Trust And Commitment As Mediators Of The Relationship Between Quality Advice And Customer Loyalty

Insurance agents globally struggle with clients who do not understand the importance of disciplined savings and of meeting with them at least once a year to make necessary adjustments to their financial plans. The purpose of the study was to provide assistance to these agents and explore trust and commitment as mediators of the relationship between quality advice and customer loyalty. The context of the study was clients of independent insurance agents (N=242), and self-administered surveys were used to test the research hypotheses formulated. It appears imperative for insurance agents providing clients with quality advice to focus strongly on building trust and commitment. These mediating variables contribute to a 27% change in the adjusted R² value, and resulted in a much higher R² value of 0.77 in the final model. The findings of the study could also assist larger organisations focusing on consultative selling practices and help them create solid client relationships with the potential to deliver great profit.

A survival and sales growth framework for independent financial advisers

Independent financial advisers have to address different problems as they pro¬gress through the life cycle stages of their businesses. A number of researchers, however, are of the opinion that small business owners do not have the ability to manage the growth-related transitions effectively. It appears that additional guidance is needed to assist independent financial advisers with the survival and growth of their small businesses. Until now, only a small amount of research has been conducted in this area and no formal research study has proposed a marketing mix framework for these advisers, portraying the various factors threatening their survival and growth in their organisational life cycle, as well as the various marketing mix strategies that can be implemented to proactively manage the problems and help generate sales growth. The objective of this study was to propose such a framework to offer additional assistance for business survival and sales growth. This study was exploratory in nature and commenced with a comprehensive lit¬erature investigation to gain the necessary background to support the empirical part of the study. Different opinions and studies were presented and evaluated, which led to the identification of a general business life cycle model as well as a number of problems and marketing mix solutions that could potentially occur in each life cycle stage. These literature findings were then further investigated among independent financial advisers by means of telephone and personal interviews. Following the empirical findings, the recommended framework suggests that independent financial advisers may experience three types of problems in their businesses: critical problems, important problems and problems that only need consideration. Independent financial advisers can use four groups of recom¬mended marketing mix strategies to address these problems. There are also four groups of recommended marketing mix strategies that can assist these advisers to grow their sales (commission). These advisers would, however, need to ensure that they are aware of and understand the various environmental factors that can hinder the successful implementation of the marketing mix strategies. They also need to be able to use the recommended counterstrategies to address the environmental factors. Ultimately, the successful implementation of the recommended marketing mix strategies could then help independent financial advisers to grow their businesses and progress to a more advanced life cycle stage.Thesis (DCom)--University of Pretoria, 2010.Marketing ManagementDComUnrestricte

A Theoretical Framework For Managing CSR Plans And Related Initiatives In The Modern Business Environment

Organisations can make a valuable contribution in alleviating poverty and improving the general living standards of society. In the modern turbulent business environment, characterised by intense competition and customers demanding corporate responsibility, it further seems that a well-managed corporate social responsibility (CSR) plan could assist executives in winning the hearts and minds of their customers. Regular interactions with stakeholders on CSR initiatives can also assist executives in identifying trends in the market and introducing innovations. CSR can further be used as a strategic tool to manage the reputation of the organisation. Consequently, the purpose of this paper is to provide a theoretical framework on guidelines that organisations could implement to manage their CSR plans and CSR-related initiatives more effectively. A number of secondary sources, including textbooks and previous research studies, were consulted in compiling the proposed framework which includes actions that executives could take to design and implement their CSR plans more effectively. In addition, principles for the effective management of CSR-driven innovations and reputation management initiatives are also provided. The framework also focuses on guidelines for the types of social media initiatives that would need to be incorporated into the executive’s strategic plan to ensure that the strategy implemented is truly competitive. The paper concludes with a number of recommendations that could be further investigated in a follow-on empirical study to provide further assistance to organisations wishing to survive and grow their businesses in the modern turbulent business environment. The paper is relevant to executives requiring guidance on implementing their CSR initiatives more successfully and contributes to the improvement of organisational behaviour within the socially responsible environment

The factors influencing buyer behaviour of single working women when purchasing financial products or services: an exploratory study

