3.1 The Sample

    The sample size is 300, 150 of Shanghai undergraduate students and 150 for Hong

    Kong undergraduate students.

    3.2 Instrument

    A questionnaire based on the exploratory studies of Sproles [1985] and Sproles and

    Kendall [1986] was used to measure consumer decision-making styles in Hong Kong

    and Shanghai. The questionnaire was translated into Chinese. Some mainland Chinese

    and Hong Kong students and professors reviewed the translations. This ensured that

    idiomatic or colloquialistic wording was minimized [Douglas and Craig, 1983;

    Parameswaran and Yaprak, 1987].

    The questionnaire is divided into two parts. The first part contains the forty

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    3.3 Data Collection Method

    A non-probability sampling survey method is conducted in the universities in Hong

    Kong and Shanghai during March 2005. I did the survey in Hong Kong by myself.

    The survey in Shanghai universities were done by my relatives who live in Shanghai,

    as it is prohibited for the non-Chinese residents to conduct survey without

    authorization by the local government and due to the huge transportation fee occurred.

    3.4 Data Analysis Method

    SPSS was used to analyze the data collected.

    Firstly, frequency was used to display the distribution of consumers demographic

    background and personal information.

    Secondary, CSI for Hong Kong and Shanghai will be developed in two steps

    following the method used by Sproles [1985] and Sproles and Kendell [1986].

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    and Kendall [1986].

    Thirdly, comparison between Shanghai and Hong Kong was done by comparing the

    CSI and by calculating the T-Test (by taking the mean score for each of the factor of

    CSI).

    The negatively worded items had been reversed before the data analysis proceeded, in

    order to analyze the data easily. The scores of question 5, 7, 20, 22, 24, 31, 32 and 40

    had been reversed.

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    Chapter 4. Hypothesis Development

    We expect that Shanghai and Hong Kong university consumers will differ in terms of

    brand consciousness, fashion consciousness, price consciousness and confusion by

    overchoice, based on the explanations as follows.

    4.1 Differences in Brand Consciousness and Price Consciousness

    Since the late 1970s, one-child-per-couple campaign was taken to curtail the

    population explosion. As Chinese per capita income has risen and fertility declined,

    Chinese parents' love and money have focused on a single child, resulting in unique

    social and economic implications such as the perilous 4-2-1 indulgence: four

    grandparents and two parents indulging one child. Many of these children are

    self-centered and demand material luxuries from their parents [Baker 1987]. While in

    Hong Kong, government did not practice One Child Policy. Many families had two

    to four children in the 1980s [The International Encyclopedia of Sexuality: Hong

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    H1: Shanghai university consumers are more brand consciousness than Hong

    Kong university consumers.

    H2: Hong Kong university consumers are more price consciousness than

    Shanghai university consumers.

    4.2 Differences in Fashion Consciousness and Confusion by Overchoice

    Hong Kong was a British colony for over 150 years (1842-1997). Citizens were

    educated to apprehend Western values. Hong Kong people have long been exposed to,

    and fast to learn from, Western culture [Alex, Guijun, Fuan, Nan, 2003]. Nowadays,

    Hong Kong people are accustomed to, and want to continue, this lifestyle: Their

    aversion to the return of sovereignty to China reflected a fear of lifestyle discontinuity

    [Lau and Kuan, 1989]

    China adopted an open door policy in 1979; however, the country is not fully open to

    l d h hi i d d ill i h

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    1996]. When the movie Titanic broke the box-office records across Chinese cities in

    1997, Chinese officials expressed their concerned that Western movies could be a

    Trojan horse aimed at speeding up the American cultural invasion of China [Platt,

    1998].

    As Hong Kong universities consumers always and easily come into contact with

    information than Shanghai, and Hong Kong has a longer history involvement of

    Western values, we expect that university consumers in Hong Kong are more fashion

    conscious and more confused by overchoice than Shanghai university consumers.

    H3: Hong Kong university consumers are more fashion consciousness than

    Shanghai university consumers.

    H4: Hong Kong university consumers are more confused by over choice than

    Shanghai university consumers.

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    Chapter 5. Research Findings and Analysis

    5.1 Personal Information of the 300 samples from Shanghai and Hong Kong

    5.1.1 Shanghai

    Among the 150 university student respondents in Shanghai, 44% (66) were male and

    56% (84) were female. Most of the respondents have no sibling (125, 83.3%), few

    respondents have two to three siblings (25, 16.7%), while no respondents have more

    than three siblings. A majority of them viewed parents as their only income source

    (111, 74%), while few of them had multiple income sources (39, 26%). Over one-third

    of them paid 1001-1500 as their cost of living (52, 34.7%); then 501-

    1000 (48, 32%); 500 (26, 17.3%); and 1501 (24, 16%). Finally,

    overwhelming of them viewed television (125, 83.3%), Internet (119, 79.3%),

    magazine (113, 75.3%) and family and friends (96, 64%) as their information source.

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    (114, 76%), Internet (103, 68.7%), magazine (102, 68%) and newspaper (96, 64%) as

    their information source.

    ---------------------------------------------------------------------------------------------

    Table 1: Personal Information of the 300 samplesfrom Shanghai and Hong Kong (Page 39)

    ---------------------------------------------------------------------------------------------

    5.1.3 Comparison

    Comparing the characteristics of the two sets of respondents in Hong Kong and

    Shanghai, there were some similarities and differences identified.

    Similarities

    1. The cost of living in Hong Kong and Shanghai are very similar.

    2. The information source in Hong Kong and Shanghai are very similar.

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    5.2 Decision-making styles of Shanghai university consumers

    The 40 items of the consumer decision-making scales of Shanghai were subjected to

    principal components analysis (PCA) using SPSS. Prior to performing PCA the

    suitability of data for factor analysis was assessed. Inspection of the correlation matrix

    revealed the presence of many coefficients of 0.3 and above. The Kaiser-Meyer-Oklin

    value was 0.608 [Kaiser, 1970, 1974] and the Barletts Test of Sphericity [Bartlett,

    1954] reached statistical significance, supporting the factorability of the correlation

    matrix.

    Principal components analysis revealed the presence of 12 components with

    eigenvalues exceeding 1, explaining 15.113%, 12.663%, 8.073%, 6.216%, 5.901%,

    5.401%, 4.747%, 3.783%, 3.310%, 3.055%, 2.853% and 2.686% of the variance

    respectively. An inspection of the screeplot revealed a clear break after the six

    components. Using Catells [1996] scree test, it was decided to retain six components,

    Varimax rotation was performed. The cross-loading items and items that had a factor

    loading value less than 0.4 were removed. The rotated solution (presented in

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    The interpretation of the six components was consistent with previous research on the

    CSI, with Novelty-fashion consciousness items loading strongly on Component 1,

    Perfectionistic and high-quality consciousness items loading strongly on Component

    2, Habitual and brand-loyal consumer orientation items loading strongly on

    Component 3, Impulsive and careless consumer orientation items loading strongly

    on Component 4, Price consciousness and value for money orientation items

    loading strongly on Component 5 and Brand consciousness and price equals

    quality items loading strongly on Component 6. The results of this analysis support

    the use of CSI as separate scales.

    ---------------------------------------------------------------------------------------------

    Table 2: Factor Loadings and Construct Reliability of Shanghai CSI (Page 41)

    ---------------------------------------------------------------------------------------------

    5.3 Decision-marking styles of Hong Kong university consumers

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    eigenvalues exceeding 1, explaining 4.902%, 3.565%, 2.931%, 2.367%, 1.967%,

    1.568%, 1.491%, 1.332%, 1.281%, 1.241%, 1.141%, 1.130%, 1.064% and 1.015% of

    the variance respectively. An inspection of the screeplot revealed a clear break after

    the five components. Using Catells [1996] scree test, it was decided to retain five

    components, Varimax rotation was performed. The cross-loading items and items that

    had a factor loading value less than 0.4 were removed. The rotated solution (presented

    in Appendix page 107) revealed the presence of simple structure [Thurstone, 1947],

    with all components showing a number of strong loadings, and all variables loading

    substantially on only one component. The five factor solution explained a total of

    53.140% of the variance, with the five components contributing 13.82%, 10.98%,

    10.22%, 10.10% and 7.99% respectively.

    The interpretation of the five components was consistent with previous research on

    the CSI, withBrand consciousness and price equals quality items loading strongly

    on Component 1, Perfectionistic and high-quality consciousness items loading

    strongly on Component 2, Novelty-fashion consciousness items loading strongly on

    C 3 H bit l d b d l l i t ti it l di

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    5.4 Comparison of decision-making styles between Shanghai and Hong Kong

    universities consumers

    5.4.1 Number of Dimensions

    The identified dimensions of CSI are very similar for university consumers in

    Shanghai and Hong Kong. Shanghai has six and Hong Kong has five dimensions.

    With the same dimensions: (1) fashion conscious, (2) high-quality conscious, (3)

    brand-loyal, (4) price conscious, and (5) brand conscious. The dimension of

    Impulsive and careless was found only in Shanghai CSI.

    There is no cross-loading item between Shanghai and Hong Kong CSI. So, the results

    support the use of CSI as separate scales.

    Impulsiveness is not identified as a dimension of consumer decision-making styles

    for the Hong Kong university consumers. The reasons are as follows.

    Impulsive shopping is opposite to habitual shopping [Fan and Xiao, 1998], in order to

    fi d h h h i h h di i f i l i hil d

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    did not load significantly on any factor for the Hong Kong sample. This may be

    caused by differences in the interpretation of the question asked in different languages.

