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Chapter 1

INTRODUCTION

This chapter presents the rationale and background of the study,

theoretical framework, statement of the problem, significance of the

study, scope and delimitation of the study, and definition of terms. This

chapter will provide a description of the problem that will address and

background information of the study.

Rationale and Background of the Study

Buyer's remorse, characterized by feelings of regret or anxiety

after making a purchase decision, is a common phenomenon in

consumer behavior research (CapitalOne, 2022). However,

understanding how buyer's remorse manifests across different

generations is an area that warrants investigation. In today's rapidly

evolving marketplace, examining the subtle differences in buyer's

remorse between generations might offer insightful information to

marketers, retailers, and legislators in today's dynamic economy, as

customer preferences and behaviors vary greatly between age groups.

Understanding buyer's remorse from a generational perspective

is crucial for several reasons. Firstly, different generations exhibit

unique consumer behaviors, influenced by socio-cultural, economic,

and technological factors. Millennials, for example, may experience

buyer's remorse differently than Baby Boomers due to variations in

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upbringing, values, and life experiences. Secondly, as each generation

transitions through different life stages, their consumption patterns

and decision-making processes evolve, leading to varying degrees of

susceptibility to buyer's remorse “Understanding Generational

Differences in Consumer Behavior” (Linkedin, 2023).

While studies have explored buyer's remorse in various contexts

globally, there is a gap in understanding how it manifests across

different generations in a local context like Dagupan City, Pangasinan.

In a city with a diverse demographic composition and evolving

consumer preferences, investigating buyer's remorse across

generations can provide valuable insights into local consumer behavior

patterns. Dagupan City, located in Pangasinan, Philippines, is

experiencing rapid urbanization and socio-economic changes,

influencing consumer attitudes and behaviors. Understanding how

buyer's remorse varies across generations within this local context is

essential for businesses and policymakers to tailor their strategies

effectively. By examining how Generation X and Y in Dagupan City

experience buyer's remorse differently, this study aims to fill the gap in

local consumer behavior research and contribute to the development

of targeted marketing initiatives and consumer protection policies.

Previous research on buyer's remorse has predominantly focused

on global or national scales, overlooking the nuances of local consumer

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dynamics. By conducting a comparative analysis across generations in

Dagupan City, this study seeks to uncover insights specific to the local

context, shedding light on the factors driving buyer's remorse and how

they intersect with generational differences.

Understanding the triggers and mitigating factors associated

with buyer's remorse in different age cohorts can inform targeted

marketing strategies, product development initiatives, and customer

service interventions tailored to specific demographic segments.

Ultimately, the findings of this study aim to contribute to a deeper

understanding of consumer behavior across generations and facilitate

the development of more effective consumer-centric strategies in the

marketplace.

Theoretical Framework

The study "Analyzing Buyer Remorse Across Generations" can be

anchored in the theory of cognitive dissonance, drawing inspiration

from existing research such as the study "Cognitive Dissonance in

Technology Adoption: A Study of Smart Home Users." Cognitive

dissonance theory, proposed by Festinger in 1957, posits that

individuals strive for internal consistency and experience psychological

discomfort when they hold conflicting beliefs or attitudes that are

inconsistent with their behavior. This discomfort motivates individuals

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to seek ways to reduce the dissonance and restore consonance within

themselves (Marikyan, D., et.al, 2020).

When confronted with conflicting thoughts or actions, individuals

may experience psychological discomfort, which motivates them to

seek resolution through various means, such as changing their beliefs,

justifying their actions, or avoiding situations that exacerbate the

dissonance. Festinger's theory has wide-ranging applications in

understanding human behavior, including decision-making processes,

attitude formation, and social influence, by highlighting its significance

in understanding human behavior and decision-making processes. The

core concepts of cognitive dissonance, such as the discomfort

individuals experience when their beliefs or behaviors are inconsistent

(Macleod, S., 2023).

In the context of analyzing buyer remorse across generations,

the cognitive dissonance theory can be applied to understand the post-

purchase feelings of regret or uncertainty experienced by buyers from

different age groups. The study can explore how individuals of different

generations (such as Baby Boomers, Generation X, Millennials, and

Generation Z) navigate buyer's remorse following a purchase decision,

considering factors like product satisfaction, perceived value, and post-

purchase behavior. By examining how individuals from various

generations cope with cognitive dissonance arising from buyer

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remorse, the research can shed light on unique coping mechanisms,

decision-making processes, and psychological responses across

different age groups.

Drawing insights from the study on cognitive dissonance in

technology adoption among smart home users, the research on buyer

remorse can leverage similar methodologies and frameworks to

analyze the cognitive processes, attitude shifts, and behavioral

adjustments that occur among individuals experiencing post-purchase

dissonance. By aligning the study on buyer remorse across generations

with the existing literature on cognitive dissonance in technology

adoption, the research can contribute to a deeper understanding of the

psychological mechanisms underlying buyer's remorse and its

implications for consumer behavior and decision-making processes

across different age cohorts.

Research Paradigm

The research paradigm for this study is structured to investigate

buyer's remorse across different generations by integrating

demographic profiling and key influencing factors. Input-Process-

Output framework, will be utilized in this investigation.

The initial phase involves gathering the demographic data of

respondents, which includes their age, sex, job rank, monthly income,
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education level, and the types of entities they have purchased with

regret. These demographic variables will provide a foundational

understanding of the respondent's background and purchasing

behavior. Subsequently, the study will delve into the factors

influencing buyer's remorse, specifically focusing on the price of items,

technological influence, mode of payment, and consumer expectations.

