Consumers' Adoption of Molecular Chinese Medicine (MCM) in Macau: A Value-based approach

Resource type
Authors/contributors
Title
Consumers' Adoption of Molecular Chinese Medicine (MCM) in Macau: A Value-based approach
Abstract
Molecular Chinese Medicine (MCM) is a recent method of manufacturing and dosing prescriptions that brings several advantages when compared with Traditional Chinese Medicine (TCM). For instance, MCM is highly dissoluble, tastes better than the usual decoction, and the active principles are easily absorbed. Also, the manufacturing process is subject to better quality control. In spite of these benefits, consumers' intentions remain unclear due to the novelty of this technique. Therefore, an assessment of individuals' perceptions is relevant since molecular medicine is redefining how scientists understand and treat diseases, and it can be considered a medical innovation. To fill the research gap, the Value-based Acceptance Model (VAM) (Kim et al., 2007) is used to assess the individuals' perceptions of value and intention to accept MCM. Data from a sample of Macau residents are analyzed by means of structural equation modeling (SmartPLS). The results support the use of the model in our context, thus extending the applicability of the VAM to other settings. Except for 'technicality', the constructs of 'usefulness', 'enjoyment', and 'perceived fee' had a significant impact on the overall 'perceived value' of MCM, and in turn on the behavioral intention to use the innovation. To facilitate the diffusion of this dosage method in the marketplace, it is suggested that communications strategies consider the proposed sources of value when promoting MCM. To further explain the adoption process, it is recommended to include additional factors that may affect consumers' intention to adopt the innovation and extend the analysis to the actual usage.
Date
2022-12-21
Proceedings Title
Proceedings of the 17th International Conference of the Academy of Global Business Research and Practice (AGBRP 2022)
Place
Dubai, UAE
Publisher
Academy of Global Business Research and Practice
Language
English
Short Title
Consumers' Adoption of Molecular Chinese Medicine (MCM) in Macau
Library Catalog
ResearchGate
Citation
Hong, C. K., & Lampo, A. (2022, December 21). Consumers’ Adoption of Molecular Chinese Medicine (MCM) in Macau: A Value-based approach. Proceedings of the 17th International Conference of the Academy of Global Business Research and Practice (AGBRP 2022). https://www.researchgate.net/publication/366496584_Consumers%27_Adoption_of_Molecular_Chinese_Medicine_MCM_in_Macau_A_Value-based_approach