Clients’ characteristics and marketing of products: some evidence from a financial institution

Fernandez-Aguirre, Karmele; Gallastegui‐Zulaica, Inmaculada; Modroño-Herrán, Juan I.; Núñez‐Antón, Vicente

doi:10.1108/02652320310488420

Cited by 5 publications

(8 citation statements)

References 23 publications

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“…Institutional efficiency and the lender-borrower relationship From the financial institutional perspective, our focus is on the relationships between the customer and the bank (traditional product marketing), and between the employee and the bank (human resource) (Fernandez-Aguirre et al, 2003;Howcroft et al, 2007). On the bank-customer side, Harrison (1994), for example, conducted a qualitative study on psychographic segmentation that uses variables such as the individuals' own perceived knowledge and understanding of financial services, the perceived confidence and ability in dealing with financial matters and the expressed level of interest (involvement) in financial services.…”

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confidence: 99%

Borrower attitudes, lender attitudes and agricultural lending in rural China

Kong

Turvey

et al. 2014

International Journal of Bank Marketing

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Purpose – The purpose of this paper is to investigate the lender-borrower relationship as it relates to Sannong loans for agricultural and rural financial markets by Rural Credit Cooperatives (RCCs) and other rural lenders. This paper is motivated by recent reforms to the rural credit market designed to encourage increased lending, particularly to farmers. Little is understood about the lender-borrower relationship in rural China. This paper fills that gap. Design/methodology/approach – The paper investigates relational attitudes between 120 loan officers at RCCs in China's costal Shandong province, paired with a field survey using matched questions to 394 farm households in the same region. Pairing lenders’ perception toward borrowers regarding RCC microcredit lending mechanism, against borrowers’ perception toward lenders and how themselves were perceived by lenders in the same regards, the paper investigates the degree of disconnect between lenders and with distinct cluster groupings based on their perceptions, the paper analyzes the influence of demographics on the borrower and lender cluster memberships. Findings – The paper identifies four borrower clusters and two lender clusters. Borrower clusters are segmented on credit access and satisfaction with their rural lender. The paper also identifies two lender clusters, segmented principally on financial incentives and lending activities. While all lenders view farming with higher regard than farmers believe they do, one cluster is clearly pro-farmer while the second is somewhat indifferent. Indifference is more related to current portfolio activities. The paper draws conclusions that policy initiatives should be put in place at RCCs that close the gap between lender and borrower in their credit relationship. Rural lenders should concentrate on advocating RCCs’ care and trust toward agriculture and farm households. At the institutional level, effort should be extended to train a dedicated team of loan officers that specialize in servicing farm households with standardized lending practices. This research provides financial institutions with outreach mechanisms to borrowers, while also training lenders to borrowers’ sensitivities. Originality/value – Management studies of RCCs are few. This is the first paper that the authors are aware of that studies farmer and lender attitudes on the same scale.

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confidence: 99%

Borrower attitudes, lender attitudes and agricultural lending in rural China

Kong

Turvey

et al. 2014

International Journal of Bank Marketing

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“…[9,10,17]). A principal axis method is used as a pre-processing step, and clustering considers a number of the first principal coordinate vectors accounting for a significant percentage of the initial variability.…”

Section: Symmetrical Methods: Exploratory Multivariate Techniquesmentioning

confidence: 97%

Knowledge extraction from a large on-line survey: a case study for a higher education corporate marketing

Fernandez-Aguirre

Landaluce-Calvo

Martín-Arroyuelos

et al. 2011

Journal of Applied Statistics

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For a higher education public institution, young in relative terms, featuring local competition with another private and both long-established and reputed one, it is of great importance to become a reference university institution to be better known and felt with identification in the society it belongs to and ultimately to reach a good position within the European Higher Education Area. These considerations have made the university governors setting up the objective of achieving an adequate management of the university institutional brand focused on its logo and on image promotion, leading to the establishment of a university shop as it is considered a highly adequate instrument for such promotion. In this context, an on-line survey is launched on three different kinds of members of the institution, resulting in a large data sample. Different kinds of variables are analysed through appropriate exploratory multivariate techniques (symmetrical methods) and regression-related techniques (non-symmetrical methods). An advocacy for such combination is given as a conclusion. The application of statistical techniques of data and text mining provides us with empirical insights about the institution members' perceptions and helps us to extract some facts valuable to establish policies that would improve the corporate identity and the success of the corporate shop.

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“…This study is first of its kind to develop a scale of value dimensions exclusively pertaining to the Indian retail bank setting. Previous studies on consumer behavior in the retail bank context have focused on importance of customer age in determining financial behavior with the bank (Fernandez-Aguirre et al, 2003). This research is the first of its kind to focus on relationship age with the bank instead of customer's physical age to determine customer behavior with the bank.…”

Section: Research Objectivesmentioning

confidence: 99%

“…To be more specific, to engender greater customer intimacy, managers should track customer behavior through analyzing previous transactions, special requests made, suggestions given, etc. and refashion the service offering in a manner that personalizes the service experience (Fernandez-Aguirre et al, 2003;Treacy and Wiersema, 1993) for mature customers. Personalization of services can be achieved by bestowing privileged status, providing special services and proposing tailor made offerings to suit their unique needs.…”

Section: Managerial Implicationsmentioning

confidence: 99%

Relative importance of service value by customer relationship stages

Ponnam¹,

Paul²

2017

IJBM

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Purpose The purpose of this paper is to empirically sketch the phenomenon about the nature of service value expected in different stages of relationship over time in Indian retail banking context. Design/methodology/approach Customer service value dimensions pertinent to Indian retail banking context were explored psychometrically. Later, mean factor scores of obtained service value dimensions across relationship stages (early, intermediate, and advanced) were calculated and fed into PERMAP software to graphically depict the relationship between value dimensions and relationship stages. To validate the PERMAP solution, one-way ANOVA was run for each value dimension with independent variable as a relationship level. Findings The service value dimensions pertinent to Indian banking context are customer intimacy, product leadership, service equity, perceived sacrifice, service quality, and operational excellence. The authors could empirically prove that except for operational excellence and service quality, all the other value dimensions exhibited variation in importance over time. Results reveal that customers in the early stages of relationship value tangible value dimensions and the ones in advanced stages of relationship value intangible dimensions. Practical implications Managers should formulate marketing strategies which will signal the customers, the superiority of the bank in delivering performance on tangible dimensions during the early stages of relationship, whereas understanding and addressing unique customer needs and establishing an emotional bonding with customers should be emphasized in the advanced stages of relationship. Originality/value The current research could adequately establish the essential role of tangible value dimensions in shaping service value during the early stages of relationship and intangible value dimensions in the later stages of relationship.

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Clients’ characteristics and marketing of products: some evidence from a financial institution

Cited by 5 publications

References 23 publications

Borrower attitudes, lender attitudes and agricultural lending in rural China

Borrower attitudes, lender attitudes and agricultural lending in rural China

Knowledge extraction from a large on-line survey: a case study for a higher education corporate marketing

Relative importance of service value by customer relationship stages

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