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Article
Publication date: 30 December 2021

Emmanuel Mogaji and Nguyen Phong Nguyen

Given that managers play a crucial role in developing and deploying AI for marketing financial services, this study was aimed at better understanding their awareness…

Abstract

Purpose

Given that managers play a crucial role in developing and deploying AI for marketing financial services, this study was aimed at better understanding their awareness regarding AI and the challenges they are facing in providing the attendant technologies, as well as highlighting key stakeholders and their collaborative efforts in providing financial services.

Design/methodology/approach

Exploratory, inductive research design. The data was gathered through semi-structured interviews with 47 bank managers in both developed and developing countries, including the United Kingdom, Canada, Nigeria and Vietnam.

Findings

Managers are aware of the prospects of AI and are making efforts to address AI as a business need but find that there often exist certain challenges in accelerating AI adoption. The study also presents a conceptual framework of AI in relation to financial service marketing, which captures and highlights the interactions among the customers, banks and external stakeholders, as well as the regulators.

Research limitations/implications

Banks must understand their business objectives, the available resources and the needs of their customers. Managers should keep the ethical implications of their working relationships in mind when selecting a team or collaborating with partners. In addition, managers should be trained and assisted in comprehending AI in relation to financial services, while the regulators must be involved in the development of AI for financial service marketing. Finally, it is critical to communicate the prospects for AI to consumers.

Originality/value

This study provides empirical insight into the opportunities, prospects and challenges pertaining to the use of AI in the area of financial service marketing. It also specifically calls into question certain preconceptions regarding AI and its role in financial services, the chatbots adopted for financial service delivery and the role of marketing managers in developing AI.

Details

International Journal of Bank Marketing, vol. 40 no. 6
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 18 September 2017

Emmanuel Mogaji and Annie Danbury

The present state of the financial services industry suggests the need for banks to appeal to consumers’ emotions with the aim of improving their reputation; this study…

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Abstract

Purpose

The present state of the financial services industry suggests the need for banks to appeal to consumers’ emotions with the aim of improving their reputation; this study aims to explore how UK banks are using emotional appeals in their advertisements and how this shapes consumers’ attitudes towards their brands.

Design/methodology/approach

Qualitative and quantitative data collection and analysis in a two-stage study – Study 1 analysed the content of 1,274 UK bank advertisements to understand how the banks convey emotional appeals, whereas Study 2 elicited consumers’ perceptions of these advertising appeals and how they influenced their attitudes through semi-structured interview with 33 UK retail bank customers in London and Luton.

Findings

UK banks are using emotional appeals in their marketing communication strategies. The qualitative findings highlight the bi-dimensional nature of feelings towards the advertisements and how this relates to the brand. There is a lacklustre attitude towards the brands; there was no sense of pride in associating with any bank, even with though there are possibilities of switching; and consumers feel there is no better offer elsewhere as all banks are the same.

Practical implications

Bank brands should present distinct values about their services to the target audience, endeavour to build relationships with existing customers and reward loyalty. Importantly, financial brands need to engage in and highlight charitable activities and any corporate social responsibility as this can help to improve consumers’ attitudes as they often consider bank brands greedy and selfish.

Originality/value

Qualitative research methodology was adopted to better understand consumers’ attitudes towards UK retail bank brands.

Details

Journal of Product & Brand Management, vol. 26 no. 6
Type: Research Article
ISSN: 1061-0421

Keywords

Article
Publication date: 5 February 2018

Emmanuel Mogaji, Barbara Czarnecka and Annie Danbury

The purpose of this paper is twofold: to analyse the use of emotional appeals in business-to-business (B2B) bank advertisements and to understand business owners…

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Abstract

Purpose

The purpose of this paper is twofold: to analyse the use of emotional appeals in business-to-business (B2B) bank advertisements and to understand business owners’ perceptions of such appeals.

Design/methodology/approach

In Study 1,834 print advertisements collected from British newspapers were content analysed. In Study 2, semi-structured interviews with 17 business owners operating a business current account with a British bank were carried out.

Findings

Emotional appeals are embedded in B2B financial services advertisements, and business owners acknowledge the presence of emotional appeals; however, the perceived congruency between emotional appeal and financial services could not be established as participants reported a largely utilitarian, need- and benefit-driven decision-making process.

Research limitations/implications

Accurately measuring emotions aroused through advertisements is considered a limitation. In addition, the sample of participants considered for this research project was small and medium-sized business owners.

Practical implications

Emotional appeals should be used in conjunction with detailed rational information about financial products, as emotional appeals only arouse interest. Relationship is considered crucial in capitalising on the emotionally appealing advertisements. Customers must feel appreciated and loyalty should be rewarded.

Originality/value

The paper responds to numerous calls for more research into the role of emotional influences on the relationships in a B2B context and on the behaviour of business customers.