To achieve this, a quantitative research methodology will be employed,

utilizing a survey questionnaire to collect data systematically. The

collected data will then be analyzed to identify patterns and

correlations between demographic factors and the determinants of

buyer's remorse. The ultimate goal of this research is to produce a

comprehensive analysis of buyer's remorse across generations,

offering insights that could inform both consumers and marketers on

how to mitigate regret in purchasing decisions.

Input Process Output

1. The
Demographic
profile of the
respondents:
a. age;
b. sex;
c. job rank;
d. monthly
income Quantitative Analysis of
e. education level; Buyer’s Remorse
and Research, Across Generation
f. types of entities
purchased with using a
regret.
2. the factors survey
influencing
buyer's remorse questionnair
across
generations,
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Figure 1. Research Paradigm

Statement Of the Problem

The study aims to understand the demographics and

psychographic mechanisms in analyzing buyer’s remorse of Generation

X and Y.

The study specifically seeks to answer the following questions:

1. What is the demographic profile of the respondents:

a. age;

b. sex;

c. occupation;

d. monthly income;

e. educational level; and

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f. types of entities purchased with regret?

2. What are the factors influencing buyer's remorse across

generations, as to:

a. price;

b. technological influence;

c. source of payment; and

d. consumer expectations?

3. Is there a significant relationship between the factors and

selected profile variables as to:

a. sex;

b. monthly income; and

c. types of entities purchased with regret?

Hypothesis of the Study

This hypothesis is grounded in the premise that individuals from

distinct generations exhibit varying attitudes, behaviors, and

preferences due to unique social, economic, and cultural influences

experienced during their formative years. The following null hypothesis

will be used with 0.05 level of significance.

HO: There is no significant relationship between the factors across

profile variables: sex, monthly income, and types of entities purchased

with regret.
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Significance of the Study

The objective of this study is to uncover the key factors driving

impulsive purchases. The result of the study will be beneficial to the

following:

Consumer Advocacy Groups. Provide valuable information to

consumers, empowering them to make informed decisions and

navigate the marketplace more effectively.

Educational Institutions and Researchers. Contribute to academic

knowledge by adding insights into the dynamics of buyer's remorse

across generations. Serve as a foundation for further research in

consumer behavior, generational studies, and marketing strategies.

Gen-X and Y Consumers (Respondents). This study will help them

to understand their personal behavior. As a result, this study will assist

the generation X and Y consumers in being more aware of and

knowledgeable about their own purchasing patterns. Their heightened

self-awareness will empower them to select beauty products with

greater knowledge and purpose.

Consumer Behavior Analysts. The study will provide consumer

behavior experts or analysts with new perspectives on how Gen X and

Y makes post purchases regret. The understanding of consumer

psychology and behavior is broadened by this study.

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Other interested parties. This will function as a roadmap or point of

reference for their upcoming coursework. Some researchers will use

this study as a foundation for their research and it may address their

questions. The findings could be used as related reading for their

individual research projects.

Researchers and Future Researchers. Understanding how different

generations experience buyer's remorse can inform marketers,

policymakers, and businesses in tailoring their strategies to meet

evolving consumer needs. Furthermore, such research can provide

valuable longitudinal data for future researchers to build upon,

allowing for deeper analysis of trends and patterns over time.

Scope and Delimitation of the Study

This study will be conducted to better understand why

generations Y and X experience post-purchase regret. Each respondent

will receive the same questionnaire to complete the information

needed.

The study does not extend beyond Dagupan City, and does not

include data or insight from other cities or region.

This study involves analyzing buyer's remorse across generations

X and generation Y specifically within Dagupan City. This includes

identifying factors contributing to buyer's remorse, such as age, sex,

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job rank, monthly income, educational level, and types of entities

purchased with regret. The delimitations involve focusing solely on

consumers within Dagupan City and comparing buyer's remorse across

generations.

Definition of Terms

In the study "Analyzing Buyer's Remorse Across Generations” it

is essential to define key terms to ensure clarity and consistency in

understanding the research findings. The following definitions provide

operational and lexical clarity for terms relevant to the study:

Buyer's Remorse. The disappointed feeling somebody has after they

have bought something when they think they have made a mistake

(Oxford Dictionary). In this study, it is the degree of regret or anxiety

expressed by consumers through responses on a Likert scale ranging

from 1 (no remorse) to 5 (significant remorse) in post purchase

surveys.

Consumer Behavior. During the recession sales suffered from

cautious and price-conscious consumer behavior (Cambridge

Dictionary). In this study, this is the observable actions and decision-

making processes of consumers, including their preferences, attitudes,

and purchasing behaviors, analyzed through surveys, focus groups,

and behavioral experiments.

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Consumer Expectation. The expectations of consumers are based on

irrational fears, unlike the rational calculations assumed to take place

in firms. Consumers’ Expectations as a Leading Economic Indicator

How much do consumers know about the expected direction of change

(Cambridge Dictionary). In this study, it involves understanding how

consumer expectations evolve over time. Each generation of

Generation Y and Generation X may have different priorities, values,

and experiences that shape their purchasing decisions and subsequent

feelings of remorse.

Entities. Something that exists separately from other things and has

its own identity (Oxford Dictionary). In this study, it represents the

various entities or units under study, such as consumers, businesses,

or organizations, whose characteristics or behaviors are examined

within the research.