    However, it is also possible that Shanghai university consumers are loyal to some

    brands but at the same time, they are still facing confusion because there are still

    many new brands invading into their minds every day. As noted earlier, as more and

    more consumer products are becoming available in Shanghai, Shanghai university

    students may feel confused and have to try these new brands in a certain extent.

    While in Hong Kong, many brands are already in the consumers minds, they do not

    have to try, so Hong Kong university consumers are less impulsive.

    There is still one reason of why Shanghai has the dimension of impulsiveness while

    Hong Kong does not. Impulsive purchases may be interpreted as I have not

    gathered enough information for this product before I purchase in Chinese [Fan and

    Xiao, 1998]. China has many counterfeit products. How to differentiate and avoid

    buying counterfeit products is one of the most salient consumer issues in China. Many

    famous brands, both domestic and foreign, are being counterfeited and sold in the

    k d h f i d ll f li h hi h i

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    5.4.2 Item Loadings

    The items loading on each dimension are quite similar, although not exactly the same.

    Now, lets take a look of the dimensions while includes more differentiation between

    Shanghai and Hong Kong. They are brand conscious and fashion conscious.

    Firstly, lets take a look in the brand conscious dimension.

    ---------------------------------------------------------------------------------------------

    Table 5: Comparison of Brand conscious and price equals quality consumerdimension of Shanghai and Hong Kong (Page 44)

    ---------------------------------------------------------------------------------------------

    Only Question 14 loaded the same in both places, while Question 11, 12, 13 and 35

    only loaded on Hong Kong but did not load significantly on any factor for the

    Shanghai sample. As suggested by Fan and Xiao [1998], national brands may be

    treated as a quality product, and the newly imported brands will be treated as

    brand-named product by Chinese consumers. We did not consider this concept when

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    Only Question 15 loaded the same in both places, while Question 16 and 21 only

    loaded on Shanghai but not on Hong Kong, and Question 18, 20 and 22 loaded on

    Hong Kong but not in Shanghai. It seems very different, however, it is not. Items 20,

    21 and 22 have loaded on the recreational and hedonistic conscious dimension in

    Sproles and Kendalls research [1986]. Sproles and Kendall also found their

    fashion-consciousness factor was significantly correlated with recreational

    consciousness factor. This correlation is quite intuitive because for most consumers to

    be fashion conscious, they have to spend time paying attention to changing fashions

    [Fan and Xiao, 1998]. To conclude, although the items loaded in Shanghai are

    different from Hong Kong, the nature of the items are similar.

    5.4.3 T-test: Test of Hypotheses

    Independent-sample t-test was conducted to compare the CSI scores for Shanghai and

    Hong Kong university consumers, six t-tests instead of only four mentioned in the

    H h i D l f d i d di f ll i f

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    T-Test 1: Brand conscious and price equals quality consumer

    There was significant difference in scores for Shanghai (M =2.3933, SD =0.75881)

    and Hong Kong (M =2.8813, SD =0.63799; t(289.46) =-6.029, p =0.00) university

    consumers. The magnitude of the differences in the means was large (eta squared

    =0.11).

    Hong Kong university consumers are more brand conscious than Shanghai. It is

    different from what we expected (H1: Shanghai university consumers are more

    brand consciousness than Hong Kong university consumers). One possible reason is

    the different exposure to brand names. As noted before, Hong Kong is more open to

    foreign cultures and brands. The more brands they know the more chance they would

    become brand conscious. Furthermore, although the Shanghai university consumers

    are indulged by their parents, it is not necessary that they will become brand

    conscious.

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    would not consider too much about brands. In addition, according to Oliver [1994],

    consumers in China always focus on durability when shopping, so Shanghai

    university consumers focus on quality in their shopping.

    T-Test 3: Novelty and fashion-conscious consumer

    There was significant difference in scores for Shanghai (M =3.0156, SD =0.89521)

    and Hong Kong (M =3.4333, SD =0.65517; t(273.03) =-4.612, p =0.00) university

    consumers. The magnitude of the differences in the means was moderate (eta squared

    =0.07).

    Hong Kong university consumers are more fashion conscious than the Shanghai. This

    result is the same as we expected (H3: Hong Kong university consumers are more

    fashion consciousness than Shanghai university consumers).

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    T-Test 5: Price conscious and value for money consumer

    There was no significant difference in scores for Shanghai (M =3.6000, SD =0.81306)

    and Hong Kong (M =3.5689, SD =0.71476; t(298) =-1.290, p =0.725) university

    consumers. The magnitude of the differences in the means was small (eta squared

    =0.00).

    We expect that Hong Kong university consumers are more price consciousness than

    Shanghai university consumers (H2), but this is not the case, there are no differences

    between them, and both of them are quite price conscious. According to Oliver [1994],

    consumers in China are still encouraging frugality, many of them still have the mind

    that To practice thrift is a virtue (). This may be one of the reasons that

    Shanghai university consumers are as price conscious as the Hong Kong students.

    T-Test 6: Impulsive and careless consumer

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    We also expect that Hong Kong university consumers are more confused by over

    choice than Shanghai university consumers (H4), however, from the result of factor

    analysis, the confused dimension is even not appear in both places. It shows that

    university consumers in Shanghai and Hong Kong can take advantage of the available

    information and make better choices [Fan and Xiao, 1998]. It may be because both of

    them are highly educated and have certain judgment of the markets, so they can utilize

    the information, regardless of the information received.

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    Chapter 6. Business Implications

    6.1 For Shanghai

    Shanghai university consumers are perfectionistic and impulsive. They always make

    special effort to obtain the best quality and perfect choice; however, there are too

    many counterfeit products that make them feel regretted after the purchase. Marketers

    should stress on improving the overall attributes of the products so that the quality of

    product could match the requirement of consumers. Overall quality of product can be

    divided into two items: extrinsic and intrinsic [Olson and Jacoby, 1972; Jonansson,

    1989; Gabbot, 1991]. Extrinsic attributes refer to the brand, country of origin,

    advertising, independent consumer, price, after sell services, and distribution channel.

    Intrinsic attributes refer to physical product attributes such as shape, type of surface,

    color, weight, material used, taste and performance. Using good quality as an

    outstanding and clear image would catch the attention of the consumers. Better

    customer services should also be provided. As the consumers are still in the stage of

    impulsive purchasing, they are still trying each product, offering them a good product

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    6.2 For Hong Kong

    Hong Kong university consumers are brand and fashion conscious. Therefore,

    companies should try to do deep marketing researches to and build their brand once

    they enter Hong Kong market. In addition, the content and style of marketing and

    promotion programs should be fun, trendy and fashionable.

    6.3 For both Shanghai and Hong Kong

    Both Shanghai and Hong Kong university students are price conscious. Marketers

    should promote their products by offering benefits to consumers, in order to make

    them feel that their purchases are value for money.

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    Chapter 7. Limitations

    There are several limitations that warrant future research.

    7.1 Generality of Consumer Characteristics

    Consumers have different perceptions on different types of products. For example,

    their value for a luxury and durable product, which is totally different from an inferior

    and non-durable product [Kaynak,E. & Cavusgil, S.T., 1983]. We cannot assume that

    a consumer with high brand consciousness would consider name products on every

    decision. Other characteristics may lack perfect generality as well [Sproles and

    Kendall, 1986]. Indeed, a consumer may have different consumer styles for each

    product category. Therefore, future research should look at consumer decision-making

    in various product categories for details.

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    university consumers in Shanghai and Hong Kong.

    7.3 Limitation of Culture and Economic Background

    The Shanghai and Hong Kong student sample may not exhibit certain consumer

    decision-making characteristics due to the cultural reasons, for example the Man-to

    nature orientation, Man-to-himself orientation, Relational orientation, Time

    orientation and Personal-activity orientation [Oliver, 1994]. And the economic

    reasons, for example, the income of the families, should also be take into account also.

    However, the CSI used in this study provides a good starting point for further

    development of the CSI inventory in Shanghai and Hog Kong consumer context.

    More items and dimensions that are idiosyncratic to Shanghai and Hong Kong culture

    need to be developed in future studies. It would be helpful to develop more items to

    improve the psychometric properties of three dimensions; they are quality and price

    conscious.

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    Chapter 8. Conclusion

    The objectives of this study were fulfilled. Decision-making styles of university

    consumers in Shanghai and Hong Kong are classified, and several similarities and

    differences in decision-making styles were identified. The most important findings are

    that Shanghai university consumers are perfectionistic and impulsive, whereas Hong

    Kong university consumers are brand conscious and fashion conscious, and they both

    have the characteristic of price conscious. This paper provides a good starting point

    for marketers who want to enter Shanghai or Hong Kong market. Marketers should

    pay more attention in these aspects as to win consumers hearts. They should also take

    into account of the culture issues that do not cover in this paper.

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    Chapter 9. References

    Journals

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    2. Alice S.Y.HIU, Noel Y.M. Siu and Charlie C. L. Wang, and Ludwig, M.K. Chang,

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    3. Baker, Rod. (1987). "Little Emperors' born of a one-child policy." Far Eastern

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    4. Bartlett M. S. (1954) A note on the multiplying Faciors for various chi square

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    5. Bellenger, Danny N. and Pradeep K. Korgaonkar.(1980). Profiling Recreational

    Shopper. Journal of Retailing 56 (fall) 77-91

    6. Bettman, Jams R. (1979), An Information Processing Theory of Consumer

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    7. Carmins, Edward G. and Richard A. Zeller (1979), Realiablility and Validity

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    14. Gabbot, Mark (1991), The Role of Product Cues in Assessing Zrisk in

    Secondhand Markets, European Journal of Marketing, 25,9, 38-50

    15. Gehrt, Kenneth C. and Kent Carter. (1992). An Explortory Assessment Catalog

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    16. Hafstrom, Jeanne L., Chae, Jung Sook, Chung, Young Sook. (1992), Consumer

    Decision-Making Styles: Comparsion Between United States and Korean Young

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    17. Hong Kong Trade Development Council (2001), The two cities: Shanghai, Hong

    Kong / Research Department, Hong Kong: The Council.

