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Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)
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Marketing Research Project (quantitative using SPSS and SmartPLS) on "Factors affecting consumer’s resistance towards a biotechnological innovation in healthcare - A study of Umbilical Stem Cell Banking in India" by Aviroop Banik (Rizvi College)

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Background: A new buzzword “STEM CELL BANKING” is slowly but continuously engulfing …

Background: A new buzzword “STEM CELL BANKING” is slowly but continuously engulfing
the consumers’ attention in India. In India, the industry put-together has banked about >70,000
cord blood units over the last three years. This number is set to increase substantially with
increased market reach and awareness; increase in regulatory approvals for stem cells based
products and lowered resistance to private banking will together encourage more clients to
choose stem cell banking.
Problem: Like every new innovation which comes to the market faces strong resistance from
consumer side, Stem cell banking is also facing heat of resistance from Indian consumers. Many
companies (both domestic and international) have started umbilical cord stem cell banking
business, but they have not yet successful towards lowering consumer resistance towards this
service. This banking service is only limited to attract financially robust consumers (but still, not
everyone is enrolling).The other lower sections still need to be tapped to generate more
revenues.
Purpose: The purpose of this study is to identify and analyze the relationship between
consumers' resistance and different factors from innovation and consumers' characteristics.
Thereafter, important factors are identified that mainly affect/determine consumers' resistance to
stem cell banking. Moreover, the inter-relationship (correlation) among the selected factors is
found out, to know the affects of each factor on other factors.
Method: A theoretical model has been proposed from the hypotheses; and Structural Equation
Modeling has been applied, where results are estimated through Partial Least Square method
using a sample of 100 respondents from Mumbai, B’lore, Gujarat, Tripura (by sending Equestionnaires
and personal discussions). SmartPLS2.0 software has been used to estimate
results along with SPSS 12.0.
Conclusions: Four out of eight hypotheses have been supported by the empirical data, where H1
i.e. relative advantage, H3 i.e. complexity, and H4 i.e. perceived risk, are from innovation
characteristics, while H6 i.e. motivation, is from consumers' characteristics. Motivation,
Complexity, Relative Advantage, and Perceived Risk are found as important factors that
affect/determine consumers' resistance to stem cell banking. Relative Advantage & Motivation
are found as positively correlated, and Perceived Risk & Complexity are found as positively
correlated. Negative correlation has been found between Perceived Risk and Relative advantage.
Similarly, negative correlation has also been found between motivation and complexity. The
proposed model of consumers’ resistance to stem cell banking shows an acceptable goodness of
fit, where 90% (R-square value) of variation in consumers’ resistance is caused/explained by the
hypothesized factors

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  • 1. TITLEFactors affecting consumers’ resistance towards a healthcare innovation. -A study of umbilical cord Stem Cell Banking in India-
  • 2. Rizvi Institute of Management Studies and Research Off Carter road, Bandra(W), Mumbai-400 050Marketing Thesis School of Marketing2012-01-22Factors affecting consumers’ resistance towardsa healthcare innovation - A study of umbilicalcord Stem Cell Banking in India.Aviroop BanikRizvi Institute of Management Studies and Research, aviroopbanik@gmail.comThis marketing thesis is brought to you by Mr.Aviroop Banik and is accessible to all marketing andresearch protagonists in Rizvi Institute of Management Studies and Research.It has been accepted for inclusion in marketing research omnibus.For more information, please contact aviroopbanik@gmail.com,info@rmi.rizvi.edu.in
  • 3. A Project Report on“Factors affecting consumers’ resistance towards a healthcare innovation. -A study of umbilical cord Stem Cell Banking in India.” in partial fulfillment of the requirement of Post Graduate Diploma in Business Management (PGDBM) conducted by Rizvi Academy of Management under the Guidance of Dr. Kalim Khan Submitted by: Aviroop Banik PGDBM (MARKETING) (Batch: 2009-11)
  • 4. DECLARATIONI declare that the project titled “Factors affecting consumers’ resistance towards a healthcareinnovation. - A study of umbilical cord Stem Cell Banking in India.” is a record of themarketing research carried out by me during the academic year 2009-2011 under the guidance ofmy guide Dr. Kalim Khan, Director, Rizvi Academy of Management.I also declare that this project is the result of my effort and has not been submitted to any otheruniversity for the award of any degree, or personal favour whatsoever. All the details and dataanalysis provided in the report hold true to the best of my knowledge. Aviroop Banik PGDBM (Marketing) (2009-2011)
  • 5. CERTIFICATEThis is to certify that Mr. Aviroop Banik, a student of Post Graduate Diploma in BusinessManagement (PGDBM), from Rizvi Academy of Management, specializing in Marketing hassuccessfully completed the project titled “Factors affecting consumers’ resistance towards ahealthcare innovation. - A study of umbilical cord Stem Cell Banking in India.” under theguidance of Dr. Kalim Khan, Director, Rizvi Academy of Management in partial fulfillment ofthe requirement of Post Graduate Diploma in Business Management (PGDBM), by RizviAcademy of Management, for the academic year 2009-11.This is to certify that the project work is done under my guidance and supervision at RizviAcademy of Management and the same is approved by, Prof. (Dr). Kalim Khan (Project Guide)
  • 6. ACKNOWLEDGEMENTI have taken sincere efforts in this marketing research project. However, it would not have beenpossible without the kind support and help of many individuals. I owe great many thanks to greatmany people, who helped and supported me during undertaking this project work. I would like toextend my sincere thanks to all of them. I take this opportunity to express my gratitude to thepeople who have been instrumental in the successful completion of this project.Words are inadequate in offering my sincere thanks to Dr. Kalim Khan, Director – RizviAcademy of Management, for having permitted me to carry out this project work.It was his able guidance at each step, constant feedback, encouragement, patience, cooperationand useful suggestions, which has supported me in completing the project work.I also sincerely thank all the respondents for filling up my questionnaire and thereby contributingtowards my project work.Finally, yet importantly, I would like to express my heartfelt thanks to my beloved parents fortheir blessings, my friends for their help and wishes for the successful completion of this project. Aviroop Banik PGDBM (Marketing)
  • 7. -Table of contents-Sl. no. Head Page no.1 Introduction of Stem cells 11.2 Umbilical cord blood 11.3 What are stem cells? 1-21.4 The history of cord blood stem cells 31.5 How cord blood is collected 31.6 Types of stem cells 31.7 Sources of stem cells 41.8 Stem cells functioning 51.9 Best type of stem cells for therapy 51.10 Advantages of cord blood cells 5-61.11 Potential of stem cells 62 What is Stem Cell Banking? 72.1 Why it is recommended? 82.2 Benefits 82.3 Difference between stem cells from cord blood v/s bone marrow 82.4 Procedure of banking 8-92.5 Enrollment 92.6 Umbilical cord collection - Kit contents 92.7 Cord blood and tissue collection 9-102.8 Cord blood collection 102.9 Processing 10-112.10 Preservation 11-122.11 Stem Cell Cryopreservation 132.12 How banked stem cells can help children 142.13 Where to bank child’s stem cells in India? 142.14 Private Banks vs Public Banks 152.15 Facts about stem cell banking in India 162.16 Stem cell treatment miracles 17-193 Background of stem cell banking in India 203.1 India: A Growing Potential 203.2 The players 20-213.3 Marketing the Concept 223.4 Expanding Wings 22-233.5 Cost Dynamics 23
  • 8. 3.6 Public v/s Private — will it survive? 243.7 Challenges 253.8 Future Prospects 25-264 Problem discussion 274.1 Research questions 28-294.2 Purpose 304.2.1 Hypothesis 314.2.2 Regression coefficients and Correlation 315 Frame of reference 325.1 Innovation 325.1.1 Technological Innovation 325.1.2 Types of Innovation 33-345.2 What is consumer resistance? 355.2.1 Factors affecting consumer resistance 355.2.2 Why understanding of these above factors is important? 365.3 Resistance models 36-375.4 Factors Affecting Consumers’ Resistance 375.4.1 Innovation Characteristics Factors 375.4.2 Consumers Characteristics Factors 375.5 Hypotheses formulation 385.5.1 Relative Advantage 385.5.2 Compatibility 385.5.3 Complexity 385.5.4 Perceived Risk 395.5.5 Expectation for better products 395.5.6 Motivation 395.5.7 Attitude towards existing products 395.5.8 Self-Efficacy 405.6 Innovation Characteristics Factors 40-435.7 Consumers Characteristics Factors 44-455.8 Theoretical Model of Consumers Resistance to stem cell banking 46-476 Quantitative Methods 486.1 Research philosophy 48-496.2 Research method 496.3 Research strategy 49-506.4 Data collection 506.5 Sampling 50-51
  • 9. 6.5.1 Sampling plan 516.5.2 Sample size 526.5.3 Sampling procedure 526.6 Contact methods 526.7 Data analysis and tools 536.8 Statistical methods 536.8.1 Hypothesis testing 546.8.1.1 SmartPLS-Partial Least Square (PLS) 54-556.8.1.2 Correlation 557 Analysis by SmartPLS2.0 567.1 Testing hypotheses 567.1.1 Partial least square 567.1.1.1 Empirical model of consumer resistance to stem cell banking showing 57 regression coefficients and factor loadings derived from SmartPLS7.1.1.2 Factors relationship with consumer resistance represented by t-values 58 using SmartPLS7.2 Results discussion 59-627.3 Regression equation 63-647.4 Factors inter-relationship (Correlation) 65-688 Conclusion 69-718.1 Suggestions for further research 719 Descriptive statistics - Analysis by SPSS 12.0 72-10410 Cross tabulation 10510.1 Education * Rejection to adopt SCB among respondents 106-10710.2 Annual income * Rejection to adopt SCB among respondents 108-10910.3 Annual income * Opposition to adopt stem cell banking (thinking it’s a 110-111 wastage of money)11 Factors inter-relationship - Correlation using SPSS 12.0 11211.1 Positive correlation between factors 113-13311.2 Negative correlation between factors 134-14812 Regression using SPSS12.0 149-20113 Conclusion from SPSS analysis 20214 Bibliography 20315 Questionnaire 204-20816 Few success stories related to stem cell treatment in India 209-217
  • 10. List of Figures & Tables:Fig 1 ............................................................................................................................................... 1Fig 2 ............................................................................................................................................... 2Fig 3 ................................................................................................................................................6Fig 4 ................................................................................................................................................7Fig 5 ............................................................................................................................................. 12Fig 6 ..............................................................................................................................................17Fig 7 ............................................................................................................................................. 18Fig 8 ............................................................................................................................................. 19Fig 9 ............................................................................................................................................. 30Fig 10 ............................................................................................................................................47Fig 11 ............................................................................................................................................54Fig 12 ............................................................................................................................................55Fig 13 ............................................................................................................................................57Fig 14 ............................................................................................................................................58Table 1 ..........................................................................................................................................59Table 2 ..........................................................................................................................................61Table 3 ..........................................................................................................................................65List of abbreviations used: CMPLX Complexity of understanding and using stem cell banking COMPA Compatibility of stem cell banking CR Consumer Resistance towards stem cell banking PPM Postponement to adopt stem cell banking OPPO Opposition for stem cell banking REJEC Rejection to stem cell banking EXFBS Expectation For Better Services MOTI Motivation to use stem cell banking PR Perceived Risk towards stem cell banking RA Relative Advantage of stem cell banking SE Self Efficacy of stem cell banking ATTEHS Attitude Towards Existing Healthcare Services/operation etc I.V Independent variable D.V Dependent variable PLS Partial Least Square SPSS Statistical Package for the Social SciencesNote: In this marketing thesis, stem cell banking company represents only private stem cellbanking company, NOT public.
  • 11. Two statistical softwares are used for data analysis
  • 12. AbstractBackground: A new buzzword “STEM CELL BANKING” is slowly but continuously engulfingthe consumers’ attention in India. In India, the industry put-together has banked about >70,000cord blood units over the last three years. This number is set to increase substantially withincreased market reach and awareness; increase in regulatory approvals for stem cells basedproducts and lowered resistance to private banking will together encourage more clients tochoose stem cell banking.Problem: Like every new innovation which comes to the market faces strong resistance fromconsumer side, Stem cell banking is also facing heat of resistance from Indian consumers. Manycompanies (both domestic and international) have started umbilical cord stem cell bankingbusiness, but they have not yet successful towards lowering consumer resistance towards thisservice. This banking service is only limited to attract financially robust consumers (but still, noteveryone is enrolling).The other lower sections still need to be tapped to generate morerevenues.Purpose: The purpose of this study is to identify and analyze the relationship betweenconsumers resistance and different factors from innovation and consumers characteristics.Thereafter, important factors are identified that mainly affect/determine consumers resistance tostem cell banking. Moreover, the inter-relationship (correlation) among the selected factors isfound out, to know the affects of each factor on other factors.Method: A theoretical model has been proposed from the hypotheses; and Structural EquationModeling has been applied, where results are estimated through Partial Least Square methodusing a sample of 100 respondents from Mumbai, B’lore, Gujarat, Tripura (by sending E-questionnaires and personal discussions). SmartPLS2.0 software has been used to estimateresults along with SPSS 12.0.Conclusions: Four out of eight hypotheses have been supported by the empirical data, where H1i.e. relative advantage, H3 i.e. complexity, and H4 i.e. perceived risk, are from innovationcharacteristics, while H6 i.e. motivation, is from consumers characteristics. Motivation,Complexity, Relative Advantage, and Perceived Risk are found as important factors thataffect/determine consumers resistance to stem cell banking. Relative Advantage & Motivationare found as positively correlated, and Perceived Risk & Complexity are found as positivelycorrelated. Negative correlation has been found between Perceived Risk and Relative advantage.Similarly, negative correlation has also been found between motivation and complexity. Theproposed model of consumers’ resistance to stem cell banking shows an acceptable goodness offit, where 90% (R-square value) of variation in consumers’ resistance is caused/explained by thehypothesized factors.
  • 13. BY AVIROOP MARKETING THESIS BANIK 1. Introduction of Stem cell bankingBefore we understand the concept of umbilical cord blood stem cells and its banking process,first let us warm our hands with the concept of umbilical cord blood. 1.2 Umbilical cord bloodAfter a baby is born and the umbilical cord is cut, some blood remains in the blood vessels of theplacenta and the portion of the umbilical cord that remains attached to it. After birth, the baby nolonger needs this extra blood. This blood is called placental blood or umbilical cord blood: "cordblood" for short.Cord blood contains all the normal elements of blood - red blood cells, white blood cells,platelets and plasma. But it is also rich in hematopoietic (blood-forming) stem cells, similar tothose found in bone marrow. This is why cord blood can be used for transplantation as analternative to bone marrow.Cord blood is being used increasingly as a source of stem cells, as an alternative to bone marrow.Most cord blood transplants have been performed in patients with blood and immune systemdiseases. Cord Blood transplants have also been performed for patients with genetic or metabolicdiseases. More than 80 different diseases have been treated to date with unrelated cord bloodtransplants 1.3 What are stem cells?The human body has more than 200 types of cellsand they all perform designated tasks. For example,fat cells store fat, skin cells protect the skin, redblood cells carry oxygen and white blood cells fightantibodies.Stem cells: Stem cells are the "master" cells that actas building blocks of the body.Properties of stem cells: They are undifferentiated,blank cells that do not have a specific function.Characteristically, stem cells have a high capacity forself-renewal and a unique ability to differentiate into Fig: 1- Stem cell 1
  • 14. BY AVIROOP MARKETING THESIS BANIKa variety of cells. Stem cells serve as a repair system for the body and can divide without limit toreplenish other cells.Self-regeneration is the ability of stem cells to divide and produce more stem cells. During earlydevelopment, the cell division is symmetrical i.e. each cell divides to gives rise to daughter cellseach with the same potential. Later in development, the cell divides asymmetrically with one ofthe daughter cells produced also a stem cell and the other a more differentiated cell.Stem cells are the building blocks of various organs and tissues in the body. Stem cells have theremarkable potential to develop into many different cell types in the body. Serving as a sort ofrepair system for the body, they can theoretically divide without limit to replenish other cells aslong as the person or animal is still alive. When a stem cell divides, each new cell has thepotential to either remain a stem cell or become another type of cell with a more specializedfunction, such as a muscle cell, a red blood cell, or a brain cell. Fig: 2- Functions of Stem cell 2
  • 15. BY AVIROOP MARKETING THESIS BANIK 1.4 The history of cord blood stem cellsIn the 1970s, it was discovered that umbilical cord blood (blood that remains in the placenta andin the attached umbilical cord after childbirth) could be the source of blood-forming stem cells,cells that are capable of developing into the three types of mature blood cells present in blood;namely the red blood cells, white blood cells, and platelets.In 1988, French researchers used umbilical cord blood of a new born to treat his five-year-oldsibling who suffered from Fanconi’s anemia (a severe type of anaemia that can cause skeletaldefects); the first successful stem cell transplantation.Cord blood stem cells are also being researched in regenerative medicine given that they mayhave the potential to give rise to other cell types. Scientists are using cord blood stem cells inexperimental treatments for brain injury and juvenile diabetes. 1.5 How cord blood is collectedAt birth traditionally, the umbilical cord and placenta (the temporary organ that transfers oxygenand nutrients to the baby while in the mothers womb) are discarded. With the discovery of cordblood stem cells, parents can now opt for storing this blood.The process does not interfere with labour or delivery in any way. Cord blood can be collectedfollowing either a vaginal or a caesarean delivery. Collecting stem cells from cord blood posesno risk to mother or baby. It is collected immediately after birth (usually within 10 minutes ofdelivery) and cryopreserved. It is then stored in a cord blood bank for future transplantation. 1.6 Types of stem cellsThere are 3 main classes of stem cells: • Totipotent: It has the potential to become all other types of cells in the body. A fertilized egg is totipotent. • Multipotent: A small number of stem cells that can produce only certain types of cells. • Pluripotent: Stem cells that produce any type of cell in the body except those needed to develop a foetus. 3
  • 16. BY AVIROOP MARKETING THESIS BANIK 1.7 Sources of stem cellsStem cells can be found in different places. But the potential sources are:1. Embryonic Stem Cells: Using a donated human embryo, scientists are able to extract theblastocyst (inner cell) from the 4-day old embryo. This is then cultured for about six months in aPetri dish until a cell line which contains millions of stem cells, is produced. Embryos are usuallyobtained from a donor who has given their informed consent that their embryos, originallycreated for IVF but are now no longer needed, may be used for stem cell research.2. Bone Marrow: Bone marrow is the spongy material you find inside your bones. Containedwithin bone marrow, however, are stem cells. In fact, aside from cord blood, bone marrow is therichest source of adult stem cells. However, bone marrow stem cells have matured and thereforeare more restricted as to what type of cells they can differentiate into. Moreover, normalenvironmental exposures and toxins have likely affected these cells. As a result, their use is morelimited. Bone marrow transplants have been used to treat blood disorders, immune systemdisorders and genetic disorders.3. Peripheral Blood Stem Cells: These stem cells also fall into the category of adult stem cells.Peripheral blood refers to the blood circulating in your system. Although this isn’t the richestsource of stem cells, peripheral blood stem cell donors can be administered growth factor drugsto help increase their number of stem cells. When donating the stem cells, blood is withdrawnfrom the body and stem cells are separated from the blood before the blood returns to the body.While this method of donation is simpler than bone marrow donation, there is a greater chancethat the recipient will have complications, like graft vs. host disease.4. Cord Blood Stem Cells: Cord blood stem cells hold great potential in treating a wide numberof diseases and disorders. Cord blood stem cells are actually much more primitive than bonemarrow or peripheral stem cells. These stem cells are taken from umbilical cord blood shortlyafter birth; once the umbilical cord has been cut, a nurse or doctor can drain the blood from thecord. This blood can then be frozen and stored privately or donated to public cord blood banks.When it is needed, the stem cells are thawed and ready to use in stem cell therapy.“Adult stem cells are found in some tissues in the adult body like the epidermis of the skin, thelining of the small intestine and the bone marrow and teeth where they serve in the regenerationof old or worn tissue. Stem cells from the umbilical cord are known as neonatal stem cells. 4
  • 17. BY AVIROOP MARKETING THESIS BANIK 1.8 Stem cells functioningStem cells differ from other kinds of cells in the body. All stem cells regardless of their sourcehave three general properties: they are capable of dividing and renewing themselves for longperiods; they are unspecialized; and they can give rise to specialized cell types.Stem cells are unspecialized. One of the fundamental properties of a stem cell is that it does nothave any tissue-specific structures that allow it to perform specialized functions. A stem cellcannot work with its neighbors to pump blood through the body (like a heart muscle cell); itcannot carry molecules of oxygen through the bloodstream (like a red blood cell); and it cannotfire electrochemical signals to other cells that allow the body to move or speak (like a nerve cell).However, unspecialized stem cells can give rise to specialized cells, including heart muscle cells,blood cells, or nerve cells.Stem cells can give rise to specialized cells. When unspecialized stem cells give rise tospecialized cells, the process is called differentiation. 1.9 Best type of stem cells for therapyUmbilical cord stem cells are a recent innovation in science and clinical medicine, which havethe potential to define the future of proactive healthcare and stem cell science. Breakthroughmedical research has now shown that the umbilical cord and menstrual blood are amongst therichest sources of stem cells and they have the potential to treat many ailments through stem celltherapy.Transplant surgeons prefer stem cells from cord blood rather than from bone marrow ascomplications are lesser and outcomes are better. Stem cells from the umbilical cord have thehighest potential in curing diseases as against the others stem cells from bone marrow, dental ormenstrual, which have issues concerning purity and potency. 5
  • 18. BY AVIROOP MARKETING THESIS BANIK 1.10 Advantages of cord blood cells While bone marrow, embryonic tissue, amniotic fluid and now even menstrual blood are considered sources of stem cells, umbilical cord blood stem cells are biologically younger and are considered to have qualities and advantages unique to them.• Being immediately available, they can be used for early treatment, thus minimizing disease progression.• If ever a transplant is needed, the child’s own stem cell is a perfect match and these cells may even be compatible with those of a child’s siblings.• Freezing the cord stem cells protects them from environmental damage, ageing, and common viruses that can affect stem cells in the bodies over time.• Moreover, collection of cord blood is painless, simple and safe. 1.11 Potential of stem cells Stem cells are a breakthrough in modern regenerative medicine. They have a huge potential in regenerative medicine through their ability to generate cells and tissues. Stem cells can also be directed to differentiate into specific cell types, thereby offering the possibility of a renewable source of replacement cells and tissues - to treat diseases such as Parkinsons & Alzheimers diseases, spinal cord injury, stroke, burns, heart disease, diabetes, osteoarthritis and rheumatoid arthritis. Recent studies have indicated the possibility to direct differentiation of stem cells into heart muscle cells or insulin-producing pancreatic cells. For example, it is now possible to generate healthy heart muscle cells from stem cells in the Fig: 3- Diseases treated laboratory and transplant those cells into patients by Stem cell with chronic heart disease. In type I diabetes, the cells of the pancreas that normally produce insulin are destroyed by the patients own immune 6