Entry-Level. Being at the lowest level of a hierarchy (Merriam

Webster). In this study, it refers to job positions requiring minimal

qualifications or experience, typically occupied by recent graduates or

individuals with limited work experience.

Events. Anything that happens, especially something important or

unusual (Cambridge Dictionary). In this study, this is the specific

incidents or occasions, such as purchase events or life milestones,

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recorded, and analyzed to identify triggers or factors contributing to

buyer's remorse across different generations.

Executive or Service Management. Someone in a high position,

especially in business, who makes decisions and puts them into action

(Cambridge Dictionary). In this study, these are the individuals holding

executive positions within organizations or those responsible for

managing service delivery and customer interactions, whose roles

influence consumer experiences, and perceptions.

Experiences. The knowledge and skill that you have gained through

doing something for a period of time (Oxford Dictionary). In this study,

this is the subjective encounters, interactions, or engagements with

products, services, or events that shape consumer perceptions and

behaviors, assessed through qualitative research methods such as

interviews or focus groups.

First Level of Management. The role of management is split into

three levels: top-level, middle-level, and first-level. These levels are

tiered in numbers and overall responsibilities (The Law Dictionary). In

this study, it refers to individuals occupying entry-level managerial

roles responsible for overseeing frontline employees or executing

routine operational tasks, whose decisions, and actions impact

consumer experiences.
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Generational Cohorts. Your age is the number of years that you

have lived. A person's cohorts are their friends, supporters, or

associates (Collins Dictionary). In this study, this defines as a distinct

age groups or generations defined by birth years, such as Baby

Boomers, Generation X, and Millennials, used to segment populations

for comparative analysis based on shared generational characteristics.

Generation X. Members of the generation of people born between the

mid-1960s and the late-1970s, often perceived as being highly

educated but underemployed, and lacking direction and disaffected in

their younger years (Collins Dictionary). In this study, it is the

demographic cohort comprising individuals born within specific birth

years, typically identified as those born between 1965 and 1980, used

as a reference group for comparative analysis.

Generation Y. The generation of people born in the period roughly

from 1980 to the mid-1990s the millennials (Merriam Webster). In this

study, it is the demographic cohort consisting of individuals born within

specific birth years, typically identified as those born between 1981

and 1996, used as a reference group for comparative analysis.

Intermediate or Experience. intermediate when you find yourself in

that in-between stage, like after you complete an introductory class

but before you are ready for the advanced stuff. Experience

something, you go through an unusual or exciting event (Vocabulary

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Dictionary). In this study, it denotes individuals possessing moderate to

advanced levels of expertise or competency, typically acquired through

extended experience or training, within the context of the study.

Intriguing. very interesting because of being unusual or mysterious

(Cambridge Dictionary). In this study, it refers to the aspects or

findings within the study that evoke curiosity or fascination, prompting

further investigation or analysis.

Mode of Payment. A way of paying for something, such as cash

(Cambridge Dictionary). In this study, the mode of payment is

operationalized as the specific type or mechanism used by consumers

to conduct transactions for goods or

Services. Is something that the public needs, such as transport,

communications facilities, hospitals, or energy supplies, which is

provided in a planned and organized way by the government or an

official body (Collins Dictionary). In this study, service plays a vital role

in shaping consumer expectations. Understanding these generational

differences in service preferences helps researchers analyze how

buyer's remorse is experienced and managed across different age

groups.

Technological Influences. Technological advances in computing and

telecommunications have reduced the need for many people to travel

to work (Cambridge Dictionary). In this study, technology shapes

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consumer expectations differently between generations Y and X.

Younger generations, accustomed to smartphones and social media,

expect seamless digital experiences and instant gratification. In

contrast, older generations prioritize traditional customer service and

reliability. By understanding how technology influences consumer

behavior, researchers can analyze how buyer's remorse varies among

different age groups.

Chapter 2

RESEARCH METHODOLOGY

This chapter provides the methodology that will use to undertake

the research. It provides the research design, sampling design, source

of data, locale of the study, instrumentation and data collection, and

tools for data analysis.

Research Design

In analyzing buyer’s remorse across generations of Generation X

and Y using the descriptive quantitative method, researchers would

gather numerical data on purchase behavior, feelings of regret, and

demographic factors via surveys or questionnaires. These instruments

would assess the frequency and intensity of buyer’s remorse

experiences, alongside variables like age, income, and preferred

shopping channels. Employing statistical analysis techniques such as

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measures of central tendency and variability, researchers would

summarize and compare the data between the two generational

cohorts, providing a concise overview of buyer’s remorse trends and

identifying any differences or similarities in their experiences. Adopting

a comparative approach, the study employs descriptive quantitative

method to explore variations in buyer's remorse experiences among

Generation X, and Generation Y. Moreover, quantitative data will be

gathered through structured surveys and questionnaires administered

to representative samples of consumers from each generational

cohort.

The research design aims to provide a comprehensive

understanding of the factors influencing buyer's remorse across

generations, thereby contributing valuable insights to consumer

behavior research, and informing marketing strategies tailored to

different age groups in Dagupan City. Throughout the research

process, ethical considerations will take precedence, ensuring

confidentiality and informed consent of participants. Before agreeing to

participate, individuals will receive comprehensive information about

the study's purpose, procedures, risks, and benefits, including how

their data will be collected, utilized, and safeguarded, as well as

potential conflicts of interest. Researchers will prioritize the privacy

and confidentiality of participants' personal information and responses,

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employing anonymized data whenever feasible and securely storing

any identifiable data to prevent unauthorized access or disclosure. The

data analysis will utilize suitable statistical methods to discern patterns

and correlations between pricing strategies and consumer preferences.