    18. Jacoby, Jacob and Robert W. Chestnut. (1978) Brand Loyalty: Measurement and

    Management, New York: John Wiley and Sons.

    19. Johansson, Johny K. (1989), Determinants andEfects of the Use of Made in

    Labels, International Marketing Review, 6,1, pp 47-58

    20. Kaiser (1970), A second generation Little Jiffy. Psychometrika, 35, 401-415

    21. Kaynak,E. & Cavusgil, S.T. (1983).Consumer attitudes towards products of

    foreign origin: do they vary across product classes? International Journal of

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    22. Kim, Jae-On and Charles W.Mueller (1978), Introduction to Factor Analysis:

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    New York: West Publishing Company.

    29. Moschis, George P. (1976), Shopping orientations and Consumer Uses of

    Information. Journal of Retailing, 52(Summer): 61-70,93

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    32. Oliver H. M. Yau (1994) Consumer Behaviour in China Customer satisfaction and

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    35. Shanghai Statistical Yearbook, (2004)

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    Adolescents: An Exploratory Study of Their Approach to Shopping, Journal of

    Retailing, 72,3:307-324

    37. Sproles, George B (1985), From Perfectionism to Fadism: Measuring Consumers

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    42. Stone, Gregory. P. (1954) City Shoppers and Urban Identification: Obervations

    on the Social Psychology of City Life., American Jounral of Sociology, 60:36-45

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    Seekers; An International Study of Consumer Information and Advertising Image,

    Cambridgek,MA: Ballinger.

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    Seekers; An International Study of Consumer Information and Advertising Image,

    Cambridgek,MA: Ballinger.

    45. Thurstone, L. L. (1947) Multiple factor analysis. Chicago: University of Chicago

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    46. Turk James L. and Norman W. Bell, (1972) measuring Power in the Family,

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    Shopper Typology, The Journal of Retailing, 61(Spring): 78-103

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    Websites

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    Chapter 10. Appendix

    Appendix Page

    10.1Explanation of the eight factors loading by Sproles and Kendall 36

    10.2Tables 38

    10.3

    Questionnaires 47

    10.4SPSS Outputs 58

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    10.1 Explanation of the eight factors loading by Sproles and Kendall

    Factor 1: Perfectionistic and high-quality consciousness

    Items loading on this factor measure a consumers search for the best quality in

    products. Those consumers who have higher perfectionism could also be expected to

    shop more carefully and systematically. They are not satisfied with the good enough

    product.

    Factor 2: Brand consciousness and price equals quality

    It measures consumers orientations toward buying the more expensive, well-known

    national brands. High scorers are likely to believe that a higher price means better

    quality. They appear to have positive attitudes toward department and specialty stores,

    where brand names and higher prices are prevalent. They also appear to prefer best

    selling, advertised brands.

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    10.2 Tables

    Table Page

    Table 1Personal Information of the 300 samples from Shanghai and Hong Kong 39

    Table 2Factor Loadings and Construct Reliability of Shanghai CSI 41

    Table 3

    Factor Loadings and Construct Reliability of Hong Kong CSI 42

    Table 4Comparison of Habitual and brand-loyal consumer dimensionof Shanghai and Hong Kong

    43

    Table 5Comparison of Brand conscious and price equals quality consumer dimensionof Shanghai and Hong Kong

    44

    Table 6Comparison of Novelty and fashion-conscious consumer dimensionof Shanghai and Hong Kong

    45

    Table 7Comparison of decision-making styles between Shanghai and Hong Konguniversities consumers

    46

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    Table 1

    Personal Information of the 300 samples from Shanghai and Hong Kong

    Shanghai Hong Kong

    Frequency

    Percentage

    Frequency

    Percentage

    Male 66 44.0 56 37.3

    Female 84 56.0 94 62.7

    Gender

    Total 150 100.0 150 100.01 125 83.3 16 10.7

    2 13 8.7 52 34.7

    3 12 8.0 52 34.7

    More than 3 0 0 30 20.0

    NumberofBloodSiblings

    Total 150 100.0 150 100.0

    Parents 111 74.0 41 27.3

    Scholarship/Grant/Loan 8 5.3 6 4.0

    Part-time 3 2.0 30 20.0

    Partly Parents, partlyPart-time

    15 10.0 41 27.3

    Partly Parents, partlyScholarship/Grant/Loan

    7 4.7 9 6.0

    PartlyScholarship/Grant/Loan, partly Part-time

    3 2.0 13 8.7

    Partly Parents,Scholarship/Grant/Loan, and Part-time

    3 2.0 10 6.7

    IncomeSource

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    500 26 17.3

    $1500 42 28.0

    501-1000 48 32.0$1501-$2000 45 30.0

    1001-1500 52 34.7

    $2001-$2500 31 20.7

    1501 24 16.0

    $2501 32 21.3

    CostofLiving

    Total 150 100.0 150 100.0Television 125 83.3 127 84.7

    Radio 26 17.3 44 29.3

    Newspaper 86 57.3 96 64

    Magazine 113 75.3 102 68

    Internet 119 79.3 103 68.7

    TransportationAdvertisement

    65 43.3 64 42.7

    Exhibition 26 17.3 20 13.3Family and friends 96 64 114 76

    Others 0 0 9 6

    Inform-ationSource

    Total 656 437.1 679 452.7

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    Table 2

    Factor Loadings and Construct Reliability of Shanghai CSI

    Shanghai CSI Construct

    Reliability

    Factor

    Loading

    Novelty and fashion-conscious consumer 0.7647shcsi15 I usually have one or more outfits of the very newest style. .848shcsi16 I keep my wardrobe up-to-date with the changing fashions. .884shcsi21 Going shopping is one of the enjoyable activities of my life. .702

    Perfectionistic and high-quality conscious consumer 0.7283shcsi01 Getting very good quality is very important to me. .893shcsi02 When it comes to purchasing products, I try to get the very best orperfect choice.

    .690

    shcsi04 I make special effort to choose the very best quality products. .799Habitual and brand-loyal consumer 0.6791shcsi33 There are so many brands to choose from that often I feel confused. .774shcsi37 I have favorite brands I buy over and over. .708shcsi39 I go to the same stores each time I shop. .831

    Impulsive and careless consumer 0.6189shcsi30 Often I make careless purchases I later wish I had not. .640shcsi31 I take the time to shop carefully for best buys. .802*shcsi32 I carefully watch how much I spend. .640*

    Price conscious and value for money consumer 0.4742shcsi05 I really dont give my purchases much thought or care. .803shcsi07 I shop quickly, buying the first product or brand I find that seemsgood enough.

    .763*

    Brand conscious and price equals quality consumer -shcsi14 The most advertised brands are usually very good choices. .93

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    Table 3

    Factor Loadings and Construct Reliability of Hong Kong CSI

    Hong Kong CSI Construct

    Reliability

    Factor

    Loading

    Brand conscious and price equals quality consumer 0.7501hkcsi11 The higher the price of a product, the better its quality. .666hkcsi12 Nice department and specialty stores offer me the best products. .734hkcsi13 I prefer buying the best-selling brands. .786

    hkcsi14 The most advertised brands are usually very good choices. .764hkcsi35 The more I learn about products, the harder it seems to choose thebest.

    .53

    Perfectionistic and high-quality conscious consumer 0.6006hkcsi01 Getting very good quality is very important to me. .582hkcsi02 When it comes to purchasing products, I try to get the very best orperfect choice.

    .692

    hkcsi03 In general, I usually try to buy the best overall quality. .582hkcsi04 I make special effort to choose the very best qualit y products. .573hkcsi08 A product doesnt have to be perfect, or the best, to satisfy me. .50Novelty and fashion-conscious consumer 0.6491hkcsi15 I usually have one or more outfits of the very newest style. .675hkcsi18 To get variety, I shop different stores and choose different brands. .553hkcsi20 Shopping is not a pleasant activity to me. .786*hkcsi22 Shopping other stores wastes my time. .729*

    Habitual and brand-loyal consumer 0.7339hkcsi37 I have favorite brands I buy over and over. .797

    hkcsi38 Once I find a product or brand I like, I stick with it. .827hkcsi39 I go to the same stores each time I shop. .752Price conscious and value for money consumer 0.5055

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    Table 4

    Comparison of Habitual and brand-loyal consumer dimension of Shanghai

    and Hong Kong

    Habitual and brand-loyal consumer

    Shanghai Hong Kong

    shcsi33There are so many brands to choose from thatoften I feel confused.

    shcsi37 + hkcsi37I have favorite brands I buy over and over.

    shcsi39 + hkcsi39I go to the same stores each time I shop.

    hkcsi38Once I find a product or brand I like, I stick withit.

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    Table 5

    Comparison of Brand conscious and price equals quality consumer dimension

    of Shanghai and Hong Kong

    Brand conscious and price equals quality consumer

    Shanghai Hong Kong

    hkcsi11The higher the price of a product, the better itsquality.

    hkcsi12Nice department and specialty stores offer methe best products.

    hkcsi13I prefer buying the best-selling brands.

    shcsi14 + hkcsi14The most advertised brands are usually very good choices.

    hkcsi35

    The more I learn about products, the harder itseems to choose the best.