  • 19. BY AVIROOP MARKETING THESIS BANIKsystem. It is now possible to direct the differentiation of stem cells in stem culture to form newinsulin producing cells that could eventually be used in transplantation therapy for diabetes. 2 What is Stem Cell Banking?A stem cell bank is a facility, which stores stem cells for future use. Umbilical cord blood isblood that remains in the placenta and in the attached umbilical cord after childbirth. Cord bloodis obtained from the umbilical cord at the time of childbirth, after the cord has been detachedfrom the newborn. Cord blood is collected because it contains stem cells, includinghematopoietic cells, which can be used to treat hematopoietic and genetic disorders. Cord bloodcontains all the normal elements of blood - red blood cells, white blood cells, platelets andplasma. But it is also rich in hematopoietic (blood-forming) stem cells, similar to those found inbone marrow. This is why cord blood can be used for transplantation as an alternative to bonemarrow. Fig: 4- Sources of Stem cells 7
  • 20. BY AVIROOP MARKETING THESIS BANIK2.1 Why it is recommended?Stem cell banking is a simple, safe and painless procedure and happens immediately after birthafter cutting the cord. The cord blood collected is then transferred to the laboratory and frozen incryogenic storage tanks for long-term preservation. Nowadays, the umbilical cord is also stored.Stem cells represent an exciting area in medicine because of their potential to regenerate andrepair damaged tissue. Some current therapies, such as bone marrow transplantation, alreadymake use of stem cells and their potential for regeneration of damaged tissues. Other therapiesare under investigation that involves transplanting stem cells into a damaged body part anddirecting them to grow and differentiate into healthy tissue.2.2 Benefits:Storing babys umbilical cord blood stem cells is an investment towards the future health of afamily. It ensures an exact match for the child and a more likely match for another blood-relatedfamily member. Unfortunately, if a stem cell treatment is indicated, families those have notprivately banked their childs cord blood stem cells end up searching for an appropriate source ofcompatible stem cells - searches, which can take months and still, be unsuccessful. Cord bloodstem cells from a family member are much more likely to be successfully transplanted than thosefrom an unrelated donor.2.3 Difference between stem cells from cord blood v/s bone marrow:Both bone marrow and cord blood stem cell transplants are designed to replace unhealthy cellswith healthy ones. Cord blood is blood that is collected from an infants umbilical cord afterdelivery, so that it may be tested, frozen and subsequently stored in a cord blood bank for futureuse. A bone marrow transplant, on the other hand, involves the use of bone marrow that istransplanted from a donor into the recipient in order to cultivate new stem cells. Stem cells areavailable in greater proportion from the umbilical cord as compared to bone marrow. Cord bloodcells have more generative capacity as compared to bone marrow cells. Cord blood cells can beused for those with lung, heart and kidney disease where bone marrow cells are to be avoided.2.4 Procedure of banking:Umbilical cord blood & cord tissue banking is an once-in-a-lifetime opportunity for parents tocollect and preserve the stem cells from their babys umbilical cord within 10 minutes of birth ofthe baby.By preserving babys stem cells with a private bank, child and family can access to potentialtreatments for over 75 serious ailments such as leukemia (blood cancer), thalassemia, braininjury, juvenile diabetes and many more. 8
  • 21. BY AVIROOP MARKETING THESIS BANIKUmbilical cord blood and tissue preservation is a simple, painless procedure that can take placeafter a vaginal or cesarean birth. By enrolling with a private bank, parents receive an umbilicalcord collection kit which contains all material and information for a successful collection.After your baby is born, obstetrician or paramedic staff will collect the cord blood and the cordtissue. The entire process takes less than 10 minutes and it is harmless to both the mother and thebaby. Once the cord blood and cord tissue has been collected, it will then transfer to a processingfacility through designated courier for processing and storage.2.5 Enrollment:Once parents decide to bank their baby’s stem cells with a private bank, they need to subscribefor the service, preferably a few months in advance before the expected delivery date.They can for instance contact customer support team or private bank centers nearest to them andtheir executives will assist them through the process of enrolment. The process is very simpleand parents can enroll over the phone itself. They can also make payment through easy andsimple modalities like pay online, cheque/DD, ECS as preferred by them.Upon completion of enrolment private bank will provide them the umbilical cord blood and cordtissue collection kit. But parents need to inform their doctor about their decision to preserve theirbaby’s stem cells.2.6 Umbilical cord collection - Kit contents:Gel packs need to be removed from the kit box and deep-freeze them by placing flat in thefreezer compartment of refrigerator. Proper storage of the kit in a cool, dry and well ventilatedplace at a temperature of 22 to 25 degrees centigrade is must and need to avoid exposure toexcessive temperature or humidity.When moving towards hospital, couple should inform the customer support of private bank thatthey are about to deliver. Contact information need to be provided so that private banks willguide them through the process. Couple needs to carry the kit, gel packs and all relateddocuments to the hospital / nursing home while proceeding for delivery. On reaching thehospital, gel packs need to be placed in the deep freezer immediately.2.7 Cord blood and tissue collection:Collection of cord blood is an essential part of cord blood stem cell banking. The collection kitmust be kept handy and couple must ensure that their doctor is aware of their decision to banktheir babys cord blood and willing to carry out the procedure. 9
  • 22. BY AVIROOP MARKETING THESIS BANIKThe collection process occurs after baby is born and the umbilical cord is clamped and cut. Theblood can be collected before or after the delivery of the placenta.2.8 Cord blood collection:Cord blood is collected from the umbilical cord immediately after a baby’s birth, but generallybefore the placenta is delivered. Cord blood is drawn from the umbilical cord into the bloodcollection bag that comes in the kit. The mother’s blood will also be collected during this time tobe tested for certain infectious diseases as required by regulations. The baby’s cord blood andmother’s blood are then labeled and packaged in the kit box provided.This process is simple, safe, painless and harmless to both the child and the mother. Thisprocedure can be performed with either vaginal or cesarean section deliveries, and the entireprocess takes less than 10 minutes after the baby is born.Once the umbilical cord blood is collected a specified length of 10 to 25 cms of the umbilicalcord is cut and collected in the cord tissue collection containers.Obstetrician / gynecologist or the hospital staff shall perform the collection. In case couplerequires assistance in the collection process they would need to inform the private bank inadvance of the EDD to enable them to depute a paramedic staff for the collection.Once the blood is collected, the bag is sealed carefully to avoid contamination. The cord bloodand cord tissue samples are packed in the collection kit box as the instructions provided andsafely dispatched through designated courier service to private bank laboratory.2.9 Processing:After babys cord blood is collected, it will be safely transported to state-of-the-art processingand storage facility in India. The private bank facility is fully owned by the company and ismanaged by team of biotechnologists.Babys cord blood is processed and stored according to the stringent criteria set by the AmericanAssociations of Blood Banks (AABB). (Followed by top banking companies)On receipt of the collected sample, an array of tests is conducted on the cord blood, cord tissueand maternal sample. Depending upon the outcome of the test the samples may be quarantined orrejected. After testing, the cord blood and cord tissue are taken into a state-of-the-art technologyclean room wherein skilled technicians process the samples at utmost care adhering tointernational quality standards such as those prescribed by AABB (American Association ofBlood Banks). 10
  • 23. BY AVIROOP MARKETING THESIS BANIKThe stem cells from cord blood are harvested using a red cell depletion method aided by achemical called ‘Hespan’ which facilitates the separation of red cells from the mononuclearwhite cells. Separation of stem cells is accomplished by further centrifuge spinning of the whitecells.The cord tissue is washed, minced put into tissue culture for extracting a pure mesenchymal stemcell population.2.10 Preservation:After the cells have been separated, the unit containing stem cells is mixed with acryopreservation solvent. This solvent protects the cells against the formation of ice crystals,which can rupture the cell membrane. The solvent most commonly used for cryopreservation ofcord blood is "DMSO" (Dimethyl Sulfoxide).To further protect cord blood cells against the formation of ice crystals, it is important that thecells freeze slowly. This is done in a special controlled-rate freezer, and then the blood istransferred to long-term storage. The final storage temperature should remain stable at -196degrees centigrade.Many private banks use special compartmentalized cryo-bags to store baby’s precious cord bloodstem cells. The bag includes a 20 ml and 5 ml portion and three segments for testing. The cordtissue stem cells are stored in two 5 ml cryo-vials, which have an integrated segment for testing.The stem cells bags and vials are overwrapped for added protection and also to avoid cross-contamination. They are housed in protective cassettes and boxes and placed in liquid nitrogenstorage vessels for cryogenic preservation at -196 degrees centigrade.Stem cells can be successfully stored for many decades in a cryo-preserved form. 11
  • 24. BY AVIROOP MARKETING THESIS BANIK Fig: 5- Storage and preservation of Stem cell 12
  • 25. BY AVIROOP MARKETING THESIS BANIK 2.11 Stem Cell CryopreservationThe instances of clinical storage of cord blood have increase manifold in the recent years. India isalso a fast growing destination for the Stem Cells cryopreservation fraternity. Many regionalprocessing centers have been set up to process the collected cord blood samples. Often there isconsiderable distance between the collection centers and regional processing centers whichnecessitates the development of short term as well as long term storage processes for the stem cellsderived from the umbilical cord blood. The initial work on the theory of cryopreservation wasdone by James Lovelock who suggested that the damage to the red blood cells was being causeddue to osmosis stress.The Downsides:In the cryopreservation process, the stem cells collected from umbilical cord blood samples, arefrozen to sub zero temperatures. The cryopreservation process comes with many risks. Thesolution concentration has to be correct otherwise the stem cells being preserved may be damaged.Also, if the tissue cooling process takes place slowly, the water within the tissues goes out of thetissues thus forming ice in the extracellular space. This ice may damage the cell membranesmechanically due to crushing. The water migration from the cell may also result in cellulardehydration, which again can damage the cells.How to Avoid the Downsides?Machines are used to freeze the stem cells in programmable steps before putting them into thedeep freeze stage in liquid nitrogen. The technique of Vitrification, on the other hand, claims tocryopreserve the samples while negating the damaging effects of ice crystal formation. Thetechnique uses cryoprotectants before the cooling process, which increases the viscosity. Theprocess also ensures that the solution doesn’t crystallize and turns into amorphous ice. The sameeffect can be produced through rapid cooling of water without using the cryoprotectants. 13
  • 26. BY AVIROOP MARKETING THESIS BANIK 2.12 How banked stem cells can help childrenStem cells are used today to treat various cancers and blood disorders. They may hold the key torepairing brain or spinal cord damage, or regenerating heart tissue in those who have suffered aheart attack.Other factors that may be an incentive for families to save their babies’ cord blood are a familyhistory of disease; having a baby of mixed ethnicity or an ethnic minority, where it may be moredifficult to find stem cell donors, or when a newborn is adopted, it may serve as a valuablegenetic source of stem cells for the adopted baby.However, for inherited genetic conditions, the childs own cord blood cannot be used and here amatched sibling’s stem cells would be the first choice.Planning for the health of the new addition to the family starts at birth. Cord blood bankingoffers the security of knowing that there is a feasible option to overcoming life-threateningdiseases in future. 2.13 Where to bank child’s stem cells in India?In India, a parent has three options:1. They may privately bank, which means they pay a company to collect, process, and store theirbabys stem cells in a private stem cell banking company,2. They may store it in a public bank,3. They may simply choose to discard them. If they make no decision at all, these potentiallylifesaving cells will be discarded. 14
  • 27. BY AVIROOP MARKETING THESIS BANIK 2.14 Private Banks vs Public BanksUmbilical cord blood stem cells can be banked in either a private bank or a public bank. Theprimary difference between a private and public cord blood bank is that, in a private bank theexpectant family pays to bank the umbilical cord blood for their private use, while a public cordblood bank collects umbilical cord blood free of cost from anyone who wishes to donate andstores it for the benefit of the general public. 15
  • 28. BY AVIROOP MARKETING THESIS BANIK 2.15 Facts about stem cell banking in India: from media Young couples are getting tuned with the innovation in their cities: Young parents are flocking to banks to create savings accounts for their newborns. Less than 1 in 30,000 people withdraws these cells. Its now just a blind faith in science. Medical research is focusing on using stem cells in conditions such as Parkinsons disease, Alzheimers, diabetes and a growing list of debilitating and incurable diseases. At least 100 couples from across the country have banked stem cells with Lifecell every month. What if couple misses the chance of storing their baby’s cord blood stem cell: For couples who missed the chance during deliveries, the bank offers an alternative. Women can bank their menstrual blood, which is also rich in stem cells. The women are given a collection kit comprising a menstrual cup and collection tubes. Like the cord blood, it is processed and preserved in liquid nitrogen at extremely low temperatures. Stemade opened the citys first dental stem cell bank. The bank will store the stem cells drawn from the childrens milk teeth or adult wisdom tooth. Its something people would anyway throw out. Its an opportunity for people who have missed out on banking their cord blood cells as dental stem cells can be extracted at any stage. (Source: Times of India, April’11) Eight years ago, when a handful of companies started offering expecting parents the option of preserving their newborn childs stem cells for future use, the response was tepid. Most women simply chose to get on with the birthing process and welcome their child into the world. By 2010, however, urban India had cottoned on to the potential life-saving power of stem cells carefully extracted from the blood of the umbilical cord. According to estimates from the medical community, an average of 24,000 couples opts for the procedure every year across India. This is a far cry from the initial years when the annual figure averaged just about 300. With a shelf life of 21 years, stem cells are seen as a form of health insurance. A majority of couples opting for this treatment are the educated middle-class, who are willing to bear the monetary pinch. (Source: Times of India, Dec’10) 16
  • 29. BY AVIROOP MARKETING THESIS BANIK 2.16 Stem cell treatment miracles Fig: 6- Stem cell potential in treating cardiac and Parkinson’s disease 17
  • 30. BY AVIROOP MARKETING THESIS BANIK Fig: 7- Stem cell potential in reducing tumor mass and recovering of eyesight 18
  • 31. BY AVIROOP MARKETING THESIS BANIK Fig: 8- Stem cell potential in treating diabetes 19
  • 32. BY AVIROOP MARKETING THESIS BANIK 3 Background of stem cell banking in IndiaA new buzzword “STEM CELL BANKING” is slowly but continuously engulfing theconsumers’ attention in India. Stem cells were in the limelight when recently US President BarakObama lifted an eight-year-old ban on Government-supported funding for embryonic stem cellresearch, opening floodgates for millions of dollars in research.In the Indian research turf too, stem cell banking is gaining momentum. In India the industry put-together has banked about >70,000 cord blood units over the last three years. This number is setto increase substantially with increased market reach and awareness; increase in regulatoryapprovals for stem cells based products and lowered resistance to private banking will togetherencourage more clients to choose stem cell banking. 3.1 India: A Growing PotentialWith more than >80,000 births a day or >26 million births a year, India is poised to be the largestsource for umbilical cord blood in the world. Its no surprise then that leading stem cell bankingcompanies are keenly eyeing India. The investments are considerable and mostly run intomillions of dollars. Analysts estimate that an Indian stem cell bank, which is currently at Rs 100crore, would generate Rs 2,700 crore in revenues by 2012, accounting for 17 per cent of theworld market. Companies with foreign funding are entering the market and are planning tocapture at least 21 per cent of the total market.As of now, there are more than ten players in this eight-year-old market. Most of these cordblood banking companies are having an overseas parent company which is responsible for theinitial investment. 3.2 The playersLeading private players in area of cord blood banking are Lifecell International, CryobanksInternational India, Cryo Stemcell Karnataka, Reliance Life Sciences, Cordlife SciencesIndia, Cryo-Save India and many others. This segment also includes nominal presence of 20
  • 33. BY AVIROOP MARKETING THESIS BANIKpublic cord blood banks like Jeevan Stem Cell Blood Bank which is a not-for-profit stem cellbank.Lifecell, launched in November 2004 through a technology tie-up with Cryo-Cell International(CCI) US, was one of the first entrants in the Indian cord blood banking segment and therefore issaid to be the biggest umblilical cord blood banking company in India. Lifecell made use of itsfirst mover advantage and has created a customer base of >25,000 parents. Another homegrownventure that emerged in the early days of stem cell banking in India was Cryo StemcellKarnataka. Started around five years ago by Dr S.G.A Rao, this company thrives on makingtherapeutics as the future for stem cell banking. The company treated over 60 patients forBeurgers disease (limb ischemia), with adult stem cells. On similar lines, it has completed trialson spinal cord injury, chronic liver failure, myocardial infraction and osteoarthritis.Cryobanks International India, started in 2006, is a joint venture between CryobanksInternational, a US body, and RJ Corporation headed by Ravi Jaipuria. The company invested Rsone billion to build the seven repositories in metro cities.Cordlife Limited, a Singapore-based cord blood banking group, recently entered this segmentopening the first cord life facility in India, with a storage capacity of up to 1, 50,000 cord bloodunits. This unit has been set up at Bishnupur area on the outskirts of Kolkata. The company plansto invest Rs 300 million in 18-24 months to set-up similar facilities across India.Another European stem cell banking company, Cryo-Save launched its operation in India inDecember 2008. The company has set 10 stem cell storage banks in the country at a cost of Rs10 million. 21
  • 34. BY AVIROOP MARKETING THESIS BANIK 3.3 Marketing the ConceptAmongst the six existent players, Lifecell and Reliance Biotech both have partners withexperience in pharma industry. These companies have established sales force wherein trainedmedical representatives visit the prospective clients home and explain the concept, collectionand processing, and provide confidence on the storage facilities. They are aware of the fact thatin India if any medical concept has to be rolled out, the doctors have to be taken into the loop.Therefore, private players have set up a marketing and sales force structure which is just like apharma company that gets in touch with the obstetrician, gynecologist on regular basis and getpregnant patient population from them.The smaller companies are making some headway in creating infrastructure through privatefunding. There are companies who are directly approaching prospective customers for conceptselling. Cryobanks International India has been following a model of increasing direct client anddoctor awareness. They are offering their services in more than 75 towns, which they plan toincrease to 250 plus towns. They are also conveying information on the concept throughadvertisements, advertorials in magazines and papers. Further, they conduct direct mass outreachprogrammes which are aimed at increasing mass awareness about stem cells. The company hasalso on offer the public banking services to its clients who wish to bank their stem cells in publicbanks and intends to cater to all towns with population of more than a lakh in the coming threeyears. 3.4 Expanding WingsThe investments from the cord blood banks in India are mainly focused on the facility building,technology development fees and its day-to-day operations. The industry is expecting at least 10more new players in the next few years including global players who are keen to leverage theIndia opportunity. With everyday advancements in stem cell technology from the research andclinical perspective, stem cells do promise a healthy future for the coming generations in India.Some companies launched new banking services (like collection of stem cells from menstrualblood, cord tissue, and adipose tissue). This will increase the customer base significantly as thisopportunity is not restricted to expectant parents alone.Cryo-Save India has plans to offer more value added services like cord and stem cells fromadipose tissues besides offering the elementary service of cord blood banking. It has just started 22
  • 35. BY AVIROOP MARKETING THESIS BANIKits test marketing of cryo-cord service in India. Menstrual blood contains extremely large numberof mesenchymal stem cells and several thousand fold high concentration of stem cell growthfactors. Because of these properties research has shown that these menstrual cells multiplyrapidly and can also form other types of specialized cells including those of the heart, nerve,bone, cartilage and fat. 3.5 Cost DynamicsEvery year out of around 26 million births in India, 6, 00,000 are potential clients, given thepricing of approximately Rs 79,000 per umbilical cord banked for 21 years. In recent times,companies are driving the prices to almost 50 per cent of the initial cost, forcing other companiesto match the price. Markets have been reduced to bargaining battlegrounds controlled by theaspirations of marketing personnel, who are looking to maximize their role in this drive, oftenresulting in giving the client biased banking solutions options.Private players are now increasingly offering EMI schemes of payments to help clients choosebetter and easier payment options for banking. Lifecell provides its services in two packages.With Lifecells Baby Cord plan, the interested parents can enroll and store their babys cordblood stem cells and cord tissue for 21 years by paying Rs 3,500 as a monthly EMI for twoyears. Other options available are one-time storage fee of Rs 79,000 or initial processing fee ofRs 44,600 with an annual storage fee of Rs 3500.CordLife Sciences India offers private banking for an initial upfront fee of Rs 38,000 andsubsequent annual storage fees of Rs 3,600. The critical factor which is affecting business in thefield of stem cell banking is the cost of processing and storing the stem cells. The processinvolves usage and procurement of items not manufactured in the country (so a huge amount ispaid in duties and taxes) and this increases the cost of the process significantly.Banking would naturally increase if reductions in prices are made for banking, Stem cellbanking is hugely capex intensive and is in itself an entry barrier.Even though it is a well-known concept in the Western world, public cord blood banking has justtaken off in India a few months ago. Chennai-based Jeevan Stem Cell Bank has launched publicbanking service recently. Jeevan Stem Cell Bank is a unit of Jeevan Blood Bank and ResearchCentre, a 14 year old not for profit organisation. Bangaluru-based Narayana Health City alsorecently came up with a public stem cell bank named the Rotary Narayana Tissue Bank and StemCell Research Centre. 23
  • 36. BY AVIROOP MARKETING THESIS BANIK 3.6 Public v/s Private — who will survive?Public stem cell banking is different from private stem cell banking in the fact that the clientdoes not need to pay for the banking and that the right of the sample is not with the client whichis so in private banking. Moreover, there is a raging debate on whether public stem cell bankingas a concept will survive on the Indian healthcare grounds in the long run. The need of the houris public stem cell banking which anyone who needs transplant can access. Possibility of use ofstored stem cells within the family or by the same child is very limited. When one donates thecord blood to a public bank, the donor need not make any payment and the processing cost is metby the public bank with community donations.It is best suited for treatment of hematological disorders; whereas autologous stem cells fail toresult in a beneficial outcome in such cases. Public banking system must be in place forhematological disorders, whereas, autologous banking is more appropriate for treatingdiseases in the regenerative mode.Public cord blood banking is a novel concept of making an otherwise biological waste availableas a therapeutic tool but this is however fraught with multiple issues. The source material isfreely available, what with nearly 80,000 births happening everyday in India. The issues startwith the cost of collection systems, couriering to the processing centre, testing, throughprocessing and finally storage. All these come at a prohibitively expensive financial liability.Testing itself would involve all infective markers like the HIV, Hepatitis B, C, Syphilis, CMVapart from sterility issues to detect contamination of the blood or tissue.Nevertheless, cord blood stem cells stored in a public cord blood bank are available for publicuse and often, chances of finding a match are low. If a match is found, the charges to retrievethese stem cells can cost as high as $26,000.Public cord blood banking works only when the repository is huge and this requires extra largeshares of the financial pie. This money has to come from Governmental organizations, NGOs,philanthropists or open-ended research schemes, funded by foreign funds. A global teaming upwith other stem cell repositories across the world may make the public banking feasible, in termsof funding and revenues from therapies. 24
