Question
a. Examine if there are differences between the retirees and non-retirees perception towards the important aspect of financial services in selecting a primary financial services
a. Examine if there are differences between the retirees and non-retirees’ perception towards the important aspect of financial services in selecting a primary financial services provider. Present the outputs and briefly explain how you can assess the reliability of your analysis. Discuss differences in salient factors between the retirees and non-retirees.
b. Analyze the customers’ attitude towards their own primary financial services providers. Are there any differences between the retirees and non-retirees? Comment on their loyalty towards their financial services providers.
c. What do you think is the most likely valued factor that contribute the loyalty of retirees and non-retirees cases in selecting a primary financial services provider?
To examine the customers’ perception of Bank B as the primary financial services provider, a consultant was hired by Bank B to conduct a survey on their customers. The data covered by the survey are as followings:
Data: q1a – l
Several questions given are concerning issues customers would consider in selecting a bank as their primary financial services provider. For this, they are required to rate the important issues based on a scale from 1 (not important at all) to 5 (extremely important) are shown in the following table:
| Issue 1 | Performance of investments with this provider |
| Issue 2 | Fees and commissions charged |
| Issue 3 | Depth of products and services to meet your range of investment needs |
| Issue 4 | Ability to resolve problems |
| Issue 5 | Online services offered |
| Issue 6 | Multiple provider products to choose from |
| Issue 7 | Quality of services offered |
| Issue 8 | Knowledge of representatives or advisors you deal with |
| Issue 9 | Representatives knowing your overall situations and needs |
| Issue 10 | Access to other professional resources |
| Issue 11 | Degree to which my provider knows me |
| Issue 12 | Quality of services |
Data: q2 – q5
Several questions on likeliness of customers to show loyalty. the likeliness of the customer to recommend to other people, to continue with the bank as their primary financial services provider; and to drop or replace the bank as the primary financial services provider are also asked. [Scale: 1(unlikely) to 5 (extremely likely)]
| Aspect 1 | How likely are you to recommend primary your financial services provider to other people |
| Aspect 2 | How likely is it that you will use your primary financial services provider at least as same level as up to now? |
| Aspect 3 | How likely is it that you or your household will drop or replace the bank as the primary financial services provider? |
| Aspect 4 | How would you rate the advantage to you by using your financial services provider rather than other financial services providers? |
Data: q6a – q6l
Customers have also been asked to rate the bank as their primary financial services provider based on a scale from 1 (not important at all) to 5 (extremely important) are shown in the following table.
| Issue 1 | Performance of investments with this provider |
| Issue 2 | Fees and commissions charged |
| Issue 3 | Depth of products and services to meet your range of investment needs |
| Issue 4 | Ability to resolve problems |
| Issue 5 | Online services offered |
| Issue 6 | Multiple provider products to choose from |
| Issue 7 | Quality of services offered |
| Issue 8 | Knowledge of representatives or advisors you deal with |
| Issue 9 | Representatives knowing your overall situations and needs |
| Issue 10 | Access to other professional resources |
| Issue 11 | Degree to which my provider knows me |
| Issue 12 | Quality of services |
Other questions seek for the customers’ background are:
Data: q9. Age
Data: q10. Gender
Data: q 11. Marital Status
Data: q12. No. of dependent children
Data: q13. Other dependent household
Data: q15. Level of education
Data: q16 Retirement status
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a There are significant differences between the retirees and nonretirees perceptions of the important aspects of financial services in selecting a primary financial services provider Retirees are more ...
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Accounting
Authors: Lew Edwards, John Medlin, Keryn Chalmers, Andreas Hellmann, Claire Beattie, Jodie Maxfield, John Hoggett
9th edition
1118608224, 1118608227, 730323994, 9780730323990, 730319172, 9780730319177, 978-1118608227