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    Table 6

    Comparison of Novelty and fashion-conscious consumer dimension of

    Shanghai and Hong Kong

    Novelty and fashion-conscious consumer

    Shanghai Hong Kong

    shcsi15 + hkcsi15I usually have one or more outfits of the very newest style.

    shcsi16

    I keep my wardrobe up-to-date with thechanging fashions.

    hkcsi18To get variety, I shop different stores and choosedifferent brands.

    hkcsi20Shopping is not a pleasant activity to me.

    shcsi21

    Going shopping is one of the enjoyableactivities of my life.

    hkcsi22Shopping other stores wastes my time.

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    Table 7

    Comparison of decision-making styles between Shanghai and Hong Kong

    universities consumers

    Mean Std.Deviation

    Sig.(2-tailed)

    SignificanceDifference?

    etasquared

    Effect size

    T-Test 1: Brand conscious and price equals quality consumer

    SH 2.3933 .75881

    HK 2.8813 .63799

    0.00 0.11 Large

    T-Test 2: Perfectionistic and high-quality conscious consumerSH 4.2222 .67739

    HK 3.7973 .49480

    0.00 0.11 Large

    T-Test 3: Novelty and fashion-conscious consumer

    SH 3.0156 .89521HK 3.4333 .65517

    0.00 0.07 Moderate

    T-Test 4: Habitual and brand-loyal consumer

    SH 2.9222 .82143

    HK 3.0422 .78890

    0.198 0.01 Small

    T-Test 5: Price conscious and value for money consumer

    SH 3.6000 .81306

    HK 3.5689 .71476

    0.725 0.00 Small

    T-Test 6: Impulsive and careless consumer

    SH 2.6778 .53431

    HK .0000 .00000

    0.00 0.93 Very large

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    10.3 Questionnaires

    Questionnaires Page

    Shanghai Version 48

    Hong Kong Version 53

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    ________

    5

    1

    1.

    1 2 3 4 5

    2. /

    1 2 3 4 5

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    7.

    1 2 3 4 5

    8. /

    1 2 3 4 5

    9.

    1 2 3 4 5

    10.

    1 2 3 4 5

    11.

    1 2 3 4 5

    12. /

    1 2 3 4 5

    13.

    1 2 3 4 5

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    18.

    1 2 3 4 5

    19.

    1 2 3 4 5

    20.

    1 2 3 4 5

    21.

    1 2 3 4 5

    22.

    1 2 3 4 5

    23.

    1 2 3 4 5

    24.

    1 2 3 4 5

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    29.

    1 2 3 4 5

    30.

    1 2 3 4 5

    31.

    1 2 3 4 5

    32.

    1 2 3 4 5

    33.

    1 2 3 4 5

    34.

    1 2 3 4 5

    35.

    1 2 3 4 5

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    40.

    1 2 3 4 5

    1.

    2.

    () ()1. 12. 2

    3. 34. 3

    1.

    2. //

    3.

    4.

    5. //6. //

    7. //

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    ________

    5

    1

    1.

    1 2 3 4 5

    2. /

    1 2 3 4 5

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    7.

    1 2 3 4 5

    8. /

    1 2 3 4 5

    9.

    1 2 3 4 5

    10.

    1 2 3 4 5

    11.

    1 2 3 4 5

    12. /

    1 2 3 4 5

    13.

    1 2 3 4 5

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    40.

    1 2 3 4 5

    1.

    2.

    () ()

    1. 12. 23. 3

    4. 3

    1.

    2. //

    3.

    4.

    5. //

    6. //

    7. //

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    10.4 SPSS Outputs

    SPSS Outputs Page

    10.4.1Personal Information of the 300 samples from Shanghai and Hong Kong 59

    10.4.2Decision-making styles of Shanghai university consumers 65

    10.4.3

    Cronbachs alpha Reliability method: Shanghai CSI 85

    10.4.4Decision-making styles of Hong Kong university consumers 90

    10.4.5Cronbachs alpha Reliability method: Hong Kong CSI 108

    10.4.6

    Comparison of decision-making styles between Shanghai and Hong Konguniversities consumers

    113

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    10.4.1 Personal Information of the 300 samples from Shanghai and Hong Kong

    Shanghai

    Sex (SH)

    66 22.0 44.0 44.0

    84 28.0 56.0 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    Male

    Female

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid Percent

    Cumulative

    Percent

    Number of Blood Siblings (SH)

    125 41.7 83.3 83.3

    13 4.3 8.7 92.0

    12 4.0 8.0 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    1

    2

    3

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Source of Income (SH)

    111 37.0 74.0 74.0

    8 2.7 5.3 79.3

    3 1 0 2 0 81 3

    Parents

    Scholarship/Grant/Loan

    Part-time

    ValidFrequency Percent Valid Percent

    Cumulative

    Percent

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    Cost of Living (SH)

    26 8.7 17.3 17.348 16.0 32.0 49.3

    52 17.3 34.7 84.0

    24 8.0 16.0 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    $1501

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Information Source (SH)300 100.0SystemMissing

    Frequency Percent

    Television (SH)

    25 8.3 16.7 16.7

    125 41.7 83.3 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    No

    Yes

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Radio (SH)

    124 41.3 82.7 82.7

    26 8.7 17.3 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    No

    Yes

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Newspaper (SH)C

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    Hong Kong

    Sex (HK)

    56 18.7 37.3 37.3

    94 31.3 62.7 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    Male

    Female

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Number of Blood Siblings (HK)

    16 5.3 10.7 10.7

    52 17.3 34.7 45.3

    52 17.3 34.7 80.0

    30 10.0 20.0 100.0

    150 50.0 100.0150 50.0

    300 100.0

    1

    2

    3

    >3

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Source of Income (HK)

    41 13.7 27.3 27.3

    6 2.0 4.0 31.3

    30 10.0 20.0 51.3

    41 13.7 27.3 78.7

    9 3.0 6.0 84.7

    Parents

    Scholarship/Grant/Loan

    Part-time

    Partly Parents, partlyPart-time

    Partly Parents, partlyScholarship/Grant/Loan

    Valid

    Frequency Percent Valid PercentCumulative

    Percent

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    Information Source (HK)300 100.0SystemMissing

    Frequency Percent

    Television (HK)

    23 7.7 15.3 15.3

    127 42.3 84.7 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    No

    Yes

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Radio (HK)

    106 35.3 70.7 70.7

    44 14.7 29.3 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    No

    Yes

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Newspaper (HK)

    54 18.0 36.0 36.0

    96 32.0 64.0 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    No

    Yes

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Magazine (HK)

    48 16 0 32 0 32 0NV lid

    Frequency Percent Valid PercentCumulative

    Percent

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    Transportation Advertisment (HK)

    86 28.7 57.3 57.364 21.3 42.7 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    NoYes

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Exhibition (HK)

    130 43.3 86.7 86.720 6.7 13.3 100.0

    150 50.0 100.0

    150 50.0

    300 100.0

    NoYes

    Total

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Family and friends (HK)

    36 12.0 24.0 24.0

    114 38.0 76.0 100.0150 50.0 100.0

    150 50.0

    300 100.0

    No

    YesTotal

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

    Others (HK)

    141 47.0 94.0 94.0

    9 3.0 6.0 100.0150 50.0 100.0

    150 50.0

    300 100.0

    No

    YesTotal

    Valid

    SystemMissing

    Total

    Frequency Percent Valid PercentCumulative

    Percent

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    Correlation M atrix SH C SI 01 SH C SI 02 SH C SI 03 SH C SI 04 SH C SI 05 SH C SI 06SH CSI 01 1 0.468476 0.566205 0.619297 -0.06757 0.415655

    SH CSI 02 0.468476 1 0.468217 0.361046 0.116942 0.526069

    SH CSI 03 0.566205 0.468217 1 0.603896 -0.20735 0.476839

    SH CSI 04 0.619297 0.361046 0.603896 1 -0.03195 0.490067

    SH CSI 05 -0.06757 0.116942 -0.20735 -0.03195 1 0.004879

    SH CSI 06 0.415655 0.526069 0.476839 0.490067 0.004879 1

    SH C SI 07 0.04714 0.021945 -0.22114 0.025578 0.311903 0.14484

    SH C SI 08 0.336379 0.456334 0.297271 0.350266 0.063793 0.358551

    SH C SI 09 0.296712 0.266531 0.321982 0.382919 -0.32896 0.368282

    SH C SI 10 0.098645 0.311492 0.286536 0.170389 -0.22654 0.330286SH C SI 11 0.107465 0.159822 0.34144 0.242674 -0.24135 0.235988

