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1 – 10 of over 4000Srinivasa Reddy N and Jayanthi Thanigan
The purpose of this paper is to examine the antecedents of customer satisfaction during mortgage purchases. Mortgage demand in the USA has reached an all-time high because of an…
Abstract
Purpose
The purpose of this paper is to examine the antecedents of customer satisfaction during mortgage purchases. Mortgage demand in the USA has reached an all-time high because of an increase in housing demand after COVID-19. Nonetheless, several customers are dissatisfied with their service providers. Customers who actively search the market gain more information about mortgage providers and use this information to define expectations for lenders. The only way there will be customer satisfaction is if lenders meet these expectations. Therefore, it is economically significant for mortgage lenders to discover the antecedents of mortgage satisfaction.
Design/methodology/approach
In this study, the partial least squares approach was used to test the hypothesis that satisfaction was influenced by objective knowledge, familiarity and search intensity among a sample of customers (n = 4,512) from the National Survey of Mortgage Originations who had purchased a mortgage in the USA between 2019 and 2020.
Findings
The results of structural modelling showed that familiarity (β = 0.23 and p = 0.01) with and knowledge (β = 0.16 and p = 0.01) of mortgages significantly affected consumer satisfaction during mortgage purchase. Search intensity (p = 0.01) mediated the relationship between knowledge, familiarity and satisfaction.
Research limitations/implications
The primary implication is that mortgage service providers should prioritise educating customers about the mortgage buying process on their websites and in person. So managers must actively assist clients in having realistic expectations. Second, mortgage companies should establish a presence on third-party mortgage comparison websites to ensure that customers actively consider alternatives, thereby increasing customer satisfaction.
Originality/value
This study is unique in being an exploratory study to examine the antecedents of mortgage satisfaction using a public data set. This study uniquely examines the National Survey of Mortgage Originations data set with partial least squares approach to examine underlying customer attitudes.
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Tina Harrison, Kathryn Waite and Phil White
Attempts to understand the consumer behaviour in the context of the pension purchase process, including the decision process and factors affecting the decision.
Abstract
Purpose
Attempts to understand the consumer behaviour in the context of the pension purchase process, including the decision process and factors affecting the decision.
Design/methodology/approach
Focus groups were conducted among manual and clerical grades of employees within a public sector organization who were members of an occupational pension scheme.
Findings
Despite the relative importance of pensions and the degree of risk associated with the purchase, the findings clearly indicate that purchasing decisions in this context are neither completely informed nor rational. The process described by focus group participants suggests “analysis by paralysis”, characterized by complexity, confusion and apathy.
Research limitations/implications
Small number of focus groups and a focus on manual and clerical grades of employment only. A larger sample and representation of other grades of employment might yield differences in decision making between different segments of the population.
Practical implications
Provides useful insights for providers of pensions in understanding the role of information, reference groups and professional advice in the marketing of pensions.
Originality/value
Addresses a key concern of government – insufficient pension provision – and helps to understand some of the barriers and challenges facing individuals in making pension decisions.
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Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange…
Abstract
Develops an original 12‐step management of technology protocol and applies it to 51 applications which range from Du Pont’s failure in Nylon to the Single Online Trade Exchange for Auto Parts procurement by GM, Ford, Daimler‐Chrysler and Renault‐Nissan. Provides many case studies with regards to the adoption of technology and describes seven chief technology officer characteristics. Discusses common errors when companies invest in technology and considers the probabilities of success. Provides 175 questions and answers to reinforce the concepts introduced. States that this substantial journal is aimed primarily at the present and potential chief technology officer to assist their survival and success in national and international markets.
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Jane Coughlan, Robert D. Macredie and Nayna Patel
The twin aims of this paper are to explore the differences in the consumption process between the traditional in‐branch and web‐based (e‐mortgage) service channels and how the…
Abstract
Purpose
The twin aims of this paper are to explore the differences in the consumption process between the traditional in‐branch and web‐based (e‐mortgage) service channels and how the differences relate to any problems identified in the electronic service environment, with respect to information search and product evaluation.
Design/methodology/approach
A process‐oriented approach comparing the two service channels (in‐branch vs e‐mortgage) was conducted in two study phases. Data from the e‐mortgage process were collected using protocol analysis with 12 first‐time buyers (FTBs) applying on a website belonging either to a hybrid or to an internet‐only bank. Results of the e‐mortgage process were mapped on to stages of the in‐branch process, which was captured by observation of six FTB mortgage interviews to determine the level of correspondence and emergent issues.
Findings
Support for the FTB in the e‐mortgage process was problematic and service provision was found to be product‐ rather than consumer‐oriented.
Practical implications
The study highlights the importance of design issues in the electronic service environment for creating confidence in the online advice and information available on home mortgages for FTBs.
Originality/value
The paper promotes increased understanding by financial service providers of the characteristics that support the consultative selling process for complex products such as mortgages and inform multichannel retailing.
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Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management…
Abstract
Index by subjects, compiled by K.G.B. Bakewell covering the following journals: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18;…
Abstract
Compiled by K.G.B. Bakewell covering the following journals published by MCB University Press: Facilities Volumes 8‐18; Journal of Property Investment & Finance Volumes 8‐18; Property Management Volumes 8‐18; Structural Survey Volumes 8‐18.
M.L.C. Herijgers and Henk L.W. Pander Maat
Complex decision-making is often supported not by single messages but by multichannel communication packages that need to be evaluated in their own right. The purpose of this…
Abstract
Purpose
Complex decision-making is often supported not by single messages but by multichannel communication packages that need to be evaluated in their own right. The purpose of this paper is to present a new analytic approach to this package evaluation task combining textual analysis, functional analysis (FA) and media synchronicity theory.
Design/methodology/approach
The authors combine textual analysis, FA and media synchronicity and demonstrate this in a single case analysis of a multichannel communication package offering mortgage information.
Findings
When applied to a mortgage communication package for consumers, the evaluation reveals significant problems concerning the contents and timing of mortgage information and the channels chosen to convey it.
Research limitations/implications
This paper outlines a new direction for evaluating multichannel consumer information, in that it does not focus on user channel preferences but on channel requirements stemming from the communicative task to be performed.
Practical implications
This paper enables designers to optimize the design of multichannel communication packages and its individual components to support customer’s decision-making processes with regards to complex products.
Social implications
Improving information to guide complex decision-making processes leads to better informed consumers.
Originality/value
Research into effective multichannel communication within marketing is in its infancy. This paper offers a new perspective by focusing on channel requirements stemming from the communicative task rather than consumers’ channel preferences.
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