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Personal acquaintances and salespeople in financial services: differences between customers and friends
Luleå University of Technology, Department of Business Administration, Technology and Social Sciences, Business Administration and Industrial Engineering.
Simon Fraser University, Vancouver.
Simon Fraser University, Vancouver.
University of the Witwatersrand.
2009 (English)In: Journal of Financial Services Marketing, ISSN 1363-0539, E-ISSN 1479-1846, Vol. 14, no 1, p. 26-39Article in journal (Refereed) Published
Abstract [en]

The existence, benefit and management of customer-salesperson relationships in the marketing of financial services are topics of increasing interest. Much of the sales and marketing literature implies that because of time spent together, salespeople and some of their customers develop close relationships that are akin to friendships. Evidence from social psychology confirms that strong relationships are founded in deep knowledge of others gained over long periods after sharing personal information. This paper reports on the results of a study of salespeople's assessments of their personal acquaintance with customers and friends in a financial services setting. The results indicate that salespeople do not classify customers as friends on all the dimensions of personal acquaintance. Furthermore, the nature of personal acquaintance differs between 'good' customers (those salespeople enjoy serving), and 'bad' (those they do not), with the exception of the personal acquaintance dimensions of interaction frequency and personal disclosure. We discuss the implications for practice and make recommendations for future research

Abstract [en]

The existence, benefit and management of customer-salesperson relationships in the marketing of financial services are topics of increasing interest. Much of the sales and marketing literature implies that because of time spent together, salespeople and some of their customers develop close relationships that are akin to friendships. Evidence from social psychology confirms that strong relationships are founded in deep knowledge of others gained over long periods after sharing personal information. This paper reports on the results of a study of salespeople's assessments of their personal acquaintance with customers and friends in a financial services setting. The results indicate that salespeople do not classify customers as friends on all the dimensions of personal acquaintance. Furthermore, the nature of personal acquaintance differs between 'good' customers (those salespeople enjoy serving), and 'bad' (those they do not), with the exception of the personal acquaintance dimensions of interaction frequency and personal disclosure. We discuss the implications for practice and make recommendations for future research Udgivelsesdato: 2009

Place, publisher, year, edition, pages
2009. Vol. 14, no 1, p. 26-39
National Category
Business Administration
Research subject
Industrial Marketing
Identifiers
URN: urn:nbn:se:ltu:diva-6406DOI: 10.1057/fsm.2009.5Local ID: 4a1600a0-e4d0-11de-bae5-000ea68e967bOAI: oai:DiVA.org:ltu-6406DiVA, id: diva2:979291
Note
Validerad; 2009; 20091209 (larsbm)Available from: 2016-09-29 Created: 2016-09-29 Last updated: 2017-11-24Bibliographically approved

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Bäckström, Lars

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