Determinants of cross-buying intentions in banking services in collectivistic culture

Purpose - The purpose of this paper is to be the first to explicate the determinants of customers' cross-buying intentions in the banking services of Korea and Taiwan, and then explore the influence of cross-cultural values, such as "Collectivism", to the relationships between these d...

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Bibliographic Details
Published in:International journal of bank marketing 2012-07, Vol.30 (5), p.328-358
Main Authors: Hong, Jung-Kee, Lee, You-il
Format: Article
Language:English
Subjects:
Bank marketing
Banking
Banks in insurance
Behavior
Collectivism
Cross selling
Cultural differences
Cultural values
Culture
Customer retention
Customers
Development banks
Financial services
Influence
Life insurance
Securities markets
Service industries
Studies
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Summary:Purpose - The purpose of this paper is to be the first to explicate the determinants of customers' cross-buying intentions in the banking services of Korea and Taiwan, and then explore the influence of cross-cultural values, such as "Collectivism", to the relationships between these determinants and customers' cross-buying intentions.Design methodology approach - The authors employed a triangulation approach of structured surveys to 700 actual customers, and six interviews with professional senior managers engaged in customers' cross-buying activities of banking services in two countries - Korea and Taiwan. Confirmatory factor analysis and hierarchal multiple regression were conducted on these data using AMOS 10.1 and SPSS 12.0.Findings - "Perceived value", "Trust", "Image", and "Satisfaction" were found to be the determinants of customers' cross-buying intentions in the banking services of Korea and Taiwan, out of which "Trust" and "Satisfaction" were significantly influenced by "Collectivism". The research also confirms that, even between countries with similar level of "Collectivism", its influence can differ according to the determinants of cross-buying intentions in banking services.Originality value - The conceptual model presented in this paper could be extended and tested on customers in an "Individualistic" culture, in future research. The analysis in the research could also be further elaborated for specific segments of customers.
ISSN:0265-2323
1758-5937
DOI:10.1108/02652321211247408