The impact of Digital Marketing and Promotional Strategies on attitude and purchase intention towards financial products and service: A Case of emerging economy

ABSTRACT

This paper examines the effectiveness of digital financial advertisements (DFA) in creating favorable consumer attitudes and purchase intentions toward advertised financial products and services. An internet-based survey was conducted in India with a sample of 400 individuals who watched the financial advertisements on YouTube, Facebook, etc. 347 completely filled questionnaires were received in return. Structure Equation Modeling (SEM) with AMOS software was applied to analyze the interrelationship between constructs and to validate the proposed theoretical model. The study found that the five antecedents of digital financial advertisements statistically significantly affect the perceived ease of use (PEOU) and perceived usefulness (PU). Further, PEOU and PU of the TAM model are significantly affecting the favorable attitude and the purchase intention. Further, age and gender have moderating effects. The study is unique as it proposes a theoretical model measuring the digital financial advertisement effectiveness with antecedents, constructs, and moderators. The research model is grounded on the Technology Acceptance Model (TAM) model with antecedents of PEOU and PU that measure the attitude and purchase intention towards financial products and services. This study contributes to the existing literature on a digital financial advertisement that will assist managers and strategists in framing new policies.

KEYWORDS:

• Digital advertisement
• trustworthiness
• perceived ease of use
• perceived usefulness
• emotional appeal
• rational appeal
• purchase intention

Disclosure statement

No potential conflict of interest was reported by the author(s).

Additional information

Notes on contributors

Pallavi Dogra

Pallavi Dogra has 7.6 years of experience in teaching, in addition to 2 years in research and 2 years in Industry. Her areas of interest include financial services advertisements, electronic commerce, digital marketing, and consumer behavior. She has published various papers in journals indexed by Scopus, Web of Science and ABDC rankings. Her recent publications are with ‘Journal of Promotion management’, ‘Journal of Public Affairs’; ‘Vision’ etc. She has presented various papers at national and international conferences throughout the country. She has also attended various faculty development programs and workshops related to the topic of research, teaching pedagogy, consumer behavior, advanced research tools, and techniques etc.

Arun Kaushal

Arun Kaushal has 12 years of experience in the teaching, in addition with 2 yrs in Industry. He had published various papers with journal indexed with Scopus, Web of Science, ABDC rankings. He had presented various papers in the national and international conferences throughout the country. He had also attended various faculty development program and workshop related on the topic of Supply chain management, Operations management, Strategic management etc