The number of single working women in Gauteng constitutes a viable market for financial companies in South Africa. However, the question arises whether companies in South Africa are adequately pursuing the single working women market. Various factors may influence a woman’s decision to purchase a financial product. Knowledge about these factors may help financial companies to more actively pursue the women market. Consequently, this study investigated the factors, which would influence women’s decisions to purchase financial products. The primary objective of this study was to investigate the factors influencing buyer behaviour of single working women, when purchasing financial products or services. Some of the secondary objectives included in this study pertained to the perception of single working women in Gauteng regarding their relationships with their financial advisers, as well as the evaluation of the values and needs of the existing women market pertaining to financial products and services directed towards them. This research study is exploratory in nature, to gain insight into the research problem. An extensive investigation into the relevant literature was done. An empirical study was also conducted and the measuring instrument consisted of a self-administered questionnaire. The population selected consisted of existing clients of four major financial companies in South Africa. The major findings included: women will continue to search for more information than the advice provided by the service provider, regardless of whether the respondents trust or do not trust future recommendations made by their service providers; the majority of the respondents will only sometimes or not at all relate to parental advice, when forming an opinion regarding financial service; and the attribute most important to the respondents was the financial adviser’s reliability when providing advice. Four main conclusions were drawn, namely: the roles portrayed by women in financial advertisements do affect their decision-making; financial companies should focus on improving their business relationships with the respondents to establish complete trust; financial companies have not created loyal customers with their relationship marketing strategies; and the respondents have an objective approach regarding financial purchasing and no longer live in their parents’ shadow. It was, inter alia, recommended that financial companies in South Africa should analyse the preferences of their target groups, before they advertise to them and that they should determine women’s perception of what constitutes complete trust. Financial companies should also be aware of what the customers need and want, in order to design effective relationship marketing strategies. The companies will have to make use of the respondents’ role models (which do not include parents) in their strategies, as the respondents will strongly relate to them and will accept the role models’ opinions as their own. Based on the recommendations, the research study concludes with various hypotheses, which provide direction for future research.Dissertation (MCom)--University of Pretoria, 2005.Marketing ManagementMComUnrestricte

Differences in Consumers’ Green Consumption Mindsets and Behavior Across South Africa, South Korea and the United States Based upon Measures of Hofstede’s Cultural Dimensions Theory

Samples of 513 South African consumers, 292 South Korean consumers, and 938 consumers in the United States were drawn using identical, but appropriately translated, questionnaires. The data collection instrument addressed a number of psychographic considerations germane to consumption – and anti-consumption – decisions. Using the index scores from Hofstede’s Theory of Cultural Dimensions as bases for differentiating among the three countries, meaningful differences related to issues germane to sustainability were identified. The three cultural dimensions used for comparative purposes were individualism (versus collectivism), indulgence (versus restraint) and long-term (versus short-term) orientation. Differences were documented for all eight of the sustainability-related phenomena under scrutiny. The results are significant for academicians who seek to teach and for practitioners who seek to operationalize differentiated marketing strategies on a global basis

A Comparison of the Green Mindset and An Array of Green Customer Citizenship Behaviours of Adult Residents in South Africa and the United States

Independent samples of 513 South African and 938 American consumers responded to an invitation-only, Internet-based survey that captured behavioural and attitudinal data regarding five constructs germane to customer citizenship. The five constructs were green mindset, anti-consumption behaviour, consumer coaching, green advocacy, and customer helping behaviour. Multi-item scales for all five constructs that had been shown to produce a high degree of reliability in prior research were gleaned from the literature. Results from South Africa and the United States were compared. High degrees of reliability were in evidence for each scale in each country. A comparison of the mean scores documented statistically significant differences between the two countries for all five scales. For each scale, the results from South Africa produced a higher mean than that which was in evidence in the sample of residents of the United States. These results imply that the South Africans tend to possess a stronger green disposition (attitude) while also embracing and engaging in anti-consumption behaviour, green advocacy, consumer coaching, and customer helping (behaviours) more so do their American counterparts

Factors Impacting One’s Self-Classification into One of the Five Categories of a Typology Delineating Green (and not so Green) Consumers