  • 37. BY AVIROOP MARKETING THESIS BANIK 3.7 ChallengesBesides being the richest source of cord blood, there are few other factors which have madeIndia both preferable as well as a risky destination for prospective stem cell banking players toenter and survive in this segment. However, as in every nascent industry, the issue of regulationis rearing its head in stem cells. While the Indian Council of Medical Research had issuedstringent guidelines for stem cell research and therapy, they are yet to be legislated. The UnionHealth Ministry is planning a law to regulate this sector. The guidelines have to become law in astrict sense to attract global attention.Currently, umbilical cord blood and cord-tissue banking are more popular amongst theaffluent clients. The uptake of this concept would be faster in the upper class and tier III citieswith comparatively higher disposable incomes.With stem cell therapy proving to be an emerging treatment for the future, cord blood banking isone of the cheapest alternatives. Stem cell transplantation facilities are increasing in India, butfor optimal utilization of these facilities, it is important to create concept awareness. It is stillconsidered an ultimate preventive healthcare luxury due to high cost barriers.At present, lack of awareness among the common people about the huge potential to be gainedfrom the storage of cord blood stem cells and highly technical nature of the process is the keyreason for a small customer base in the country. However, the market has tremendous potentialthat could be tapped by initiating an awareness campaign and a customized marketing plan. Toovercome this challenge, companies like Cryo Banks India intend to involve doctors practicingin the towns. 3.8 Future ProspectsIn 2003 less than 30 diseases were able to get cured or supported with stem cells help, but, todayover 85 diseases can be cured or supported. In India the Department of Biotechnology is takinginitiatives to create Centers of Excellence in 35 medical teaching colleges to foster research inboth adult and embryonic stem cells. The success observed in other countries such as China,Taiwan and Korea is a yardstick to indicate that the concept of stem cell banking will also workin India. 25
  • 38. BY AVIROOP MARKETING THESIS BANIKIncreased awareness levels among the masses about the concept and a strong legalized and lesscommercialized environment can work positively towards making stem cell banking an integralpart of Indian healthcare.After understanding the current status of stem cell banking in India, it leads me towardsanother important and often ignored perspective of innovation challenges, i.e. consumers’resistance. As stem cell banking represents “radical innovation” which faces considerablymore consumers resistance. Consumer (or end user) adoption and purchase decision make asignificant difference in the success of innovative healthcare service, so consumers resistanceis one of the important factors in the success of innovation. It can certainly inhibit and/ordelay the diffusion of an innovation and thus has important implications for the managementof firms. Consumers, who resist innovation, are most of the time non-adopters and represent amajor part of consumers.These consumers have strong potential for providing valuable information necessary for thedevelopment, implementation, and marketing of innovation, and should be given moreattention in research studies. From managerial perspective, studying consumers resistance toinnovation is very important and useful. Understanding resistance will help firmsdesign/develop new products/services so as to ensure market success, and high product/servicefailure rate that is prevalent today, can be reduced. Once firms face consumers’ resistance totheir innovations, they can analyze the underlying causes of resistance, and better be able todesign strategies to deal with critical & important resisting factors.Studying the factors affecting consumer resistance to stem cell banking can provide itsmarketers with useful information about these important factors that affects consumersbehavior towards innovation. 26
  • 39. BY AVIROOP MARKETING THESIS BANIKIntroduction:This chapter aims to introduce the reader to the background of the study topic, the problemarea and a brief discussion of related studies. The research questions are formulated, followedby the purpose and hypothesis. 4 Problem discussionIntroduction: Innovation is a key factor for companies to survive and grow in the long run andhas been called as the lifeblood of most organization especially in the dynamic & complexmarkets, and uncertain economic circumstances. Despite the successful outcome of innovations,inhibition or delay in the diffusion of innovation may translate this success in to market failure.The cobweb: One of the main reasons for inhibiting or delaying the innovation diffusion isconsumers’ resistance, which appears to have been neglected in the academic literature. Eventhough the innovative products/services may provide extensive benefits and improvedfunctionalities, researchers have found that consumers often convey less than enthusiasticresponse to a number of new products/services. 27
  • 40. BY AVIROOP MARKETING THESIS BANIK 4.1 Research questions1. What are the causal relationships between INNOVATION CHARACTERISTICS (Factors like Relativeadvantage, Compatibility, Complexity, Perceived risks and Expectation for better services) on consumer’s resistance to stem cell banking? INNOVATION CHARACTERISTICS Relative advantage of Stem cell banking Causal Compatibility of Stem cell banking relationships Complexity of Stem cell banking Consumer’s resistance towards stem cell banking? Perceived risks of Stem cell banking Expectation for better services2. What are the causal relationships between CONSUMER CHARACTERISTICS (Factors like Motivation, Attitude towards existing services & Self-efficacy) on consumer’s resistance to stem cell banking? CONSUMER CHARACTERISTICS Motivation to adopt Stem cell banking Consumer’s resistance towards stem cell Attitude towards existing healthcare services banking? Self-efficacy to use Stem cell banking service 28
  • 41. BY AVIROOP MARKETING THESIS BANIK 3. What is the inter-relationship among the innovation and consumer characteristics factors? INNOVATION CHARACTERISTICS CONSUMER CHARACTERISTICS Relative advantage of Stem cell banking Inter- relationship Motivation to adopt Stem cell banking Compatibility of Stem cell banking Complexity of Stem cell banking Attitude towards existing healthcare services Perceived risks of Stem cell banking Self-efficacy to use Stem cell banking service Expectation for better services4. Which factors of INNOVATION CHARACTERISTICS and CONSUMER CHARACTERISTICS mainly affect/determine consumer’s resistance to Stem cell banking? INNOVATION CHARACTERISTICS CONSUMER CHARACTERISTICS Relative advantage of Stem cell banking Motivation to adopt Stem cell banking Compatibility of Stem cell banking Complexity of Stem cell banking Attitude towards existing healthcare services Perceived risks of Stem cell banking Self-efficacy to use Stem cell banking service Expectation for better services 29
  • 42. BY AVIROOP MARKETING THESIS BANIK 4.2 PurposeThe purpose of this study is to identify and analyze the relationship between consumersresistance and different factors from innovation and consumers characteristics. Thereafter,important factors are identified which mainly affect/determine consumers resistance to stem cellbanking. Moreover, the inter-relationship (correlation) among the selected factors is found out, toknow the affect of each factor on other factors. Fig: 9- Dependent and Independent variables 30
  • 43. BY AVIROOP MARKETING THESIS BANIK 4.2.1 HypothesisTo answer the first research question, a theoretical model of consumers resistance to stem cellbanking has been proposed and eight hypotheses (each for one factor) are constructed to find thecausal relationships.This theoretical model is based on some models (Ram’s, Yu and Lee Model, & TAM) andempirical results from different studies (discussed in the frame of reference). Based on themodels and different studies on consumers behavior towards innovation, I propose that;consumers resistance to adoption of stem cell banking is mostly determined by innovationcharacteristics; relative advantage, compatibility, perceived risk, complexity, & expectation forbetter products, and consumers characteristics; motivation, attitude towards existing products,& self-efficacy.The eight hypotheses are presented as follow:H1= Lower the Relative Advantage, higher the consumers resistance to stem cell bankingH2= Lower the Compatibility, higher the consumers resistance to stem cell bankingH3= Higher the Complexity, higher the consumers resistance to stem cell bankingH4= Higher the Perceived Risk, higher the consumers resistance to stem cell bankingH5= Lower the Expectation for Better/extended service (genetic testing along with storing stemcells), higher the consumers resistance to stem cell bankingH6= Lower the motivation, higher the consumers resistance to stem cell bankingH7= The more favorable/positive consumers Attitude towards existing healthcare services, thehigher the consumers resistance to stem cell bankingH8= Lower the Self-efficacy, higher the consumers resistance to stem cell banking4.2.2 Regression coefficients and Correlation:The first and second research questions will be answered from the results of regressioncoefficients and third and forth research questions will be answered from the results ofcorrelation, and will be performed on the same empirical data collected for hypotheses testing. 31
  • 44. BY AVIROOP MARKETING THESIS BANIK 5 Frame of referenceIn this chapter, I have discussed relevant theories and models. These theories and model areused to build a theoretical framework and propose a model to be applied on our empiricaldata; that has enabled me to test the hypotheses and fulfill the desired purpose of the study.5.1 Innovation:An innovation is "an idea, practice, or object that is perceived as new by an individual or otherunit of adoption". An innovation may be composed of advancement in existing features, orestablishment of new features to an existing product/service, or it might be a totallynew/innovative product/service introduced in the (same or new) market.5.1.1 Technological Innovation:Technological Innovation is an iterative process started by the perception of a new market and/ornew opportunity for an invention (technological) which directs to development/improvement,manufacturing, and then marketing tasks essential for the commercial accomplishment of theinvention. This reveals two important perspectives, first, the innovation process comprises thetechnological development of an invention with addition to the commercial introduction of thatinvention to consumers, and secondly, the innovation process is iterative and hence, instinctivelyincludes the first opening of a new product and the re-opening of an enhanced and developedinnovation.The commercialization of new product/service has been termed as the most critical and alsocrucial activity that renders its accomplishment. 32
  • 45. BY AVIROOP MARKETING THESIS BANIK5.1.2 Types of Innovation:Generally there are two types of innovation; incremental and radical innovation.In this study we deal with radical innovation. A radical innovation is “a product, process orservice with either unprecedented performance features or familiar features that offer significantimprovements in performance or cost that transform existing markets or create new ones”. It canalso be defined as an “innovation that breaks with traditions in the field”. They can also belabeled as radical, discontinuous, generational or breakthrough, and also disruptive innovation.Radical innovations are essential and eminent for manufacturers/marketers because of theircapabilities to bring new means of competitive advantage; on the other hand they are necessaryfor consumers as they are the main source of social and economic change in everyday lives. Theadoptions of radical innovations require much more commitment and entail higher expenditureand risks (including learning costs and psychological effort) than the adoption of incrementalinnovations.Innovation Resistance:Innovation resistance is consumers reaction towards an innovation, either because it createpotential changes from a satisfactory status quo or because it is in conflict with their beliefstructure.Ram and Sheth (1989) discovered that, the causes of innovation resistance stem from one ormore of the adoption barriers. These barriers are usage, value, risk, image, and traditionalbarriers. The usage barrier comes when the innovation is not compatible with consumersexisting workflow, practices, or habits. The value barrier is based on the economic value of aninnovation that the innovation does not offer strong performance-to-price compared to itsalternative products/services. Risk barrier is the degree of potential risks an innovation mayentail. Traditional barrier generally involve the changes an innovation may cause in dailyroutines, also it “a preference for existing, familiar products/services and behaviors over novelones”. The image barrier is associated with the innovations identity (from its origin) like theproduct category, brand, or the country of origin. Different researchers have found that, even forsuccessful new products/services, most of the time consumers respond in less than enthusiasticway, this less enthusiasm is often termed as consumers resistance. Consumers’ resistance playsan important role in the success of innovation, as it can certainly inhibit or delay the consumeradoption, and has been termed as one of the major causes for market failure of innovations. 33
  • 46. BY AVIROOP MARKETING THESIS BANIKResistance leads consumers response towards three forms, it may take the form of rejection,postponement or opposition. Postponement Resistance Opposition Innovation RejectionPostponement occurs when consumers delay the adoption of an innovation. It simply “refers topushing the adoption decision to future. Even though the innovation may be acceptable to them,but usually it is caused by situational factors, like e.g. waiting for the right time, to becomecapable, or to make sure the product/service works effectively. Postponement may take the formof acceptance or rejection after a certain time period.Opposition refers to “protesting the innovation or searching for further information after thetrial”. It is a kind of rejection, but the consumer is willing to test/check the innovation beforefinally rejecting it. The causes of opposition vary and can be many, e.g. habit resistance,situational factors, and consumers cognitive style might direct them to reject innovations. Mostimportantly, an opposition might lead the consumers to search for adequate information whichcan direct them to acceptance.On the other hand consumers might reject an innovation on the basis of existing awarenessabout the innovation when they understand that it is not suitable for them. Consumers maydirectly reject an innovation, which is the most extreme form of resistance. When a mass ofconsumers reject an innovation, manufacturers usually change or iterate/modify it appropriatelyand then re-introduce it in the market. Rejection may occur if the innovation does not offer anyvaluable advantage, is complex or risky, etc. Rejection can be of two types, passive and activerejection; where passive rejection occur when the innovation is never really adopted orimplemented, and active rejection occur when the innovation has been considered but laterrejected. 34
  • 47. BY AVIROOP MARKETING THESIS BANIK 5.2 What is consumers’ resistance?Consumers resistance has been defined as “Innovation resistance” is the resistance offered byconsumers to an innovation, either because it poses potential changes from a satisfactory statusquo or because it conflicts with their belief structure”.If the resistance cannot be broken down, adoption slows down, and the innovation is likely tofail. Firms need to understand consumers’ resistance, its reasons, and influencing factors; inorder to become much more efficient in their improvement efforts, and to identify ways toimprove competitiveness, productivity, and profitability. 5.2.1 Factors affecting consumers’ resistanceConsumer adoption of innovation depends upon several factors >> the most important of whichare specified as1. Consumers’ characteristics (psychological characteristics of consumers; how they view theinnovativeness with respect to that particular product/service), and2. Innovation characteristics (outcome and effects of innovation) Innovation characteristicsresearch represents the relationship among the attributes or characteristics of an innovation andthe adoption, use, or implementation of that innovation. 35
  • 48. BY AVIROOP MARKETING THESIS BANIK 5.2.2 Why understanding of these above factors is important?There is a need to identify and understand the factors that seem to most influence customersresistance to innovative products. It is important to study the effects of important factors (relatedto consumers characteristics and innovation characteristics) on consumers resistance that willreveal the importance of each factor, the intensity of their effect and their relationship. On theother hand, understanding the key factors of consumers and innovation characteristics that affectcustomers resistance is crucial for firms project team to improve its chances of making the rightdecisions throughout the design and development efforts argues that, the reasons for innovationresistance vary across different consumers, which affects the adoption processes of eachconsumer.These variances suggest that firms need to explore the different factors affecting consumerresistance to innovations in order to minimize the possibility of product failure. Part of theproblem is that consumers may not understand the characteristics of the innovation in the sameway as the manufacturers/marketers. Stem cell banking companies should consider the factorsinfluencing user’s adoption and resistance to banking their baby’s cord blood stem cells. 5.3 Resistance modelsThe concept of innovation resistance was presented by Sheth (1981) as the "less developedconcept" in diffusion research. He researched psychology of innovation resistance and proposedtwo psychological constructs which seems very useful in understanding the psychology ofinnovation resistance. These psychological constructs are; habit/behavior towards existingproducts and perceived risks associated with innovation adoption. Following this model, Ram(1987) discussed innovation resistance in more details and proposed a detailed model ofinnovation resistance, based on this model; innovation resistance can be viewed as dependent onthree sets of factors: Perceived Innovation Characteristics, Consumer Characteristics, and,Characteristics of Propagation Mechanisms.Ram’s model was later modified by Lee and Yu (1994), with the argument that consumersresistance is not dependent on propagation mechanism, as propagation mechanism can onlyinfluence innovation diffusion. Numerous studies have applied factors from consumerscharacteristics and innovation characteristics to assess consumer adoption of innovation, while 36
  • 49. BY AVIROOP MARKETING THESIS BANIKsome studies have applied these factors to assess consumers resistance. Below is a briefdiscussion to mention these studies. 5.4 Factors Affecting Consumers’ ResistanceThere are two kinds of factors that affect consumers’ resistance, and are based on consumers’characteristics and innovation characteristics.5.4.1 Innovation characteristics factors are related to the outcome and the affect of newproducts on consumers, which determine the amount of resistance generated and has the powerto predict consumer adoption and expected resistance. It has been found by some researchers thatinnovation characteristics provide greater explanation to consumers behavior towardsinnovation. Innovation characteristics research describes the relationship between the attributesor characteristics of an innovation and the adoption or implementation of that innovation.5.4.2 Consumers characteristics factors are the psychological characteristics of consumerse.g. how they view the innovativeness with respect to that particular product. Innovationresistance is dependent on the psychological characteristics of the consumer. The importantfactors that have been identified as relevant to consumer behavior in innovations context are:Personality, Attitudes, Value Orientation, Previous Innovative Experience, Perception, andMotivation. 37
  • 50. BY AVIROOP MARKETING THESIS BANIK 5.5 Hypotheses formulationTo identify the causal relationship among consumers resistance to stem cell banking and theabove discussed eight factors, I set up hypotheses based on the models of innovation resistanceand previous research findings. Following the above discussed literature on eight factors, apositivistic research paradigm was adopted and eight hypotheses have been constructed.5.5.1 Relative AdvantageRelative advantage is hypothesized to have negative effect on consumers resistance to stem cellbanking.Hypothesis 1: Lower the Relative Advantage, higher the consumers resistance to stem cellbanking.5.5.2 CompatibilityBased on the definition of compatibility in innovation perspective, stem cell bankingcompatibility is checked with consumers needs and life/work style. Following the past researchon compatibility, I hypothesize compatibility to have negative effect on consumers resistance tostem cell banking.Hypothesis 2: Lower the Compatibility, higher the consumers resistance to stem cell banking.5.5.3 ComplexityMost of the researchers have found complexity to have negative effect on consumers adoptionand positive effect on resistance so I hypothesize complexity to have positive effect onconsumers resistance to stem cell banking.Hypothesis 3: Higher the Complexity, higher the consumers resistance to stem cell banking. 38
  • 51. BY AVIROOP MARKETING THESIS BANIK5.5.4 Perceived RiskThree kinds of risk (financial, performance, and security risk) have been found as important incase of stem cell banking. Following the past research on perceived risk and consumers behaviortowards innovation, I hypothesize perceived risk to have positive effects on consumersresistance to stem cell banking.Hypothesis 4: Higher the Perceived Risk, higher the consumers resistance to stem cellbanking.5.5.5 Expectation for better products/healthcare servicesIt is measured by consumers expectation for “more convenient & useful healthcare services” andwith “lower prices”. I hypothesize expectations to have negative effect on consumers resistanceto stem cell banking.Hypothesis 5: Higher the expectation for better services, higher the consumers resistance tostem cell banking.5.5.6 MotivationMotivation drives consumers needs and intentions to adopt innovation. I hypothesize motivationto have negative effects on consumers resistance to stem cell banking.Hypothesis 6: Lower the Motivation, higher the consumers resistance to stem cell banking.5.5.7 Attitude towards existing products/servicesThis factor is used to find consumers satisfaction from existing products/services and it plays animportant role in driving consumers behavior toward innovations. This factor has been found tohave positive effect on consumers resistance towards innovation, and therefore I hypothesizeconsumers favorable attitude towards existing healthcare services have positive effect onconsumers resistance to stem cell banking.Hypothesis 7: The more favorable/positive consumers attitude towards existing healthcareservices, higher the consumers resistance to stem cell banking. 39
  • 52. BY AVIROOP MARKETING THESIS BANIK5.5.8 Self-EfficacyConfidence in ones ability to use/understand stem cell banking without any difficulty, mayincrease the chances of adoption, and will have negative effect on consumers resistance.Different researchers have found self-efficacy to have negative effect on consumer resistance andpositive effect on consumers adoption of innovative products, based on which I hypothesizeconsumers self-efficacy to have negative effect on resistance to stem cell banking.Hypothesis 8: Lower the Self-efficacy, higher the consumers resistance to stem cell banking. 5.6 Innovation Characteristics FactorsAccording to Ram, Kelly, and Kranzberg, innovation characteristics can be divided into twocontexts, first is consumer-independent context and second is consumers-dependent. Thefactors of consumer-independent context can be expected to create the same type of resistanceacross all consumers, and is thus out of the scope of this study. On the other hand, the affects ofConsumer-dependent factors vary across different consumers. Innovation characteristics(consumer-dependent) factors effect consumers’ decision making to adopt a new product, thesefactors are; relative advantage, compatibility, risk, complexity, and expectations for betterproducts (inhibitory effect on adoption of other innovations). Understanding these factors andtheir affect on consumers resistance is crucial for increasing the chances of innovation success.Following is the detailed discussion about each factor.Relative Advantage:The relative advantage of an innovation is the “degree to which an innovation is perceived asbeing better/superior than the idea it supersedes. Relative advantage can be presented ineconomic profitability, social benefits, time saved, hazards removed, and also perceivedusefulness (PU). Tornatzky and Klein (1982) found relative advantage to be an important factorin determining adoption of innovations, affecting consumers’ resistance negatively. Relativeadvantage as the dominant factor that predicts consumers’ intention to adopt or resist innovation.In general, perceived relative advantage of an innovation is positively related to its rate ofadoption and negatively related to consumers resistance. Relative advantage, in addition to itsdirect and negative effect on consumers resistance, has indirect impact on perceived risk. Ifconsiderable advantages are provided with a new product/service, the expected risk maybe 40
  • 53. BY AVIROOP MARKETING THESIS BANIKdecreased as consumers ignore its deficiencies/flaws. Moreover, relative advantage is positivelyrelated to compatibility and negatively related to complexity as compatible product can beutilized effectively and may increase its relative advantage, but relative advantage may decreaseif the new product/service is complex and consumers are unable to utilize it effectively.Compatibility:Compatibility is the degree to which prospective consumers believe that the new product fitswith their socio-cultural norms or is consistent with existing values, past experiences, style,behavior patterns, and needs. It has been regarded as an important component included inattitude development and is of special importance in technological markets. A general causeexpressed by different consumers for resisting or not adopting new product/service is "no need",even though all technological innovations usually bring about a number of benefits/advantagesfor consumers. Compatibility (or simply "congruence"), in prior research has been found as acrucial factor than can predict consumers adoption and resistance behavior. There are twoaspects of innovation compatibility: (1) it may refer to compatibility with the values or norms ofthe potential adopters or (2) may represent congruence with the existing practices of theadopters. The first is a kind of psychological or cognitive compatibility (e.g. compatibility withwhat people feel or think about a technology) while the second is a more practical/operationalcompatibility (e.g. compatibility with people practices). Culture and previous experience withproducts can determine (to some extent) consumers sense of security with innovation.Compatibility may lead the innovation evaluative process due to its direct affect on purchaseintention and other attributes. Research suggests that compatibility has a large and direct positiveeffect on purchase intentions; as if an innovation is perceived compatible, it is most probable thatconsumers will learn and get information about the innovation. On the other hand, the adoptionrate is affected by the old/existing products, the more compatible the old/existing products are,the less consumers intentions to adopt new products and hence more consumers resistance.Complexity:Complexity can be defined as “the degree to which the innovation is perceived as relativelydifficult to understand, use or comprehend. This definition has been followed by some otherresearchers.Different researchers have found complexity as negatively related to the innovation diffusion andpositively related to innovation resistance. An innovative product/service with considerablecomplexity demand more skills and efforts (to implement and use innovation) to increase itsadoption and decrease the possibility of consumers resistance. It is generally believed thatinnovative products that are less complex are easily adopted by consumers. There exist anegative relationship between complexity and relative advantage, as if a product/service isperceived as complex, it will be difficult for consumers to try it and hence cannot be utilized for 41