    SH C SI 12 0.166504 0.130526 0.249611 0.254599 -0.12626 0.329876

    SH C SI 13 0.115883 0.275283 0.227922 0.180403 0.010653 0.248206

    SH C SI 14 -0.11262 -0.02891 -0.07222 -0.18696 -0.02553 -0.035

    SH C SI 15 0.184559 0.240006 0.08335 0.202646 -0.04431 0.166949

    SH C SI 16 0.052591 0.160901 0.03193 0.081044 -0.03375 0.034904

    SH C SI 17 0.091405 0.278279 -0.00845 0.120837 -0.0954 0.062353

    SH C SI 18 0.290323 0.428142 0.119435 0.36165 0.224544 0.234709

    SH C SI 19 0.172789 0.236736 0.238647 0.365102 -0.06007 0.191606

    SH C SI 20 0.114939 0.000614 -0.04404 0.183556 0.193714 0.043689

    SH C SI 21 0.063491 0.084534 -0.03089 0.127326 0.179243 0.111281

    SH C SI 22 0.031155 -0.16607 -0.18548 0.07138 0.275827 0.031092

    SH C SI 23 -0.02519 0.168893 -0.13455 -0.03377 -0.00609 0.102139

    SH C SI 24 -0.10137 -0.07199 -0.40816 -0.15303 0.384698 -0.34038

    SH C SI 25 -0.07456 0.090315 -0.10635 -0.06155 0.168385 -0.08957

    SH C SI 26 -0.17149 -0.05438 0.007934 -0.22402 0.070522 -0.05587

    SH C SI27 0 159842 0 111958 0 140431 0 05066 0 030338 0 159087

    Correlation

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    Correlation M atrix SH C SI 07 SH C SI 08 SH C SI 09 SH C SI 10 SH C SI 11 SH C SI 12SH C SI 01 0.04714 0.336379 0.296712 0.098645 0.107465 0.166504

    SH C SI 02 0.021945 0.456334 0.266531 0.311492 0.159822 0.130526

    SH C SI 03 -0.22114 0.297271 0.321982 0.286536 0.34144 0.249611

    SH C SI 04 0.025578 0.350266 0.382919 0.170389 0.242674 0.254599

    SH C SI 05 0.311903 0.063793 -0.32896 -0.22654 -0.24135 -0.12626

    SH C SI 06 0.14484 0.358551 0.368282 0.330286 0.235988 0.329876

    SH CSI 07 1 -0.19982 0.217684 -0.01742 -0.04106 0.043123

    SH CSI 08 -0.19982 1 0.34122 0.376158 0.315378 0.135987

    SH CSI 09 0.217684 0.34122 1 0.618969 0.510331 0.592811

    SH CSI 10 -0.01742 0.376158 0.618969 1 0.667219 0.469828SH CSI 11 -0.04106 0.315378 0.510331 0.667219 1 0.495489

    SH CSI 12 0.043123 0.135987 0.592811 0.469828 0.495489 1

    SH C SI 13 -0.05652 0.311848 0.150963 0.089085 0.248123 0.223821

    SH C SI 14 -0.08476 0.109365 0.106239 0.166047 0.213947 0.279788

    SH C SI 15 -0.09763 0.144413 0.158689 0.112215 -0.00038 0.090177

    SH C SI 16 -0.12978 0.096432 0.046423 0.090299 -0.07101 -0.00178

    SH C SI 17 0.073631 0.081187 0.286752 0.181063 0.026743 0.266663

    SH C SI 18 0.080854 0.273392 0.154152 0.213067 -0.02955 0.127527

    SH C SI 19 -0.21438 0.086988 0.093844 0.21999 0.055726 -0.02365

    SH C SI 20 0.130962 -0.08556 -0.04257 -0.20139 -0.18227 0.053875

    SH C SI 21 0.117302 0.132127 -0.06244 -0.03551 -0.1154 -0.00979

    SH C SI 22 0.227257 -0.10491 -0.16738 -0.25896 -0.22048 -0.0087

    SH C SI 23 -0.07567 0.17075 -0.14382 0.052334 -0.08367 -0.18249

    SH C SI 24 0.385143 -0.16932 -0.19552 -0.19291 -0.23399 -0.01622

    SH C SI 25 0.214487 0.086416 0.022627 0.025939 0.080108 0.024743

    SH C SI 26 0.019374 -0.15726 -0.29577 -0.25053 -0.23299 -0.33964

    SH C SI27 0 288911 0 021897 0 104228 0 048302 0 123542 0 07965

    Correlation

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    Correlation M atrix SH C SI 13 SH C SI 14 SH C SI 15 SH C SI 16 SH C SI 17 SH C SI 18SH C SI 01 0.115883 -0.11262 0.184559 0.052591 0.091405 0.290323

    SH C SI 02 0.275283 -0.02891 0.240006 0.160901 0.278279 0.428142

    SH C SI 03 0.227922 -0.07222 0.08335 0.03193 -0.00845 0.119435

    SH C SI 04 0.180403 -0.18696 0.202646 0.081044 0.120837 0.36165

    SH C SI 05 0.010653 -0.02553 -0.04431 -0.03375 -0.0954 0.224544

    SH C SI 06 0.248206 -0.035 0.166949 0.034904 0.062353 0.234709

    SH C SI 07 -0.05652 -0.08476 -0.09763 -0.12978 0.073631 0.080854

    SH C SI 08 0.311848 0.109365 0.144413 0.096432 0.081187 0.273392

    SH C SI 09 0.150963 0.106239 0.158689 0.046423 0.286752 0.154152

    SH C SI 10 0.089085 0.166047 0.112215 0.090299 0.181063 0.213067SH C SI 11 0.248123 0.213947 -0.00038 -0.07101 0.026743 -0.02955

    SH C SI 12 0.223821 0.279788 0.090177 -0.00178 0.266663 0.127527

    SH CSI 13 1 0.418649 0.287159 0.309919 0.154354 0.049854

    SH CSI 14 0.418649 1 0.129874 0.052354 0.211116 -0.19813

    SH CSI 15 0.287159 0.129874 1 0.689501 0.425182 0.191463

    SH CSI 16 0.309919 0.052354 0.689501 1 0.45665 0.312971

    SH CSI 17 0.154354 0.211116 0.425182 0.45665 1 0.343528

    SH CSI 18 0.049854 -0.19813 0.191463 0.312971 0.343528 1

    SH C SI 19 -0.1313 -0.25004 0.204408 0.255884 0.276206 0.613846

    SH C SI 20 0.218704 -0.04276 0.301506 0.3644 0.383572 0.309045

    SH C SI 21 0.204634 0.217297 0.450454 0.44442 0.298588 0.302609

    SH C SI 22 0.204973 0.053929 0.392409 0.492136 0.13009 0.16353

    SH C SI 23 0.311207 0.153723 0.431493 0.429013 0.063272 0.152282

    SH C SI 24 -0.04929 0.159589 0.15576 0.230321 0.325447 0.229426

    SH C SI 25 -0.07488 0.016548 -0.20264 -0.33997 -0.1275 -0.11964

    SH C SI 26 0.239134 0.069945 -0.06079 0.094308 -0.23782 -0.17081

    SH C SI27 0 11432 0 01428 0 1761 0 26357 0 006785 0 14792

    Correlation

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    Correlation M atrix SH C SI 19 SH C SI 20 SH C SI 21 SH C SI 22 SH C SI 23 SH C SI 24SH C SI 01 0.172789 0.114939 0.063491 0.031155 -0.02519 -0.10137

    SH C SI 02 0.236736 0.000614 0.084534 -0.16607 0.168893 -0.07199

    SH C SI 03 0.238647 -0.04404 -0.03089 -0.18548 -0.13455 -0.40816

    SH C SI 04 0.365102 0.183556 0.127326 0.07138 -0.03377 -0.15303

    SH C SI 05 -0.06007 0.193714 0.179243 0.275827 -0.00609 0.384698

    SH C SI 06 0.191606 0.043689 0.111281 0.031092 0.102139 -0.34038

    SH C SI 07 -0.21438 0.130962 0.117302 0.227257 -0.07567 0.385143

    SH C SI 08 0.086988 -0.08556 0.132127 -0.10491 0.17075 -0.16932

    SH C SI 09 0.093844 -0.04257 -0.06244 -0.16738 -0.14382 -0.19552

    SH C SI 10 0.21999 -0.20139 -0.03551 -0.25896 0.052334 -0.19291SH C SI 11 0.055726 -0.18227 -0.1154 -0.22048 -0.08367 -0.23399

    SH C SI 12 -0.02365 0.053875 -0.00979 -0.0087 -0.18249 -0.01622

    SH C SI 13 -0.1313 0.218704 0.204634 0.204973 0.311207 -0.04929

    SH C SI 14 -0.25004 -0.04276 0.217297 0.053929 0.153723 0.159589

    SH C SI 15 0.204408 0.301506 0.450454 0.392409 0.431493 0.15576

    SH CSI 16 0.255884 0.3644 0.44442 0.492136 0.429013 0.230321

    SH C SI 17 0.276206 0.383572 0.298588 0.13009 0.063272 0.325447

    SH C SI 18 0.613846 0.309045 0.302609 0.16353 0.152282 0.229426

    SH CSI 19 1 0.163781 0.186896 0.063998 0.164519 -0.04705

    SH CSI 20 0.163781 1 0.501429 0.636987 0.179964 0.463182

    SH CSI 21 0.186896 0.501429 1 0.621332 0.502195 0.430473

    SH CSI 22 0.063998 0.636987 0.621332 1 0.328238 0.492539

    SH CSI 23 0.164519 0.179964 0.502195 0.328238 1 0.216493

    SH CSI 24 -0.04705 0.463182 0.430473 0.492539 0.216493 1

    SH C SI 25 -0.17609 -0.29965 -0.05585 -0.18114 -0.00083 0.082917

    SH C SI 26 -0.26623 -0.00959 0.16801 -0.00217 0.202167 -0.01863

    SH C SI27 0 17821 0 1628 0 1753 0 27951 0 18733 0 02181

    Correlation

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    Correlation M atrix SH C SI 25 SH C SI 26 SH C SI 27 SH C SI 28 SH C SI 29 SH C SI 30SH C SI 01 -0.07456 -0.17149 0.159842 -0.12027 -0.14442 -0.11565