Details

International Journal of Bank Marketing, vol. 36 no. 1
Type: Research Article
ISSN: 0265-2323

Keywords

Content available
Article
Publication date: 8 January 2020

Barbara Czarnecka and Emmanuel Mogaji

The purpose of this paper is to examine the use of emotional appeals in advertisements for loans and explored consumers’ perceptions of advertisements featuring such…

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Abstract

Purpose

The purpose of this paper is to examine the use of emotional appeals in advertisements for loans and explored consumers’ perceptions of advertisements featuring such appeals in order to explore how emotional meanings are transferred to consumers via advertising.

Design/methodology/approach

Study 1 employed content analysis to examine the use of emotional appeals in loan advertisements. Over 2,900 editions of eight British newspapers were monitored for advertisements for loans containing emotional appeals. Study 2 employed 33 semi-structured interviews to explore consumers’ perceptions of emotional appeals in loan advertisements.

Findings

Loans were positioned as services providing relief, security and excitement. The use of negative emotional appeals such as guilt, fear and sorrow was sporadic. Loans that carried the most risk were advertised with positive emotional appeals the most frequently. Five dimensions of perceptions of emotional loan advertisements were conceptualised from the reported data in Study 2.

Originality/value

This is the first study in the UK to examine the use of emotional appeals in loan advertising and to explore consumers’ perceptions of loan advertisements featuring emotional appeals. The study identified five dimensions of perceptions of emotional appeals.

Details

International Journal of Bank Marketing, vol. 38 no. 3
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 12 August 2022

Arinze Christian Nwoba, Emmanuel Mogaji, Nadia Zahoor, Francis Donbesuur and Gazi Mahabubul Alam

Building on the social marketing theory, this study aims to examine the relationship between family units and obesity in Nigeria; and the social marketing interventions…

Abstract

Purpose

Building on the social marketing theory, this study aims to examine the relationship between family units and obesity in Nigeria; and the social marketing interventions used to reduce and prevent obesity in the Nigerian society.

Design/methodology/approach

This study adopted a semi-structured interview research design with 42 obese individuals in Nigeria.

Findings

The study findings show that the family unit an individual grows up in influences their consumption behaviour, which drives their obesity. The findings reveal that obese Nigerian citizens are willing to live a healthier lifestyle due to the direct and indirect medical costs associated with obesity. Furthermore, the findings disclose the social marketing interventions – local celebrity endorsements, healthy lifestyle promotions, reduced gym membership and affordable access to healthy foods and services – used to prevent and reduce the rising obesity rates in the Nigerian society.

Research limitations/implications

The findings have important theoretical implication given the focus on consumption behaviour and obesity.

Practical implications

The study findings provide an avenue to guide government officials, policymakers and social marketers in shaping their public policy and social marketing interventions to encourage healthier consumption and lifestyle behaviours among families and individuals in the Nigerian society.

Originality/value

To the best of the authors’ knowledge, this is the first research study to investigate how family units in the emerging market of sub-Saharan Africa drive obesity and the social marketing interventions used to reduce and prevent obesity. Theoretical and practical implications are discussed.

Details

European Journal of Marketing, vol. ahead-of-print no. ahead-of-print
Type: Research Article
ISSN: 0309-0566

Keywords

Article
Publication date: 19 May 2021

Abdulazeez Abdulquadri, Emmanuel Mogaji, Tai Anh Kieu and Nguyen Phong Nguyen

Recognising the high numbers of unbanked and financially excluded adults in Nigeria, this study aims to position chatbot as a digital transformation tool to radically…

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Abstract

Purpose

Recognising the high numbers of unbanked and financially excluded adults in Nigeria, this study aims to position chatbot as a digital transformation tool to radically change business model, improve customer experience and enhance financial inclusion in emerging markets.

Design/methodology/approach

The Search-Access-Test (S-A-T) model was adopted to understand how Nigerian banks are adopting chatbots.

Findings

A majority of Nigerian banks now have chatbots that enhance customer engagement and financial inclusion. WhatsApp was the most frequently used platform. Chatbots were often branded and presented with female gender identification. The chatbots were less responsive beyond their predefined path. While Nigeria is a multilingual country with English being the original language, none of the chatbots used any of the Nigerian’s local languages.

Practical implications

Brands need to re-evaluate their chatbots with regard to responsiveness, predefined questions, verification and privacy. There are also possibilities of branding the chatbot and developing content creation strategies for proper engagement. Beyond English, the integration of African languages into chatbot is essential for digital transformation. Digital literacy and skills, particularly in the field of science, technology, engineering and mathematics, should be supported to equip future developers and create more jobs.

Originality/value

While many theoretically based models for investigating the adoption of digital technologies have often placed focus on users’ ability to engage, this study takes an alternative perspective; by using the S-A-T model, it lays the responsibilities on the banks and chatbot developer to ensure that their chatbots are secure, responsive and able to meet the needs of the customers.

Details

Journal of Enterprising Communities: People and Places in the Global Economy, vol. 15 no. 2
Type: Research Article
ISSN: 1750-6204

Keywords

Content available
Article
Publication date: 9 March 2021

Emmanuel Mogaji, Ogechi Adeola, Robert Ebo Hinson, Nguyen Phong Nguyen, Arinze Christian Nwoba and Taiwo O. Soetan

This study aims to explore how banks in Nigeria are marketing financial services to financially vulnerable customers.