A sample of 1,243 adult residents of the United States provided insight into an array of issues germane to sustainability. Upon completing a 65-question survey on sustainability, each respondent placed themselves in an eco-group that they felt best corresponded to their own behavior and attitudes towards the task of keeping the planet green for ourselves, and perhaps more importantly, for our posterity. The five groups ranged from the eco-destroyer to the eco-warrior. Within the survey, each respondent provided their opinions regarding seven multi-item scales that primarily addressed green issues; some scales addressed business behavior while others addressed issues such as their own personal affinity towards nature, their green opinions, and their role as a vocal advocate of green initiatives. One-way ANOVA coupled with the Scheffé Method of Multiple Comparisons identified differences in the mean scores for the seven multi-item scales across the five eco-groups. Discriminant analysis was used to further determine which of the scales played significant roles in the task of differentiating among the five groups

Factors Impacting One’s Self-Classification into One of the Five Categories of a Typology Delineating Green (and not so Green) Consumers

A sample of 1,243 adult residents of the United States provided insight into an array of issues germane to sustainability. Upon completing a 65-question survey on sustainability, each respondent placed themselves in an eco-group that they felt best corresponded to their own behavior and attitudes towards the task of keeping the planet green for ourselves, and perhaps more importantly, for our posterity. The five groups ranged from the eco-destroyer to the eco-warrior. Within the survey, each respondent provided their opinions regarding seven multi-item scales that primarily addressed green issues; some scales addressed business behavior while others addressed issues such as their own personal affinity towards nature, their green opinions, and their role as a vocal advocate of green initiatives. One-way ANOVA coupled with the Scheffé Method of Multiple Comparisons identified differences in the mean scores for the seven multi-item scales across the five eco-groups. Discriminant analysis was used to further determine which of the scales played significant roles in the task of differentiating among the five groups

Management Guidelines For Universal Quality Challenges Across The Focus Group Research Process

The general misuse of the focus group method may have quality implications for decision-making processes of organisations across the industry spectrum and for further research. To assist in addressing the problem, this study sought to uncover the challenges that impede the quality of the focus group research process and develop a set of management guidelines for redress by stakeholder organisations. The population of interest for the study consisted of all South African organisations that supply or use marketing research information generated through the use of focus groups.  The empirical part of the research study comprised of both a qualitative and a quantitative phase. A CATI approach was used for data collection and the research method employed for the study was a questionnaire survey. An ordinal, 5-point Likert scale was used to measure the responses in the study.  The Pearson chi-square test was also employed to compare the research quality perceptions of research suppliers and users within the focus group process. The findings revealed numerous instances of similarities between research suppliers and users regarding their views on focus group research and the quality challenges thereof. Following the research findings, a number of management guidelines were developed that research practitioners could employ to improve the standard of focus group research in South Africa

Patient Satisfaction Measurement For In-Hospital Services Delivered By Nurses: Guidelines For Improving Practice In Africa

Hospitals in developing countries in Africa cannot focus on improving only the technological and operational side of their service offering in trying to adhere to the stipulations of the World Health Organization. To truly become competitive and remain viable over the long term, hospitals would also need to attend to their services marketing strategies and ensure that the level of patient service offered is of high quality. Consequently, the primary objective of the research reflected in this article was to explore the level of service provided by the nursing staff at the military hospital in Libreville, Gabon, with regard to the variables of reliability, responsiveness, assurance and empathy. The military hospital has been very successful in attracting more patients, and their achievements could provide valuable guidance to other hospitals on the African continent to improve their practices. The population was defined as all existing patients of the military hospital in Gabon. A systematic probability sampling technique was applied and self-administered questionnaires were distributed to the patients once they had signed the released form. The findings revealed that, in respect of the level of service experienced, the nurses were more successful in addressing the empathy and assurance dimensions of service quality than the responsiveness and reliability dimensions. Overall, though, it seems that all the dimensions measured in the study were adequately addressed by the nurses. By incorporating these dimensions into their services marketing strategies, hospitals in Africa could benefit from improved service quality, patient loyalty, market share, and profit