6   Understanding the financial services consumer

Learning objectives

At the end of this chapter you should:

•  understand the factors that influence consumer decision-making in financial services;

•  be aware of the ways in which financial services providers can influence the buying process;

•  be aware of the differences between final consumers and business consumers in relation to financial services;

•  understand some of the ways in which behavioural economics can help the understanding of consumer decision-making and policy formulation.

6.1 Introduction

Understanding consumers and specifically, their needs, their expectations and their responses to marketing activity is central to effective marketing. Looking through the contents list ...

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