Konstantaki, Violetta
(2007)
Consumer's Negative emotions,
Financial Decisions,
Financial Advice.
[Dissertation (University of Nottingham only)]
(Unpublished)
Abstract
Abstract
The purpose of this study is to explore the consumers decision making
process. In particular, this study attempts to examine consumers negative emotions,
which elicit during a decision processing. Especially, the case of a financial decision
will be examined. Moreover, consumers negative emotion will be investigated in
relation with consumers coping behaviour. To be more specific, the option of seeking
advice as a successful consumers coping behaviour will be explored. Additionally,
the option of seeking advice will be further analysed in terms of advice by the social
environment and the advice by a professional. The current study attempts to cast light
on a specific target group of elderly financial customers. It should be mentioned that
this study is supported by literature related to consumer rational theories, their critics
and financial services marketing articles.
The most appropriate research method, which the research question is better
answered, is the experimental approach. Especially, a research method will use the
scenario based on the experiment.
It can be argued that the studies results are demonstrating particular academic
and managerial implications. It was concluded that the advice option is a successful
coping behaviour for consumers negative emotions. Hence, it can be stated that the
financial advice for the consumer is of vital importance, as consumers are
experiencing significantly lower levels of negative emotions when they are able to
seek an advice. On the other hand, in the research not significant was found difference
in the consumers negative emotions when they have to select between a professional
or non- a professional advice. As a result, the financial institutions could take the
advantage of this research's outcomes. As the research results demonstrate, the
advice which is offered to the consumers could lead to increasing the number of sales
in the financial services. Consumers not only experience lower levels of negative
emotions, but are also more motivated to take a financial decision. Moreover,
financial products turn out to be a long term decision, therefore relationship marketing
could be successfully applied in the financial service sector. Finally, it could be
argued that consumers using the advice option could be more satisfied, customers as
consumer emotions are closely related with customer satisfaction.
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