Get 20M+ Full-Text Papers For Less Than $1.50/day. Start a 14-Day Trial for You or Your Team.

Learn More →

Bank and product selection – an Australian student perspective

Bank and product selection – an Australian student perspective PurposeThe purpose of this paper is to investigate and comment on the factors used by Australian students to select their bank and the products and services they utilise, based on responses to an online questionnaire.Design/methodology/approachA mixed-methods approach, incorporating both qualitative and quantitative methods, was used to investigate this research issue. Convenience sampling resulted in 276 completed online responses. Mean ranking and factor analysis methods were employed to identify the key factors used in selecting a bank and frequency analysis used to examine the products and services utilised by students.FindingsThe key factors used by students to select a bank in Australia were bank competence, recommendations and outside influences, bank costs, returns and services, and finally location. The main bank products and services used by students were automated teller machines (ATMs), savings accounts, internet and telephone banking, and debit cards.Research limitations/implicationsThe use of an online survey which limits the pool of respondents to internet users and, the sample size limits generalisability of the findings.Practical implicationsBanks can better target and understand the key determinants used by students in selecting a bank and the products and services this group values. This will allow Australian banks to develop programs to better attract and retain student customers.Originality/valueProvides insight to and understanding of the determinants used by students to select their bank and the products and services they utilise. Furthermore, this study fills a gap in the literature by focusing on the banking behaviour of Australian students, an important segment of bank customers previously under-researched. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Bank Marketing Emerald Publishing

Bank and product selection – an Australian student perspective

Loading next page...
 
/lp/emerald-publishing/bank-and-product-selection-an-australian-student-perspective-q537DDu400

References (79)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0265-2323
DOI
10.1108/IJBM-10-2016-0151
Publisher site
See Article on Publisher Site

Abstract

PurposeThe purpose of this paper is to investigate and comment on the factors used by Australian students to select their bank and the products and services they utilise, based on responses to an online questionnaire.Design/methodology/approachA mixed-methods approach, incorporating both qualitative and quantitative methods, was used to investigate this research issue. Convenience sampling resulted in 276 completed online responses. Mean ranking and factor analysis methods were employed to identify the key factors used in selecting a bank and frequency analysis used to examine the products and services utilised by students.FindingsThe key factors used by students to select a bank in Australia were bank competence, recommendations and outside influences, bank costs, returns and services, and finally location. The main bank products and services used by students were automated teller machines (ATMs), savings accounts, internet and telephone banking, and debit cards.Research limitations/implicationsThe use of an online survey which limits the pool of respondents to internet users and, the sample size limits generalisability of the findings.Practical implicationsBanks can better target and understand the key determinants used by students in selecting a bank and the products and services this group values. This will allow Australian banks to develop programs to better attract and retain student customers.Originality/valueProvides insight to and understanding of the determinants used by students to select their bank and the products and services they utilise. Furthermore, this study fills a gap in the literature by focusing on the banking behaviour of Australian students, an important segment of bank customers previously under-researched.

Journal

International Journal of Bank MarketingEmerald Publishing

Published: Feb 5, 2018

There are no references for this article.