Selling financial services: the effect of consumer product knowledge and salesperson commission on consumer suspicion and intentions

2012 ◽  
Vol 41 (4) ◽  
pp. 418-435 ◽  
Author(s):  
Thomas E. DeCarlo ◽  
Russell N. Laczniak ◽  
Thomas W. Leigh
Keyword(s):  
Financial Services ◽  
Consumer Product ◽  
Product Knowledge

scholarly journals The Effects of Service and Consumer Product Knowledge on Online Customer Loyalty

2011 ◽  
Vol 12 (11) ◽  
pp. 741-766 ◽  
Author(s):  
Jingjun Xu ◽  
◽  
Izak Benbasat ◽  
Ron Cenfetelli ◽  
◽  
...  
Keyword(s):  
Customer Loyalty ◽  
Consumer Product ◽  
Product Knowledge

Impact of media use on consumer product knowledge

2020 ◽  
Vol 48 (2) ◽  
pp. 11-24
Author(s):  
Guoliang Cai
Keyword(s):  
Perceived Risk ◽  
Media Use ◽  
Positive Impact ◽  
Consumer Product ◽  
Product Knowledge ◽  
Traditional Media ◽  
Learning Stage ◽  
Professional Network ◽  
Network Media ◽  
General Network

I explored the relationship between media use and consumers' product knowledge. Using survey data obtained from 1,954 consumers of mother and baby products, I found that (a) use of traditional media, generalized network media, and professional network media had a positive impact on consumer product knowledge, and (b) these relationships were moderated by the mothers' stage of learning about maternal and baby products, and perceived risk of the product. Specifically, when a consumer was at a later stage of learning, use of professional network media had a greater impact on product knowledge than did use of the other 2 types of media. Furthermore, when the perceived risk of a product was high, use of traditional media and general network media had a greater impact on product knowledge than did use of professional network media. The findings have practical implications for marketing staff of companies in their selection of media types to post information, and their consideration of consumers' learning stage and perceived risk of products when implementing marketing plans.

The role of price knowledge in consumer product knowledge structures

2002 ◽  
Vol 19 (6) ◽  
pp. 551-568 ◽  
Author(s):  
Robert Lawson ◽  
Parimal S. Bhagat
Keyword(s):  
Knowledge Structures ◽  
Consumer Product ◽  
Product Knowledge

scholarly journals The Relationship between Learning Style and Training Effectiveness Using Communication Technology for General Insurance Agents

2018 ◽  
pp. 217-222
Keyword(s):  
Central Bank ◽  
Learning Style ◽  
Financial Services ◽  
Training Session ◽  
Training Effectiveness ◽  
Insurance Companies ◽  
Product Knowledge ◽  
Insurance Agents ◽  
General Insurance ◽  
The People

Attaining training effectiveness will be beneficial for General Insurance Agents in performing their daily activities. The training expenditure for General Insurance Agents, which is accounted in the company’s book under the Agency Related Expenses (ARE), applies to all the practitioners in the general insurance agency force with effect from 1st January 2005 where the training hours and related requirements stipulated in the guidelines set by the Central Bank of Malaysia (BNM) must be complied with. The Financial Mediation Bureau (FMB), now known as Ombudsman for Financial Services (OFS), a unit under the Central Bank of Malaysia, had recorded 609 customers complaints in 2015, 660 in 2014 and 742 in 2013 for General Insurance products. This report shows that the people who introduces the insurance products to the public are not well versed with the products thus the knowledge imparted were different from what it is all about. In the insurance industry, the people who plays the role as link between insurance companies and customers are widely known as agents. This research was conducted in two training session where agents were evaluated to find the best way to improve their basic understanding of product knowledge thus connection to the higher-level knowledge is possible. Results indicate that agents are more comfortable, open-minded and less stressful while learning with their peers compares to instructors. The approach using learning style was developed and had resulted a more relax and conducive learning environment and the training effectiveness achieved served as evidence of improved agents’ performance.

