Open Access
Subscription Access
Open Access
Subscription Access
Customer Preferences for Home Loans
Subscribe/Renew Journal
Determining customer preferences ahead of time provides competitive advantage, avoids unnecessary spending, and helps quickly establish a solid following. Discovering customer preferences enables the banks to sell its services in advance and use the collected information to make its services perfect before placing it on the open market and develop an effective long-term marketing plan to get mileage. In the present study the data has been collected from 200 respondents and analyzed with the help of Factor Analysis and ANOVA. The findings reveal that the customer preferences for home loans is affected by customers' friendly environment, processing and disbursing, rate of interest, payment terms and conditions, and freebies offered by the banks. To see whether there is any significant difference among these factors affecting customer preferences for home loans, the data was further analyzed according to demographic variables viz. occupation and income.
Keywords
Home Loans, Customer Preferences, Rate of Interest, Banks, And Services
Subscription
Login to verify subscription
User
Font Size
Information
- Bernstein, D. P. (2008). Home Equity Loans and Private Mortgage Insurance: Recent Trends & Potential Implications. Retrieved from http://ssrn.com/ abstract=1277353.
- Black, H. A., Robinson, B., Schlottmann, A. M., & Schweitzer, R. L. (2003). Is Race an Important Factor in Bank-Consumer Preference? The Case of Mortgage Lending. Journal of Real Estate Finance and Economics, 26(1), pp. 5-26.
- Boyd, W. L., Leonard, M., & White, C. (1994). Customer Preferences for Financial Services: An Analysis. International Journal of Bank Marketing, 12(1), pp. 9-15.
- Breslaw, J., Irvine, I., & Rahman, A. (1996). Instrument Choice: The Demand for Mortgages in Canada. Journal of Urban Economics, 39(3), pp. 282-302.
- Clarkson, A. H., Stone, M. A., & Steele, M. J. (1990). Competitive Strategies in Banking Services-Implications of Segmentation Analysis of Consumers by Age Groups. International Journal of Service Industry Management, 1(2), pp. 67-77.
- Devlin, J. F. (2002). An Analysis of Choice Criteria in the Home loans Market. International Journal of Bank Marketing, 20(5), pp. 212-226.
- Harrison, T. S. (1994). Mapping Customer Segments for Personal Financial Services. International Journal of Bank Marketing, 12(8), pp. 17-25.
- Lee, J., & Marlowe, J. (2003). How Consumers Choose A Financial Institution: Decision Making Criteria and Heuristics. International Journal of Bank Marketing, 21(2), pp. 53-7.
- Meidan, A. (1996). Marketing Financial Services. London: Macmillan Press Ltd.
- Mylonakis, J. (2007). A Research Study of Customer Preferences in the Home Loans Market: The Mortgage Experience of Greek Bank Customers. International Research Journal of Finance and Economics, (10).
- Ojha, J. (1987). Productivity and Profi tability of Public Sector Banks in India: An International Comparison. State Bank of India Monthly Review, July, 16(7), pp. 333-348.
- Quazi, A. M., & O’Brien, B. (2000). An Empirical Test of a Cross-National Model of Corporate Social Responsibility. Journal of Business Ethics, 25(1), pp. 33-51.
- Rechards, R. (2011). Factors Affecting Consumer Preference. Retrieved from www.ehow.co.uk/into.
- Stafford, M. R. (1996). Demographic Discriminators of Service Quality in the Banking Industry. The Journal of Services Marketing, 10(4), pp. 6-12.
- Talaga, J. A., & Buch, J. (1988). Consumer Trade offs Among Mortgage Instrument Variables. International Journal of Bank Marketing, 16(6), pp. 264-270.
Abstract Views: 684
PDF Views: 4