In addition, the study design would specify strategies for

informing relevant groups of people about the results and identify any

limitations, such as sample size restrictions or potential biases.

Through a systematic and rigorous research design, the study aims to

analyze buyer's remorse across different generational cohorts in

Dagupan City, Pangasinan.

Sources of Data

For the study “"Analyzing Buyer's Remorse Across Generations”,

the data will be sourced from both primary and secondary sources.

Primary sources will include surveys and questionnaires administered

to individuals from different generational cohorts (Generation X and Y)

within Dagupan City, Pangasinan.

The study limits the respondents to Generation X and Generation

Y (Millennials) to focus on the contrasting experiences and

perspectives of these two significant generational cohorts. Generation

X, currently aged 45 to 59, and Generation Y, aged 29 to 44, represent

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different stages of life, economic conditions, and purchasing behaviors.

By concentrating on these two groups, the study aims to explore how

buyer's remorse may vary between individuals who grew up during

different technological advancements and economic environments,

providing valuable insights into how age, life experience, and

generational characteristics influence post-purchase regret. This

targeted approach allows for a deeper understanding of the specific

factors driving buyer's remorse within these influential demographic

groups, making the findings more relevant and actionable.

In order to obtain precise demographic data and guarantee a

comprehensive representation of the target population, the

researchers consult The Official Website of the City Government of

Dagupan to determine the total population for the study. Having the

generational cohorts of Generation X and Y, the exact population of the

respondents is 23,728. The researchers need to follow a strategic

approach in order to gather the respondents that considers the unique

characteristics and preferences of each generation.

The researchers will also develop flyers containing information

that resonate with each generational cohort. This will be shown to the

respondents to know if what generation they belong. This will help the

researchers to identify if what generational cohorts the respondents

are belong and with that, the researchers can distribute the survey
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questionnaire. These primary sources will provide firsthand

information from individuals, allowing for a comprehensive

understanding of buyer's remorse across different generations.

Moreover, to determine an appropriate sample size for the

Ni
research, Slovin’s formula was employed which is given by ni = 2
1+ N i e i

where, ni is the desired sample size for generation i , N i is the size of

generation i in the population, and e i is the precision level for

generation i , expressing the acceptable margin of error or variability.

Slovin's formula will be utilized to determine the appropriate sample

size from the total population. This formula involves calculating the

sample size based on the desired level of precision and confidence

level. The sample size was calculated to be 393 respondents. This

calculation was based on the total population of Generation X and

Generation Y individuals within the specified region, with a chosen

margin of error to ensure the reliability of the results. The sample size

of 393 ensures that the study will gather a representative and

statistically significant set of data, providing meaningful insights into

the differences and similarities in buyer's remorse between these two

generational cohorts.

To ensure sample, the researchers will employ convenience

sampling as sampling technique in the study. This non-probability

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sampling method is chosen due to its practicality and ease of access to

participants. By selecting respondents who are readily available and

willing to participate, the study can efficiently collect a substantial

amount of data. This approach will involve surveying individuals within

these two generational cohorts who can be easily reached through

various channels such as social media, workplace networks, and

community groups. Although convenience sampling may limit the

generalizability of the findings, it provides a useful means of obtaining

preliminary insights into the patterns and factors influencing buyer's

remorse among Generation X and Generation Y.

The study will specifically include respondents from two

generational cohorts: Generation X, comprising individuals born

between the mid-1960s and the late-1970s and currently aged

between 45 to 59 years old, and Generation Y, also known as

Millennials, who were born roughly between 1980 and the mid-1990s

and are currently aged between 29 to 44 years old. To ensure

relevance, participants must have made at least one significant

purchase, such as electronics, vehicles, real estate, or luxury items,

within the past 12 months. This criterion guarantees that their

experiences with buyer's remorse are recent and reflective of current

market conditions. Additionally, respondents must be able to reflect on

and articulate their feelings and thoughts regarding these purchases,

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offering valuable insights into generational differences in buyer's

remorse. All participants must be willing to provide informed consent

and actively participate in the study through surveys or interviews.

The study will exclude individuals who do not fall within the

specified age ranges of 29 to 59 years old, as well as those who do not

belong to the defined generational cohorts of Generation X and

Generation Y. Additionally, those who have not made any significant

purchases within the past year will be excluded, as their experiences

may not align with the study's focus on recent buyer's remorse.

Participants who are unable to provide informed consent or fully

engage in the study process will also be excluded to ensure the

integrity and reliability of the research data.

Locale of the Study

Figure 2.
Dagupan City
The study will be centered on Dagupan City, Pangasinan. Aside

from resource limits and respondent limitations, the area was chosen
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to exhibit a broad demographic profile that corresponds to the

generational cohorts being studied.

Dagupan City, Pangasinan, serves as an ideal locale for the study

"Analyzing Buyer's Remorse Across Generations" due to its diverse

demographic composition and socio-economic landscape. As a bustling

urban center in the Philippines, Dagupan City offers a rich tapestry of

generational cohorts, ranging Generation Y and Generation X,

providing ample opportunity to examine buyer's remorse across

different age groups. Additionally, the city's vibrant retail environment

and consumer market present a conducive setting for comparative

analysis, allowing researchers to explore variations in consumer

behavior and purchasing decisions across generations.

By selecting Dagupan City as the study's locale, the researchers

aim to gain valuable insights into the nuanced dynamics of buyer's

remorse within the context of a rapidly evolving urban community.