Online insurance claims: when more than trust matters

2019 ◽  
Vol 37 (2) ◽  
pp. 579-594 ◽  
Author(s):  
Sabine Gebert-Persson ◽  
Mikael Gidhagen ◽  
James E. Sallis ◽  
Heléne Lundberg
Keyword(s):  
Technology Acceptance ◽  
Financial Services ◽  
Structural Equation ◽  
Ease Of Use ◽  
Perceived Usefulness ◽  
Product Knowledge ◽  
Perceived Ease Of Use ◽  
Insurance Claims ◽  
User Friendliness ◽  
Content Type

Purpose The purpose of this paper is to develop and test a theoretical framework explaining the adoption of online insurance claims characterised by infrequent interactions, inherent complexity and risk. It extends the technology acceptance model to include knowledge-related and trust-related beliefs. Design/methodology/approach The framework is tested with structural equation modelling using data from a survey of 292 customers who made online insurance claims. Findings are further explained through 30 telephone interviews conducted with online and offline claimants. Findings Previous research in financial services has shown trust to be equally or more important than perceived usefulness and perceived ease of use in forming attitudes towards adopting online insurance applications. The findings of this paper contradict this by showing, at best, a weak relationship between trusting attitude and intention to use the online service. Trust is somewhat meaningful; however, perceived ease of use, perceived usefulness and technology attitude are substantially more important in an online insurance claims setting. Research limitations/implications Contradictory results always beg further research to assure their robustness. Nevertheless, they can also point to a developing trend where trust in the internet channel, per se, is of diminishing importance. Internet and product knowledge are not as pertinent to forming intentions as usefulness and ease of use. Practical implications To encourage customers to adopt online applications for a trusted company, all emphasis should be on user friendliness and perceived usefulness of the online interface. Originality/value Compared to other channels, consumers are no longer naïve or distrustful of the online channel for interacting with a firm. If they perceive usefulness and ease of use, they will adopt the offered service.

The effects of country-of-origin fit on cross-border brand alliances

2018 ◽  
Vol 30 (5) ◽  
pp. 1259-1276 ◽  
Author(s):  
Jin Kyun Lee ◽  
Byung-Kwan Lee ◽  
Wei-Na Lee
Keyword(s):  
Country Of Origin ◽  
Product Evaluation ◽  
Consumer Product ◽  
Product Knowledge ◽  
Consumer Decision Making ◽  
Content Type ◽  
Cross Border ◽  
High Knowledge ◽  
Mixed Factorial Design ◽  
The Impact

PurposeThe purpose of this paper is to investigate the impact of country-of-origin (COO) fit and consumer product knowledge on consumer brand attitudes in a cross-border strategic brand alliance (SBA).Design/methodology/approachAn experimental study with 207 subjects was conducted using a series of 2 (COO fit: low vs high COO fit) by 3 (product knowledge: low vs moderate vs high knowledge) by 2 (time: pre- vs post-alliance attitudes) mixed factorial design.FindingsThe impact of COO fit on pre- and post-alliance changes in attitude toward the partner brand showed a nonlinear relationship from high-, to moderate-, to low-knowledge consumers. High COO fit significantly and positively affected pre- and post-alliance changes in attitude toward the partner brand more for high- and low-knowledge consumers than for moderate-knowledge consumers. In contrast, low COO fit significantly and positively affected pre- and post-alliance changes in attitude toward the partner brand more for moderate-knowledge consumers than for high- and low-knowledge consumers.Practical implicationsThe effectiveness of cross-border SBAs differs with consumer product knowledge. For high- and low-knowledge consumers, high COO fit information had greater impact than low COO fit information in their product evaluation. However, when targeting moderate-knowledge consumers, providing sufficient product-related attribute information would help them to generate a favorable brand attitude.Originality/valueThis study attempted to identify the complex relationship between COO fit and consumer product knowledge on the consumer decision-making process.

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