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Selling financial services: the effect of consumer product knowledge and salesperson commission on consumer suspicion and intentions

Selling financial services: the effect of consumer product knowledge and salesperson commission... This research examines how consumers’ subjective product knowledge affects the way they interpret salesperson compensation within the financial services industry. Data from a nationwide panel of consumers show that higher product knowledge consumers become highly suspicious and lower purchase intentions when salesperson commission rates fall outside of the latitude of acceptance (Study 1). Study 2 results, however, demonstrate a reversal of these effects by showing that compensation–recommendation consistency is an important moderator in financial salesperson interactions. In addition, the study describes boundaries of the suspicious mindset that underlies consumer responses to sales information. Theoretical and practical implications of the finding are discussed, as are future research directions. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of the Academy of Marketing Science Springer Journals

Selling financial services: the effect of consumer product knowledge and salesperson commission on consumer suspicion and intentions

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References (55)

Publisher
Springer Journals
Copyright
Copyright © 2012 by Academy of Marketing Science
Subject
Economics / Management Science; Business/Management Science, general; Marketing; Social Sciences, general
ISSN
0092-0703
eISSN
1552-7824
DOI
10.1007/s11747-012-0319-0
Publisher site
See Article on Publisher Site

Abstract

This research examines how consumers’ subjective product knowledge affects the way they interpret salesperson compensation within the financial services industry. Data from a nationwide panel of consumers show that higher product knowledge consumers become highly suspicious and lower purchase intentions when salesperson commission rates fall outside of the latitude of acceptance (Study 1). Study 2 results, however, demonstrate a reversal of these effects by showing that compensation–recommendation consistency is an important moderator in financial salesperson interactions. In addition, the study describes boundaries of the suspicious mindset that underlies consumer responses to sales information. Theoretical and practical implications of the finding are discussed, as are future research directions.

Journal

Journal of the Academy of Marketing ScienceSpringer Journals

Published: Oct 26, 2012

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