Financial Services Marketing Essay Sample，
Managing perceived risk for credit card purchase through supplementary services
Journal of Financial Services Marketing
INTRODUCTION
Services are intangible dominant products
that cannot be physically possessed. This very
nature of services is represented through
unique characteristics of services, viz.,
intangibility, inseparability of production and
consumption, heterogeneity, perishability and
lack of ownership. 1,2 Further, the traditional
four P marketing-mix is also augmented for
services with the addition of three more Ps
— people, physical evidence and the process. 3
Within the existing literature of services,
efforts have been put forth to understand the
role of all Ps with a vast scope to explore
further. The present study focuses on
understanding the role of supplementary
services (component of fi rst P — Service
Product of the marketing-mix) towards
reducing / managing perceived risk in the
purchase of credit card services in India.
Credit cards come under the umbrella of
fi nancial services. While fi nancial services are
similar to other services in respect of a
common knowledge base, they are considered
relatively complex in nature in comparison to
other services. This is due to the nature of
fi nancial services that are not only intangible
Managing perceived risk for
credit card purchase through
supplementary services
Received (in revised form): 24th July, 2007
Anita Goyal
is presently working as Associate Professor (Marketing) at Management Development Institute, Gurgaon, India. She has 12 years of
experience in academics after being a year in industry. She has an MBA in Marketing Management from University of Poona, India, and
a PhD in Services Marketing and Consumer Behaviour from Jamia Millia Islamia, New Delhi, India. She has exposure of teaching and
supervising projects at the international level. MDI, Gurgaon, where she is presently working, is a renowned B School getting a consistent
ranking among the top fi ve league in India.http://www.szdhsjt.com/liuxuezuoyedaixie/xinxilanzuoye/
Abstract The present study aims to understand the signifi cance of supplementary services
as nonpersonal sources of information to consumers to handle perceived risk associated with
the purchase of credit card services. The impact of supplementary services is particularly
studied towards functional risk and psychological risk. The study is based on primary data
collected by a survey with the help of a questionnaire administered through personal
interviews. It is found that supplementary services can play a signifi cant role in controlling |
