Consumption Model of Financial Products among Minangkabau and Chinese in Bank Nagari, Sumatra
The purpose of the present study are first to analyze the differences in customer product preferences between Minangkabau and Chinese customers of Bank Nagari. Second, to determine factors affecting the use of Bank Nagari products among Minangkabau and Chinese customers. Third, to determine the M...
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| Format: | Thesis |
| Language: | English English |
| Published: |
2005
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| Subjects: | |
| Online Access: | http://psasir.upm.edu.my/id/eprint/6037/1/FEM_2005_9.pdf http://psasir.upm.edu.my/id/eprint/6037/ |
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| Summary: | The purpose of the present study are first to analyze the differences in customer
product preferences between Minangkabau and Chinese customers of Bank Nagari.
Second, to determine factors affecting the use of Bank Nagari products among
Minangkabau and Chinese customers. Third, to determine the Minangkabau and
Chinese consumption models. The sample size amount 216 customers consisted of
Minangkabau would amount to 162 persons and Chinese would amount to 54
persons. Systematic sampling is applied in this study as it often yields sampling error
which is smaller. Data analysis technique is use consisted of factor analysis, cluster
analysis, and logistic regression.
Results of this study indicate the characteristics of Minangkabau customers are
divided to three which are sociable (60%), supportable (30%) and friendly (10%).
Similarly, there are also three types of Chinese customers namely supportable (60%),
sociable (23%) and friendly (17%). The Minangkabau customers can be concluded as
having social characteristics that seek for sympathy and reassurance, dependable.
excited, institutes values of fun and enjoyment in life as well as warm relationships
with others. These social signal are influenced by cultural values, which have been
cultivated in the Minangkabau society. Conversely, Chinese customers assist and
coalesce with one another to reach a common target. Such nature observed among the
Chinese customers are not found in the Minangkabau customers.
The result of logistics regression test for credit and saving products show partial
significance at probability level of .050 and result of Hosmer and Lemershow
Goodnes-of-Fit test show total significance at .050. Test result of ANOVA indicates
that there is ethnic difference in the consumption of financial products. Thus, from
the ethnic graph plot there are differences of the consumption pattern of credit and
saving products. This means that Minangkabau customer have been using bank
products optimally. On the contraly the plot graph of the ethnic Chinese usage of
product is very strange. This means that Chinese customers only use credit products
to support business activities. Cultural factor, saving and credit perception very much
determine the consumption of ethnic Minangkabau and Chinese.
The result of factor analysis indicates that there are three dimensions of saving
products and three dimensions of credit products. The dimensions for saving products
are labelled SSERVQUAL- I (certain time, sympathy and reassurance, dependability,
saving service, accurate records, prompt service, willingness to help consumers,
prompt response to consumer request, trusted employees, and safe feeling),
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SSERVQUAL-2 (politeness, best interest at heart. convenient hours, up-to-date
equipment and technology, visual appeal, well dressed and neat appearance and
service type), and SSERVQUAL-3 (consumer information, adequate support,
individual attention, personal attention and consumer needs). Whereas, the
dimensions of credit products are labelled CSERVQUAL-I (certain time, sympathy
and reassurance, dependability, credit senlice. accurate records, prompt service,
willinpess to help consumers, prompt response to consumer request, trusted
employees, safe feeling, and politeness). CSERVQUAL-2 (best interest at heart,
convenient hours, up-to-date equipment and technology, visual appeal, well dressed
and neat appearance and service type), and CSERVQUAL-3 (consumer information.
adequate support, individual attention, personal attention and consumer needs).
The findings of the study can be used by Regional Development Banks, Bankers and
financial customers. It hopes to facilitate Regional Development Bank, in attaining
optimal profit. Bankers would be able to offer optimal service to its customer. This
will encourage customers to use banking products and services and provide
alternatives to customers in the use of banking services. The study could also be used
in identifying and developing relevant policies in helping the traders (especially small
traders) managing credit and savings. |
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