A key to marketing financial services: the right mix of products, services, channels and customers

Today’s financial service institutions have shifted from traditional face‐to‐face selling to direct marketing practices, including phone, mail, and computer technology. Consumer’s preferences toward face‐to‐face interaction versus direct means are empirically examined across 15 different financial products and services. A significant variation was found in consumer preferences across different financial products and services, and the profiles of consumers are developed based on their preferences. Implications are drawn for developing customer‐oriented marketing strategies, acknowledging customers’ differences in their preferences toward human interaction and self‐service technology.