The purpose of this study is to empirically examine and compare the effects of bankers’ customer knowledge and product knowledge on client satisfaction, trust, positive word of mouth and purchase intentions in the financial services industry.
This study investigated real-life buyer–seller dyads involving 402 bankers and 697 clients. Structural equation modeling was used for data analysis to test the proposed model.
In the client sample, bankers’ client knowledge demonstrated a stronger effect on client satisfaction and trust than product knowledge. In the banker sample, product knowledge had a stronger impact on client trust than client knowledge. In both samples, client satisfaction had a stronger effect on both positive word of mouth and purchase intentions than client trust.
Managers should consider client knowledge and human relations skills as major factors in their personnel selection and training strategies. At the marketing management level, it is suggested that policies and decisions of financial institutions must favor an in-depth understanding and sharing of knowledge of clients.
To the best of the author’s knowledge, this study is one of the first research to empirically compare the effects of bankers’ client knowledge and product knowledge, from both the client and banker perspectives. Although salesperson knowledge of customers has been assumed to be a key element of the marketing concept, it has received little attention despite its high managerial relevance.
