Sally McKechnie

Modelling consumer choice of distribution channels: an illustration from financial services

With channels of distribution changing rapidly and multi‐channeling becoming increasingly widespread, studies of consumers will need to focus not just on understanding product choice, but also on understanding the reasons for channel choice. Although the choice of individual channels and the adoption of new channels has been researched, there is little to suggest that we have a more general understanding of why consumers, although purchasing essentially similar products, use some channels rather than others. Using the example of financial services, where multi‐channeling has been the norm for some time, this paper reports on an exploratory study to identify those factors which influence channel choice. Based on the results of focus group discussions, the paper argues that channel choice in financial service can usefully be conceptualised as being determined by consumer, product channel and organisational characteristics, with product‐channel interactions and consumer‐channel interactions being particularly important.

Experience marketing: a review and reassessment

For the last twenty-five years customer experiences have been considered to be a key concept in marketing management, consumer behaviour, services marketing and retailing with the result that the underlying logic and managerial rationale for experience marketing is well established in the marketing literature. However, the gulf between academics and practitioners on this topic is now as wide as ever with bestselling titles on experience marketing written by and for practitioners, which are rich in examples and step-by-step guides to managerial success yet pay scant attention to the contributions of academics in this area. The purpose of this paper is to review and reassess the extant work on experience marketing. Service-Dominant logic is employed to bridge the divide between theory and practice in this respect. A model of customers experience proposed, implications for practitioners and academics are discussed and greater dialogue is called for between marketers and their academic counterparts.

Applying the technology acceptance model to the online retailing of financial services

– Extant research has examined consumer acceptance of the internet in various contexts mainly as a dichotomy (adoption/non‐adoption), thus ignoring the process underlying adoption. This paper aims to provide insights into factors determining the extent to which an innovation is adopted., – The paper reviews the literature on the technology acceptance model (TAM), and justifies the use of this model to explore the factors contributing to the extent to which consumers use the internet as a distribution channel for financial services (FS). Data are collected through telephone interviews with 300 UK consumers responding to a questionnaire., – The application of the TAM model is helpful but additional links need to be included. The key drivers of extent of use are past experience with the internet as a purchasing channel (for non‐FS) and attitudinal aspects, i.e. positive emotions towards the internet as a distribution channel for FS. Insecurity about this channel does not appear to be an obstacle and perceived usefulness is not directly linked to extent of use but fully mediated via attitude towards the channel. Consumers with computer access from home, those with an active interest in FS, as well as consumers who have general online purchasing experience tend to find this channel easy to use, which, jointly with perceived usefulness, leads to a positive attitude toward this distribution channel., – The findings are limited to the FS online retail context and may not be generalisable beyond this context. Future research should be considered using a longitudinal approach., – FS retail providers should consider prior experience with the internet as a distribution channel and product category involvement as segmentation bases, and also provide more opportunities for consumers to try and observe the internet as a distribution channel., – This research explores the determinants of consumer acceptance of online retailing from a process‐based rather than a binary view of adoption of an innovation.

Product placement in movies: a comparison of Chinese and American consumers’ attitudes

In recent years there has been an increase in the practice of product placement. This paper reports the findings of an exploratory quantitative study of the attitudes of Chinese consumers towards product placement. The aim is to provide some insights into how similar, or different, these attitudes are to those of American consumers. Country differences were found to exist between the US and the People’s Republic of China (PRC) in terms of Chinese consumers generally being less accepting of product placement than American consumers, while individual differences were not found to have much of an impact given the major differences in cultural values between the US and the PRC. Also, more ethically-charged products generated greater concerns among both US and Chinese consumers than less ethically-charged products.

Consumer Buying Behaviour in Financial Services: An Overview

Examines existing models of buyer behaviour and evaluates their relevance to financial services in the light of the specific characteristics of the sector and its products. Reviews empirical work relating to both personal and corporate buying behaviour and suggests the IMP framework as a basis for future conceptual work because of its emphasis on the relationships and interactions in the buying process.

