2012 Awards for Excellence
Article Type: Note from the publisher From: Journal of Services Marketing, Volume 27, Issue 1
The following article was selected for this year's Outstanding Paper Award for Journal of Services Marketing
"A strategic response to the financial crisis: an empirical analysis of financial services advertising before and during the financial crisis''
Taejun (David) Lee
School of Advertising and Public Relations, University of Tennessee Knoxville, Knoxville, Tennessee, USA
Wonjun Chung
Department of Communication, University of Louisiana at Lafayette, Lafayette, Louisiana, USA
Ronald E. Taylor
School of Advertising and Public Relations, University of Tennessee Knoxville, Knoxville, Tennessee, USA
Purpose - This paper aims to investigate how the US financial services organizations (FSOs) provided marketing information and the way they strategically used various appeals through their advertising before and during the current financial crisis. - This takes the form of a content analysis examining a total of 2,480 financial services ads (FSA) in print magazines within two periods - the two years before the crisis (2005 to 2006) and the two years during the crisis (2007 to 2008). - This study showed three significant findings: because of the economic struggle, there was a significant decline across the two periods in the total number of yearly FSA; the economic crisis led to a significant increase in the use of informational message strategies across all FSOs; and financial value and atmospherics appeals were predominant after the crisis. However, each FSO used appeals in a different way. - This study focused on only print media. A future research project aimed at other traditional media such as television and new media such as the internet or weblogs could provide additional analysis of financial advertising strategies. - The findings of this study suggest that FSOs may rely much more heavily on informational than on transformational approaches during an economic crisis. The findings may provide further valuable implications for non-profit institutions and international marketers. Advertising, Financial services, Marketing strategy
Design/methodology/approach
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This article originally appeared in Volume 25 Number 3, 2011, pp. 150-64, Journal of Services Marketing
The following articles were selected for this year's Highly Commended Award
"Customer satisfaction and business performance: a firm-level analysis''
Paul Williams
Earl Naumann
This article originally appeared in Volume 25 Number 1 2011, Journal of Services Marketing
"Franchise partner selection: perspectives of franchisors and franchisees''
Maureen Brookes
Levent Altinay
This article originally appeared in Volume 25 Number 1, 2011, Journal of Services Marketing
"The consumer anger phenomena: causes and consequences''
Venessa Funches
This article originally appeared in Volume 25 Number 6, 2011, Journal of Services Marketing
Outstanding Reviewer
Dr Eric Harris
Pittsburgh State University, USA