Instrumentation and Data Collection

In order to conduct the study, the researchers will make use of

survey questionnaires as a fundamental instrument to gather data for

the research. The researcher prepared an English questionnaire, that

will be give to the respondents of generation Y and generation X to

understand the question. The researchers developed a self-made

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survey and questionnaire designed to collect quantitative data on the

respondents. The self-created survey questionnaire is validated

through a thorough research proposal, supervised by a group of

experienced panelists who will guarantee its precision. These tools

provide a methodical technique to systematically gather data on

customer demographics and preferences for studying buyer's regret

across different generations. It may be necessary to customize the

questions to fit the particular circumstances and goals of the research.

The questionnaires will be given and answered by the respondents in

Dagupan City. The researchers will conduct the survey directly to the

respondents in Dagupan City, so that the survey will be easily

answered and fulfill the information needed.

The survey questionnaire will consist of two parts, capturing the

respondent's profile, collecting information via checklist such as age,

sex, job rank, monthly income, educational attainment, and entities

purchase with regret. The second part will consist of the factors that

generational influences impact on the likelihood to experience buyer’s

remorse. This will be rated according to 5 levels to be chosen by

respondents namely; 5 - Strongly Agree, 4 – Agree, 3 – Slightly Agree,

2 - Disagree and 1 – Strongly Disagree, with an equivalent rating of 5 -

Extreme Influence, 4 - High Influence, 3 – Moderate Influence, 2 – Minor

Influence, and 1 – No Influence.

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Participants will be presented with a series of statements

pertaining to various factors influencing buyer's remorse, such as price

sensitivity, product satisfaction, and comparison behaviors. They will

then be asked to indicate their level of agreement or disagreement

with each statement on a predefined scale, typically ranging from

"strongly agree" to "strongly disagree." The responses collected

through Likert scales will provide valuable quantitative data that can

be statistically analyzed to identify patterns, trends, and differences in

buyer's remorse experiences among different generational cohorts. By

incorporating Likert

scales into the research methodology, the study aims to gain a deeper

understanding of how buyer's remorse manifests across generations

and to elucidate the factors driving these differences.

This process will aim to provide a deeper understanding of the

post-purchase regret across Generation Y and Generation X.

Throughout the study process, ethical concerns will be necessary to

guarantee participant anonymity and informed consent.

Ethical Considerations

Ethical considerations are a top priority. Participants will be fully

informed about the study's objectives and procedures, ensuring they

provide informed consent before participating. Participation is entirely

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voluntary, and respondents can withdraw from the study at any time

without any consequences. To protect participants' privacy, all

personal data will be anonymized and securely stored, with strict

confidentiality maintained throughout the research process.

Additionally, all collected data will be deleted after its use in the study

to ensure participants' information is not misused or retained

unnecessarily.

Tools for Data Analysis

To organize, analyze, and visualize data, the researchers will

make use of the following tools, each of which has special functionality

designed for certain elements of data analysis. The particulars of the

research topic, the type of data, and the researcher's level of technical

proficiency all influence the tool selection.

Percentage and Frequency

The quantitative data on the respondents' profile, including age,

sex, job rank, monthly income, educational level, and types of products

purchased with regret, will be reported in frequency and percentage.

Using frequencies and percentages to display quantitative data is

critical for quickly summarizing, interpreting, and communicating the

features of the surveyed population, thereby providing substantial

insights into the study's findings and their broader implications.

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Appropriate statistical approaches will be used in data analysis to find

trends and connections between pricing policies and customer

preferences.

The formula for calculating the percentage was as follows:

f
P= (100 %)
n

Where:

• 𝑃 = percentage equivalent

• 𝑓 = the total number of respondents

• 𝑛 = sample size

Average Weighted Mean

The researchers will use Average Weighted Mean, in using the

average weighted mean in analyzing buyer's remorse across

generations. First, researchers will define the variables involved in the

study. These variables could include factors related to buyer's remorse

(e.g., intensity, frequency, duration) and generational categories of

Generation X and Y.

Once the researchers define variables, researchers can collect

data from a sample of individuals from each generational group

regarding their experiences with buyer's remorse. Each respondent's

level of buyer's remorse can be rated on a scale (e.g., 1 to 5) based on

the defined factors.

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Next, researcher assign weights to each generational group of X

and Y based on their proportion in the population or their significance

in the study. For example, if Generation Y represent a larger portion of

the population compared to Generation X, their responses may carry

more weight in the analysis.

Finally, researcher will calculate the average weighted mean for

each generational group. This involves multiplying each respondent's

buyer's remorse rating by the weight assigned to their generational

group, summing these values across all respondents within the group,

and dividing by the total number of respondents in that group.

By using the average weighted mean, researchers can analyze

buyer's remorse across generations while accounting for differences in

sample sizes or the importance of each generational group in the

study. This method provides a more understanding of how buyer's

remorse varies among Generation X and Y.

The formula for calculating the average weighted mean is:

Average Weighted Mean =

Where:

• x i represents each data point (e.g., respondent's rating for a

pricing strategy).
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• w i represents the weight assigned to each data point (e.g., the

importance or relevance of the rating).

• n is the total number of data points.

To interpret the weighted mean for the problem 2 the following

descriptive table will be used.