    SH C SI 02 0.090315 -0.05438 0.111958 -0.15977 -0.07272 -0.02445

    SH C SI 03 -0.10635 0.007934 0.140431 -0.19381 0.012693 -0.01161

    SH C SI 04 -0.06155 -0.22402 0.05066 -0.13081 0.012588 0.022937

    SH C SI 05 0.168385 0.070522 0.030338 0.086874 0.014687 -0.04382

    SH C SI 06 -0.08957 -0.05587 0.159087 -0.02127 0.092807 0.088939

    SH C SI 07 0.214487 0.019374 0.288911 0.103636 -0.02228 -0.03977

    SH C SI 08 0.086416 -0.15726 0.021897 -0.10145 0.077831 0.02501

    SH C SI 09 0.022627 -0.29577 0.104228 -0.28281 -0.14313 -0.02684

    SH C SI 10 0.025939 -0.25053 0.048302 -0.21699 -0.08942 -0.02764SH C SI 11 0.080108 -0.23299 0.123542 -0.01937 -0.08565 -0.01302

    SH CSI 12 0.024743 -0.33964 0.07965 -0.20937 -0.0873 -0.0009

    SH C SI 13 -0.07488 0.239134 -0.11432 -0.09216 -0.03755 0.07942

    SH C SI 14 0.016548 0.069945 -0.01428 -0.1168 -0.11681 0.051632

    SH C SI 15 -0.20264 -0.06079 -0.1761 -0.15295 -0.12298 0.039347

    SH C SI 16 -0.33997 0.094308 -0.26357 -0.10237 -0.04737 0.075177

    SH C SI 17 -0.1275 -0.23782 0.006785 -0.20252 -0.09237 -0.00011

    SH C SI 18 -0.11964 -0.17081 -0.14792 -0.09319 -0.00538 -0.1414

    SH C SI 19 -0.17609 -0.26623 -0.17821 -0.06916 0.000745 -0.03889

    SH C SI 20 -0.29965 -0.00959 -0.1628 -0.04137 0.017154 -0.06869

    SH C SI 21 -0.05585 0.16801 -0.1753 0.028492 -0.00369 0.109098

    SH C SI 22 -0.18114 -0.00217 -0.27951 0.054004 0.037179 -0.02337

    SH C SI 23 -0.00083 0.202167 -0.18733 0.045738 0.004073 0.137421

    SH C SI 24 0.082917 -0.01863 -0.02181 0.02352 0.031297 -0.06713

    SH CSI 25 1 0.07485 0.312088 0.166662 0.023446 0.148611

    SH CSI 26 0.07485 1 0.08148 0.134348 0.138943 0.161239

    SH CSI27 0 312088 0 08148 1 0 095973 0 047732 0 00105

    Correlation

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    Correlation M atrix SH C SI 37 SH C SI 38 SH C SI 39 SH C SI 40SH CSI 01 0.100394 0.24923 0.102622 0.01186

    SH CSI 02 0.151943 0.1214 0.171759 0.087681

    SH C SI 03 0.330955 0.194888 0.376568 0.018698

    SH C SI 04 0.311958 0.251114 0.210017 0.080959

    SH C SI 05 -0.07669 -0.12407 -0.14946 0.202147

    SH C SI 06 0.232156 0.189153 0.397655 -0.06718

    SH C SI 07 0.018949 0.25548 -0.06936 -0.13938

    SH CSI 08 0.3238 0.128561 0.295995 0.193496

    SH C SI 09 0.363952 0.527268 0.401304 -0.21592

    SH C SI 10 0.141651 0.228221 0.23785 -0.22883SH C SI 11 0.200306 0.281485 0.252226 -0.21056

    SH C SI 12 0.250098 0.588595 0.244111 -0.30351

    SH C SI 13 0.229355 0.074189 0.184583 0.28503

    SH C SI 14 -0.08177 0.145494 -0.12923 0.098963

    SH C SI 15 0.146172 0.078793 -0.06907 0.093642

    SH C SI 16 0.137662 0.030218 0.036125 -0.03466

    SH C SI 17 0.034302 0.297275 -0.2465 -0.02727

    SH C SI 18 0.092869 0.119205 -0.01003 -0.02646

    SH C SI 19 0.085598 -0.01783 -0.02546 -0.06896

    SH C SI 20 -0.09436 -0.04399 -0.14685 0.118116

    SH C SI 21 0.064906 0.028196 -0.12211 0.135859

    SH C SI 22 -0.04794 -0.06865 -0.19658 0.058149

    SH C SI 23 0.005501 -0.32063 -0.07201 0.026669

    SH C SI 24 -0.21173 0.072377 -0.49965 0.045132

    SH C SI 25 0.069303 0.107976 -0.06913 -0.09133

    SH C SI 26 0.09702 -0.19871 0.174095 0.199637

    SH C SI27 0 135907 0 337204 0 084299 0 18495

    Correlation

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    KMO and Bartlett's Test

    .608

    3602.776

    780

    .000

    Kaiser-Meyer-Olkin Measure of Sampling

    Adequacy.

    Approx. Chi-Square

    df

    Sig.

    Bartlett's Test of

    Sphericity

    Scree Plot

    Component Number

    39373533312927252321191715131197531Eigenvalue

    7

    6

    5

    4

    3

    2

    1

    0

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    Communalities

    1.000 .793

    1.000 .752

    1.000 .752

    1.000 .751

    1.000 .755

    1.000 .682

    1.000 .721

    1.000 .794

    1.000 .726

    1.000 .801

    1.000 .662

    1.000 .761

    1.000 .740

    1.000 .703

    1.000 .688

    1.000 .784

    1.000 .665

    1.000 .7801.000 .783

    1.000 .747

    1.000 .676

    1.000 .803

    1.000 .760

    1.000 .775

    1.000 .635

    1.000 .801

    1.000 .680

    1.000 .720

    1.000 .681

    SH CSI 01

    SH CSI 02

    SH CSI 03

    SH CSI 04

    SH CSI 05

    SH CSI 06

    SH CSI 07

    SH CSI 08

    SH CSI 09

    SH CSI 10SH CSI 11

    SH CSI 12

    SH CSI 13

    SH CSI 14

    SH CSI 15

    SH CSI 16

    SH CSI 17

    SH CSI 18SH CSI 19

    SH CSI 20

    SH CSI 21

    SH CSI 22

    SH CSI 23

    SH CSI 24

    SH CSI 25

    SH CSI 26

    SH CSI 27

    SH CSI 28

    SH CSI 29

    Initial Extraction

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    Total Variance Explained

    6.045 15.113 15.113 6.045 15.113 15.113

    5.065 12.663 27.776 5.065 12.663 27.776

    3.229 8.073 35.849 3.229 8.073 35.849

    2.486 6.216 42.064 2.486 6.216 42.064

    2.360 5.901 47.965 2.360 5.901 47.965

    2.160 5.401 53.366 2.160 5.401 53.366

    1.899 4.747 58.112 1.899 4.747 58.112

    1.513 3.783 61.895 1.513 3.783 61.895

    1.324 3.310 65.205 1.324 3.310 65.205

    1.222 3.055 68.260 1.222 3.055 68.260

    1.141 2.853 71.113 1.141 2.853 71.113

    1.074 2.686 73.799 1.074 2.686 73.799

    .955 2.387 76.186

    .879 2.198 78.383

    .842 2.105 80.488

    .717 1.792 82.280

    .696 1.740 84.019

    .639 1.598 85.617

    .596 1.490 87.107

    .526 1.316 88.423

    .498 1.246 89.669

    .447 1.119 90.787

    .409 1.023 91.810

    .395 .987 92.797

    .349 .872 93.669

    .331 .828 94.497

    .283 .707 95.204

    .259 .647 95.851

    Component1

    2

    3

    4

    5

    6

    7

    8

    910

    11

    12

    13

    14

    15

    16

    1718

    19

    20

    21

    22

    23

    24

    25

    26

    27

    28

    Total % of Variance Cumulative % Total % of Variance Cumulative %

    Initial Eigenvalues Extraction Sums of Squared Loadings

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    Com ponent M atrixaCom ponent

    1 2 3 4 5 6

    SH CSI 01 0.525 0.346SH CSI 02 0.530 0.351

    SH CSI 03 0.692

    SH CSI 04 0.606 0.368

    SH CSI 05 0.445

    SH CSI 06 0.644

    SH CSI 07 0.518 0.529

    SH CSI 08 0.552 0.391

    SH CSI 09 0.755SH CSI 10 0.640

    SH CSI 11 0.593

    SH CSI 12 0.568 -0.374 0.363

    SH CSI 13 0.334 -0.391

    SH CSI 14 0.483 -0.535

    SH CSI 15 0.655

    SH CSI 16 0.636 0.333 -0.306

    SH CSI 17 0.632 -0.300SH CSI 18 0.541 0.397

    SH CSI 19 0.373 -0.529

    SH CSI 20 0.680

    SH CSI 21 0.689 0.334

    SH CSI 22 0.631 -0.328

    SH CSI 23 0.465 0.413

    SH CSI 24 -0.445 0.569 0.329

    SH CSI 25 0.380 0.368

    SH CSI 26 0.577

    SH CSI27 0.356 0.364

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    Com ponent M atrixaCom ponent

    7 8 9 10 11 12

    SH CSI 01 -0.380SH CSI 02 0.302

    SH CSI 03

    SH CSI 04 -0.321

    SH C SI 05 -0.334 0.365

    SH CSI 06

    SH CSI 07

    SH CSI 08 -0.347

    SH CSI 09SH CSI 10 0.309 0.302

    SH CSI 11

    SH CSI 12

    SH CSI 13

    SH CSI 14

    SH CSI 15

    SH CSI 16

    SH CSI 17 0.318SH CSI 18

    SH CSI 19 0.406

    SH CSI 20

    SH CSI 21

    SH CSI 22

    SH CSI 23 0.364 -0.315

    SH CSI 24

    SH CSI 25 0.378

    SH CSI 26 0.371

    SH CSI27 0.315 -0.319

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    Shanghai CSI - Factor Rotation (1st trail)