The Nature of the Banking Relationship: A Comparison of the Experiences of Male and Female Small Business Ownersi

(CHRISTINE ENNEW AND SALLY MCKECHNIE are with the School of Management and Finance at the University of Nottingham, England, and at the time the paper was written Lauren Read was with the I)epartment of Geography, University of Southampton, England. The purpose of this paper is to shed new light on the issuie of whether banks treat female and mnale small buisiness owners differently, by explorinig the nature of the banking i-elationship from the perspective of two grotips of owner-managers differentiated only bv gender. Being able to identify similarities and differences in the needs anid inotivations of each gender, as well as develop a better understanding of how baniks are perceived, should then enable banks to identify ways in which they may serve their small business owners better. Following a review of the literature, which is predominantly North American- based, this paper goes on to report the findiings of two empirical studies conducted in the UK, which focus on financing conditions and aspects of the overall relationship between the small business an-d the bank manager. The findings suggest that gender based differences in both the provision of finance and the nature of the banking relationship are less substantial than mnight have been expected. There continues to be evidence that some business owners perceive greatei- difficulties in their dealings with theii- bank and perceive themselves as being- subject to discriminatorv behaviour but there is less evidence to suggest that this affects the terms and coniditionIs o)n xNsui h their businesses are finaniced.

Interpreting value in the customer service experience using customer-dominant logic

Abstract Traditionally, customer value has been examined from the perspective of the firm. New understandings of customer value from the customer-dominant logic perspective of services emphasise the need to move away from the service-dominant perspective and adopt a customer-based approach that considers value within the broader context of a customer’s lifeworld. This article explores how individual customers make sense of their participation in an extraordinary, commercially-driven consumption experience. A phenomenological approach is taken to understand the lived experience of these participants. The findings of this exploratory study reveal the highly complex nature of value in the experience in the chosen context of luxury driving experience days. Theoretical and managerial implications are discussed.

The Importance of Likeability as a Measure of Television Advertising Effectiveness

Although much recent research argues for the importance of likeability both as a determinant of advertising effectiveness and as a diagnostic tool to guide the production of television commercials, this work is heavily based upon US samples. The present study seeks to identify the constituents of likeability within a British context and to examine the relationship between likeability, its constituents and evaluations of advertising effectiveness and intention to purchase. The study focused upon FMCG commercials aimed at 16–24-year-olds. The results are discussed both in terms of advertising theory and in comparison with American research.

Consumer perceptions of brand architecture in financial services

Purpose – “Brand architecture” is an organisations approach to the design and management of its brand portfolio. Previous research, focused on the views of practitioners, identified a “multi‐corporate” approach in financial services, where a “family of main brands” was incorporated into an organisations brand portfolio, often in the form of brands traditionally associated with separate companies. The current study seeks to provide contrasting insights from consumer data and to highlight the conceptual and practical implications of the findings.Design/methodology/approach – A qualitative methodology was adopted for the study incorporating six focus groups containing an average of nine participants.Findings – The findings from the current study offer empirical support for the conceptualisation of the corporate brand playing a predominant role in services markets. In doing so, the findings also suggest that the alternative conceptualization of a “multi‐corporate” approach advocated by practitioners and ide...

A Cross-Cultural Perspective on the Role of Branding in Financial Services: The Small Business Market

Research in services marketing has recognised the role of brands as aids to customers’ decision making, particularly in situations where credence qualities and perceived risk may be high. In practice, there is limited empirical evidence for the role played by brands in highly intangibly contexts such as financial services. This paper explores the role of the brand in relation to bank selection by small business customers in two culturally distinct countries, namely Egypt and the UK. The results indicate that there is considerable similarity in the role played by brands in both countries and suggest that greater emphasis should be placed on brands when developing marketing strategies for the small business market.