An empirical investigation into the alternative strategies to implement the elimination of financial services |
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Authors: | Paraskevas C Argouslidis |
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Institution: | Athens Laboratory of Research in Marketing (A.L.A.R.M.), Department of Marketing and Communications, Athens University of Economics and Business, 76 Patision Street, 104-34 Athens, Greece |
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Abstract: | This paper examines the strategies that financial institutions use in order to implement the elimination of financial services. Through 20 in-depth interviews with managers of British banks, insurance companies and building societies, a set of ten alternative elimination strategies was identified. A mail survey (with a stratified random sample of 112 British financial institutions) indicated that the predominant strategy is to eliminate a financial service from new customers, while leaving its existing users unconditionally unaffected. However, the results revealed that the applicability of alternative elimination strategies is situation-specific, since it varies in relation to the degree of market orientation of a financial institution, to the intensity of market competition, to the austerity of the legislative environment and to the rhythm of technological change. |
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