Differences of consumer behaviour between MagNet bank and traditional bank clients

Fáy Zsombor (2021) Differences of consumer behaviour between MagNet bank and traditional bank clients. Kereskedelmi, Vendéglátóipari és Idegenforgalmi Kar.

	PDF Dissertation_Zsombor Fáy.pdf Hozzáférés joga: Csak nyilvántartásba vett egyetemi IP címekről nyitható meg Download (752kB)
	PDF eredetisegi-nyilatkozat_Fáy Zsombor.pdf Hozzáférés joga: Csak nyilvántartásba vett egyetemi IP címekről nyitható meg Download (102kB)

Absztrakt (kivonat)

For a long time, scientific consensus has viewed consumers as rational beings, even more so in case of their financial decisions. It has been proven however that the nuances of human decision making are more than a simple cost-benefit analysis, and theories about emotional and value driven behaviour, and also about the demographic and other factors impacting consumer behaviour became widespread. The social responsibility of for-profit companies have been a point of debate for decades, and the theory of value driven consumer behaviour connects to the narrative of corporate social responsibility, raising questions such as how beneficial CSR programmes are for the company, how to measure profit, and what do consumers perceive as important when choosing brands. Brands in the financial sector are in a unique position which comes with great responsibility, as information asymmetry and the lack of financial literacy in society gives them the power of knowledge over their own clients. After the 2008 financial crisis, these questions became even more important, and legislation borrowed principles from community banking. Community banking principles have its roots date back as far as ancient Greece and medieval Christianity, in the theory of natural and unnatural economical activity, Christian financial institutions aimed towards helping the poor and disadvantaged, and ethical investing. In the middle of the 20th century, a new, trailblazing movement appeared in the form of three banks. These institutions provided a unique perspective and business model, leaving a huge legacy to the world, and operating still today. In Hungary, the largest participants in the market all have CSR projects, but in the 1990s HBW express saving cooperative was founded, and in 2009-2010 the owners transformed it into the first Hungarian community bank with the new name of Magnet Bank, filling a market niche in which they are still the only contender. Based on all this history and scientific debate, it is reasonable to assume that consumer behaviour differs between MagNet and traditional bank clients in Hungary. Based on a survey with a sample size of 108, the study shows that there is indeed a measurable difference in the general and financial consumer behaviour between these two groups, MagNet clients being value driven and more conscious about their banking behaviour, while traditional bank clients stick to their habits and aim for safety. The study concludes based on the data that financial literacy improvement could benefit from the transformative effect community banks’ daily operations have on consumers’ relationship and views about money, empowering them to not only make money work for them, but for the good of society and the environment, by showing that they, in fact, can contribute towards change.

Intézmény

Budapesti Gazdasági Egyetem

Kar

Kereskedelmi, Vendéglátóipari és Idegenforgalmi Kar

Tanszék

Kereskedelem Tanszék

Tudományterület/tudományág

NEM RÉSZLETEZETT

Szak

Kereskedelem és marketing (angol nyelven)

Konzulens(ek)

Mű típusa:	diplomadolgozat (NEM RÉSZLETEZETT)
Kulcsszavak:	accounting standards, community development, Consumer behavior, CSR, sustainable consumption
SWORD Depositor:	Archive User
Felhasználói azonosító szám (ID):	Archive User
Rekord készítés dátuma:	2021. Feb. 08. 12:59
Utolsó módosítás:	2021. Feb. 08. 12:59

Actions (login required)

Tétel nézet