Recently, I was talking to one of my colleagues who was mis-sold his mobile phone contract. Interestingly enough, I stumbled across a research carried out by the Financial Services Authority (FSA) in the UK which suggested that more than 9% of all consumers were mis-sold products or services in recent past. Several questions emerged in [...]
As stated in my earlier post ‘antecedents to consumer confusion‘, I shall focus on consequences of consumer confusion in this post. The earlier post focused on three important antecedents to consumer confusion namely; expectations, attribute confusion and information confusion in the context of financial services industry (i.e. banks, insurance. credit card, mortgage and other such [...]
Listen to the podcast on the ‘antecedents to consumer confusion’. The original article can be found here: Antecedents to consumer confusion in financial services industry This being my first podcast I would really appreciate any feedback on this.
It is only the later part of the 20th century financial services institutions (FSIs) started morphing into a different shape altogether. Previously, a bank provided only banking services (i.e. mostly a place where you can deposit and withdraw money or similar assets). However, banks changed their role in a short span of time from consumer [...]