  • 54. BY AVIROOP MARKETING THESIS BANIKits advantages. Complexity as a factor of consumers characteristics is expected to affectconsumers intention and lead towards adoption through relative advantage, risk, and also self-efficacy.Perceived Risk:Bauer (1960), Webster (1969), and Ostlund (1974) introduced risk as an additional dimension inthe diffusion and adoption of innovation, which is then added by Sheth (1981) and Ram (1987)as another factor affecting consumers’ resistance. Here I am talking about the degree ofperceived risk associated with adopting & using healthcare innovation. It is believed aspositively related to consumers’ resistance and negatively related to adoption. Newertechnologies may be perceived by consumers as more risky.Perceived risk is believed to have positive relationship with consumers’ resistance. Even insituations, where a consumer has evaluated and considered to adopt an innovation, perceived riskand uncertainty create substantial barriers to adoption. Innovation always involves some degreeof perceived risks because of uncertainty, so innovation that associated with considerableperceived risk, has slower rate of diffusion and higher consumers’ resistance. 42
  • 55. BY AVIROOP MARKETING THESIS BANIKFollowing are the definitions of the perceived risk dimensions:a) Financial risk captures the financially negative outcomes for consumers after they adopt newproducts/services. It is also called the fear of economic loss.b) Performance risk concerns with the belief that the new product / service will not perform asanticipated. It is also called the fear of performance uncertainty.c) Physical risk is the perception that products/service will be physically harmful to adopters.d) Time risk relates to the perception that the adoption and the use of the product/service willtake too much time.e) Social risk has to do with the negative responses from consumers’ social network. Ram calledit “the fear of social ostracism or ridicule”.f) Psychological risk is the fear of psychological discomfort. The nervousness arising from theanticipated post-purchase emotions such as frustration, disappointments, worry, and regret.Expectation for better products/services:According to Ram’s model of innovation resistance, inhibitory effect on the adoption of otherinnovations is one of factors that affect innovation resistance. In some cases, the adoption of oneinnovation products/services may have an inhibitory effect on the adoption of other innovations.If a person purchases an innovative product such as expensive high resolution digital cameras,the person is not likely to purchase another new digital camera with improved performance andmore features within a short period of time. The person is postponing his/her purchases. He/shereasons, quite correctly, that if he/she waits, a better product with a lower price tag will soon bein the market. 43
  • 56. BY AVIROOP MARKETING THESIS BANIK 5.7 Consumers Characteristics FactorsFor this study I have chosen Motivation, Self efficacy and Attitude towards existingproducts/services, as motivation is believed as the central key factor driving consumer behavior,and “attitude towards existing products/services” is to examine the role of existing healthcareservices in driving consumers’ resistance. Moreover self-efficacy has been added, as it believedto play a major role in technological innovative products. One of purposes behind choosing thesefactors is because of their easy measurement procedure and intensive use by differentresearchers.Motivation:Motivation is defined as “goal-directed arousal” that drives consumers need. It entails internalprocesses that provide behavior with power and direction. Power describes the strength,determination, and concentration of the concerned behavior, while direction provides a specificpurpose to the behavior theorized that behavior can be motivated extrinsically and intrinsically.Based on this, motivation is divided in two types, the extrinsic motivation and intrinsicmotivation which are two kinds of drivers that evoke a specific outcome behavior. Perceivedusefulness and perceived enjoyment are typical examples of extrinsic and intrinsic motivationrespectively, in technology adoption context.Extrinsic motivation involved performing an activity for achieving other goals i.e. to gain othervalued outcomes rather than the activity itself e.g. a decision to use computer for writing a letterwhere behavior is driven by its perceived value and expected benefits. Perceived usefulness (PU)and perceived ease of use (PEOU) are the two paradigm of extrinsic motivation, and found that ifusers perceive something (healthcare technology) to be useful and easy to use, it is moreprobable that they will use it. Consumers perceived usefulness increases through increase inperceived ease of use. In Technology Acceptance Model (TAM) the two factors, PU and PEOUare widely applied in research studies on technology acceptance.Intrinsic motivation involves performing an action for its own sake, as the action is itselfexciting, engaging, entertaining etc. It means the passion to do an activity for the reward whichderives from the enjoyment of the activity itself e.g., expressing personality and status by using aproduct. Looking at the perspective of intrinsic motivation, behavior is provoked from thefeelings of pleasure, joy, and fun. It has been empirically proved that both extrinsic (e.g.,perceived usefulness and perceived ease of use) and intrinsic (e.g., perceived enjoyment)motivators are important to the formation of intention to use (adoption). 44
  • 57. BY AVIROOP MARKETING THESIS BANIKAttitude towards existing products/services:This is a general factor, which examines consumers attitude toward existing products/servicesand is influenced by tradition and the abilities of existing product in serving consumers needsand wants. The tradition value is associated with individual’s favorable attitude towards the pastand present, and shows individual’s respect for culture, social norms, and traditions. Thetradition value implies consumer’s favorable attitude toward the products/services that they arecurrently using. In such case, consumers will be unwilling to replace their old and still functionalproducts/services with innovative products/services. In this era, products life cycle is becomingshorter and shorter and competition getting tougher, new products/services are coming in themarket with much faster pace, and existing products/technologies/services often becomeoutdated very quickly and prematurely. Due to which, plenty of opportunities are available toconsumers to abandon their existing products/services, and switch to much advanced/improvednew products/services. But, consumers with strong favorable attitude toward existingproducts/services will resist innovative products/services and will continue using their existingproducts/services until they fail to function. It has also been found by researchers that consumerswho are not satisfied with the existing products/services are more likely to adopt change and gofor new products/services; on the other hand, consumers who are satisfied with the existingproducts/services will keep up using the same.Self-Efficacy:Self-efficacy as “an individual’s perception of his or her ability to use a technological innovativeproduct”. Self-efficacy is a determinant of perceived ease-of-use and the usability ofproduct/service. It is also defined as, “an individual’s self-confidence in his or her ability toperform a behavior”. Self-efficacy refers to the confidence in one’s ability and competence tomanage and perform the courses of action required to accomplish a desired outcome, andinitiates from different origins including performance achievement, previous experience,personal interests, etc. It has been found by some researchers that self-efficacy has the power toforesee intentions to use a variety of technological innovation. A consumer with low self-efficacy will probably select a product/service which can be handled easily, even if there arebetter/advance products/services available.Consumers self-efficacy and their perception bring about a causal relationship between theadoption of technological innovation and consumers cognitive factors. Across a wide range ofbehaviors, self-efficacy has been shown to influence the willingness to act as well as actualaction initiation. 45
  • 58. BY AVIROOP MARKETING THESIS BANIK 5.8 Theoretical model of consumers Resistance to stem cell bankingFollowing my research problem, purpose, and the formulated hypotheses, I’ve constructed atheoretical model to express the hypothesized relationship between consumers resistance andfactors of innovation & consumers characteristics.This model will be applied in my analysis of empirical data, collected through questionnaires.Accordingly, the factors; relative advantage, compatibility, expectation for better/extendedservices, motivation, and self-efficacy are hypothesized to have negative relationship (-ve effect)with consumers resistance to stem cell banking. This means that increase in these factors willdecrease consumers resistance to stem cell banking and vice versa.On the other hand, the factors; complexity, perceived risk and attitude towards existing products,are hypothesized to have positive relationship (+ve effect) with consumers resistance to stemcell banking. This means that increase in these factor will increase consumers resistance to stemcell banking and vice versa.Empirical data is analyzed on the basis of this model to; • test the hypothesis, • answer the research questions and • achieve the purpose of this study. 46
  • 59. BY AVIROOP MARKETING THESIS BANIKConsumer characteristics Innovation characteristics (Independent variables) (Independent variables) Fig: 10- Theoretical Model of Innovation Resistance to stem cell banking Relative advantage Motivation H1 (-) Compatibility H6(-) H2(-) Attitude Consumer’s resistance towards towards Umbilical Complexity existing H7(+) stem cell banking healthcare H3(+) services (Dependent variable) H4(+) Perceived risks H5(-) H8(-) Self efficacy Expectation for better/extende d service 47
  • 60. BY AVIROOP MARKETING THESIS BANIK 6 Quantitative MethodsIn this chapter, I have discussed different available methods and why certain methods arechosen as appropriate for performing this study. Moreover, I have discussed how this studyhas been conducted through the selected method.6.1 Research Philosophy:In research philosophy, there are three dominant scientific approaches about the researchprocesses on how knowledge can be created.These three views are positivism, interpretivism/hermeneutics and realism, where positivismand hermeneutics are termed as the opposite poles of each other.In the positivism philosophy, researcher and the interpretations are assumed as objective andvalue-free, and there is relatively high level of generalization. Positivism holds the notion ofobjectivity and the author/researcher is independent of the research subject and is not affectednor has any effect on the subject but play a role of statistical analyzer. Where, theinterpretation/discussion is made only on the basis of actual findings. In positivism, existingtheories are used to develop and test hypothesis for further theory development, which may betested in future research. For the purpose of facilitating replication, highly structured statisticalanalysis is done on the basis of quantifiable-observation/quantitative-data.In the interpretivism/ hermeneutics view, there is a reduced level of generalization because ofcomplex and often unique business circumstances, where researchers have deep interaction andoften significant effect on interpretation and results. The interpretation and results are somehowaffected (unintentional) even if the researcher(s) have strong desire to avoid. The objective ofhermeneutics is to gain a good understanding of the subject reality, which is often a challengebecause of changing business world. Researchers close interaction and interpretation is crucial inunderstanding the subject in meaningful ways.The third research philosophy “realism” is another epistemological position related to scientificenquiry. In realism, the reality is assumed as the truth and exist independent of human thoughtsand beliefs. Interpretation and behaviors are affected by social forces regardless of theirawareness. Realism aims to understand the subjective reality concerning people in a broadersocial environment which has an effect on people’s views and behaviors.The preference of philosophy is based on the choice of research question, and usually there is amixture of the three philosophies. 48
  • 61. BY AVIROOP MARKETING THESIS BANIKFor this thesis, the philosophies considered to be most appropriate are positivism and to someextent realism. As positivism believes that an assumption is only correct when it corresponds tothe reality, where existing theories are used to test hypothesis through statistical analysis inrelation with empirical case, which is the purpose of this study. Secondly, realism approachassumes that existing theories are determined through testing against empirical data. In order totest the power of prediction and/or explanation it is believed as crucial to test them frequently,quantitative data should be used and theory testing is performed through statistical tools andexploring the relationships.In this study, the empirical data collected from different people in Mumbai, Bangalore, Tripuraand Gujarat (through survey questionnaires), is based on their belief/opinions about my empiricalcase (stem cell banking). Thus, it is aimed to understand peoples subjective reality, i.e.“realism”, which has effects on people views/behavior. After collecting empirical data(quantifiable), statistical analysis has been done to test the hypotheses which are constructed onthe basis of existing theories. So another philosophy to be considered for this study is positivism.6.2 Research Method:There are two methods of conducting research, which are; qualitative and quantitative methods,where no method is considered to be better than another. Research questions should be taken inconsideration before deciding for the most suitable method of conducting study. Where, why andhow questions are generally followed by qualitative research and, what, where and whenquestions are generally followed quantitative research.When a study involved statistical conclusion, quantitative research is conducted while thequalitative approach of research deals with processes, such as analyzing non-numeralinformation, which is out of the scope of this study. Moreover, quantitative approach is stronglylinked with hypothesis testing, keeping in view the purpose of this study, quantitativemeasurements (statistical analysis) have been done in order to be able to objectively interpret andanalyze the data of a larger sample.6.3 Research Strategy:The different choices of strategies available are; experiment, survey, case-study, action research,grounded theory, ethnography and archival research. Surveys allow for gathering large quantityof data from a sample of population in an economical and efficient way. Considering the purposeof this thesis, it is not possible to use interview and or observation (qualitative method) instead Ihave chosen to use the survey through questionnaires which is argued as a useful tool forgathering information on a wide variety of topics using quantitative method. Survey is a popular& common strategy, used to answer “what”, “who”, & “how much/many” questions. This 49
  • 62. BY AVIROOP MARKETING THESIS BANIKstrategy is comparatively easy to understand and explain, as it collects quantitative data on whichinferential or descriptive statistics is applied to derive meaningful results. 6.4 Data CollectionThere are two kinds of data collection sources, primary and secondary sources. Where primarydata is referred to the information gathered firsthand by the researcher, specifically for achievingthe study purpose. While secondary data refer to information obtained from already existingsources, and are collected for other purposes but can be re-used for different purposes.So, most of the time it is not possible to achieve the research objective by only using secondarydata, as it doesn’t fully match the specific purpose of the study, and may draw a skewed picture.The aim of this study is to find consumers behavior based on a set of selected factors, for whichit is important to collect primary data with addition to secondary data. Secondary data iscollected from multiple sources, which mostly include journal articles, books, and web/onlineinformation. Primary data can be collected through interviews, observations, and questionnairesurveys. Considering the purpose of this study questionnaire survey is the most appropriatemethod of primary data collection, as there are large numbers of respondents targeted in a widegeographical area. Questionnaire and E- questionnaire survey is a very cost efficient, free frominterviewer effect, and useful; easily accessing a wide range of sample in less time. 6.5 SamplingIt might be rarely possible to collect data from every suitable member/case, which is calledcensus, however due to certain limitations of time and cost; it is often impossible andimpracticable to do so. Sampling is a process of choosing a sufficient number ofelements/cases/individuals from the population, where population is the entire group of people,events, or elements of interest that researcher desires to investigate.There are two major kinds of sampling design, probability and non-probability sampling.Probability sampling utilizes some form of random selection, where all theelements/cases/individuals in the targeted population have the same probabilities of beingchosen. Probability sampling is used when the representativeness of the population is ofimportance to make wider generalizability. Non-probability sampling does not involve random 50
  • 63. BY AVIROOP MARKETING THESIS BANIKselection, which means that the population elements have no probability associated, to beselected as subject sample. The disadvantage of non-probability sampling is that the resultscannot be generalized confidently. Whether to use probability or non-probability samplespecifically depends upon researchers concerns about three factors, which are time,cost/approach and generalizability. If researchers are more concerned about generalizability, it isrecommended to use probability sampling, on the other hand, if researchers are more concernedabout time and cost (and have limited approach) and less concerns for generalizability, non-probability sampling is recommended. For this study, our concern about time and cost (also ourlimited approach) outweigh the concerns for generalizability, and hence non-probabilitysampling is done.There are three common techniques of non-probability sampling; Convenience, Judgment, andQuota sampling. Where, convenience sampling is the widely used techniques, as it is a least timeconsuming and least expensive way, enabling the researcher to collect a large number ofresponses. The major disadvantage of convenience sampling is that, it is prone to bias, samplingerror, and less generalizable. The Web-based/online questionnaire is designed, to get responses,as much as possible. With addition to web-based/online questionnaire, hard copy questionnairesare filled by conveniently accessible people in Mumbai. The link of online questionnaire hasbeen sent via email to different people to access a large number of potential respondents(https://spreadsheets.google.com/spreadsheet/viewform?formkey=dDVmOWtVbG1kOGZxRkFZV2RSZTFNY0E6MQ). Facebook is also used to send questionnaires.6.5.1 Sampling plan: Sampling unit consists of middle class and upper middle class people . 51
  • 64. BY AVIROOP MARKETING THESIS BANIK6.5.2 Sample size:6.5.3 Sampling procedure:6.6 Contact methods: 52
  • 65. BY AVIROOP MARKETING THESIS BANIK 6.7 Data Analysis and ToolsBoth Smart-PLS and SPSS statistical software have been used to perform statistical analysis, andachieve the desired objectives of the study. First, a large questionnaire was designed and allrelated variables/questions (for measuring the selected factors) have been included.Likert scale from 1 to 5 has been used to measure the constructed variables (where 1=stronglyagree, 2=agree, 3=neutral, 4=disagree, 5=strongly disagree).Keeping in view the objectives, this study implements structural equation modeling (sometimescalled path analysis), which is used to find multiple relationships of dependent & independentvariables. Results are estimated (derived) through partial least square (PLS) approach using asample of 100 respondents. 6.8 Statistical MethodsThis study deal with the measurement of many factors (Eight factors of innovationcharacteristics & consumers characteristics) through different variables/questions, thereforemultivariate analysis has been done through structural equation modeling (SEM). Multivariateanalyses are statistical techniques that simultaneously analyze multiple measurements onindividuals/objects under study.Structural equation modeling (SEM) is a statistical method that allows separate relationshipsfor each dependent variable set, and provide very efficient estimation procedure for many andseparate multiple regression equation that are estimated simultaneously. It is described into twocomponents; structural model & measurement model, where structural model is a path modelwhich relate/associate dependent with independent variables (Eight factors as independent &consumers resistance as dependent variable in our case). The measurement model allowsresearcher to use several variables/indicators (questions) to measure a single independent and/ordependent variables. 53
  • 66. BY AVIROOP MARKETING THESIS BANIK6.8.1 Hypothesis testing:Following a structural equation modeling, the results are estimated with the help of partial leastsquare (PLS) Smart-PLS and then by SPSS 12.0 software to test the hypotheses. Looking at thevalue and signs of coefficients, T-values (t-statistics) has been considered, following the rule ofthumb (t-value >2 = significant), to accept or reject the hypotheses.6.8.1.1 SmartPLS 2.0 - Partial Least Square (PLS):PLS is similar to using multiple regression analysis to find the relationships formulated in amodel. It is used to predict the linear conditional expectation relationship between dependent andindependent variables. PLS is based on variance, is distribution free, prediction orientedapproach, and has been extensively applied in marketing studies. It explicitly derives (estimates)the values/scores of the (unobserved) latent variables (consumers and innovation characteristicsfactors in this case) as weighted aggregates of their observed, manifest variables (the questions inthis case). PLS is a robust technique, as it provides solutions even when problems exist that mayprevent a solution in using AMOS or LISREL approaches of structural equation modeling. It isvery easy to handle a large number of measured and or construct variables through PLS. One ofthe major advantages of PLS is that, it is very useful in generating estimates even with very smallsample size. Software called SmartPLS is the most prevalent implementation as a path model. Fig: 11- SmartPLS 2.0 (PLS-Partial Least Square) 54
  • 67. BY AVIROOP MARKETING THESIS BANIK Fig: 12- SmartPLS 2.0 layout6.8.1.2 Correlation:Correlation is a statistical tool, used to find the direction and strength of relationship betweenvariables/factors. Correlation provided me the type & direction of inter-relationship and intensityof relationship among my factors. The values for correlations are provided by both SmartPLSand SPSS. 55
  • 68. BY AVIROOP MARKETING THESIS BANIK 7 Analysis by SmartPLSIn this chapter, I have performed statistical analysis on empirical data. Two softwares(SmartPLS2.0) of Structural Equation Modeling (SEM) and SPSS12.0 (used later in thestudy) have been used to get results. Based on these analyses, the constructed hypotheses aretested, and research questions are answered.7.1 Testing Hypotheses:After getting empirical data from the questionnaires, SmartPLS has been used to estimate resultsfor hypothesis testing and answer other research questions.7.1.1 Partial Least Square:The following diagram shows the output results from SmartPLS. The values/scores with thepaths (arrows) from independent variables (consumers and innovation characteristics factors) todependent variable (consumers resistance) show the regression coefficients. The regressioncoefficient is interpreted as the rate of change in dependent variable (consumer resistance) as afunction of change in independent variables (factors).Abbreviations: CMPLX Complexity of understanding and using stem cell banking COMPA Compatibility of stem cell banking CR Consumer Resistance towards stem cell banking PPM Postponement to adopt stem cell banking OPPO Opposition for stem cell banking REJEC Rejection to stem cell banking EXFBS Expectation For Better Services MOTI Motivation to use stem cell banking PR Perceived Risk towards stem cell banking RA Relative Advantage of stem cell banking SE Self Efficacy of stem cell banking ATTEHS Attitude Towards Existing Healthcare Services/operation etc 56
  • 69. BY AVIROOP MARKETING THESIS BANIK 7.1.1.1 Empirical Model of Consumer Resistance to stem cell banking showing regression coefficients (red underlined) derived from SmartPLS Fig: 13- Regression coefficients (red underlined) derived from SmartPLS 57
  • 70. BY AVIROOP MARKETING THESIS BANIK 7.1.1.2 Factors Relationship with Consumers Resistance represented by t- values (red underlined) using SmartPLS Fig: 14- t values (red underlined) using SmartPLS 58
  • 71. BY AVIROOP MARKETING THESIS BANIK7.2 Results Discussion:Here, I have specifically followed PLS approach, as it is a robust method and insensitive to thesample size. Below table presents findings from Smart-PLS, where B values are the coefficientsof regression and t-value are used to decide on the significance. Expectedly, t-value with greatervalue of regression coefficients is found higher. Following the rule of thumb, t-value greater thantwo (T>2) is considered as significant, and are used for making decisions on the constructedhypotheses. Factors Hypothesis Regression t value Significance coefficient (B) Relative H1 -0.109 2.0 Significant advantage Compatibility H2 -0.044 0.754 Non-significant Complexity H3 +0.228 2.952 Significant Perceived risk H4 +0.375 5.037 Significant Expectation for H5 -0.092 1.580 Non-significant better service Motivation H6 -0.182 2.271 SignificantAttitude towards H7 +0.020 0.488 Non-significantexisting products Self efficacy H8 -0.058 1.035 Non-significant Table: 1- Results from SmartPLS • Interpretation from SmartPLS:The above table and figures from SmartPLS show that the hypotheses H1, H3, H4 and H6 aresupported (except H2 i.e. Compatibility, H5 i.e. Expectations for better services, and H8 i.e. Self-Efficacy. • Interpretation of “relative advantage” of stem cell banking among respondents: Respondents, who feel that stem cell banking is relatively more advantageous, have expressed less resistance. 59