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Abstract

Purpose

This study aims to explore how banks in Nigeria are marketing financial services to financially vulnerable customers.

Design/methodology/approach

A multiple case study research strategy was used to analyse three commercial banks and two microfinance banks. Data were collected using semi-structured interviews with the banks' directors as well as from banks' published annual reports and archival images.

Findings

The study reveals that Nigerian banks develop different product development portfolios, adopt innovative traditional marketing schemes and apply inclusive technologies to reach and extend services to the unbanked and financially vulnerable customers in the society.

Research limitations/implications

Banks should focus on consumer engagement through the proactive development of technologies and employ innovative marketing methods. Customers' banking experiences can be enhanced if banks communicate with and educate customers about technological modes of engagement. In addition, financial service transaction support and financial literacy education can assist banks in marketing their services to financially vulnerable customers, in mutually beneficial ways.

Originality/value

This study shows how financial service operators' market and extend their services to financially vulnerable customers in emerging markets. It empirically establishes the importance of financial services to financially excluded customers.

Details

International Journal of Bank Marketing, vol. 39 no. 3
Type: Research Article
ISSN: 0265-2323

Keywords

Article
Publication date: 20 September 2019

Emmanuel Mogaji and Hyunsun Yoon

Prospective students are exposed to abundant choices, and they are eagerly searching for information to select the best universities for themselves. Likewise, prospectuses…

Abstract

Purpose

Prospective students are exposed to abundant choices, and they are eagerly searching for information to select the best universities for themselves. Likewise, prospectuses are regularly produced by universities to meet this information needs; the purpose of this paper is to examine the key marketing messages used in their prospectuses.

Design/methodology/approach

The 2017 undergraduate prospectuses of 121 universities in the UK (out of the 134 members of University UK) were thematically analysed using NVivo10.

Findings

Messages were predominantly about the location, the course, student experience, credibility and career progression. They are framed in an appealing way, filled with facts and figures, images of beautiful buildings and smiling students, testimonials of facilities and experiences that form a sense of compatibility and belonging.

Research limitations/implications

This study provides insights for the higher educational institutions to enhance their future marketing communications strategies in terms of effectively differentiating one university from another by highlighting the predominantly used appeals among 121 prospectuses and the need for adopting a more consistent approach between the clearing period and non-clearing period in terms of designing the prospectuses. This study has considered only the print platform, and therefore future studies should also look at social media and university websites in the context of the integrated marketing communications.

Practical implications

Accurate and coherent narratives should be provided, taking into consideration the diverse nature of target audience. Universities need to realise that they can be held responsible for the promises presented in their prospectuses. Using the city appeal by many universities may be challenging, as there is need to attract students not just to the city itself, but to the university’s campus.

Originality/value

Having a significantly larger sample than any other previous studies in this field, the empirical evidence provided in this paper is rich and in-depth, thanks to the size and age of the sample as well as the integrated and combined methodological approach. Five keys themes with sub-themes, descriptions and examples were provided, suitable for future research in higher education marketing.

Details

International Journal of Educational Management, vol. 33 no. 7
Type: Research Article
ISSN: 0951-354X

Keywords

Abstract

Details

International Journal of Bank Marketing, vol. 40 no. 6
Type: Research Article
ISSN: 0265-2323

Article
Publication date: 21 February 2022

Jaspreet Kaur, Emmanuel Mogaji, Deepti Wadera and Sangeeta Gupta

This study aims to investigate the domestic sustainable consumption practices in Indian households and the motivations to do so. These practices also contribute to…

Abstract

Purpose

This study aims to investigate the domestic sustainable consumption practices in Indian households and the motivations to do so. These practices also contribute to environment management and its impact on Indian society through the action of reusing, reducing and recycling of consumed products for two generations, namely, the Baby Boomer and the Generation Z.

Design/methodology/approach

An exploratory qualitative research was undertaken in which the data were collected through personal interview technique with 64 respondents including males and females from the generations of Baby Boomers and Generation Z of Indian households.

Findings

The theoretical framework of the 3R was extended to inculcate broader themes like awareness, action and motivation for the domestic sustainable activities. The findings conclude that the domestic sustainable consumption practices of Baby Boomers in India were far more advanced than their Generation Z counterparts. These two generations differed in their awareness sources, actions of sustainability and the motivations for undergoing the domestic sustainable activities. Managerial implications have been framed for organisations like start-ups, sustainable firms, government organisations and second-hand product vendors. These practices in such organisations could help in the enhancement of circular economy through the domestic waste disposal.

Practical implications

Practical implications are for organisations that can consider the domestic sustainability consumption practices while planning their strategies to maximise stakeholder satisfaction through their corporate social responsibility initiatives and create more goodwill and growth avenues for their businesses.

Originality/value

Where most of the past literature concentrates on the supply chain and manufacturing initiatives of sustainability or sustainable consumption, very few studies look at the angle of domestic sustainability initiative and how they could be linked to the initiative of circular economy. This paper fills this gap in past literature.

Details

Society and Business Review, vol. 17 no. 3
Type: Research Article
ISSN: 1746-5680

Keywords

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