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Referral reward programs with scarcity messages on bank credit card adoption

Chanho Song (Department of Marketing, California State University San Bernardino, San Bernardino, California, USA)
Tuo Wang (Department of Marketing and Entrepreneurship, Kent State University, Kent, Ohio, USA)
Michael Y. Hu (Department of Marketing and Entrepreneurship, Kent State University, Kent, Ohio, USA)

International Journal of Bank Marketing

ISSN: 0265-2323

Article publication date: 28 February 2019

Issue publication date: 18 March 2019

451

Abstract

Purpose

The purpose of this paper is to investigate how referral reward programs (RRPs) with scarcity messages influence consumer’ recommendation behavioral intentions about a bank credit card.

Design/methodology/approach

In total, 1,599 consumers are accessed through Amazon’s Mechanical Turk worker panel. The authors use general linear models, analysis of variance and analysis of covariance to test the proposed hypotheses.

Findings

The results showed that offering RRPs with scarcity messages increases a consumer’s behavioral intentions to recommend. The limited-quantity message in RRPs has the highest positive impact on consumers’ behavioral intentions.

Originality/value

No prior studies have addressed the relationship between referral rewards and scarcity messages in the bank credit card context. The study contributes to the understanding of the effectiveness of RRPs with scarcity message in improving consumer’s referral.

Keywords

Citation

Song, C., Wang, T. and Hu, M.Y. (2019), "Referral reward programs with scarcity messages on bank credit card adoption", International Journal of Bank Marketing, Vol. 37 No. 2, pp. 531-544. https://doi.org/10.1108/IJBM-12-2017-0260

Publisher

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Emerald Publishing Limited

Copyright © 2019, Emerald Publishing Limited

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