  • 72. BY AVIROOP MARKETING THESIS BANIK • Interpretation of “complexity and perceived risk” of stem cell banking among respondents: From the above fig. and table, I found that complexity and perceived risk has positive effects i.e. increase consumers’ resistance. Perceived risks of stem cell banking are found to be most critical one with highest regression coefficient value. So, respondents who feel that stem cell banking is more complex and risky have shown more resistance. • Interpretation of “motivation” for stem cell banking among respondents: As stated by MacInnis and Moorman (1991), motivation is a “goal directed arousal” which drives consumers’ needs. Respondents who have shown strong motivation to adopt stem cell banking service have expressed no or less resistance to it. • Interpretation of “compatibility” of stem cell banking among respondents: Compatibility and resistance has been found as negative which is in line with previous findings by various other researchers, but is not significant to support my hypothesis. This shows that respondents who express resistance do not really think that stem cell banking is not compatible. On the other hand, respondents who expressed no or less resistance do not really think that stem cell banking is much compatible. • Interpretation of “expectations for better service” of stem cell banking among respondents: The factor “expectations for better service” has been found as negatively related with consumers resistance. People are not expecting any further extended service (like genetic testing. From the empirical data, I can elaborate on that; no matter respondents resist stem cell banking or not, not most of them have sufficient expectations for better extended services like genetic testing for their babies. • Interpretation of “self-efficacy” of stem cell banking among respondents: The relation between self efficacy and consumers resistance has been found negatively related and also non-significant. It means that, decrease in self efficacy to handle stem cell banking would increase the consumer resistance to use the service. But here, I’ve found that, after explaining people about the usage of stem cell banking service, they found it easy to use without much confusion. People seems more confident in using this new healthcare service but only if the concept is explained easily and properly. In this case, self-efficacy has been found as un-important to be 60
  • 73. BY AVIROOP MARKETING THESIS BANIK significant. Most of the respondents feel that they have sufficient self efficacy to use stem cell banking, no matter they resist it or not.Referring to the first research question, the below table mention (i) the causal relationshipsbetween resistance and innovation characteristics factors, (ii) the causal relationships betweenresistance and consumers characteristics factors. Factors Causal relationship Regression with consumers’ coefficient resistance Innovation Relative advantage Negative -0.109 characteristics Complexity Positive +0.228 Perceived risk Positive +0.375 Consumers’ Motivation Negative -0.182 characteristics Table: 2- Causal relationship between hypothesized factors and resistance to stem cell banking • Interpretation: • Causal relationship between consumer resistance and relative advantage (Innovation characteristics): Following the above table, it is evident that there is a negative causal relationship between consumers resistance to stem cell banking and relative advantage of stem cell banking as innovation characteristics factor. It means, decrease in relative advantage of stem cell banking would increase the consumer resistance. • Causal relationship between consumer resistance and perceived risks and complexity (Innovation characteristics): There is positive causal relationship between consumers resistance to stem cell banking and perceived risk, and also a positive causal relationship between resistance to stem cell banking and complexity. So, increase in perceived risk and complexity will increase consumers resistance to stem cell banking. 61
  • 74. BY AVIROOP MARKETING THESIS BANIK • Causal relationship between consumer resistance and motivation (Consumers’ characteristics): On consumers characteristics side, there is a negative causal relationship between motivation and resistance to stem cell banking. Hence, increase in motivation will decrease consumers resistance to stem cell banking. The hypothesized factors in the model of consumers resistance represented almost 90% (Coefficient of determination i.e. R2=0.899), variation in consumers resistance that is caused by these factors. In other words, 90% variation in consumers resistance is explained (caused) by innovation and consumers characteristics factors, which indicates an acceptable goodness of fit of the model. (The goodness of fit of a model indicates how well it fits a set of observations/empirical data). Among all the significant factors, perceived risk of stem cell banking, with highest regression coefficient, found to be more prevalent in respondents. Marketers should devise new strategies to bring down the level of perceived risks among respondents. 62
  • 75. BY AVIROOP MARKETING THESIS BANIK 7.3 Regression Equation CR= α + β1+β2+β3+β4+β5+ β6+ β7+ β8 + γ Where, CR = Consumers Resistance towards stem cell banking (SCB) α = Intercept β1 = Relative advantage of SCB β2 = Compatibility of SCB β3 = Complexity of SCB β4 = Perceived Risk of SCB β5 = Expectation for better services in SCB β6 = Motivation to adopt SCB β7 = Attitude towards existing healthcare services/operation to treat diseases β8 = Self-efficacy of SCB and γ can be other factors affecting consumers resistance CR = α–0.109β1–0.044β2+0.228β3+0.375β4-0.092β5–0.182β6+0.020β7-0.058β8 + γ The values with positive and negative signs are the regression coefficients derived from smartPLS.CR = α–0.109β1–0.044β2+0.228β3+0.375β4-0.092β5–0.182β6+0.020β7-0.058β8 + γ–0.109β1= when “relative advantage” goes up by 1, consumer resistance goes down by 0.109.–0.044β2= when “compatibility” goes up by 1, consumer resistance goes down by 0.044.+0.228β3= when “complexity” goes up by 1, consumer resistance also goes up by 0.228+0.375β4= when “perceived risks” goes up by 1, consumer resistance also goes up by 0.375-0.092β5= when “Expectation for better products” goes up by 1, consumer resistance goes down by0.092–0.182β6= when “motivation” goes up by 1, consumer resistance goes down by 0.182 63
  • 76. BY AVIROOP MARKETING THESIS BANIK+0.020β7= when “attitude towards existing healthcare services/operation” goes up by 1, consumerresistance also goes up by 0.020.-0.058β8= when “self-efficacy” goes up by 1, consumer resistance goes down by 0.058. 64
  • 77. BY AVIROOP MARKETING THESIS BANIK 7.4 Factors inter-relationship (Correlation output in Smart- PLS)To find the inter-relationship between the hypothesized factors, correlation has been derivedfrom SmartPLS. The following table shows the correlation of all the factors, representing thedirection and strength of inter-relationship between these factors. Table: 3- Factors correlationAbbreviations: CMPLX Complexity COMPA Compatibility CR Consumer Resistance EXFBS Expectation For Better Services MOTI Motivation PR Perceived Risk RA Relative Advantage SE Self Efficacy Attitude Towards Existing ATTEHS Healthcare Services 65
  • 78. BY AVIROOP MARKETING THESIS BANIKPositive correlation between the factors: • Complexity and perceived risks: Complexity in stem cell banking has found to be positively correlated with perceived risks. It means that if consumers find stem cell banking more complex to understand and enroll, they would perceive more risks towards this new technology. (0.776102) • Compatibility and expectation for better services: Compatibility of stem cell banking has found to be positively correlated with expectation for better services. It means that if consumer finds stem cell banking fits with their lifestyle, they also want other better services like genetic testing of their babies along with storing the stem cells. (0.395620) • Compatibility and motivation: Compatibility of stem cell banking has found to be positively correlated with motivation. It means that if consumer finds stem cell banking fits with their lifestyle, they would be motivated to understand and enrolling for this service in the future. (0.677213) • Relative advantage and compatibility: Relative advantage of stem cell banking has found to be positively correlated with compatibility. It means that if consumers find stem cell banking more adventitious, they would also find it more compatible with their lifestyle. (0.551765) • Compatibility and self efficacy: Compatibility of stem cell banking has found to be positively correlated with self efficacy. It means that if consumers think that adopting this technology fits with his/her lifestyle then he/she would also confident of understanding and using (self efficacy) stem cell banking service. (0.443800) • Motivation and relative advantage: Motivation to adopt stem cell banking service has found to be positively correlated with relative advantage. It means that if consumers find stem cell banking more adventitious, then it would motivate them to adopt this new healthcare service.(0.704521) • Motivation and self efficacy: Motivation to adopt stem cell banking service has found to be positively correlated with self efficacy. It means that if consumers are motivated, they would also confident of understanding and using (self efficacy) stem cell banking service. (0.739940) • Relative advantage and self efficacy: Relative advantage of stem cell banking service has found to be positively correlated with self efficacy. It means that if consumers find stem cell banking more adventitious, they would also confident of understanding and using (self efficacy) stem cell banking service.( 0.708674) • Complexity and attitude towards existing healthcare services/operation etc: Complexity to understand stem cell banking service has found to be positively correlated with attitude towards existing healthcare services/operation etc. It means that, if consumers find stem cell banking more complex, they would remain unmoved from existing healthcare services for terminal diseases. And in this case, it would be very 66
  • 79. BY AVIROOP MARKETING THESIS BANIK difficult to change their attitude towards existing healthcare services/operation etc. (0.019291) • Attitude towards existing healthcare services/operation etc and perceived risks: Both of them are positively correlated. It means that consumers find current healthcare services are more efficient in treating any terminal disease then in this case they would also perceive more risks in stem cell banking. (0.021171) • Motivation and expectation for better services: Both of them are positively correlated. It means that if consumers are motivated to adopt stem cell banking service then they would also expect better extended service (like genetic testing etc) along with storing stem cells. (0.690939) • Relative advantage and expectation for better services: Both of them are positively correlated. It means that if consumers find stem cell banking more adventitious, then they would also expect better extended service (like genetic testing etc) along with storing stem cells for their babies. (0.574607) • Self efficacy and expectation for better services: Both of them are positively correlated. It means that if consumers are confident of understanding and using (self efficacy) stem cell banking service then they would also expect better extended service (like genetic testing etc) along with storing stem cells for their babies. (0.627651)Negative correlation between the factors: • Complexity and compatibility: Both of them are negatively correlated. It means that if consumers find stem cell banking more complex to understand then they find difficulty in fitting this technology in their lifestyle. (-0.594872) • Complexity and expectation for better services: Both of them are negatively correlated. It means that if consumers find stem cell banking more complex to understand then they wouldn’t expect any further extended better services from stem cell banking company. (-0.673705) • Complexity and motivation: Both of them are negatively correlated. It means that if consumers find stem cell banking more complex to understand then it would diminish the motivation to adopt this technology. (-0.605685) • Complexity and relative advantage: Both of them are negatively correlated. It means that if consumers find stem cell banking more complex to understand then they wouldn’t find this technology adventitious to adopt. (-0.624279) • Complexity and self efficacy: Both of them are negatively correlated. It means that if consumers find stem cell banking more complex to understand then they wouldn’t be confident of understanding and using (self efficacy) stem cell banking service. (-0.566324) 67
  • 80. BY AVIROOP MARKETING THESIS BANIK • Perceived risks and compatibility: Both of them are negatively correlated. It means that if consumers perceive more risks in stem cell banking then they find difficulty in fitting this technology in their lifestyle. (-0.697375) • Perceived risks and motivation: Both of them are negatively correlated. It means that if consumers perceive more risks in stem cell banking then it would diminish the motivation to adopt this technology. (-0.802144) • Perceived risks and relative advantage: Both of them are negatively correlated. It means that if consumers perceive more risks in stem cell banking then they wouldn’t find this technology adventitious to adopt. (-0.682976) • Perceived risks and self efficacy: Both of them are negatively correlated. It means that if consumers perceive more risks in stem cell banking then they wouldn’t be confident of understanding and using (self efficacy) stem cell banking service. (-0.654145) • Expectation for better services and perceived risks: Both of them are negatively correlated. It means that consumers would expect better extended services along with storing stem cells if there is lowering of perceived risks in adopting stem cell banking service. (-0.654877) • Attitude towards existing healthcare services/operation etc and expectation for better services: Both of them are negatively correlated. It means that if consumers hold a favorable attitude towards existing healthcare services/operation etc, then they wouldn’t expect better extended services (like genetic testing) along with storing stem cells. (-0.018153) • Maximum positive correlation values: Perceived risks and complexity (0.776102) • Maximum negative correlation values: Perceived risks and motivation (-0.802144) We can conclude that, PERCEIVED RISK is the most vital factor affecting the consumers’ resistance (both positively and negatively correlated with other independent variables to SCB in India. So, marketers need to focus more on reducing perceived risks for SCB among consumers. 68
  • 81. BY AVIROOP MARKETING THESIS BANIK 8 Conclusion (Answering the research questions)This chapter aims to conclude the analysis and findings, to specifically answer the researchquestions and fulfill the objective of the study.The hypothesized factors in the model of consumers resistance represented almost 90% (0.899,see fig.13) variation in consumers resistance that is caused by these factors (I.V). In other words,90% variation in consumers resistance is explained (caused) by innovation and consumerscharacteristics factors, which indicates an acceptable goodness of fit of the model. Based on theresearch questions and purpose of the study, here I conclude the results of my analysis:1. What are the causal relationships among innovation characteristic factors and consumersresistance to stem cell banking in India? Factors Hypothesis Regression t value Significance coefficient Relative H1 -0.109 2.0 Significant advantage Compatibility H2 -0.044 0.754 Non-significant Complexity H3 +0.228 2.952 Significant Perceived risk H4 +0.375 5.037 Significant Expectation for H5 -0.092 1.580 Non-significant better service Motivation H6 -0.182 2.271 SignificantAttitude towards H7 +0.020 0.488 Non-significantexisting products Self efficacy H8 -0.058 1.035 Non-significant Where, Innovation characteristic factors Consumer characteristic factors 69
  • 82. BY AVIROOP MARKETING THESIS BANIKFrom the above table, it is evident that hypothesis H1, H3, H4 and H6 are supported by theempirical data, which is in line with the previous findings from different studies.• Causal relationship between consumer resistance and relative advantage (Innovation characteristics): It is evident that there is a negative causal relationship between consumers resistance to stem cell banking and relative advantage of stem cell banking as innovation characteristics factor. It means, decrease in relative advantage of stem cell banking would increase the consumer resistance.• Causal relationship between consumer resistance and perceived risks and complexity (Innovation characteristics): There is positive causal relationship between consumers resistance to stem cell banking and perceived risk, and also a positive causal relationship between resistance to stem cell banking and complexity. So, increase in perceived risk and complexity will increase consumers resistance to stem cell banking.2. What are the causal relationships among consumers characteristic factors and consumersresistance to stem cell banking?• Causal relationship between consumer resistance and motivation (Consumers’ characteristics): On consumers characteristics side, there is a negative causal relationship between motivation and resistance to stem cell banking. Hence, increase in motivation will decrease consumers resistance to stem cell banking.3. What is the inter-relationship among the innovation & consumers characteristics factors?Positive correlation (strong): Perceived risks and motivation, Complexity and perceived risks,Motivation and relative advantage, Motivation and self efficacy, Relative advantage and selfefficacy, Motivation and expectation for better services, Self efficacy and expectation for betterservices,Negative correlation (strong): Complexity and expectation for better services, Complexity andmotivation, Complexity and relative advantage, Perceived risks and compatibility, Expectationfor better services and perceived risks. 70
  • 83. BY AVIROOP MARKETING THESIS BANIK4. Which factors of consumers and innovation characteristics mainly affect/determineconsumers resistance to Smart phones?Motivation, complexity, relative advantage, and perceived risk are found as the most criticalfactors (intensive as per their order) which affect/determine consumer resistance to stem cellbanking. Where motivation has -0.182, complexity has +0.228, relative advantage has -0.109,and perceived risk has +0.375 value of regression coefficient, which can be interpreted as; when“motivation” goes up by 1, “consumers resistance” goes down by 0.182, when “complexity”goes up by 1, “consumers resistance” also goes up by +0.228 etc.8.1 Suggestions for further researchThroughout this study, I found that innovation resistance has been called as very important in theinnovation literature, but relatively less research has been done in this area. So, it would bevaluable to do further research on innovation resistance from individual and or organizationalperspective. Also, it would be interesting to investigate, how innovative companies are dealingwith innovation and consumers characteristics factors, to overcome/decrease consumersresistance.Further research can be done, to analyze the model of consumers resistance for other innovativeproducts and also services. Also, the model of consumers resistance to stem cell banking can beextended and applied on empirical data, collected from other geographical areas. As discussed inthe sampling, I have used convenience sampling method in this study where results cannot begeneralized confidently. If accessible, probability sampling method can be used in further study,so that results can be confidently generalized to the study population. SPSS and SmartPLSsoftware used in this study are very useful for finding relationships (between differentvariables/factors) formulated in a model. These approaches can be used in further studies, to findthe cause/affect relationships between different variables in a model. 71
  • 84. BY AVIROOP MARKETING THESIS BANIK 9. DESCRIPTIVE STATISTICS >> USING SPSS 72
  • 85. BY AVIROOP MARKETING THESIS BANIKFrequencies Gender of the respondents Gender of the respondentsN Valid 100 Missing 0Mean 1.34Median 1.00Mode 1Std. Deviation .476Variance .227Range 1 Cumulative Frequency Percent Valid Percent PercentValid Male 66 66.0 66.0 66.0 Female 34 34.0 34.0 100.0 Total 100 100.0 100.0 Male=1 Female=2 73
  • 86. BY AVIROOP MARKETING THESIS BANIK Age of the respondentsAge of the respondents N Valid 100 Missing 0 Mean 1.26 Median 1.00 Mode 1 Std. Deviation .441 Variance .194 Range 1 Cumulative Frequency Percent Valid Percent Percent Valid 20-30 yrs 74 74.0 74.0 74.0 31-41 yrs 26 26.0 26.0 100.0 Total 100 100.0 100.0 20-30 years=1 31-41 years=2 42-52 years=3 Above 52 years=4 74
  • 87. BY AVIROOP MARKETING THESIS BANIK Religion of respondentsReligion of respondents N Valid 100 Missing 0 Mean 1.16 Median 1.00 Mode 1 Std. Deviation .545 Variance .297 Range 2 Cumulative Frequency Percent Valid Percent Percent Valid Hindu 92 92.0 92.0 92.0 Catholic 8 8.0 8.0 100.0 Total 100 100.0 100.0 Hindu=1 Islamic=2 Catholic=3 Sikh=4 Buddhist=5 Jain=6 Others=7 75
  • 88. BY AVIROOP MARKETING THESIS BANIK Level of education of the respondentsLevel of education of the respondents N Valid 100 Missing 0 Mean 2.52 Median 3.00 Mode 3 Std. Deviation .772 Minimum 1 Maximum 4 Cumulative Frequency Percent Valid Percent Percent Valid High school 13 13.0 13.0 13.0 Bachelor 26 26.0 26.0 39.0 degree Masters 57 57.0 57.0 96.0 degree Doctoral 4 4.0 4.0 100.0 Total 100 100.0 100.0 High school=1 Bachelor degree=2 Masters degree=3 Doctoral=4 Post doctoral=5 76
  • 89. BY AVIROOP MARKETING THESIS BANIK Annual income of the respondentsAnnual income of the respondents N Valid 100 Missing 0 Mean 1.66 Median 1.50 Mode 1 Std. Deviation .768 Minimum 1 Maximum 4 Cumulative Frequency Percent Valid Percent Percent Valid 0-3 50 50.0 50.0 50.0 lacs/annum 3-6 36 36.0 36.0 86.0 lacs/annum 6-9 12 12.0 12.0 98.0 lacs/annum 9-12 2 2.0 2.0 100.0 lacs/annum Total 100 100.0 100.0 0-3 lacs/annum=1 3-6 lacs/annum=2 6-9 lacs/annum=3 9-12 lacs/annum=4 12-15 lacs/annum=5 Above 15 lacs/annum=6 77
  • 90. BY AVIROOP MARKETING THESIS BANIK Marital status of the respondentsMarital status of the respondents N Valid 100 Missing 0 Mean 1.56 Median 2.00 Mode 2 Std. Deviation .499 Minimum 1 Maximum 2 Cumulative Frequency Percent Valid Percent Percent Valid married 44 44.0 44.0 44.0 Single 56 56.0 56.0 100.0 Total 100 100.0 100.0 Married=1 Single=2 78
  • 91. BY AVIROOP MARKETING THESIS BANIK Awareness of stem cell banking among the respondentsAwareness of SCB among the respondents N Valid 100 Missing 0 Mean 2.25 Median 3.00 Mode 3 Std. Deviation .869 Minimum 1 Maximum 3 Cumulative Frequency Percent Valid Percent PercentValid Ive heard about stem cell banking but do not know about it 28 28.0 28.0 28.0 Ive heard about stem cell banking and also know about its 19 19.0 19.0 47.0 I never heard about stem cell banking and do not know about 53 53.0 53.0 100.0 Total 100 100.0 100.0 I’ve heard about stem cell banking but do not know about its concept of functioning-1 I’ve heard about stem cell banking and also know about its concept of functioning-2 I never heard about stem cell banking and do not know about its concept of functioning-3 79
  • 92. BY AVIROOP MARKETING THESIS BANIK Opinion on SCB promotion in India among the respondentsOpinion on SCB promotion in India among the respondents N Valid 100 Missing 0 Mean 1.46 Median 1.00 Mode 1 Std. Deviation .558 Minimum 1 Maximum 3Do they think that Stem cell banking service should be promoted heavily in India to create awareness? Cumulative Frequency Percent Valid Percent Percent Valid Strongly 57 57.0 57.0 57.0 agree Agree 40 40.0 40.0 97.0 Neutral 3 3.0 3.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 80
  • 93. BY AVIROOP MARKETING THESIS BANIK Religious sentiments of the respondents towards SCBReligious sentiments of the respondents towards SCB N Valid 100 Missing 0 Mean 4.67 Median 5.00 Mode 5 Std. Deviation .473 Variance .223 Range 1Do they think that collecting, storing and preserving blood from umbilical cord at the time of delivery of babycan hurt their religious sentiments or beliefs? Cumulative Frequency Percent Valid Percent Percent Valid Disagree 33 33.0 33.0 33.0 Strongly 67 67.0 67.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 81
  • 94. BY AVIROOP MARKETING THESIS BANIK Respondent’s preference to store their babys stem cellRespondent’s preference to store their babys stem cell N Valid 100 Missing 0 Mean 1.34 Median 1.00 Mode 1 Std. Deviation .476 Variance .227 Range 1Would they like to store their baby’s Stem cells, if they come to know that stem cells can cure almost all lifethreatening diseases, if their baby manifest in his/her future? Cumulative Frequency Percent Valid Percent Percent Valid Strongly 66 66.0 66.0 66.0 agree Agree 34 34.0 34.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 82
  • 95. BY AVIROOP MARKETING THESIS BANIK Relative advantage (life time opportunity) of SCBRelative advantage (life time opportunity) of SCB N Valid 100 Missing 0 Mean 1.61 Median 2.00 Mode 2 Std. Deviation .650 Variance .422 Range 3Preserving baby’s umbilical cord stem cells is once in a lifetime opportunity for consumers to secure theirchild’s future. - (Relative advantage) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 46 46.0 46.0 46.0 agree Agree 49 49.0 49.0 95.0 Neutral 3 3.0 3.0 98.0 Disagree 2 2.0 2.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 83
  • 96. BY AVIROOP MARKETING THESIS BANIK Relative advantage (price-quality relationship) of SCBRelative advantage (price-quality relationship) of SCB N Valid 100 Missing 0 Mean 3.64 Median 4.00 Mode 4 Std. Deviation 1.124 Variance 1.263 Range 3The enrollment price-quality relationship is acceptable in Umbilical stem cell banking, to store baby’s cordblood for longer period of time. (Relative advantage) Cumulative Frequency Percent Valid Percent Percent Valid Agree 29 29.0 29.0 29.0 Disagree 49 49.0 49.0 78.0 Strongly 22 22.0 22.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 84
  • 97. BY AVIROOP MARKETING THESIS BANIK Relative advantage (low treatment cost in the future) of SCBRelative advantage (low treatment cost in the future) of SCB N Valid 100 Missing 0 Mean 2.08 Median 2.00 Mode 2 Std. Deviation .662 Variance .438 Range 2Storing baby’s Umbilical stem cell would incur them low treatment cost to treat diseases in future. (Relativeadvantage) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 18 18.0 18.0 18.0 agree Agree 56 56.0 56.0 74.0 Neutral 26 26.0 26.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 85
  • 98. BY AVIROOP MARKETING THESIS BANIK Relative advantage (no side effects) of SCBThis indicates the relative advantage (no side effects) of SCB N Valid 100 Missing 0 Mean 1.70 Median 2.00 Mode 2 Std. Deviation .577 Variance .333 Range 2 Cumulative Frequency Percent Valid Percent Percent Valid Strongly 36 36.0 36.0 36.0 agree Agree 58 58.0 58.0 94.0 Neutral 6 6.0 6.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 86
