Assessing the Willingness to Pay Additional Money for Purchasing Online Accounting Program Packages of Entrepreneurs in Bangkok and Surrounding Areas
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Abstract
This research aims to 1) identify factors influencing entrepreneurs' willingness to pay for additional features in online accounting software packages and 2) assess the value of this additional willingness to pay among entrepreneurs in Bangkok and its vicinity. The conceptual framework applies theories of supply and demand, utility maximization, rational decision-making, and willingness to pay. This quantitative research employed questionnaires to collect data from 448 entrepreneurs using stratified random sampling and analyzed the data using a panel logit model.The results show that the average initial willingness to pay is 2,903 baht. Entrepreneurs are willing to pay the highest additional amounts for: 10 user licenses at 2,114 baht (72.82%), 5 GB of file storage at 951 baht (32.76%), and automatic inventory recording at 549 baht (18.91%). These findings reflect the importance of pricing strategies for online accounting software in entrepreneurs' decision-making processes. The results can be applied to develop appropriate and flexible pricing strategies and to offer essential features such as automatic inventory recording. Additionally, the government should participate in formulating policies to promote wider adoption of online accounting software among entrepreneurs.
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