Numeric Statistic Descriptive Rating Descriptive

al al Interpretation
Values Values
5 4.50-5.00 Strongly Agree Extreme
Influence
4 3.50-4.49 Agree High Influence
3 2.50-3.49 Slightly Agree Moderate
Influence
2 1.50-2.49 Disagree Minor Influence
1 1.00-1.50 Strongly Disagree No Influence
Chi-Square Test

For problem number 3, the researchers will also utilized chi-

square test. By conducting Chi-square tests for independence,

researchers can investigate potential associations between

generational cohorts and the variables of sex, monthly income, and

types of purchases leading to regret within each generation. This

statistical method allows for the assessment of any significant

relationships between these profile characteristics and the likelihood or

nature of buyer remorse experienced by individuals in different

generational groups. Through the application of Chi-square tests, the

study can offer insights into how demographic factors may intersect
 Lyceum-Northwestern University – College of P a g e | 30
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with generational differences in shaping consumer behaviors and

attitudes towards post-purchase regret.

The formula for calculating the chi-square test is follows:

2
2 (Oi−Ei )
x =Σ
Ei

Where:

 x = chi squared
2

 Oi = observed value

 Ei = expected value

 r = 0 indicates no linear relationship between the variables

Bibliography

WEBSITES

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20, 2024

from

https://dictionary.cambridge.org/dictionary/english/consumer-

behaviour?q=consumer+behavior

Cambridge Dictionary, 2024. Consumer Expectations. Retrieved on

March 22,
 Lyceum-Northwestern University – College of P a g e | 31
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2024 from

https://www.cambridge.org/core/books/consumerexpectations/F6

F29602AB5CFCE3AAF8C6A204479C8D/listing?

q=consumer+expectations&fts=yes&searchWithinIds=F6F29602

AB5CFCE3AAF8C6A204479C8D&aggs%5BproductTypes%5D

%5Bfilters%5D=BOOK_PAT

Cambridge Dictionary, 2024. Event. Retrieved on April 20, 2024

from

https://dictionary.cambridge.org/dictionary/english/event?

q=events+

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from

https://dictionary.cambridge.org/dictionary/english/executive

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from

https://dictionary.cambridge.org/dictionary/english/intriguing

Cambridge Dictionary, 2024. Mode of payments. Retrieved on April

20, 2024

from https://dictionary.cambridge.org/dictionary/english/mode-of-

payment

Cambridge Dictionary, 2024. Technological. Retrieved on April 20,

2024 from
 Lyceum-Northwestern University – College of P a g e | 32
Business Education
https://dictionary.cambridge.org/us/dictionary/english/

technological

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from

https://www.collinsdictionary.com/dictionary/english/generation-x

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https://www.collinsdictionary.com/dictionary/english/service

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from

https://www.merriam-webster.com/dictionary/entry-level

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from

https://www.merriamwebster.com/dictionary/Generation%20Y

Oxford Learner’s Dictionaries, 2024. buyer’s remorse. Retrieved

on April 20,

2024 from

https://www.oxfordlearnersdictionaries.com/us/definition/english/

buyer-s-remorse?q=buyer%27s+remorse

Oxford Learner’s Dictionaries, 2024. Entity. Retrieved on April 20,

2024
 Lyceum-Northwestern University – College of P a g e | 33
Business Education
from

https://www.oxfordlearnersdictionaries.com/us/definition/english/

entity?q=entities

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April 20,

2024 from

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experience_1?q=experience+

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Legal

Meaning. Retrieved on April 20, 2024 from

https://thelawdictionary.org/levels-of-management/

Vocabulary Dictionary, n.d. Intermediate. Retrieved on April 20,

2024 from

https://www.vocabulary.com/dictionary/intermediate

ONLINE JOURNALS

CapitalOne, 2022. What is buyer’s remorse? And how to avoid it?

Retrieved on

March 20, 2024 from

https://www.capitalone.com/learn-grow/money-management/buy

ers-remorse/
 Lyceum-Northwestern University – College of P a g e | 34
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Craciun and Moore, 2019 & Ismagilova et.al., 2020.

Consequences of

consumer regret with online shopping. Retrieved on March 19,

2024 from

https://9www.sciencedirect.com/science/article/pii/S0969698923

000796?

fbclid=IwAR2E5n6514y0iN5BX2Gai_R8_3bgp5E5OGUqT65ZJiJJ-

vXW-b6pGHURBII

Linkedin, 2023. Understanding Generational Differences in Consumer

Behavior.

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https://www.linkedin.com/pulse/understanding-generational-

differences-consumer-behavior

Macleod, S., 2023. What Is Cognitive Dissonance Theory? Retrieved

on June

25, 2024 from https://www.simplypsychology.org/cognitive-

dissonance.html

Mrikyan, et.al., 2023. Cognitive Dissonance in Technology Adoption:

A Study of

Smart Home Users Retrieved on June 25, 2024 from

https://link.springer.com/article/10.1007/s10796-020-10042-3
 Lyceum-Northwestern University – College of P a g e | 35
Business Education
Parsad, et.al., 2019. Consequences of consumer regret with online

shopping.