  • 99. BY AVIROOP MARKETING THESIS BANIK Relative advantage (procuring stem cells is easy and hygienic during delivery) of SCBRelative advantage (procuring stem cells is easy and hygienic during delivery) of SCB N Valid 100 Missing 0 Mean 1.30 Median 1.00 Mode 1 Std. Deviation .461 Variance .212 Range 1 Cumulative Frequency Percent Valid Percent Percent Valid Strongly 70 70.0 70.0 70.0 agree Agree 30 30.0 30.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 87
  • 100. BY AVIROOP MARKETING THESIS BANIK Relative advantage of private stem cell banks on public stem cell banksRelative advantage of private bank on public banks N Valid 100 Missing 0 Mean 1.24 Median 1.00 Mode 1 Std. Deviation .429 Variance .184 Range 1Storing baby’s stem cells in private banks is better than storing it in Public banks. (Relative advantage) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 76 76.0 76.0 76.0 agree Agree 24 24.0 24.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 88
  • 101. BY AVIROOP MARKETING THESIS BANIK Compatibility (fits with the lifestyle) of SCBCompatibility (fits with the lifestyle) of SCB N Valid 100 Missing 0 Mean 1.98 Median 2.00 Mode 1 Std. Deviation 1.172 Variance 1.373 Range 3Umbilical Stem cell banking for their child fits with their lifestyle. (Compatibility) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 47 47.0 47.0 47.0 agree Agree 30 30.0 30.0 77.0 Neutral 1 1.0 1.0 78.0 Disagree 22 22.0 22.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 89
  • 102. BY AVIROOP MARKETING THESIS BANIK Complexity (a complex procedure to understand) of SCBComplexity (a complex procedure to understand) of SCB N Valid 100 Missing 0 Mean 3.35 Median 4.00 Mode 4 Std. Deviation 1.395 Variance 1.947 Range 4Understanding the concept of Stem cell banking and enrolling/registering for storing baby’s cordblood is a complex procedure. (Complexity) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 18 18.0 18.0 18.0 agree Agree 14 14.0 14.0 32.0 Disagree 51 51.0 51.0 83.0 Strongly 17 17.0 17.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 90
  • 103. BY AVIROOP MARKETING THESIS BANIK Perceived risk (tech is not mature enough) of SCBPerceived risk (tech is not mature enough) of SCB N Valid 100 Missing 0 Mean 2.44 Median 2.00 Mode 2 Std. Deviation 1.282 Variance 1.643 Range 4Consumers are worrying about cord blood banking technology is not mature enough. (PerceivedRisks) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 23 23.0 23.0 23.0 agree Agree 47 47.0 47.0 70.0 Neutral 2 2.0 2.0 72.0 Disagree 19 19.0 19.0 91.0 Strongly 9 9.0 9.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 91
  • 104. BY AVIROOP MARKETING THESIS BANIK Perceived risk (loss of money if stem cell is not used in lifetime) of SCBPerceived risk (loss of money if stem cell is not used in lifetime) of SCB N Valid 100 Missing 0 Mean 3.42 Median 4.00 Mode 4(a) Std. Deviation 1.532 Variance 2.347 Range 4a Multiple modes exist. The smallest value is shownConsumers fear of losing money if Umbilical stem cells never used in their baby’s lifetime. (Perceived Risks) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 18 18.0 18.0 18.0 agree Agree 18 18.0 18.0 36.0 Disagree 32 32.0 32.0 68.0 Strongly 32 32.0 32.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 92
  • 105. BY AVIROOP MARKETING THESIS BANIK Perceived risk (natural disaster and tech failure in lab) of SCBPerceived risk (natural disaster and tech failure in lab) of SCB N Valid 100 Missing 0 Mean 1.71 Median 2.00 Mode 2 Std. Deviation .832 Variance .693 Range 3Consumers fear of losing their baby’s stored Umbilical stem cells due to natural disaster or technologicalfailure in the laboratory. (Perceived Risks) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 45 45.0 45.0 45.0 agree Agree 47 47.0 47.0 92.0 Disagree 8 8.0 8.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 93
  • 106. BY AVIROOP MARKETING THESIS BANIK Expectation of better service (Genetic testing of baby along with storing stem cell) of SCBExpectation of better service (Genetic testing of baby along with storing stem cell) of SCB N Valid 100 Missing 0 Mean 2.11 Median 2.00 Mode 2 Std. Deviation 1.109 Variance 1.230 Range 4 Along with storing their baby’s stem cells, they would also prefer complete genetic testing for their babies, toidentify any genetic diseases which may manifest in the future. (Expectations for better service) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 35 35.0 35.0 35.0 agree Agree 39 39.0 39.0 74.0 Neutral 7 7.0 7.0 81.0 Disagree 18 18.0 18.0 99.0 Strongly 1 1.0 1.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 94
  • 107. BY AVIROOP MARKETING THESIS BANIK Expectation of better service (tech should be made easy to understand for people)Expectation of better service (tech should be made easy to understand for people) N Valid 100 Missing 0 Mean 1.40 Median 1.00 Mode 1 Std. Deviation .492 Variance .242 Range 1They expect stem cell banking services should be made much easier to understand for every people.(Expectations for better service) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 60 60.0 60.0 60.0 agree Agree 40 40.0 40.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 95
  • 108. BY AVIROOP MARKETING THESIS BANIK Motivation (to use SCB in near future) among respondentsMotivation (to use SCB in near future) among respondents N Valid 100 Missing 0 Mean 2.22 Median 2.00 Mode 1 Std. Deviation 1.227 Variance 1.507 Range 4Consumers have intentions to use umbilical stem cell banking service in the near future. (Motivation) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 36 36.0 36.0 36.0 agree Agree 34 34.0 34.0 70.0 Neutral 4 4.0 4.0 74.0 Disagree 24 24.0 24.0 98.0 Strongly 2 2.0 2.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 96
  • 109. BY AVIROOP MARKETING THESIS BANIK Self efficacy (to use the stem cell banking tech) among respondentsSelf efficacy (to use the tech) among respondents N Valid 100 Missing 0 Mean 1.96 Median 2.00 Mode 1 Std. Deviation 1.222 Variance 1.493 Range 4They are confident of understanding and using umbilical stem cell banking service. (Self-Efficacy) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 47 47.0 47.0 47.0 agree Agree 34 34.0 34.0 81.0 Disagree 14 14.0 14.0 95.0 Strongly 5 5.0 5.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 97
  • 110. BY AVIROOP MARKETING THESIS BANIK Attitude towards existing healthcare services/operation etc among respondentsAttitude towards existing healthcare services among respondents N Valid 100 Missing 0 Mean 1.62 Median 2.00 Mode 2 Std. Deviation .488 Variance .238 Range 1They prefer to treat their child with existing medication or operation, if he/she manifests a disease in thefuture. (Attitude towards existing healthcare services) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 38 38.0 38.0 38.0 agree Agree 62 62.0 62.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 98
  • 111. BY AVIROOP MARKETING THESIS BANIK Postponement to adopt SCB among respondentsPostponement to adopt SCB among respondents N Valid 100 Missing 0 Mean 2.26 Median 2.00 Mode 2 Std. Deviation 1.116 Variance 1.245 Range 3Consumer shall go with Umbilical stem cell banking if their doctor suggests them to do so. (Postponement) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 29 29.0 29.0 29.0 agree Agree 39 39.0 39.0 68.0 Neutral 9 9.0 9.0 77.0 Disagree 23 23.0 23.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 99
  • 112. BY AVIROOP MARKETING THESIS BANIK Postponement to adopt SCB among respondentsPostponement to adopt SCB among respondents N Valid 100 Missing 0 Mean 3.18 Median 4.00 Mode 4 Std. Deviation 1.282 Variance 1.644 Range 4Consumer shall go with Umbilical stem cell banking when there will be high awareness of this service in TV,Radio, Print etc.(Postponement) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 15 15.0 15.0 15.0 agree Agree 22 22.0 22.0 37.0 Disagree 56 56.0 56.0 93.0 Strongly 7 7.0 7.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 100
  • 113. BY AVIROOP MARKETING THESIS BANIK Postponement to adopt SCB among respondentsPostponement to adopt SCB among respondents N Valid 100 Missing 0 Mean 2.31 Median 2.00 Mode 1 Std. Deviation 1.308 Variance 1.711 Range 3They can avail this service if there is reduction in enrolling fee. (Postponement) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 39 39.0 39.0 39.0 agree Agree 26 26.0 26.0 65.0 Disagree 35 35.0 35.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 101
  • 114. BY AVIROOP MARKETING THESIS BANIK Postponement to adopt SCB among respondentsPostponement to adopt SCB among respondents N Valid 100 Missing 0 Mean 1.76 Median 2.00 Mode 1 Std. Deviation .922 Variance .851 Range 3They can avail this service if they hear about more success stories of stem cells. (Postponement) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 46 46.0 46.0 46.0 agree Agree 43 43.0 43.0 89.0 Disagree 11 11.0 11.0 100.0 Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 102
  • 115. BY AVIROOP MARKETING THESIS BANIK Opposition to adopt SCB (saying it as wastage of money) among respondentsOpposition to adopt SCB (saying it as wastage of money) among respondents N Valid 100 Missing 0 Mean 3.58 Median 4.00 Mode 5 Std. Deviation 1.451 Variance 2.105 Range 4Storing their baby’s stem cells maybe wastage of money for consumers. (Opposition) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 11 11.0 11.0 11.0 agree Agree 22 22.0 22.0 33.0 Neutral 2 2.0 2.0 35.0 Disagree 28 28.0 28.0 63.0 Strongly 37 37.0 37.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 103
  • 116. BY AVIROOP MARKETING THESIS BANIK Rejection to adopt SCB among respondentsRejection to adopt SCB among respondents N Valid 100 Missing 0 Mean 3.96 Median 4.50 Mode 5 Std. Deviation 1.355 Variance 1.837 Range 4It is unlikely that they will store their baby’s cord blood with a stem cell banking company in the nearfuture.(Rejection) Cumulative Frequency Percent Valid Percent Percent Valid Strongly 9 9.0 9.0 9.0 agree Agree 12 12.0 12.0 21.0 Neutral 3 3.0 3.0 24.0 Disagree 26 26.0 26.0 50.0 Strongly 50 50.0 50.0 100.0 disagree Total 100 100.0 100.0 Strongly agree=1 Agree=2 Neutral=3 Disagree=4 Strongly disagree=5 104
  • 117. BY AVIROOP MARKETING THESIS BANIK 10 CROSS TABULATION 105
  • 118. BY AVIROOP MARKETING THESIS BANIK 10.1 Education * Rejection to adopt SCB among respondents - Cross tabulation Rejection to adopt SCB among respondents Total Strongly Strongly agree Agree Neutral Disagree disagreeEducation High Count 7 6 0 0 0 13 school % within Rejection to adopt SCB 77.8% 50.0% .0% .0% .0% 13.0% among respondents Bachelor Count 1 6 2 10 7 26 degree % within Rejection to adopt SCB 11.1% 50.0% 66.7% 38.5% 14.0% 26.0% among respondents Masters Count 1 0 1 14 41 57 degree % within Rejection to adopt SCB 11.1% .0% 33.3% 53.8% 82.0% 57.0% among respondents Doctoral Count 0 0 0 2 2 4 % within Rejection to adopt SCB .0% .0% .0% 7.7% 4.0% 4.0% among respondentsTotal Count 9 12 3 26 50 100 % within Rejection to adopt SCB 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% among respondents 106
  • 119. BY AVIROOP MARKETING THESIS BANIK Interpretation • 76% respondents are willing to go for stem cell banking for their babies in the near future. • Out of 76%, majority of the willingness is shown by people with masters education. • 21% of respondents are not willing to use stem cell banking service in the near future and in that majority of respondents hold high school degree. Conclusion Stem cell banking in India is a knowledge based service which is currently majorly accepted by educated people. But opportunities need to be tapped by companies to convince the people with low or zero education background. 107
  • 120. BY AVIROOP MARKETING THESIS BANIK 10.2 Annual income * Rejection to adopt SCB among respondents - Cross tabulation Rejection to adopt SCB among respondents Total Strongly Strongly agree Agree Neutral Disagree disagreeAnnual 0-3 Count 8 10 2 11 19 50income lacs/annum % within Rejection to adopt SCB 88.9% 83.3% 66.7% 42.3% 38.0% 50.0% among respondents 3-6 Count 1 2 1 9 23 36 lacs/annum % within Rejection to adopt SCB 11.1% 16.7% 33.3% 34.6% 46.0% 36.0% among respondents 6-9 Count 0 0 0 6 6 12 lacs/annum % within Rejection to adopt SCB .0% .0% .0% 23.1% 12.0% 12.0% among respondents 9-12 Count 0 0 0 0 2 2 lacs/annum % within Rejection to adopt SCB .0% .0% .0% .0% 4.0% 2.0% among respondentsTotal Count 9 12 3 26 50 100 % within Rejection to adopt SCB 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% among respondents 108
  • 121. BY AVIROOP MARKETING THESIS BANIK Interpretation • 76% respondents are willing to go for stem cell banking for their babies in the near future. • Majority of respondents who accepts this service have income in the range of INR 6-9 lacs/annum. And few in salary range of 0-3 lacs/annum shows acceptance. • I’ve got few people who are earning between INR 6-12 lacs/annum and all of them have accepted stem cell banking service. • Respondents with low salary have rejected this service due to high enrolling fee. Conclusion • Currently financially strong people are mostly interested in stem cell banking service holding good educational background. • But marketers should expand their target base with strong strategy to pitch this new concept to the other facets of consumer sections. 109
  • 122. BY AVIROOP MARKETING THESIS BANIK 10.3 Annual income * Opposition to adopt stem cell banking (thinking it’s a wastage of money) >> Cross tabulation Opposition to adopt SCB(thinking it’s a wastage of money) Total Strongly Strongly agree Agree Neutral Disagree disagreeAnnual 0-3 Count 9 20 2 10 9 50income lacs/annum % within Opposition to adopt 81.8% 90.9% 100.0% 35.7% 24.3% 50.0% SCB(wastage of money) 3-6 Count 2 2 0 12 20 36 lacs/annum % within Opposition to adopt 18.2% 9.1% .0% 42.9% 54.1% 36.0% SCB(wastage of money) 6-9 Count 0 0 0 4 8 12 lacs/annum % within Opposition to adopt .0% .0% .0% 14.3% 21.6% 12.0% SCB(wastage of money) 9-12 Count 0 0 0 2 0 2 lacs/annum % within Opposition to adopt .0% .0% .0% 7.1% .0% 2.0% SCB(wastage of money)Total Count 11 22 2 28 37 100 % within Opposition to adopt 100.0% 100.0% 100.0% 100.0% 100.0% 100.0% SCB(wastage of money) 110
  • 123. BY AVIROOP MARKETING THESIS BANIK Interpretation • 65% of respondents have said they would not oppose stem cell banking service (and in this most of them are earning between INR 3-9 lacs/annum). • 90% of the opposition to adopt this service comes from people who earn money between INR 0-3 lacs/annum. Conclusion • People with low annual income are more likely to oppose this service. • Currently companies are only focusing on financially robust clients but they should come up with new business model to take lower sections in the loop. 111
  • 124. BY AVIROOP MARKETING THESIS BANIK 11 FACTORS INTER-RELATIONSHIP(CORRELATION >> USING SPSS) 112
  • 125. BY AVIROOP MARKETING THESIS BANIK 11.1 POSITIVE CORRELATION BETWEEN THE FACTORS 113
  • 126. BY AVIROOP MARKETING THESIS BANIK Correlation between complexity (a complex procedure to understand) and perceived risk Descriptive Statistics Std. Mean Deviation N Complexity (a complex procedure to 3.35 1.395 100 understand) Perceived risk (tech is 2.44 1.282 100 not mature enough) Perceived risk (loss of money if stem cell is 3.42 1.532 100 not used in lifetime) Perceived risk (natural disaster and tech 1.71 .832 100 failure in lab)Correlations Perceived risk (loss Complexity Perceived of money Perceived (a complex risk (tech if stem risk (natural procedure is not cell is not disaster and to mature used in tech failure understand) enough) lifetime) in lab) Complexity (a Pearson Correlation 1 .387(**) .757(**) .271(**) complex procedure Sig. (2-tailed) . .000 .000 .006 to understand) N 100 100 100 100 Perceived risk (tech Pearson Correlation .387(**) 1 .296(**) .263(**) is not mature Sig. (2-tailed) .000 . .003 .008 enough) N 100 100 100 100 Perceived risk (loss Pearson Correlation .757(**) .296(**) 1 .271(**) of money if stem Sig. (2-tailed) .000 .003 . .006 cell is not used in N 100 100 100 100 lifetime) Perceived risk Pearson Correlation .271(**) .263(**) .271(**) 1 (natural disaster and Sig. (2-tailed) .006 .008 .006 . tech failure in lab) N 100 100 100 100** Correlation is significant at the 0.01 level (2-tailed). 114
  • 127. BY AVIROOP MARKETING THESIS BANIK Interpretation -Complexity and perceived risks are positively correlated- • Respondents who find stem cell banking service quite complex to understand, they also think that this new technology is not mature enough to adopt now. • Respondents who find stem cell banking service quite complex to understand, they also find it financially risky, if the stem cell is not used in baby’s lifetime. The strength of this correlation is the maximum. • Respondents who find stem cell banking service quite complex to understand, they’ve shown fear of natural disaster and tech failure in lab. 115
  • 128. BY AVIROOP MARKETING THESIS BANIKCorrelation between Compatibility (fits with the lifestyle) and Expectation of better service Std. Mean Deviation N Compatibility (fits with the 1.98 1.172 100 lifestyle) Expectation of better service (Genetic testing of baby 2.11 1.109 100 along with storing stem cell) Expectation of better service (tech should be made easy to 1.40 .492 100 understand for people) Expectation of better service (Genetic Expectation of testing of baby better service (tech Compatibility along with should be made (fits with the storing stem easy to understand lifestyle) cell) for people) Compatibility (fits Pearson Correlation 1 .367(**) -.214(*) with the lifestyle) Sig. (2-tailed) . .000 .033 N 100 100 100 Expectation of better Pearson Correlation service (Genetic testing of baby along .367(**) 1 -.081 with storing stem cell) Sig. (2-tailed) .000 . .421 N 100 100 100 Expectation of better Pearson Correlation service (tech should be made easy to -.214(*) -.081 1 understand for people) Sig. (2-tailed) .033 .421 . N 100 100 100** Correlation is significant at the 0.01 level (2-tailed), * Correlation is significant at the 0.05 level (2-tailed). 116
  • 129. BY AVIROOP MARKETING THESIS BANIK Interpretation -Compatibility and Expectation of better service (positive and negative correlation)- • Respondents who find stem cell banking service compatible with his/her lifestyle, they expect stem cell banking companies (private) to extend the service portfolio with the inclusion of genetic testing for their babies along with just storing stem cells. • Respondents who find stem cell banking service compatible with his/her lifestyle, they don’t find the tech much difficult to understand and they are one of the potential customer of this service. Marketers should device new strategies to develop the level of compatibility in consumers. 117
  • 130. BY AVIROOP MARKETING THESIS BANIK Correlation between Compatibility (fits with the lifestyle) and Motivation (to use SCB in near future) Descriptive Statistics Std. Mean Deviation N Compatibility (fits 1.98 1.172 100 with the lifestyle) Motivation (to use 2.22 1.227 100 SCB in near future) Compatibility Motivation (to (fits with the use SCB in lifestyle) near future) Compatibility Pearson (fits with the Correlation 1 .677(**) lifestyle) Sig. (2-tailed) . .000 N 100 100 Motivation (to Pearson use SCB in near Correlation .677(**) 1 future) Sig. (2-tailed) .000 . N 100 100** Correlation is significant at the 0.01 level (2-tailed). 118
  • 131. BY AVIROOP MARKETING THESIS BANIK Interpretation -Compatibility and Motivation (to use SCB in near future) are positively correlated- • Respondents, who find stem cell banking service compatible with his /her lifestyle, are very motivated to use stem cell banking in the near future. And also consumers who are very motivated, they see this tech highly compatible with their lifestyle. • Marketers should focus on increasing the motivation factor among consumers, which would eventually lead for the acceptance of new healthcare service in India. 119
  • 132. BY AVIROOP MARKETING THESIS BANIK Correlation between Relative advantage and Compatibility Relative Relative advantage Relative Relative Relative advantage(easy of private advantage advantage(price- advantage(low Relative and hygienic bank on Compatibility (life time quality treatment cost advantage(no during public (fits with the opportunity) relationship) in the future) side effects) delivery) banks lifestyle)Relative Pearson 1 .262(**) .191 .089 .226(*) .230(*) .282(**)advantage (life Correlationtime Sig. (2-opportunity) . .008 .057 .379 .024 .021 .005 tailed) N 100 100 100 100 100 100 100Relative Pearson .262(**) 1 -.219(*) -.230(*) .016 .139 .516(**)advantage(price- Correlationquality Sig. (2-relationship) .008 . .029 .021 .877 .168 .000 tailed) N 100 100 100 100 100 100 100Relative Pearson .191 -.219(*) 1 .169 .252(*) .110 .054advantage(low Correlationtreatment cost in Sig. (2-the future) .057 .029 . .092 .011 .278 .592 tailed) N 100 100 100 100 100 100 100Relative Pearson .089 -.230(*) .169 1 .152 .130 -.024advantage(no Correlationside effects) Sig. (2- .379 .021 .092 . .131 .196 .814 tailed) N 100 100 100 100 100 100 100Relative Pearson .226(*) .016 .252(*) .152 1 .143 .180advantage(easy Correlationand hygienic Sig. (2-during delivery) .024 .877 .011 .131 . .156 .074 tailed) N 100 100 100 100 100 100 100Relative Pearson .230(*) .139 .110 .130 .143 1 .271(**)advantage of Correlationprivate bank on Sig. (2-public banks .021 .168 .278 .196 .156 . .006 tailed) N 100 100 100 100 100 100 100Compatibility Pearson .282(**) .516(**) .054 -.024 .180 .271(**) 1(fits with the Correlationlifestyle) Sig. (2- .005 .000 .592 .814 .074 .006 . tailed) N 100 100 100 100 100 100 100 ** Correlation is significant at the 0.01 level (2-tailed), * Correlation is significant at the 0.05 level (2-tailed). 120
  • 133. BY AVIROOP MARKETING THESIS BANIK Interpretation - Relative advantage and Compatibility are positively correlated- • Respondents, who find stem cell banking service compatible with his /her lifestyle, they think that it’s a lifetime opportunity to store their baby’s stem cell with a stem cell banking company. • Respondents, who find stem cell banking service compatible with his /her lifestyle, are accepting the current enrolment price and quality. • Respondents, who find stem cell banking service compatible with his /her lifestyle, find private banks are far adventitious than the public banks. 121
  • 134. BY AVIROOP MARKETING THESIS BANIK Correlation between Compatibility and Self efficacy Std. Mean Deviation N Compatibility (fits with the 1.98 1.172 100 lifestyle) Self efficacy (to 1.96 1.222 100 use the tech) Self Compatibility efficacy (to (fits with the use the lifestyle) tech) Compatibility Pearson (fits with the Correlation 1 .444(**) lifestyle) Sig. (2-tailed) . .000 N 100 100 Self efficacy (to Pearson .444(**) 1 use the tech) Correlation Sig. (2-tailed) .000 . N 100 100** Correlation is significant at the 0.01 level (2-tailed). Interpretation -Compatibility and Self efficacy are positively correlated- • Respondents, who find stem cell banking service compatible with his /her lifestyle, they are very confident of understanding and using this technology i.e they are self efficient. 122
  • 135. BY AVIROOP MARKETING THESIS BANIK Correlation between Motivation and Relative advantage Relativ e Relative Relative Relative advanta Motivati advantag advantage(l advantage(e ge of on (to e (life Relative ow Relative asy and private use SCB time advantage(pr treatment advantage hygienic bank on in near opportuni ice-quality cost in the (no side during public future) ty) relationship) future) effects) delivery) banksMotivation Pearson .397(**(to use SCB Correlati 1 .476(**) .541(**) .177 -.034 .239(*) )in near onfuture) Sig. (2- . .000 .000 .078 .735 .016 .000 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage Correlati .476(**) 1 .262(**) .191 .089 .226(*) .230(*)(life time onopportunity) Sig. (2- .000 . .008 .057 .379 .024 .021 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(pr Correlati .541(**) .262(**) 1 -.219(*) -.230(*) .016 .139ice-quality onrelationship) Sig. (2- .000 .008 . .029 .021 .877 .168 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(lo Correlati .177 .191 -.219(*) 1 .169 .252(*) .110w treatment oncost in the Sig. (2- .078 .057 .029 . .092 .011 .278future) tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(no Correlati -.034 .089 -.230(*) .169 1 .152 .130side effects) on Sig. (2- .735 .379 .021 .092 . .131 .196 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(ea Correlati .239(*) .226(*) .016 .252(*) .152 1 .143sy and on 123
  • 136. BY AVIROOP MARKETING THESIS BANIKhygienic Sig. (2- .016 .024 .877 .011 .131 . .156during tailed)delivery) N 100 100 100 100 100 100 100Relative Pearsonadvantage of Correlati .397(**) .230(*) .139 .110 .130 .143 1private bank onon public Sig. (2- .000 .021 .168 .278 .196 .156 .banks tailed) N 100 100 100 100 100 100 100** Correlation is significant at the 0.01 level (2-tailed).* Correlation is significant at the 0.05 level (2-tailed). Interpretation -Motivation and Relative advantage are positively correlated- • Respondents, who find stem cell banking service is a lifetime opportunity to store their baby’s stem cells, they are motivated to use this service in the near future. • Respondents, who accept the current enrolment price, are tend to be motivated to use this service in the near future. • If respondents think that procuring stem cells during delivery is easy and hygienic, they are motivated to use this service in the near future. • Respondents who are motivated to use this service in the near future, they see private banks as better option rather than public banks. 124
  • 137. BY AVIROOP MARKETING THESIS BANIK Correlation between Motivation and Self efficacy Descriptive Statistics Std. Mean Deviation N Motivation (to use SCB in near 2.22 1.227 100 future) Self efficacy (to 1.96 1.222 100 use the tech) Motivation Self (to use SCB efficacy (to in near use the future) tech) Motivation (to Pearson 1 .740(**) use SCB in near Correlation future) Sig. (2-tailed) . .000 N 100 100 Self efficacy (to Pearson .740(**) 1 use the tech) Correlation Sig. (2-tailed) .000 . N 100 100** Correlation is significant at the 0.01 level (2-tailed). Interpretation - Motivation and Self efficacy are positively correlated- • Respondents, who are very confident of understanding and using stem cell banking service, they are highly motivated to use this service in the near future. • Marketers should enhance the self-efficiency of stem cell banking among consumers, which would eventually enhance their motivation to adopt the new technological innovation. 125
  • 138. BY AVIROOP MARKETING THESIS BANIK Correlation between Self efficacy and Relative advantage Relative Relative advantag Self Relative Relative advantage(ea e of efficac advantage Relative advantage(lo Relative sy and private y (to (life time advantage(pric w treatment advantage(n hygenic bank on use the opportunit e-quality cost in the o side during public tech) y) relationship) future) effects) delivery) banksSelf efficacy Pearson(to use the Correlatio 1 .489(**) .453(**) .216(*) -.060 .363(**) .461(**)tech) n Sig. (2- . .000 .000 .031 .552 .000 .000 tailed) N 100 100 100 100 100 100 100Relative Pearson .489(**advantage (life Correlatio 1 .262(**) .191 .089 .226(*) .230(*) )time nopportunity) Sig. (2- .000 . .008 .057 .379 .024 .021 tailed) N 100 100 100 100 100 100 100Relative Pearson .453(**advantage(pric Correlatio .262(**) 1 -.219(*) -.230(*) .016 .139 )e-quality nrelationship) Sig. (2- .000 .008 . .029 .021 .877 .168 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(low Correlatio .216(*) .191 -.219(*) 1 .169 .252(*) .110treatment cost nin the future) Sig. (2- .031 .057 .029 . .092 .011 .278 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(no Correlatio -.060 .089 -.230(*) .169 1 .152 .130side effects) n Sig. (2- .552 .379 .021 .092 . .131 .196 tailed) N 100 100 100 100 100 100 100Relative Pearson .363(**advantage(eas Correlatio .226(*) .016 .252(*) .152 1 .143 )y and hygenic nduring Sig. (2-delivery) .000 .024 .877 .011 .131 . .156 tailed) N 100 100 100 100 100 100 100Relative Pearson .461(** .230(*) .139 .110 .130 .143 1advantage of Correlatio ) 126
