Experiment examines how advertising influences bank selection by small business executives, suggesting banking industry focuses on specialized services.
Professional service providers need to equip customers with appropriate advertising information so they can make informed selection decisions. This study utilizes a factorial design experiment to examine which elements of a print advertisement have the greatest effect on small business executives when choosing and recommending a bank. The results suggest that two elements for competition in the banking industry are the amount and availability of specialized services that are targeted toward a particular segment and the provision of these services at reasonable rates.
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David M. Andrus (1994) studied this question.
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