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https://9www.sciencedirect.com/science/article/pii/S0969698923

000796?

fbclid=IwAR2E5n6514y0iN5BX2Gai_R8_3bgp5E5OGUqT65ZJiJJ-

vXW-b6pGHURBII

Vaidis, D., 2020. Cognitive Dissonance Theory. Retrieved on March

19, 2024

from

https://www.oxfordbibliographies.com/display/document/obo978

0199828340/obo-978019828340-0156.xml?

fbclid=IwAR1e9gaJCM-4JmbJI7kOYQ-Jde0MtWlsHxRAvJX3so-

5tzY5UQ6YRIJ5Nwg
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APPENDIX A
(Informed Consent)

INFORMED CONSENT

Dear Participant,
We are researchers Angelica Andrea L. Diolazo and Neil Jhon M. Gallaza, students
at Lyceum Northwestern University, are currently conducting a study entitled "Analyzing
 Lyceum-Northwestern University – College of P a g e | 37
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Buyer’s Remorse Across Generation." Our objective is examining how buyer's remorse
varies among different generations and identify the underlying factors influencing these
differences.
If you choose to participate in this study, you will be asked to complete a brief
survey questionnaire. The survey will take only a few minutes to complete and consists of
close-ended questions using a Likert scale. Participation is entirely voluntary, and you
may withdraw at any time without any consequences.
We assure you that your responses will remain confidential. Your identity will be
kept anonymous, and the information you provide will be used solely for research
purposes. Only the researchers involved in this study will have access to the data.
Your participation in this survey will greatly contribute to our understanding of
how pricing strategies influence consumer preferences in the technology gadgets market.
Your involvement will benefit not only us, the researchers, but also future scholars
interested in similar studies.
If you have any questions or need further clarification regarding the survey, please
feel free to contact us. We are here to address any concerns you may have during the
survey process.
Thank you for your time and participation.
Sincerely,
Name of Researchers:

Angelica Andrea L. Diolazo Neil Jhon M. Gallaza

______________________________________________________________________
Participants Statement of Agreement
I have read and understood the letter above. I understand the purpose of the
survey questionnaire and I understand that the information I will provide will be used by
the researchers for their study. I understand that all information will be kept confidential.
I voluntarily agreed to take part in the survey questionnaire conducted by Angelica
Andrea L. Diolazo and Neil Jhon M. Gallaza. I grant them my permission to take pictures
of the survey session.

________________________ __________________
Signature over Printed Name Date
 Lyceum-Northwestern University – College of P a g e | 38
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APPENDIX B
(Survey Questionnaire)

ANALYZING BUYER’S REMORSE ACROSS GENERATION

Survey and Questionnaire
General Direction: Kindly check (✓) the information asked for and
answer all
 Lyceum-Northwestern University – College of P a g e | 39
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items as honestly as you can. Each part of this survey has specific
directions to
assist you in making choices.
Part I. Profile of Respondents
Directions: Put a check (✔) in the box provided.
1. The profile of the respondents as to;
a. Age:

 Generation X (41-56 years old)

 Generation Y/Millennials (25-40 years old)
a. Sex:

 Male
 Female
b. Job rank:

 Executive or senior management

 Middle Management
 First–level management
 Intermediate or experienced
 Enter–level
 Others: ______________________________
c. Monthly household income:

 20,000 – 30,000
 31,000 – 40,000
 41,000 – 50,000
 Lyceum-Northwestern University – College of P a g e | 40
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 51,000 – 60,000
 61,000 and above
d. Educational attainment:

 Elementary Graduate
 High School Graduate
 College Graduate
 Others: ___________________________________________
e. Types of entities purchased with regret:

 Goods (e.g. Branded Clothes, Luxury Bags, Gadgets,

etc.)
 Services (e.g. Membership Cards, Travel Book Service,
Pet Service, etc.)
 Events (e.g. Birthday, christening, Wedding Anniversary
etc.)

 Experiences (e.g. Making Impulsive Major Purchase,

Falling Victim to Scam or Fraud, Ignoring Retirements
Savings, etc.)
 Places (e.g. Rural or Remote Properties, Properties in
High Crime Areas, Properties in Flood Prone Areas, etc.)
 Properties (e.g. Real Estate, Historic Homes with High
Maintenance Costs, Tiny House, etc.)
 Others: __________________________________________
 Lyceum-Northwestern University – College of P a g e | 41
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Part II. Factors Influencing Buyer's Remorse Across

Generations.

Directions: Rate the following information on scale of 1-5 based on

the preferred pricing strategies by putting a check mark (✓) on the
column that best corresponds to your answer.
5 – Strongly Agree
4 - Agree
3 – Slightly Agree
2 – Disagree
1 – Strongly Disagree

2. The factors influencing buyer's remorse across generations

in terms of:
a. Price

1 2 3 5 5

1. I often experience buyer's remorse when I

realize I could have purchased the same item for a
lower price elsewhere.
2. Finding the lowest price is my top priority when
making purchasing decisions.
3. Paying a higher price for a product makes me
feel more satisfied with my purchase.
4. I feel disappointed when I miss out on a good
deal or discount for a product I recently bought.
5. Bargain hunting is an essential part of my
shopping behavior, and I feel accomplished when I
find a great deal.
6. I regret purchases more when I feel I have
overspent or paid too much.
 Lyceum-Northwestern University – College of P a g e | 42
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7. Price fluctuations or discounts after I've made a
purchase often led to feelings of regret or
dissatisfaction.
8. I tend to make impulse purchases without
considering the price, leading to buyer's remorse
later.
9. I am generally satisfied with my purchases, even
if I later discover I could have paid less elsewhere.
10. Paying a higher price for a product increases its
perceived value in my eyes and reduces the
likelihood of buyer's remorse.