  • 139. BY AVIROOP MARKETING THESIS BANIKprivate bank non public Sig. (2-banks .000 .021 .168 .278 .196 .156 . tailed) N 100 100 100 100 100 100 100** Correlation is significant at the 0.01 level (2-tailed).* Correlation is significant at the 0.05 level (2-tailed). Interpretation - Self efficacy and Relative advantage are positively correlated- • Respondents, who find stem cell banking service is a lifetime opportunity to store their baby’s stem cells, they are confident of understanding and using this stem cell banking service. • Respondents, who accept the current enrolment price, are confident of understanding and using this stem cell banking service. • Respondents, who find stem cells would incur low treatment cost for their babies in the future, are confident of understanding and using this stem cell banking service. • If respondents think that procuring stem cells during delivery is easy and hygienic, are confident of understanding and using this stem cell banking service. • Respondents, who see private stem cell banks as a better option, are confident of understanding and using this stem cell banking service. 127
  • 140. BY AVIROOP MARKETING THESIS BANIK Correlation between Motivation and Expectation of better service Descriptive Statistics Std. Mean Deviation N Motivation (to use 2.22 1.227 100 SCB in near future) Expectation of better service (Genetic testing of baby 2.11 1.109 100 along with storing stem cell) Expectation of better service (tech should be made easy to 1.40 .492 100 understand for people) Expectation of better Expectation service of better (Genetic service (tech Motivation testing of should be (to use SCB baby along made easy to in near with storing understand future) stem cell) for people) Motivation (to use Pearson Correlation 1 .679(**) -.181 SCB in near future) Sig. (2-tailed) . .000 .072 N 100 100 100 Expectation of better Pearson Correlation .679(**) 1 -.081 service (Genetic Sig. (2-tailed) .000 . .421 testing of baby along with storing stem N 100 100 100 cell) Expectation of better Pearson Correlation -.181 -.081 1 service (tech should Sig. (2-tailed) .072 .421 . be made easy to N understand for 100 100 100 people)** Correlation is significant at the 0.01 level (2-tailed). 128
  • 141. BY AVIROOP MARKETING THESIS BANIK Interpretation - Motivation and Expectation of better service are positively correlated- • Respondents, who are highly motivated to use this service in the near future, are interested in some add on services like genetic testing for babies along with storing stem cells. • Marketers should focus on enhancing the current services to woo the consumers. 129
  • 142. BY AVIROOP MARKETING THESIS BANIK Correlation between Relative advantage and Expectation of better service Expectati Expectati on of on of better better service service (tech Relative (Genetic should be Relative advanta testing of made easy Relative Relative advantage(ea ge of baby to advantage Relative advantage(lo Relative sy and private along with understan (life time advantage(pric w treatment advantage( hygienic bank on storing d for opportunit e-quality cost in the no side during public stem cell) people) y) relationship) future) effects) delivery) banksExpectation of Pearsonbetter service Correlati 1 -.081 .397(**) .405(**) .084 -.153 .192 .347(**)(Genetic ontesting of baby Sig. (2-along with . .421 .000 .000 .405 .129 .056 .000 tailed)storing stem Ncell) 100 100 100 100 100 100 100 100Expectation of Pearsonbetter service Correlati -.081 1 -.044 -.157 .025 -.071 .089 -.029(tech should onbe made easy Sig. (2-to understand tailed) .421 . .662 .119 .807 .482 .378 .777for people) N 100 100 100 100 100 100 100 100Relative Pearsonadvantage (life Correlati .397(**) -.044 1 .262(**) .191 .089 .226(*) .230(*)time onopportunity) Sig. (2- .000 .662 . .008 .057 .379 .024 .021 tailed) N 100 100 100 100 100 100 100 100Relative Pearsonadvantage(pric Correlati .405(**) -.157 .262(**) 1 -.219(*) -.230(*) .016 .139e-quality onrelationship) Sig. (2- .000 .119 .008 . .029 .021 .877 .168 tailed) N 100 100 100 100 100 100 100 100Relative Pearsonadvantage(low Correlati .084 .025 .191 -.219(*) 1 .169 .252(*) .110treatment cost onin the future) Sig. (2- .405 .807 .057 .029 . .092 .011 .278 tailed) N 100 100 100 100 100 100 100 100Relative Pearsonadvantage(no Correlati -.153 -.071 .089 -.230(*) .169 1 .152 .130side effects) on Sig. (2- .129 .482 .379 .021 .092 . .131 .196 tailed) N 100 100 100 100 100 100 100 100 130
  • 143. BY AVIROOP MARKETING THESIS BANIKRelative Pearsonadvantage(eas Correlati .192 .089 .226(*) .016 .252(*) .152 1 .143y and hygenic onduring Sig. (2-delivery) .056 .378 .024 .877 .011 .131 . .156 tailed) N 100 100 100 100 100 100 100 100Relative Pearsonadvantage of Correlati .347(**) -.029 .230(*) .139 .110 .130 .143 1private bank onon public Sig. (2-banks .000 .777 .021 .168 .278 .196 .156 . tailed) N 100 100 100 100 100 100 100 100** Correlation is significant at the 0.01 level (2-tailed).* Correlation is significant at the 0.05 level (2-tailed). Interpretation - Relative advantage and Expectation of better service are positively correlated- • Respondents, who find SCB is a lifetime opportunity for their babies, are interested in some add on services like genetic testing for babies along with storing stem cells. • Respondents who accept the current price-quality relationship in SCB, are interested in some add on services like genetic testing for babies along with storing stem cells. • Respondents who are interested in some new service addition along with storing stem cells, they expect the same from private stem cell banking companies. So, it’s a good opportunity for private banks. 131
  • 144. BY AVIROOP MARKETING THESIS BANIK Correlation between Self efficacy and Expectation of better service Std. Mean Deviation N Expectation of better service (Genetic testing 2.11 1.109 100 of baby along with storing stem cell) Expectation of better service (tech should be 1.40 .492 100 made easy to understand for people) Self efficacy (to use the 1.96 1.222 100 tech) Expectation of better Expectation service of better (Genetic service (tech testing of should be Self baby along made easy to efficacy (to with storing understand use the stem cell) for people) tech) Expectation of Pearson 1 -.081 .622(**) better service Correlation (Genetic testing of Sig. (2-tailed) . .421 .000 baby along with N 100 100 100 storing stem cell) Expectation of Pearson -.081 1 -.141 better service (tech Correlation should be made Sig. (2-tailed) .421 . .162 easy to understand for people) N 100 100 100 Self efficacy (to Pearson .622(**) -.141 1 use the tech) Correlation Sig. (2-tailed) .000 .162 . N 100 100 100** Correlation is significant at the 0.01 level (2-tailed). 132
  • 145. BY AVIROOP MARKETING THESIS BANIK Interpretation - Self efficacy and Expectation of better service are positively correlated- • Respondents, who are confident of understanding and using the SCB service, are interested in add on services like genetic testing for babies along with storing stem cells. 133
  • 146. BY AVIROOP MARKETING THESIS BANIK 11.2 NEGATIVE CORRELATION BETWEEN THE FACTORS 134
  • 147. BY AVIROOP MARKETING THESIS BANIK Correlation between Complexity and Compatibility Descriptive Statistics Std. Mean Deviation N Complexity (a complex procedure to 3.35 1.395 100 understand) Compatibility (fits 1.98 1.172 100 with the lifestyle) Complexity (a complex procedure Compatibility to (fits with the understand) lifestyle) Complexity (a Pearson Correlation complex procedure 1 -.595(**) to understand) Sig. (2-tailed) . .000 N 100 100 Compatibility (fits Pearson Correlation -.595(**) 1 with the lifestyle) Sig. (2-tailed) .000 . N 100 100** Correlation is significant at the 0.01 level (2-tailed). Interpretation - Complexity and Compatibility are negatively correlated- • Respondents, who find stem cell banking is a complex service to understand and use, think it is not compatible with his/her lifestyle. So, with the increase in complexity, compatibility decreases. 135
  • 148. BY AVIROOP MARKETING THESIS BANIK Correlation between Complexity and Expectation of better service Descriptive Statistics Mean Std. Deviation N Complexity (a complex 3.35 1.395 100 procedure to understand) Expectation of better service (Genetic testing 2.11 1.109 100 of baby along with storing stem cell) Expectation of better service (tech should be 1.40 .492 100 made easy to understand for people) Expectation of better Expectation service of better (Genetic service (tech Complexity testing of should be (a complex baby along made easy to procedure to with storing understand understand) stem cell) for people) Complexity (a Pearson Correlation 1 -.671(**) .132 complex procedure to Sig. (2-tailed) . .000 .189 understand) N 100 100 100 Expectation of better Pearson Correlation -.671(**) 1 -.081 service (Genetic Sig. (2-tailed) .000 . .421 testing of baby along with storing stem cell) N 100 100 100 Expectation of better Pearson Correlation .132 -.081 1 service (tech should Sig. (2-tailed) .189 .421 . be made easy to N understand for people) 100 100 100** Correlation is significant at the 0.01 level (2-tailed) Interpretation - Complexity and Expectation of better service are negatively correlated- • Respondents, who find stem cell banking is a complex service to understand and use, they don’t want added services like genetic testing for their babies. They may think that the added service would also be a complex one. 136
  • 149. BY AVIROOP MARKETING THESIS BANIK Correlation between Complexity and Motivation Descriptive Statistics Std. Mean Deviation N Complexity (a complex procedure to 3.35 1.395 100 understand) Motivation (to use 2.22 1.227 100 SCB in near future) Complexity (a complex Motivation procedure (to use SCB to in near understand) future) Complexity (a Pearson Correlation 1 -.606(**) complex procedure Sig. (2-tailed) . .000 to understand) N 100 100 Motivation (to use Pearson Correlation -.606(**) 1 SCB in near future) Sig. (2-tailed) .000 . N 100 100** Correlation is significant at the 0.01 level (2-tailed). Interpretation - Complexity and Motivation are negatively correlated- • Respondents, who find stem cell banking is a complex service to understand and use, they will eventually lose the motivation to use this service in near future. 137
  • 150. BY AVIROOP MARKETING THESIS BANIK Correlation between Complexity and Relative advantage Complexi Relative ty (a Relative advanta complex Relative Relative advantage(ea ge of procedure advantage Relative advantage(lo Relative sy and private to (life time advantage(pric w treatment advantage( hygienic bank on understan opportunit e-quality cost in the no side during public d) y) relationship) future) effects) delivery) banksComplexity (a Pearsoncomplex Correlati 1 -.338(**) -.576(**) -.009 .232(*) -.165 -.226(*)procedure to onunderstand) Sig. (2- . .001 .000 .931 .020 .101 .024 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage Correlati -.338(**) 1 .262(**) .191 .089 .226(*) .230(*)(life time onopportunity) Sig. (2- .001 . .008 .057 .379 .024 .021 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(pric Correlati -.576(**) .262(**) 1 -.219(*) -.230(*) .016 .139e-quality onrelationship) Sig. (2- .000 .008 . .029 .021 .877 .168 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(low Correlati -.009 .191 -.219(*) 1 .169 .252(*) .110treatment cost onin the future) Sig. (2- .931 .057 .029 . .092 .011 .278 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(no Correlati .232(*) .089 -.230(*) .169 1 .152 .130side effects) on Sig. (2- .020 .379 .021 .092 . .131 .196 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage(eas Correlati -.165 .226(*) .016 .252(*) .152 1 .143y and hygienic onduring Sig. (2-delivery) .101 .024 .877 .011 .131 . .156 tailed) N 100 100 100 100 100 100 100Relative Pearsonadvantage of Correlati -.226(*) .230(*) .139 .110 .130 .143 1private bank on 138
  • 151. BY AVIROOP MARKETING THESIS BANIKon public Sig. (2- .024 .021 .168 .278 .196 .156 .banks tailed) N 100 100 100 100 100 100 100** Correlation is significant at the 0.01 level (2-tailed).* Correlation is significant at the 0.05 level (2-tailed). Interpretation - Complexity and Relative advantage are negatively correlated- • Respondents, who find stem cell banking is a complex service to understand and use, they are not finding it as a lifetime opportunity. • Respondents, who find stem cell banking is a complex service to understand and use, would difficult to accept the current enrolment price. • With increase in complexity of stem cell banking service, consumer may not consider private banks better than public banks. • Marketers should make this healthcare technology less complex for lay people in India to expand the business further. 139
  • 152. BY AVIROOP MARKETING THESIS BANIK Correlation between Complexity and Self efficacyDescriptive Statistics Std. Mean Deviation N Complexity (a complex procedure to 3.35 1.395 100 understand) Self efficacy (to use 1.96 1.222 100 the tech) Complexity (a complex Self procedure efficacy (to to use the understand) tech) Complexity (a Pearson Correlation 1 -.566(**) complex procedure Sig. (2-tailed) . .000 to understand) N 100 100 Self efficacy (to use Pearson Correlation -.566(**) 1 the tech) Sig. (2-tailed) .000 . N 100 100** Correlation is significant at the 0.01 level (2-tailed). Interpretation - Complexity and Self efficacy are negatively correlated- • Respondents, who find stem cell banking is a complex service to understand and use, they will lose the confidence of understanding and using the service. 140
  • 153. BY AVIROOP MARKETING THESIS BANIK Correlation between Compatibility and Perceived riskDescriptive Statistics Std. Mean Deviation N Perceived risk (tech is 2.44 1.282 100 not mature enough) Perceived risk (loss of money if stem cell is 3.42 1.532 100 not used in lifetime) Perceived risk (natural disaster and tech failure 1.71 .832 100 in lab) Compatibility (fits with 1.98 1.172 100 the lifestyle) Perceived risk (loss Perceived Perceived of money risk (natural risk (tech is if stem cell disaster and Compatibility not mature is not used tech failure (fits with the enough) in lifetime) in lab) lifestyle) Perceived risk (tech Pearson Correlation is not mature 1 .296(**) .263(**) -.317(**) enough) Sig. (2-tailed) . .003 .008 .001 N 100 100 100 100 Perceived risk (loss Pearson Correlation of money if stem .296(**) 1 .271(**) -.687(**) cell is not used in lifetime) Sig. (2-tailed) .003 . .006 .000 N 100 100 100 100 Perceived risk Pearson Correlation (natural disaster and .263(**) .271(**) 1 -.161 tech failure in lab) Sig. (2-tailed) .008 .006 . .109 N 100 100 100 100 141
  • 154. BY AVIROOP MARKETING THESIS BANIK Compatibility (fits Pearson Correlation -.317(**) -.687(**) -.161 1 with the lifestyle) Sig. (2-tailed) .001 .000 .109 . N 100 100 100 100** Correlation is significant at the 0.01 level (2-tailed). Interpretation - Compatibility and Perceived risk are negatively correlated- • Respondents, who find stem cell banking technology is not mature enough, would find it difficult to fit it, in his/her lifestyle. • Respondents who perceive that stem cell banking would cause loss of money, if it’s not used in his/her baby’s lifetime; they are finding it incompatible to include it in their lifestyle. 142
  • 155. BY AVIROOP MARKETING THESIS BANIK Correlation between Motivation and Perceived riskDescriptive Statistics Std. Mean Deviation N Perceived risk (tech is not mature 2.44 1.282 100 enough) Perceived risk (loss of money if stem 3.42 1.532 100 cell is not used in lifetime) Perceived risk (natural disaster 1.71 .832 100 and tech failure in lab) Motivation (to use 2.22 1.227 100 SCB in near future) Perceived risk (loss Perceived of money Perceived risk (tech if stem risk (natural Motivation is not cell is not disaster and (to use SCB mature used in tech failure in near enough) lifetime) in lab) future) Perceived risk Pearson 1 .296(**) .263(**) -.313(**) (tech is not mature Correlation enough) Sig. (2-tailed) . .003 .008 .002 N 100 100 100 100 Perceived risk Pearson .296(**) 1 .271(**) -.802(**) (loss of money if Correlation stem cell is not Sig. (2-tailed) .003 . .006 .000 used in lifetime) N 100 100 100 100 Perceived risk Pearson .263(**) .271(**) 1 -.145 (natural disaster Correlation and tech failure in Sig. (2-tailed) .008 .006 . .151 lab) N 100 100 100 100 143
  • 156. BY AVIROOP MARKETING THESIS BANIK Motivation (to use Pearson -.313(**) -.802(**) -.145 1 SCB in near Correlation future) Sig. (2-tailed) .002 .000 .151 . N 100 100 100 100** Correlation is significant at the 0.01 level (2-tailed). Interpretation - Motivation and Perceived risk are negatively correlated- • Respondents, who find stem cell banking technology is not mature enough, would lose the motivation to use stem cell banking in the near future. • Respondents who perceive that stem cell banking would cause loss of money, if it’s not used in his/her baby’s lifetime; causes lose motivation to use stem cell banking in the near future. 144
  • 157. BY AVIROOP MARKETING THESIS BANIK Correlation between Self efficacy and Perceived riskDescriptive Statistics Std. Mean Deviation N Perceived risk (tech is not mature 2.44 1.282 100 enough) Perceived risk (loss of money if stem 3.42 1.532 100 cell is not used in lifetime) Perceived risk (natural disaster 1.71 .832 100 and tech failure in lab) Self efficacy (to use 1.96 1.222 100 the tech) Perceived risk (loss Perceived of money Perceived risk (tech if stem risk (natural Self is not cell is not disaster and efficacy (to mature used in tech failure use the enough) lifetime) in lab) tech) Perceived risk Pearson 1 .296(**) .263(**) -.150 (tech is not mature Correlation enough) Sig. (2-tailed) . .003 .008 .137 N 100 100 100 100 Perceived risk Pearson .296(**) 1 .271(**) -.676(**) (loss of money if Correlation stem cell is not Sig. (2-tailed) .003 . .006 .000 used in lifetime) N 100 100 100 100 Perceived risk Pearson .263(**) .271(**) 1 -.151 (natural disaster Correlation and tech failure in Sig. (2-tailed) .008 .006 . .135 lab) N 100 100 100 100 145
  • 158. BY AVIROOP MARKETING THESIS BANIK Self efficacy (to Pearson -.150 -.676(**) -.151 1 use the tech) Correlation Sig. (2-tailed) .137 .000 .135 . N 100 100 100 100** Correlation is significant at the 0.01 level (2-tailed). Interpretation - Self efficacy and Perceived risk are negatively correlated-. • Respondents who perceive that stem cell banking would cause loss of money, if it’s not used in his/her baby’s lifetime; they would not be confident of understanding and using this service. 146
  • 159. BY AVIROOP MARKETING THESIS BANIK Correlation between Perceived risk Expectation of better service Expectation Expectation of better of better Perceived Perceived service service risk (loss risk (Genetic (tech Perceived of money (natural testing of should be risk (tech if stem disaster baby along made easy is not cell is not and tech with to mature used in failure in storing understand enough) lifetime) lab) stem cell) for people)Perceived risk Pearson 1 .296(**) .263(**) -.113 .022(tech is not Correlationmature enough) Sig. (2-tailed) . .003 .008 .265 .825 N 100 100 100 100 100Perceived risk Pearson .296(**) 1 .271(**) -.687(**) .110(loss of money Correlationif stem cell is Sig. (2-tailed) .003 . .006 .000 .277not used in Nlifetime) 100 100 100 100 100Perceived risk Pearson .263(**) .271(**) 1 -.064 .113(natural disaster Correlationand tech failure Sig. (2-tailed) .008 .006 . .530 .261in lab) N 100 100 100 100 100Expectation of Pearson -.113 -.687(**) -.064 1 -.081better service Correlation(Genetic testing Sig. (2-tailed) .265 .000 .530 . .421of baby along Nwith storing 100 100 100 100 100stem cell)Expectation of Pearson .022 .110 .113 -.081 1better service Correlation(tech should be Sig. (2-tailed) .825 .277 .261 .421 .made easy to Nunderstand for 100 100 100 100 100people)** Correlation is significant at the 0.01 level (2-tailed). 147
  • 160. BY AVIROOP MARKETING THESIS BANIK Interpretation - Perceived risk and Expectation of better service are negatively correlated-. • Respondents who perceive that stem cell banking would cause loss of money, if it’s not used in his/her baby’s lifetime; they would not want any add-on services like genetic testing for the babies along with storing stem cells. 148
  • 161. BY AVIROOP MARKETING THESIS BANIK 12 REGRESSION >> USING SPSS 149
  • 162. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Complexity and Rejection to adopt SCB among respondentsVariables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Complexi ty (a complex procedure . Enter to understan d)(a)a All requested variables entered.b Dependent Variable: Rejection to adopt SCB among respondents Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .675(a) .456 .450 1.005a Predictors: (Constant), Complexity (a complex procedure to understand) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 82.890 1 82.890 82.093 .000(a) on Residual 98.950 98 1.010 Total 181.840 99a Predictors: (Constant), Complexity (a complex procedure to understand)b Dependent Variable: Rejection to adopt SCB among respondents 150
  • 163. BY AVIROOP MARKETING THESIS BANIKCoefficients (a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 1.763 .262 6.718 .000 Complexity (a complex .656 .072 .675 9.061 .000 procedure to understand)a Dependent Variable: Rejection to adopt SCB among respondents Interpretation • The value of R (multiple correlation coefficients) is 0.675, which is high enough to show that complexity (I.V) in understanding stem cell banking among respondents is one of the main factors that affect adoption of SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are positively correlated. • Under unstandardized coefficients, B (regression coefficient) is large (0.656), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t=9 (-2 < t > +2) • The regression equation can be written as follows: o Rejection to adopt SCB= 1.76 + 0.656(Complexity) • From the regression equation, I can say that when “complexity” goes up by 1, consumer rejection goes up by 0.656. 151
  • 164. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Complexity and Opposition to adopt SCB(thinking it’s a wastage of money)among respondentsVariables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Complexi ty (a complex procedure . Enter to understan d)(a)a All requested variables entered.b Dependent Variable: Opposition to adopt SCB(wastage of money) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .722(a) .521 .516 1.009a Predictors: (Constant), Complexity (a complex procedure to understand) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 108.628 1 108.628 106.742 .000(a) on Residual 99.732 98 1.018 Total 208.360 99a Predictors: (Constant), Complexity (a complex procedure to understand)b Dependent Variable: Opposition to adopt SCB(wastage of money) 152
  • 165. BY AVIROOP MARKETING THESIS BANIK Coefficients(a) Unstandardized Standardized Coefficients Coefficients Model B Std. Error Beta t Sig. 1 (Constant) 1.065 .263 4.042 .000 Complexity (a complex .751 .073 .722 10.332 .000 procedure to understand)a Dependent Variable: Opposition to adopt SCB(wastage of money) Interpretation • The value of R (multiple correlation coefficients) is 0.722, which is high enough to show complexity (I.V) to understand stem cell banking among respondents is one of the main factors that they oppose to adopt SCB (D.V), thinking it’s wastage of money. • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are positively correlated. • Under unstandardized coefficients, B (regression coefficient) is large (0.751), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t=10.33 (-2 < t > +2) • The regression equation can be written as follows: o Opposition to adopt SCB= 1.06 + 0.75 (Complexity) • From the regression equation, I can say that when “complexity” goes up by 1, consumer opposition goes up by 0.75. 153
  • 166. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Complexity and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Complexi ty (a complex procedure . Enter to understan d)(a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(but go with their docs suggestion) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .512(a) .262 .255 .963a Predictors: (Constant), Complexity (a complex procedure to understand) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 32.297 1 32.297 34.803 .000(a) on Residual 90.943 98 .928 Total 123.240 99a Predictors: (Constant), Complexity (a complex procedure to understand)b Dependent Variable: Postponement to adopt SCB(but go with their docs suggestion) 154
  • 167. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) .889 .252 3.532 .001 Complexity (a complex .409 .069 .512 5.899 .000 procedure to understand)a Dependent Variable: Postponement to adopt SCB(on their docs suggestion) Interpretation • The value of R (multiple correlation coefficients) is 0.512, which show complexity (I.V) in understanding stem cell banking among respondents is one of the factors that they postpone to adopt SCB (D.V), but ready to go for it, if their docs suggest them to do so. • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are positively correlated. • Under unstandardized coefficients, B (regression coefficient) is moderate (0.409), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t=5.89 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 0.88 + 0.409(Complexity) • From the regression equation, I can say that when “complexity” goes up by 1, consumer postponement goes up by 0.409. But this postponement can be converted into adoption, if docs provide positive suggestions to the couples to take up stem cell banking service. 155
  • 168. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Complexity and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Complexi ty (a complex procedure . Enter to understan d)(a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .648(a) .419 .413 .982a Predictors: (Constant), Complexity (a complex procedure to understand) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 68.255 1 68.255 70.779 .000(a) on Residual 94.505 98 .964 Total 162.760 99a Predictors: (Constant), Complexity (a complex procedure to understand)b Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) 156
  • 169. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 1.187 .256 4.626 .000 Complexity (a complex .595 .071 .648 8.413 .000 procedure to understand)a Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) 157
  • 170. BY AVIROOP MARKETING THESIS BANIK Interpretation • The value of R (multiple correlation coefficients) is 0.648, which is high enough to show complexity (I.V) to understand stem cell banking among respondents is one of the main factors that they postpone to adopt SCB (D.V), but ready to go for it, if they see advertisements and promotional campaign on T.V and radio. • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are positively correlated. • Under unstandardized coefficients, B (regression coefficient) is moderately large (0.595), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t=8.41 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 1.18 + 0.595(Complexity) • From the regression equation, I can say that when “complexity” goes up by 1, consumer postponement goes up by 0.595. But this postponement can be converted into adoption, if they see advertisements and promotional campaign on T.V and radio. • So, marketers need to promote this healthcare service in most easy and convincing way in T.V and via other ad mediums. 158
  • 171. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Complexity and Postponement to adopt SCB among respondentsVariables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Complexi ty (a complex procedure . Enter to understan d)(a)a All requested variables entered. Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .665(a) .442 .436 .982a Predictors: (Constant), Complexity (a complex procedure to understand)b Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 74.895 1 74.895 77.673 .000(a) on Residual 94.495 98 .964 Total 169.390 99a Predictors: (Constant), Complexity (a complex procedure to understand)b Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) 159
