Consumer decision-making styles under different education background (specific in Finance and Engineering) in banking and financial services

Mei, Dan (2017) Consumer decision-making styles under different education background (specific in Finance and Engineering) in banking and financial services. [Dissertation (University of Nottingham only)]

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Abstract

Based on the literature review of the research in the consumer decision-making style and the relationship between different education background and consumer decision-making, this dissertation using the factor analysis method. It aims the individuals with finance or engineering background as the research subject, and conduct a survey with consumer decision-making style questionnaire of the banking and financial services. To explore the relationship between consumer decision-making style and different education backgrounds in the field of banking and financial services. This dissertation aims to clarify the internal mechanism of consumer decision-making style under the influence of different education background, and provide some guidance for the marketing of banks and the financial institutions. The result shows:

1. When people from different education background making the decision, the effectiveness of the financial consumer information is significant difference. And under the background of their own academic background, people with engineering background need to spend more time and energy to use financial consumer information.

2. Among the people who have finance background, there are two types of the consumer decision-making style are higher than those with engineering background, which is novelty-and-fashion conscious and perfectionistic and high-quality conscious. And individual with engineering background tends to be more conservative in financial spending, while those with finance background are more willing to take risks.

3. Different groups of people, the style of impulsive and careless of consumer decision-making is also has significant difference in the financial market consumption. Compared with people have the engineering background, the individual from finance background in the process of consumption can get more "pleasure" feeling. Moreover, compared with the people from engineering background, they can be more accurate with consumption in the financial market, which is consistent with the expected value of the benefits, and to get more pleasure.

Key Words: consumer decision-making style, banking and financial services, education background

Item Type: Dissertation (University of Nottingham only)
Depositing User: MEI, Dan
Date Deposited: 10 Apr 2018 11:29
Last Modified: 17 Apr 2018 15:15
URI: http://eprints.nottingham.ac.uk/id/eprint/45890

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