b. Technological
Influences

1 2 3 4 5
1. I experience buyer's remorse when I purchase a
technological gadget that does not meet my
expectations or lacks the features I desired.
2. Technological advancements often lead me to feel
regretful about previous purchases, as newer
models with better features become available.
3. I feel more satisfied with my purchases when I
invest in the latest technological innovations, even if
they come at a higher price.
4. The constant evolution of technology makes it
challenging for me to avoid buyer's remorse, as I
often second-guess my decisions when new
products are released.
5. I prioritize purchasing technology products that
offer longevity and durability to minimize the
chances of experiencing buyer's remorse.
6. I regret purchasing technology products that
become obsolete quickly or fail to keep up with
industry standards.
7. Buyer's remorse is more prevalent for me when I
invest in expensive technology products that do not
perform as expected or advertised.
8. I often experience dissatisfaction with my
technology purchases when I encounter technical
issues or malfunctions shortly after buying them.
9. Researching and comparing different
technological options help me mitigate buyer's
 Lyceum-Northwestern University – College of P a g e | 43
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remorse by ensuring I make informed decisions.
10. The rapid pace of technological innovation adds
excitement to my purchasing decisions but also
increases the likelihood of experiencing buyer's
remorse if I feel I made the wrong choice.
 Lyceum-Northwestern University – College of P a g e | 44
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c. Mode of Payment

1 2 3 4 5
1. Paying with cash reduces the likelihood of
experiencing buyer’s remorse because it provides a
tangible sense of spending and limits impulse
purchases.
2. Using credit cards often leads to buyer’s remorse,
especially among younger generations, due to the
ease of overspending and accumulating debt.
3. Mobile payment apps like Apple Pay or Google Pay
contribute to impulse buying and subsequent regret,
particularly among tech-savvy millennials and Gen
Z.
4. Paying with debit cards offers a compromise
between convenience and financial responsibility,
resulting in fewer instances of buyer’s remorse
across all age groups.
5. Cashback and reward points earned from credit
card purchases may mitigate buyer’s remorse by
providing incentives and discounts on future
transactions.
6. Online payment platforms such as PayPal or
Venmo make it easier to overspend and experience
regret, especially when coupled with one-click
purchasing options.
7. Splitting payments across multiple methods, like
using a combination of cash and credit, can lead to
confusion and increase the likelihood of buyer’s
remorse.
8. Deferred payment options, such as installment
plans or layaway, may alleviate immediate financial
strain but often result in long-term regret,
particularly among older generations.
9. Contactless payment methods, including tap-and-
go cards or mobile wallets, promote impulse buying
behavior and subsequently higher levels of buyer’s
remorse.
10. Budgeting and tracking expenses through
personal finance apps or tools can help individuals
of all generations manage their spending and
reduce the incidence of buyer’s remorse.
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d. Consumer Expectation

1 2 3 4 5
1. I often compare my purchases with those of
others in my age group to gauge their suitability.
2. The opinions and experiences of people in my age
group significantly influence my expectations about
a product's performance.
3. I consider the views of others in my age group
when making purchasing decisions, but they do not
heavily impact my expectations.
4. I base my expectations of a product solely on its
advertised features and specifications, rather than
the opinions of others.
5. The purchasing decisions of others in my age
group have no bearing on my expectations of a
product's quality or effectiveness.
6. I often find myself comparing my purchases with
those of others in my age group to assess their
value for money.
7. Knowing what others in my age group have
purchased influences my perceptions of what
constitutes a good buy.
8. While I sometimes consider the purchases of
others in my age group, my expectations are
primarily shaped by my own research and
preferences.
9. I rarely compare my purchases with those of
others in my age group, as my expectations are
based on my individual needs and preferences.
10. I form my expectations of a product
independently, without reference to the purchasing
decisions of others in my age group.
 Lyceum-Northwestern University – College of P a g e | 46
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APPENDIX C
(Letter of Request for
Ethical Review)
 Lyceum-Northwestern University – College of P a g e | 47
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LETTER OF REQUEST FOR ETHICAL REVIEW

September 11, 2024

DR. RONALD P. CABRAL

Chairman, University Research Ethics Board
Lyceum-Northwestern University

Dear Dr.:
Greetings of peace and prosperity!
As part of fulfilling the requirements for the Bachelor of Science in Business
Administration with a Major in Marketing Management, we are conducting a study titled
"Analyzing Buyer’s Remorse Across Generation." We respectfully seek an ethical review
of our study from your esteemed office before we proceed with distributing and
conducting interviews with our respondents.
We assure you that all collected information will be handled with the highest level
of confidentiality and used exclusively for academic purposes. We sincerely hope for
your favorable consideration of this request.

Respectfully yours,

DIOLAZO, ANGELICA ANDREA L.

GALLAZA, NEIL JHON M.

Researchers

Noted by;

MIA M. FERNANDEZ LPT, MBA

Research Instructor

DR. GENOVEVA Y. REYES CPA, FRIAcc

Dean, L-NU College of Business Education

Approved by:
 Lyceum-Northwestern University – College of P a g e | 48
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__________________ _________________ __________________
Name Signature Date

APPENDIX D
(Total Population of the
Respondents and
Calculation of Sample Size)
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The Official Website of the City Government of Dagupan

 Lyceum-Northwestern University – College of P a g e | 50
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Breakdown of the Total Number of Respondents

Age Number of Population
45-49 9,394
50-54 7,826
55-59 6,508
Total 23,728

Sample Size Calculation Using Slovin’s Formula

Ni
ni = 2
1+ N i e i

ni =?
N i=23,728
2
e i =5 %∨0.005

23,728
ni = 2
1+(23,728)(0.05).

23,728i
ni = .
1+(23,728)(0.0025).

23,728i
ni =
1+59.32

23,728i
ni =
60.32

ni =393.36 ~ 393 sample size