  • 172. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) .222 .256 .865 .389 Complexity (a complex .623 .071 .665 8.813 .000 procedure to understand)a Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) Interpretation • The value of R (multiple correlation coefficients) is 0.665, which is high enough to show complexity (I.V) to understand stem cell banking among respondents is one of the main factors that they postpone to adopt SCB (D.V), but ready to adopt it, if there is reduction in enrolling fee. • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are positively correlated. • Under unstandardized coefficients, B (regression coefficient) is large (0.623), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t=8.81 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 0.22 + 0.623(Complexity) • From the regression equation, I can say that when “complexity” goes up by 1, consumer postponement goes up by 0.623. But this postponement can be converted into adoption, if there is reduction in enrolling fee. 160
  • 173. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Motivation and Rejection to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Motivatio n (to use SCB in . Enter near future)(a)a All requested variables entered.b Dependent Variable: Rejection to adopt SCB among respondentsModel Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .693(a) .480 .475 .982a Predictors: (Constant), Motivation (to use SCB in near future) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 87.311 1 87.311 90.518 .000(a) on Residual 94.529 98 .965 Total 181.840 99a Predictors: (Constant), Motivation (to use SCB in near future)b Dependent Variable: Rejection to adopt SCB among respondents 161
  • 174. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 5.658 .204 27.771 .000 Motivation (to use -.765 .080 -.693 -9.514 .000 SCB in near future)a Dependent Variable: Rejection to adopt SCB among respondents Interpretation • The value of R (multiple correlation coefficients) is 0.693, which is high enough to show Motivation (I.V) for using stem cell banking among respondents is one of the main factors that they reject to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negatively large (-0.765), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t=-9.51 (-2 < t > +2) • The regression equation can be written as follows: o Rejection to adopt SCB= 5.65 - 0.765(Motivation) • From the regression equation, I can say that when “Motivation” goes up by 1, consumer rejection goes down by 0.765. 162
  • 175. BY AVIROOP MARKETING THESIS BANIKCausal relationship between Motivation and Opposition to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Motivatio n (to use SCB in . Enter near future)(a)a All requested variables entered.b Dependent Variable: Opposition to adopt SCB(wastage of money) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .838(a) .703 .699 .795a Predictors: (Constant), Motivation (to use SCB in near future) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 146.373 1 146.373 231.413 .000(a) on Residual 61.987 98 .633 Total 208.360 99a Predictors: (Constant), Motivation (to use SCB in near future)b Dependent Variable: Opposition to adopt SCB(wastage of money) 163
  • 176. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 5.779 .165 35.026 .000 Motivation (to use -.991 .065 -.838 -15.212 .000 SCB in near future)a Dependent Variable: Opposition to adopt SCB(wastage of money) Interpretation • The value of R (multiple correlation coefficients) is 0.838, which is high enough to show Motivation (I.V) for using stem cell banking among respondents is one of the main factors that they oppose to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negatively large (-0.991), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -15.21 (-2 < t > +2) • The regression equation can be written as follows: o Opposition to adopt SCB= 5.77 - 0.991(Motivation) • From the regression equation, I can say that when “Motivation” goes up by 1, 164
  • 177. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Motivation and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Motivatio n (to use SCB in . Enter near future)(a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(on their docs suggestion) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .529(a) .280 .272 .952a Predictors: (Constant), Motivation (to use SCB in near future) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 34.485 1 34.485 38.077 .000(a) on Residual 88.755 98 .906 Total 123.240 99a Predictors: (Constant), Motivation (to use SCB in near future)b Dependent Variable: Postponement to adopt SCB(on their docs suggestion) 165
  • 178. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 3.327 .197 16.853 .000 Motivation (to use -.481 .078 -.529 -6.171 .000 SCB in near future)a Dependent Variable: Postponement to adopt SCB(on their docs suggestion) 166
  • 179. BY AVIROOP MARKETING THESIS BANIK Interpretation • The value of R (multiple correlation coefficients) is 0.529, which is moderate to show Motivation (I.V) for using stem cell banking among respondents is one of the factors that they postpone to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negative (- 0.481), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -6.17 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 3.32 - 0.481(Motivation) • From the regression equation, I can say that when “Motivation” goes up by 1, consumer postponement goes down by 0.481. • Docs should be in the promotional loop to motivate couples to adopt stem cell banking. 167
  • 180. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Motivation and Postponement to adopt SCB among respondentsVariables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Motivatio n (to use SCB in . Enter near future)(a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .693(a) .480 .475 .929a Predictors: (Constant), Motivation (to use SCB in near future) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 78.140 1 78.140 90.495 .000(a) on Residual 84.620 98 .863 Total 162.760 99a Predictors: (Constant), Motivation (to use SCB in near future)b Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) 168
  • 181. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 4.787 .193 24.830 .000 Motivation (to use -.724 .076 -.693 -9.513 .000 SCB in near future)a Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) 169
  • 182. BY AVIROOP MARKETING THESIS BANIK Interpretation • The value of R (multiple correlation coefficients) is 0.693, which is large enough to show Motivation (I.V) for using stem cell banking among respondents is one of the main factors that affect postponement to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negatively large (-0.724), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -9.51 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 4.78 - 0.724(Motivation) • From the regression equation, I can say that when “Motivation” goes up by 1, consumer postponement goes down by 0.724. • But this postponement can be converted into adoption, if they see advertisements and promotional campaign on T.V and radio, which would fuel their motivation towards stem cell banking. 170
  • 183. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Motivation and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Motivatio n (to use SCB in . Enter near future)(a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .603(a) .363 .357 1.049a Predictors: (Constant), Motivation (to use SCB in near future) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 61.555 1 61.555 55.940 .000(a) on Residual 107.835 98 1.100 Total 169.390 99a Predictors: (Constant), Motivation (to use SCB in near future)b Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) 171
  • 184. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 3.736 .218 17.168 .000 Motivation (to use -.642 .086 -.603 -7.479 .000 SCB in near future)a Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) 172
  • 185. BY AVIROOP MARKETING THESIS BANIK Interpretation • The value of R (multiple correlation coefficients) is 0.603, which is moderately large enough to show Motivation (I.V) for using stem cell banking among respondents is one of the main factors that affect postponement to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negatively large (-0.642), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -7.47 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 3.73 - 0.642(Motivation) • From the regression equation, I can say that when “Motivation” goes up by 1, consumer postponement goes down by 0.642. • But this postponement can be converted into adoption, if there is reduction in enrolling fee. 173
  • 186. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Self efficacy and Rejection to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Self efficacy (to use . Enter the tech)(a)a All requested variables entered.b Dependent Variable: Rejection to adopt SCB among respondents Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .794(a) .630 .626 .828a Predictors: (Constant), Self efficacy (to use the tech) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 114.594 1 114.594 167.003 .000(a) on Residual 67.246 98 .686 Total 181.840 99a Predictors: (Constant), Self efficacy (to use the tech)b Dependent Variable: Rejection to adopt SCB among respondents 174
  • 187. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant 5.686 .157 36.182 .000 ) Self efficacy -.880 .068 -.794 -12.923 .000 (to use the tech)a Dependent Variable: Rejection to adopt SCB among respondents Interpretation • The value of R (multiple correlation coefficients) is 0.794, which is large enough to show Self efficacy (I.V) for using stem cell banking among respondents is one of the main factors that affect Rejection to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negatively large (-0.88), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -12.92 (-2 < t > +2) • The regression equation can be written as follows: o Rejection to adopt SCB= 5.68 - 0.88(Self efficacy) • From the regression equation, I can say that when “Self efficacy” goes up by 1, consumer rejection goes down by 0.88. 175
  • 188. BY AVIROOP MARKETING THESIS BANIKCausal relationship between Self efficacy and Opposition to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Self efficacy (to use . Enter the tech)(a)a All requested variables entered.b Dependent Variable: Opposition to adopt SCB(wastage of money) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .710(a) .505 .500 1.026a Predictors: (Constant), Self efficacy (to use the tech) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 105.148 1 105.148 99.839 .000(a) on Residual 103.212 98 1.053 Total 208.360 99a Predictors: (Constant), Self efficacy (to use the tech)b Dependent Variable: Opposition to adopt SCB(wastage of money) 176
  • 189. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Model Coefficients Coefficients t Sig. Std. B Error Beta 1 (Constant) 5.233 .195 26.880 .000 Self efficacy -.843 .084 -.710 -9.992 .000 (to use the tech)a Dependent Variable: Opposition to adopt SCB(wastage of money) Interpretation • The value of R (multiple correlation coefficients) is 0.71, which is large enough to show Self efficacy (I.V) for using stem cell banking among respondents is one of the main factors that affect Opposition to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negatively large (-0.843), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -9.99 (-2 < t > +2) • The regression equation can be written as follows: o Opposition to adopt SCB= 5.23 - 0.843(Self efficacy) • From the regression equation, I can say that when “Self efficacy” goes up by 1, consumer opposition goes down by 0.843. 177
  • 190. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Self efficacy and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Self efficacy (to use . Enter the tech)(a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .518(a) .268 .260 1.103a Predictors: (Constant), Self efficacy (to use the tech) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 43.594 1 43.594 35.850 .000(a) on Residual 119.166 98 1.216 Total 162.760 99a Predictors: (Constant), Self efficacy (to use the tech)b Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) 178
  • 191. BY AVIROOP MARKETING THESIS BANIK Coefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant 4.244 .209 20.290 .000 ) Self efficacy -.543 .091 -.518 -5.988 .000 (to use the tech)a Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) 179
  • 192. BY AVIROOP MARKETING THESIS BANIK Interpretation • The value of R (multiple correlation coefficients) is 0.518, which is moderate to show Self efficacy (I.V) for using stem cell banking among respondents is one of the main factors that affect postponement to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negative (- 0.543), which is slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -5.98 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 4.24 - 0.543(Self efficacy) • From the regression equation, I can say that when “Self efficacy” goes up by 1, consumer postponement goes down by 0.543. 180
  • 193. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Self efficacy and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Self efficacy (to use . Enter the tech)(a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .441(a) .194 .186 1.180a Predictors: (Constant), Self efficacy (to use the tech) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 32.917 1 32.917 23.637 .000(a) on Residual 136.473 98 1.393 Total 169.390 99a Predictors: (Constant), Self efficacy (to use the tech)b Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) 181
  • 194. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Model Coefficients Coefficients t Sig. Std. B Error Beta 1 (Constant) 3.235 .224 14.451 .000 Self efficacy -.472 .097 -.441 -4.862 .000 (to use the tech)a Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) Interpretation • The value of R (multiple correlation coefficients) is 0.441, which is moderately low that show Self efficacy (I.V) for using stem cell banking among respondents does not affect much in Postponement to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negative (- 0.472), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -4.86 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 3.23 - 0.472(Self efficacy) • From the regression equation, I can say that when “Self efficacy” goes up by 1, consumer postponement goes down by 0.472. 182
  • 195. BY AVIROOP MARKETING THESIS BANIKCausal relationship between Compatibility and Rejection to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Compatib ility (fits with the . Enter lifestyle)( a)a All requested variables entered.b Dependent Variable: Rejection to adopt SCB among respondents Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .478(a) .228 .220 1.197a Predictors: (Constant), Compatibility (fits with the lifestyle) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 41.461 1 41.461 28.944 .000(a) on Residual 140.379 98 1.432 Total 181.840 99a Predictors: (Constant), Compatibility (fits with the lifestyle)b Dependent Variable: Rejection to adopt SCB among respondents 183
  • 196. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 5.053 .236 21.426 .000 Compatibil ity (fits -.552 .103 -.478 -5.380 .000 with the lifestyle)a Dependent Variable: Rejection to adopt SCB among respondents Interpretation • The value of R (multiple correlation coefficients) is 0.478, which is moderately low that show Compatibility (I.V) for using stem cell banking among respondents does not affect much in Rejection to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negative (- 0.552), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -5.38 (-2 < t > +2) • The regression equation can be written as follows: o Rejection to adopt SCB= 5.05 - 0.552(Compatibility) • From the regression equation, I can say that when “Compatibility” goes up by 1, consumer rejection goes down by 0.552. 184
  • 197. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Compatibility and Opposition to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Compatib ility (fits with the . Enter lifestyle)( a)a All requested variables entered.b Dependent Variable: Opposition to adopt SCB(wastage of money) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .682(a) .466 .460 1.066a Predictors: (Constant), Compatibility (fits with the lifestyle) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 97.001 1 97.001 85.364 .000(a) on Residual 111.359 98 1.136 Total 208.360 99a Predictors: (Constant), Compatibility (fits with the lifestyle)b Dependent Variable: Opposition to adopt SCB(wastage of money) 185
  • 198. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 5.252 .210 25.003 .000 Compatibil ity (fits -.845 .091 -.682 -9.239 .000 with the lifestyle)a Dependent Variable: Opposition to adopt SCB(wastage of money) Interpretation • The value of R (multiple correlation coefficients) is 0.682, which is large enough to show Compatibility (I.V) for using stem cell banking among respondents is one of the factors that affect Opposition to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negative (- 0.845), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -9.23 (-2 < t > +2) • The regression equation can be written as follows: o Opposition to adopt SCB= 5.25 – 0.845(Compatibility) • From the regression equation, I can say that when “Compatibility” goes up by 1, consumer opposition goes down by 0.845. 186
  • 199. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Compatibility and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Compatib ility (fits with the . Enter lifestyle)( a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(on their docs suggestion) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .398(a) .158 .150 1.029a Predictors: (Constant), Compatibility (fits with the lifestyle) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 19.492 1 19.492 18.413 .000(a) on Residual 103.748 98 1.059 Total 123.240 99a Predictors: (Constant), Compatibility (fits with the lifestyle)b Dependent Variable: Postponement to adopt SCB(on their docs suggestion) 187
  • 200. BY AVIROOP MARKETING THESIS BANIK Coefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 3.010 .203 14.844 .000 Compatibil ity (fits -.379 .088 -.398 -4.291 .000 with the lifestyle)a Dependent Variable: Postponement to adopt SCB(on their docs suggestion) Interpretation • The value of R (multiple correlation coefficients) is 0.398, which is low to show Compatibility (I.V) for using stem cell banking among respondents is not one of the main factor that affect Opposition to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negative (- 0.379), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= -4.29 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 3.0 – 0.379(Compatibility) • From the regression equation, I can say that when “Compatibility” goes up by 1, consumer postponement goes down by 0.379. 188
  • 201. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Compatibility and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Compatib ility (fits with the . Enter lifestyle)( a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .596(a) .355 .348 1.035a Predictors: (Constant), Compatibility (fits with the lifestyle) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 57.789 1 57.789 53.952 .000(a) on Residual 104.971 98 1.071 Total 162.760 99a Predictors: (Constant), Compatibility (fits with the lifestyle)b Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV,radio etc) 189
  • 202. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 4.471 .204 21.921 .000 Compatibil ity (fits -.652 .089 -.596 -7.345 .000 with the lifestyle)a Dependent Variable: Postponement to adopt SCB(only if there is high awareness of SCB in TV, radio etc) Interpretation • The value of R (multiple correlation coefficients) is 0.596, which is moderately large that show Compatibility (I.V) for using stem cell banking among respondents is one of the main factor that affect postponement to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negative (- 0.652), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= - 7.34 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 4.47 – 0.652(Compatibility) • From the regression equation, I can say that when “Compatibility” goes up by 1, consumer postponement goes down by 0.652. 190
  • 203. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Compatibility and Postponement to adopt SCB among respondents Variables Entered/Removed(b) Mode Variables Variables l Entered Removed Method 1 Compatib ility (fits with the . Enter lifestyle)( a)a All requested variables entered.b Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .602(a) .363 .356 1.050a Predictors: (Constant), Compatibility (fits with the lifestyle) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 61.417 1 61.417 55.745 .000(a) on Residual 107.973 98 1.102 Total 169.390 99a Predictors: (Constant), Compatibility (fits with the lifestyle)b Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) 191
  • 204. BY AVIROOP MARKETING THESIS BANIK Coefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 3.641 .207 17.601 .000 Compatibil ity (fits -.672 .090 -.602 -7.466 .000 with the lifestyle)a Dependent Variable: Postponement to adopt SCB(there is reduction in enrolling fee) Interpretation • The value of R (multiple correlation coefficients) is 0.602, which is moderately large that show Compatibility (I.V) for using stem cell banking among respondents is one of the main factor that affect postponement to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are negatively correlated. • Under unstandardized coefficients, B (regression coefficient) is negative (- 0.672), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= - 7.46 (-2 < t > +2) • The regression equation can be written as follows: o Postponement to adopt SCB= 3.64 – 0.672(Compatibility) • From the regression equation, I can say that when “Compatibility” goes up by 1, consumer postponement goes down by 0.672. 192
  • 205. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Perceived risk and Rejection to adopt SCB among respondents Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .733(a) .537 .522 .937a Predictors: (Constant), Perceived risk (natural disaster and tech failure in lab), Perceived risk (tech is not mature enough) ,Perceived risk (loss of money if stem cell is not used in lifetime) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 97.612 3 32.537 37.085 .000(a) on Residual 84.228 96 .877 Total 181.840 99a Predictors: (Constant), Perceived risk (natural disaster and tech failure in lab), Perceived risk (tech is not mature enough) ,Perceived risk (loss of money if stem cell is not used in lifetime)b Dependent Variable: Rejection to adopt SCB among respondents 193
  • 206. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 1.667 .287 5.812 .000 Perceived risk (tech is .157 .078 .148 2.001 .048 not mature enough) Perceived risk (loss of money if .613 .066 .693 9.313 .000 stem cell is not used in lifetime) Perceived risk (natural disaster and -.109 .120 -.067 -.907 .366 tech failure in lab)a Dependent Variable: Rejection to adopt SCB among respondents 194
  • 207. BY AVIROOP MARKETING THESIS BANIK Interpretation • The value of R (multiple correlation coefficients) is 0.733, which is large that show Perceived risks (I.V) in stem cell banking among respondents is one of the main factor that affect rejection to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are positively correlated. • Under unstandardized coefficients, B (regression coefficient) is positive (+0.613), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= 9.31 (-2 < t > +2) • The regression equation can be written as follows: o Rejection= 1.66 + 0.613{Perceived risk (loss of money if stem cell is not used in lifetime)} • From the regression equation, I can say that when “Perceived risk (loss of money if stem cell is not used in lifetime)” goes up by 1, consumer rejection goes up by 0.613. 195
  • 208. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Perceived risk and Opposition to adopt SCB among respondentsModel Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .856(a) .732 .724 .762a Predictors: (Constant), Perceived risk (natural disaster and tech failure in lab), Perceived risk (tech is not mature enough) ,Perceived risk (loss of money if stem cell is not used in lifetime) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 152.575 3 50.858 87.521 .000(a) on Residual 55.785 96 .581 Total 208.360 99a Predictors: (Constant), Perceived risk (natural disaster and tech failure in lab), Perceived risk (tech is not mature enough) ,Perceived risk (loss of money if stem cell is not used in lifetime)b Dependent Variable: Opposition to adopt SCB(wastage of money) 196
  • 209. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) .555 .233 2.377 .019 Perceived risk (tech is .113 .064 .099 1.763 .081 not mature enough) Perceived risk (loss of money if .763 .054 .806 14.258 .000 stem cell is not used in lifetime) Perceived risk (natural disaster and .082 .098 .047 .838 .404 tech failure in lab)a Dependent Variable: Opposition to adopt SCB(wastage of money) 197
  • 210. BY AVIROOP MARKETING THESIS BANIK Interpretation • The value of R (multiple correlation coefficients) is 0.856, which is large that show Perceived risks (I.V) in stem cell banking among respondents is one of the main factor that affect opposition to adopt SCB (D.V). • In the ANOVA table, the significance value of the F statistic is small (smaller than 0.05) then the independent variables do a good job explaining the variation in the dependent variable. • From the coefficient table, under standardized coefficients, the Beta sign shows that I.V and D.V are positively correlated. • Under unstandardized coefficients, B (regression coefficient) is positive (+0.763), which is the slope of the regression line. • Causal relationship between I.V and D.V is significant with t= 14.25 (-2 < t > +2) • The regression equation can be written as follows: o Opposition= 0.55 + 0.763{Perceived risk (loss of money if stem cell is not used in lifetime)} • From the regression equation, I can say that when “Perceived risk (loss of money if stem cell is not used in lifetime)” goes up by 1, consumer opposition goes up by 0.763. 198
  • 211. BY AVIROOP MARKETING THESIS BANIK Causal relationship between Relative advantage and Rejection to adopt SCB among respondents Model Summary Std. Error Mode Adjusted of the l R R Square R Square Estimate 1 .738(a) .545 .515 .944a Predictors: (Constant), Relative advantage of private bank on public banks, Relative advantage(low treatment cost in thefuture), Relative advantage(no side effects), Relative advantage (life time opportunity), Relative advantage(easy and hygienicduring delivery), Relative advantage(price-quality relationship) ANOVA(b) Sum of Mean Model Squares df Square F Sig. 1 Regressi 99.028 6 16.505 18.535 .000(a) on Residual 82.812 93 .890 Total 181.840 99a Predictors: (Constant), Relative advantage of private bank on public banks, Relative advantage(low treatment cost in thefuture), Relative advantage(no side effects), Relative advantage (life time opportunity), Relative advantage(easy and hygienicduring delivery), Relative advantage(price-quality relationship)b Dependent Variable: Rejection to adopt SCB among respondents 199
  • 212. BY AVIROOP MARKETING THESIS BANIKCoefficients(a) Unstandardized Standardized Coefficients Coefficients Std. Model B Error Beta t Sig. 1 (Constant) 8.315 .613 13.573 .000 Relative advantage -.589 .162 -.282 -3.637 .000 (life time opportunity) Relative advantage(pri -.349 .095 -.290 -3.690 .000 ce-quality relationship) Relative advantage(lo w treatment -.430 .157 -.210 -2.745 .007 cost in the future) Relative advantage(no .452 .174 .193 2.597 .011 side effects) Relative advantage(eas y and -.641 .219 -.218 -2.933 .004 hygienic during delivery) Relative advantage of private bank -.949 .232 -.300 -4.097 .000 on public