Demographic influences on consumer decisions in the banking sector: evidence from India

Kaur, Harpreet and Arora, Sangeeta (2019) Demographic influences on consumer decisions in the banking sector: evidence from India. Journal of Financial Services Marketing. 01-13. ISSN 13630539

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Abstract

The aim of this research was to devise an instrument that achieves complete dimensionality of bank selection attributes considered by Indian customers in choosing a particular bank and assess how these dimensions differ across demographic subgroups. A quantitative methodology was used in the analysis of responses given by 683 bank customers, acquired by focus-group interviews and a well-structured questionnaire. The results showed that determinants of bank selection, such as convenience and service delivery, differ significantly by gender, age, educational level, occupational level, income, and the type of bank. The originality of the research was its novelty in investigating demographic differences in the bank selection decisions of Indian customers to guide India’s banking management toward more effective marketing and services. The study augmented the theoretical body of knowledge in the area of bank selection decisions. The results provide practical implications for bank managers, marketing experts, and advertising executives to devise appropriate marketing strategies to accommodate their customers’ preferences. Banks can use the research findings to efficiently channel their demographicdriven marketing to win over the targeted customers.

Item Type: Article
Uncontrolled Keywords: Bank selection, Demographics, Consumer behavior, Choice criteria, Customers
Subjects: Departments at MU > Commerce
Depositing User: department of Commerce
Date Deposited: 27 Feb 2021 06:15
Last Modified: 27 Feb 2021 06:15
URI: http://eprints.manipal.edu/id/eprint/156442

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