Consultative selling in financial services: an observational study of the mortgage mediation process
Abstract
Notes that the literature on personal selling and advising on services stresses the importance of analysing the actual client‐adviser interaction process. Explores this process of interaction in a mortgage setting by observing 42 conversations between advisers and 26 clients. The exact content and characteristics of interactions were recorded and coded using a category system based on consultative selling. The results show vast differences between advisers in their selling approach. In most cases, the sequence of problem‐solving phases that advisers employed differed from those of the ideal model. Advisers generally did not probe for the wishes of clients but instead started by presenting alternative product solutions, a typical feature of a hard selling approach. Demonstrates the effectiveness of direct observation for the study of client‐server interaction in financial services.
Keywords
Citation
Verhallen, T.M.M., Greve, H. and Frambach, R.T. (1997), "Consultative selling in financial services: an observational study of the mortgage mediation process", International Journal of Bank Marketing, Vol. 15 No. 2, pp. 54-59. https://doi.org/10.1108/02652329710160466
Publisher
:MCB UP Ltd
Copyright © 1997, MCB UP Limited