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Clustering the consumers on the basis of their perceptions of the Internet banking services

Clustering the consumers on the basis of their perceptions of the Internet banking services Purpose – The purpose of the paper is to explore Internet banking services (IBS), consumers availing the services and the potential development possibilities of the services in the challenging operational environment. Design/methodology/approach – On the basis of exploratory interviews, previous Internet banking studies and relating literature, seven dimensions of IBS ranging from very practical to more hedonic are developed and explored. The users of IBS are examined by clustering them on the basis of differences in perceptions of the proposed service dimensions. Data set comprised of 300 computer‐supported interviews. Findings – The major finding is that three of the consumer clusters do not value service dimensions containing experiential features, whereas the fourth cluster, comprising mainly of youngsters, perceived those service dimensions very appealing. Practical implications – Two alternative approaches are suggested to the developing and designing IBS. The cost‐effective strategy for serving currently profitable customers is to adhere to basic IBS that they prefer. However, designing versatile and experiential IBS might prove to be lucrative investment for the future. The biggest consumer cluster comprising of youngsters, potential bank customers of tomorrow, preferred more diversified and even entertaining features. Originality/value – The study represents strategically interesting viewpoints to design and develop IBS in order to achieve optimal results in the future. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Internet Research Emerald Publishing

Clustering the consumers on the basis of their perceptions of the Internet banking services

Katariina Mäenpää
Internet Research , Volume 16 (3): 19 – May 1, 2006
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References (74)

Publisher
Emerald Publishing
Copyright
Copyright © 2006 Emerald Group Publishing Limited. All rights reserved.
ISSN
1066-2243
DOI
10.1108/10662240610673718
Publisher site
See Article on Publisher Site

Abstract

Purpose – The purpose of the paper is to explore Internet banking services (IBS), consumers availing the services and the potential development possibilities of the services in the challenging operational environment. Design/methodology/approach – On the basis of exploratory interviews, previous Internet banking studies and relating literature, seven dimensions of IBS ranging from very practical to more hedonic are developed and explored. The users of IBS are examined by clustering them on the basis of differences in perceptions of the proposed service dimensions. Data set comprised of 300 computer‐supported interviews. Findings – The major finding is that three of the consumer clusters do not value service dimensions containing experiential features, whereas the fourth cluster, comprising mainly of youngsters, perceived those service dimensions very appealing. Practical implications – Two alternative approaches are suggested to the developing and designing IBS. The cost‐effective strategy for serving currently profitable customers is to adhere to basic IBS that they prefer. However, designing versatile and experiential IBS might prove to be lucrative investment for the future. The biggest consumer cluster comprising of youngsters, potential bank customers of tomorrow, preferred more diversified and even entertaining features. Originality/value – The study represents strategically interesting viewpoints to design and develop IBS in order to achieve optimal results in the future.

Journal

Internet Research – Emerald Publishing

Published: May 1, 2006

Keywords: Internet; Electronic commerce; Banking; Consumer behaviour; Cluster analysis

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