    Rotated Component Matrixa

    .682

    .733

    .697 .301

    .776

    .434

    .667

    .722

    .585 .381

    .407 -.394 .390 .404

    .373 -.386 .437

    .532

    -.344 .458 .490

    .347 .601

    .745.664

    .784

    .438 -.322 -.349

    .564 .377

    .519 -.334

    .694

    .752

    .794

    .536 -.304

    .501 -.518 .376

    - 360 337 334

    SH CSI 01

    SH CSI 02

    SH CSI 03

    SH CSI 04

    SH CSI 05

    SH CSI 06SH CSI 07

    SH CSI 08

    SH CSI 09

    SH CSI 10

    SH CSI 11

    SH CSI 12

    SH CSI 13

    SH CSI 14SH CSI 15

    SH CSI 16

    SH CSI 17

    SH CSI 18

    SH CSI 19

    SH CSI 20

    SH CSI 21

    SH CSI 22

    SH CSI 23

    SH CSI 24

    SH CSI 25

    1 2 3 4 5 6

    Component

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    Shanghai CSI - Factor Rotation (2nd trail)

    Rotated Component Matrix a

    .755

    .759

    .778

    .722

    .728

    .677

    .351 -.328 .327

    .735

    .733

    .811

    .684

    .757

    .805 .356

    .614 -.447

    SH CSI

    01

    SH CSI

    02

    SH CSI

    04

    SH CSI05

    SH CSI

    06

    SH CSI

    07

    SH CSI

    11

    SH CSI

    14SH CSI

    15

    SH CSI

    16

    SH CSI

    20

    SH CSI

    21

    SH CSI

    22SH CSI

    28

    S CS

    1 2 3 4 5 6

    Component

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    Shanghai CSI - Factor Rotation (3rd trail)

    Rotated Component Matrix a

    .822

    .750

    .757

    .777

    .312 .731

    .725

    .848

    .796

    .856

    .631 .340

    .732

    .668

    .788

    SH CSI

    01

    SH CSI

    02

    SH CSI

    04SH CSI

    05

    SH CSI

    06

    SH CSI

    07

    SH CSI

    14

    SH CSI15

    SH CSI

    16

    SH CSI

    20

    SH CSI

    21

    SH CSI

    30

    SH CSI

    31

    SH CSI

    1 2 3 4 5 6

    Component

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    Shanghai CSI - Factor Rotation (4th trail)

    Rotated Component Matrix a

    .902

    .668

    .805

    .807

    .751

    .729

    .844

    .872

    .690

    .649

    .796

    .809

    .725

    SH CSI

    01

    SH CSI

    02

    SH CSI

    04SH CSI

    05

    SH CSI

    07

    SH CSI

    14

    SH CSI

    15

    SH CSI16

    SH CSI

    21

    SH CSI

    30

    SH CSI

    31

    SH CSI

    32

    SH CSI

    33

    SH CSI

    1 2 3 4 5 6

    Component

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    Shanghai CSI - Factor Rotation (5th and the final trail)

    Communalities

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    1.000

    SH CSI

    01

    SH CSI

    02

    SH CSI

    04

    SH CSI05

    SH CSI

    07

    SH CSI

    14

    SH CSI

    15

    SH CSI

    16

    SH CSI

    21

    SH CSI

    30

    SH CSI

    31

    SH CSI

    32

    SH CSI

    33

    SH CSI

    37

    Initial

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    Rotated Component Matrix a

    .893

    .690

    .799

    .803

    .763

    .939

    .848

    .884

    .702

    .640

    .802

    .808

    .774

    .708

    .831

    SH CSI

    01

    SH CSI

    02

    SH CSI

    04

    SH CSI

    05

    SH CSI

    07

    SH CSI

    14

    SH CSI

    15

    SH CSI

    16

    SH CSI

    21

    SH CSI

    30

    SH CSI

    31

    SH CSI

    32

    SH CSI

    33

    SH CSI

    37

    SH CSI

    39

    1 2 3 4 5 6

    Component

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    10.4.3 Cronbachs alpha Reliability method: Shanghai CSI

    Factor 1: Novelty and fashion-conscious consumer

    R E L I A B I L I T Y A N A L Y S I S - S C A L E (A L P H A)

    Mean Std Dev Cases

    1. SHCSI15 3.1267 1.0574 150.02. SHCSI16 2.6933 1.0294 150.03. SHCSI21 3.2267 1.1652 150.0

    N of

    Statistics for Mean Variance Std Dev VariablesSCALE 9.0467 7.2126 2.6856 3

    Item-total Statistics

    Scale Scale CorrectedMean Variance Item- Alpha

    if Item if Item Total if ItemDeleted Deleted Correlation Deleted

    SHCSI15 5 9200 3 4835 6615 6121

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    Factor 2: Perfectionistic and high-quality conscious consumer

    R E L I A B I L I T Y A N A L Y S I S - S C A L E (A L P H A)

    Mean Std Dev Cases

    1. SHCSI01 4.3400 .9471 150.02. SHCSI02 3.9467 .8731 150.0

    3. SHCSI04 4.3800 .6822 150.0

    N ofStatistics for Mean Variance Std Dev Variables

    SCALE 12.6667 4.1298 2.0322 3

    Item-total Statistics

    Scale Scale CorrectedMean Variance Item- Alpha

    if Item if Item Total if ItemDeleted Deleted Correlation Deleted

    SHCSI01 8.3267 1.6577 .6458 .5189SHCSI02 8.7200 2.1627 .4692 .7401

    SHCSI04 8.2867 2.4340 .5780 .6366

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    Factor 3: Habitual and brand-loyal consumer

    R E L I A B I L I T Y A N A L Y S I S - S C A L E (A L P H A)

    Mean Std Dev Cases

    1. SHCSI33 2.6600 1.0221 150.02. SHCSI37 3.4600 1.0969 150.0

    3. SHCSI39 2.6467 1.0371 150.0

    N ofStatistics for Mean Variance Std Dev Variables

    SCALE 8.7667 6.0727 2.4643 3

    Item-total Statistics

    Scale Scale CorrectedMean Variance Item- Alpha

    if Item if Item Total if ItemDeleted Deleted Correlation Deleted

    SHCSI33 6.1067 3.3577 .4459 .6427SHCSI37 5.3067 3.1939 .4274 .6723

    SHCSI39 6.1200 2.8446 .6153 .4196

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    Factor 4: Impulsive and careless consumer

    R E L I A B I L I T Y A N A L Y S I S - S C A L E (A L P H A)

    Mean Std Dev Cases

    1. SHCSI30 2.7067 .7377 150.02. SHCSI31 2.7667 .7634 150.03. SHCSI32 2.5600 .6183 150.0

    N ofStatistics for Mean Variance Std Dev Variables

    SCALE 8.0333 2.5694 1.6029 3

    Item-total Statistics

    Scale Scale Corrected

    Mean Variance Item- Alphaif Item if Item Total if ItemDeleted Deleted Correlation Deleted

    SHCSI30 5.3267 1.4832 .3016 .6987SHCSI31 5.2667 1.2036 .4675 .4604SHCSI32 5.4733 1.3919 .5450 .3806

    Reliability Coefficients

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    Factor 5: Price conscious and value for money consumer

    R E L I A B I L I T Y A N A L Y S I S - S C A L E (A L P H A)

    Mean Std Dev Cases

    1. SHCSI05 3.8267 .9606 150.02. SHCSI07 3.3733 1.0462 150.0

    N of

    Statistics for Mean Variance Std Dev VariablesSCALE 7.2000 2.6443 1.6261 2

    Item-total Statistics

    Scale Scale CorrectedMean Variance Item- Alpha

    if Item if Item Total if ItemDeleted Deleted Correlation Deleted

    SHCSI05 3.3733 1.0946 .3119 .SHCSI07 3.8267 .9228 .3119 .

