consumer behavior
DESCRIPTION
consumer behavior at Ramapo NJ with Professor PetkusTRANSCRIPT
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Online Banking
http://www.youtube.com/watch?v=QCxkjci-WXY
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Historical Perspective
• Started in the mid 1990’s
• Float Time
• “Check 21”
• Online Banks
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Perception
• Identity Theft
• Multi Tasking
• Experiences
• Traditional Styles
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Perception
• “Generation Y”
• Novelties
• Banks Values
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Socio-Demographic Factors
• SurveyMonkey: Online Banking– Who was Surveyed – 12 questions
Generation Age Range Year RangeGeneration Y 18-26 1982-1990Generation X 27-43 1965-1981Baby Boomers 44-62 1946-1964Gray Market 63 & Up Before 1945
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Results & Analyst
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Positive Nuetral Negative
Opinion of Online Banking
Generation Y
Generation X
Baby Boomers
Gray Market
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Results & Analyst
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5
10
15
Time Spent On The Internet Per Week Generation
YGenerationXBabyBoomersGray Market
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Results & Analyst
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Viainternet
In Person MailStatement
PersonalCheckbook
Preferred Form of Banking
Generation Y
Generation X
Baby Boomers
Gray Market
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Global Multi Cultural Factors
o Microculturles
– Microsoft Money Plus Premium for 2008
– Intuit QuickBooks
– Gift-giving
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Global Multi Cultural Factors
o Australia –Demographics
oCanada- internet safety
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Motivation
• Needs– Convenience
• Needs Online Banking Covers– Bank Balance– Transfers– Paying Bills– Information
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Values
• Cultural Values
• Consumption-Specific Values
• Product Specific Values
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Self-Concept
• Self-Concept
• Ideal Self Concept
• Social Self Concept
• Ideal Social Self
• Negative Self Concept
• Avoid Human Interaction at All Costs
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Personality
• Shy, Quite, Reserved
• Self-Conscious
• Value the Dollar
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Lifestyle
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Attitude
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Decision-Making Process
RESULT
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Suggestions and Recommendations
• Keep technology up to date
• Cut out any sort of fee related to online banking
• Make deposits online
• Quicker viewing time or for transactions and pending transactions
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Suggestions and Recommendations
• Banks could better display fees and interest
• Easy assessable fee and interest calculator on bank website
• Courses to better educate people on online safety and all online functions