    Reliability Coefficients

    N of Cases = 150.0 N of Items = 2

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    10.4.4 Decision-making styles of Hong Kong university consumers

    HK CSI - Factor Analysis

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    Correlation M atrix H K C SI 01 H K C SI 02 H K C SI 03 H K C SI 04 H K C SI 05 H K C SI 06H K CSI 01 1.000 0.181 0.318 0.237 -0.040 0.260

    H K CSI 02 0.181 1.000 0.467 0.141 0.046 0.329

    H K CSI 03 0.318 0.467 1.000 0.320 -0.041 0.398H K CSI 04 0.237 0.141 0.320 1.000 -0.016 0.285

    H K CSI 05 -0.040 0.046 -0.041 -0.016 1.000 0.161

    H K CSI 06 0.260 0.329 0.398 0.285 0.161 1.000

    H K CSI 07 -0.027 -0.039 -0.049 -0.082 0.393 0.198

    H K CSI 08 0.088 0.353 0.224 0.154 0.034 0.365

    H K CSI 09 0.036 0.208 0.224 0.040 -0.289 0.139

    H K CSI 10 0.026 0.077 0.096 -0.043 -0.329 0.022H K CSI 11 0.005 0.014 0.036 0.008 -0.147 0.056

    H K CSI 12 -0.039 0.132 0.119 -0.049 -0.147 0.148

    H K CSI 13 -0.116 0.061 0.127 -0.058 -0.070 0.061

    H K CSI 14 -0.099 -0.080 0.114 -0.063 -0.265 -0.028

    H K CSI 15 0.050 0.044 -0.020 -0.091 -0.023 0.100

    H K CSI 16 0.044 0.060 0.127 0.007 -0.157 -0.042

    H K CSI 17 -0.016 0.129 0.127 0.041 -0.267 0.057

    H K CSI 18 0.169 0.125 0.034 0.169 -0.045 0.146

    HK CSI 19 0.160 0.045 0.117 0.198 -0.098 0.160

    H K CSI 20 0.015 -0.057 -0.129 0.102 0.243 0.121

    H K CSI 21 0.000 0.114 0.059 0.081 0.163 0.205

    H K CSI 22 -0.087 -0.092 -0.113 -0.016 0.174 0.030

    H K CSI 23 0.070 0.091 0.184 0.054 -0.088 0.168

    H K CSI 24 -0.057 0.047 -0.090 0.058 0.259 0.013

    H K CSI 25 0.088 0.076 0.039 0.159 0.107 0.150

    H K CSI 26 -0.098 0.040 0.056 -0.010 0.058 0.116

    H K CSI27 0 087 0 096 0 075 0 054 0 182 0 119

    Correlation

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    Correlation M atrix H K C SI 07 H K C SI 08 H K C SI 09 H K C SI 10 H K C SI 11 H K C SI 12H K CSI 01 -0.027 0.088 0.036 0.026 0.005 -0.039

    H K CSI 02 -0.039 0.353 0.208 0.077 0.014 0.132

    H K CSI 03 -0.049 0.224 0.224 0.096 0.036 0.119H K CSI 04 -0.082 0.154 0.040 -0.043 0.008 -0.049

    H K CSI 05 0.393 0.034 -0.289 -0.329 -0.147 -0.147

    H K CSI 06 0.198 0.365 0.139 0.022 0.056 0.148

    H K CSI 07 1.000 -0.047 -0.086 -0.168 0.100 0.006

    H K CSI 08 -0.047 1.000 0.209 0.160 0.161 0.216

    H K CSI 09 -0.086 0.209 1.000 0.543 0.291 0.329

    H K CSI 10 -0.168 0.160 0.543 1.000 0.463 0.355H K CSI 11 0.100 0.161 0.291 0.463 1.000 0.381

    H K CSI 12 0.006 0.216 0.329 0.355 0.381 1.000

    H K CSI 13 0.115 0.049 0.222 0.307 0.469 0.527

    H K CSI 14 -0.036 0.055 0.292 0.369 0.380 0.434

    H K CSI 15 0.032 0.061 0.126 0.158 0.071 0.114

    H K CSI 16 -0.126 0.020 0.273 0.287 0.176 0.116

    H K CSI 17 -0.072 -0.014 0.462 0.411 0.277 0.271

    H K CSI 18 0.132 0.120 0.192 0.119 0.053 0.132

    H K CSI 19 -0.067 -0.008 0.010 -0.090 0.052 0.011

    H K CSI 20 0.150 0.166 -0.055 -0.152 0.022 0.103

    H K CSI 21 0.278 0.089 0.052 -0.071 0.107 0.113

    H K CSI 22 0.032 -0.082 -0.200 -0.077 -0.052 -0.135

    H K CSI 23 0.000 0.048 0.139 0.072 0.124 0.083

    H K CSI 24 0.328 -0.046 -0.063 -0.044 -0.027 -0.117

    H K CSI 25 0.236 0.116 -0.010 -0.114 0.047 0.105

    H K CSI 26 0.108 -0.002 -0.095 -0.089 0.002 0.058

    H K CSI 27 0 300 0 108 0 015 0 121 0 155 0 090

    Correlation

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    Correlation M atrix H K C SI 13 H K C SI 14 H K C SI 15 H K C SI 16 H K C SI 17 H K C SI 18H K CSI 01 -0.116 -0.099 0.050 0.044 -0.016 0.169

    H K CSI 02 0.061 -0.080 0.044 0.060 0.129 0.125

    H K CSI 03 0.127 0.114 -0.020 0.127 0.127 0.034H K CSI 04 -0.058 -0.063 -0.091 0.007 0.041 0.169

    H K CSI 05 -0.070 -0.265 -0.023 -0.157 -0.267 -0.045

    H K CSI 06 0.061 -0.028 0.100 -0.042 0.057 0.146

    H K CSI 07 0.115 -0.036 0.032 -0.126 -0.072 0.132

    H K CSI 08 0.049 0.055 0.061 0.020 -0.014 0.120

    H K CSI 09 0.222 0.292 0.126 0.273 0.462 0.192

    H K CSI 10 0.307 0.369 0.158 0.287 0.411 0.119H K CSI 11 0.469 0.380 0.071 0.176 0.277 0.053

    H K CSI 12 0.527 0.434 0.114 0.116 0.271 0.132

    H K CSI 13 1.000 0.494 0.183 0.123 0.320 0.078

    H K CSI 14 0.494 1.000 0.137 0.215 0.290 -0.053

    H K CSI 15 0.183 0.137 1.000 0.652 0.399 0.301

    H K CSI 16 0.123 0.215 0.652 1.000 0.514 0.208

    H K CSI 17 0.320 0.290 0.399 0.514 1.000 0.300

    H K CSI 18 0.078 -0.053 0.301 0.208 0.300 1.000

    H K CSI 19 0.049 0.012 0.161 0.212 0.146 0.235

    H K CSI 20 -0.010 -0.086 0.322 0.294 0.054 0.258

    H K CSI 21 0.103 -0.071 0.317 0.222 0.174 0.279

    H K CSI 22 0.011 -0.089 0.295 0.287 0.041 0.149

    H K CSI 23 0.187 0.026 0.241 0.141 0.127 0.017

    H K CSI 24 -0.099 -0.214 0.111 0.149 -0.022 0.071

    H K CSI 25 0.225 0.043 -0.068 -0.062 -0.041 0.018

    H K CSI 26 0.129 0.139 -0.163 -0.181 -0.088 -0.204

    H K CSI27 0 100 0 046 0 002 0 115 0 186 0 017

    Correlation

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    Correlation M atrix H K C SI 19 H K C SI 20 H K C SI 21 H K C SI 22 H K C SI 23 H K C SI 24H K CSI 01 0.160 0.015 0.000 -0.087 0.070 -0.057

    H K CSI 02 0.045 -0.057 0.114 -0.092 0.091 0.047

    H K CSI 03 0.117 -0.129 0.059 -0.113 0.184 -0.090H K CSI 04 0.198 0.102 0.081 -0.016 0.054 0.058

    H K CSI 05 -0.098 0.243 0.163 0.174 -0.088 0.259

    H K CSI 06 0.160 0.121 0.205 0.030 0.168 0.013

    H K CSI 07 -0.067 0.150 0.278 0.032 0.000 0.328

    H K CSI 08 -0.008 0.166 0.089 -0.082 0.048 -0.046

    H K CSI 09 0.010 -0.055 0.052 -0.200 0.139 -0.063

    H K CSI 10 -0.090 -0.152 -0.071 -0.077 0.072 -0.044

    H K CSI 11 0.052 0.022 0.107 -0.052 0.124 -0.027

    H K CSI 12 0.011 0.103 0.113 -0.135 0.083 -0.117

    H K CSI 13 0.049 -0.010 0.103 0.011 0.187 -0.099

    H K CSI 14 0.012 -0.086 -0.071 -0.089 0.026 -0.214

    H K CSI 15 0.161 0.322 0.317 0.295 0.241 0.111

    H K CSI 16 0.212 0.294 0.222 0.287 0.141 0.149

    H K CSI 17 0.146 0.054 0.174 0.041 0.127 -0.022

    H K CSI 18 0.235 0.258 0.279 0.149 0.017 0.071

    H K CSI 19 1.000 0.239 0.158 0.119 0.253 0.033

    H K CSI 20 0.239 1.000 0.526 0.541 0.173 0.327

    H K CSI 21 0.158 0.526 1.000 0.454 0.359 0.322

    H K CSI 22 0.119 0.541 0.454 1.000 0.184 0.406

    H K CSI 23 0.253 0.173 0.359 0.184 1.000 0.008

    H K CSI 24 0.033 0.327 0.322 0.406 0.008 1.000

    H K CSI 25 0.110 0.030 0.055 -0.128 0.025 -0.014

    H K CSI 26 -0.115 -0.136 0.122 -0.086 0.040 -0.030

    H K CSI27 0 032 0 104 0 039 0 052 0 064 0 105

    Correlation

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    Correlation M atrix H K C SI 25 H K C SI 26 H K C SI 27 H K C SI 28 H K C SI 29 H K C SI 30H K CSI 01 0.088 -0.098 0.087 0.010 -0.011 -0.057

    H K CSI 02 0.076 0.040 0.096 -0.089 0.014 -0.020

    H K CSI 03 0.039 0.056 0.075 0.022 -0.065 -0.043H K CSI 04 0.159 -0.010 0.054 0.013 0.041 -0.134

    H K CSI 05 0.107 0.058 0.182 0.050 -0.016 0.122

    H K CSI 06 0.150 0.116 0.119 0.117 0.005 0.026

    H K CSI 07 0.236 0.108 0.300 0.097 -0.050 0.179

    H K CSI 08 0.116 -0.002 0.108 0.090 0.011 0.115

    H K CSI 09 -0.010 -0.095 0.015 0.021 0.019 -0.011

    H K CSI 10 -0.114 -0.089 -0.121 -0.032 -0.029 0.023