Cash or Card: Consumer Perceptions of Payment Modes - Scholarly ...

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8.1: Introduction 135 Chapter Eight Conclusions, Contribution and Future Research Identifying a need for more research to be conducted into payment mode effects, this thesis examined the notion that the physicality of the payment mode used to effect a transaction affects consumers’ perceptions and behaviour when purchasing products. To this end the cognitive and emotional associations that people have with payment modes were examined to ascertain if, and if they do, how these associations impact on payment mode choice and how the payment mode selected impacts on purchase behaviour. This chapter revisits the research questions introduced in Chapter 1 and shows how each of these was addressed. The theoretical, methodological, managerial and societal contributions of the research are outlined, and limitations of this present research explained. Finally, directions for future research are proposed. 8.2: Conclusion Related to the Research Questions This research set out to examine the cognitive and emotional associations that people have with payment modes and to ascertain if and how these associations impact on payment mode choice and how the payment mode selected impacts on purchase behaviour. To focus the study task, three research questions were formed: � Do the cognitive and emotional elements that people associate with cash based payment mode, differ from those associated with a debit card based payment mode? � Does the payment mode used; affect the volume, value, brands/products purchased in a single transaction? If so, how? � Is there a link between the cognitive and emotional elements that people associate with payment modes and payment mode choice?
Research Question One: Do the cognitive and emotional elements that people associate with a cash based payment mode differ from those associated with a debit card based payment mode? To address this question, a phenomenological based data collection mode was adopted and data were obtained through five focus group sessions. The data reflect participants’ unique perspective as well as those shared by the group. The focus group sessions followed nominal group techniques that captured individual perceptions via workbook tasks and projective tests and group based discussion. Results show, that for the participants in this study, the cognitive and emotional elements associated with cash and debit card modes do indeed differ. Distinct difference in emotional, responses to the payment modes include: 136 � Both forms of payment are considered acceptable � A $100 note is associated with pleasure and happiness whereas 100 dollar stored in a debit card is associated with hard work. � A $20 note is considered honest and hardworking. � A $20 note and a debit card with stored $100 are both deemed to be comfortable, dependable and easy-going. � Cash is viewed as money- a debit card- access to money. A common view of cash is that you can see it is money- it is real. � A marked reluctance to ‘break’ and thus spend a $100 note this is more marked when using it to buy low value items and items that are not considered ‘special’. No such associations with $100 stored in a debit card are reported � An expressed enjoyment when paying by cash in the context of ‘special’ purchases � The ‘Power’ factor varies in that $100 cash increase spending power, participants’ associate cash with wealth and necessary means to enjoy spending. No such associations with $100 stored in debit card were noted. Cash is associated with increased power but money in debit card is related to wasting or overspending.
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Cash or Card: Consumer Perceptions
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Chapter Four: Research Design and M
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List of Figures Figure 6.1 Sree Plo
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List of Tables Table 6.1. Explorato
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Acknowledgement The research idea i
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Abstract This study examines the co
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the payment mode selected impacts o
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Identifying the exact origin of anc
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1.5: Study Locus and Context The av
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compare participants normal or pref
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Chapter 2 provides a critical revie
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2.2: The Emergence of the Money Con
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commodity (bullion) and issued the
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2.5: Payment Mode and Purchase Beha
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and Belmont (1996) found that resta
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Households’ Spending’ run by th
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students (n=37) were also asked to
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enefit of consumption and the assoc
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associated with the purchase of ple
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A number of explanations for how pa
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2.6.5: Summary As this review of th
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Questions one and two are based on
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and label" events and occurrences,
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Thaler (1998) asserts that mental a
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If this is so then it is the transp
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The Chapter contends that the payme
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In this chapter, the methodology fo
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solid data, the issue of generalisa
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the experience. To do this requires
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as participants managed to link the
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4.4.2: Participant Selection There
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were initially examined via a test-
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set, in addition to the payment mod
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There are two major validity threat
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The Chapter commences by describing
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of all three projective tests. A fu
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However the negative thoughts diffe
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cold. It seems that money in the de
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thought the shoe (that was linked t
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Exhibit 5.6: Summary of findings $2
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denominations ($5, $10). On the oth
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Emotions (see Exhibit 5.7g) The mos
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� It is just when I can hear coin
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� I don’t feel that when I see
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Exhibit 5.7 (c) LIQUIDITY � if I
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Exhibit 5.8. Quotes for PMP Scale.
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82 Using cash to pay for purchases
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Page 99 and 100: 88 Chapter Six Development and Vali
Page 101 and 102: latent variable determines the obse
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Page 105 and 106: Exploratory Factor Analysis reveale
Page 107 and 108: 96 Table 6.2: Inter-Item and Item-t
Page 109 and 110: 98 Exhibit 6.5: 49 Item Scale in Pr
Page 111 and 112: 6.4.2: Pre-Test Two - Internal Cons
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Page 117 and 118: 6.4.6: Assessing Construct Validity
Page 119 and 120: used to measure individual construc
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Page 123 and 124: Table 6.14: Summary of Final Result
Page 125 and 126: All dimensions (Table 6.16) show AV
Page 127 and 128: 7.1: Chapter Overview 116 Chapter S
Page 129 and 130: Four product categories of househol
Page 131 and 132: Since the use of cash and debit car
Page 133 and 134: 7.4.1.2: Control Group-Test Groups
Page 135 and 136: 7.4.2: Proposition Two Evaluation T
Page 137 and 138: 126 Table 7.8: Indulgence Food Prod
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Page 141 and 142: 130 Table 7.12: Comparisons of Fact
Page 143 and 144: Proposition Two that- where consume
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Page 153 and 154: 8.4: Methodological Contribution Th
Page 155 and 156: 144 � The priming regarding the s
Page 157 and 158: it may be prudent for governments,
Page 159 and 160: Bechara, A., & Damasio, A. (2005).
Page 161 and 162: Carruthers, B., & Babb, S. (1996).
Page 163 and 164: Dohrenwend, B. P., Itzhak Levav, P.
Page 165 and 166: Garcia-Swartz, D., Hahn, W. R., & L
Page 167 and 168: Hair, J. F., Black, W. C., Babin, B
Page 169 and 170: Kassarjian, H. H. (1977). Content a
Page 171 and 172: Loix, E. Pepermans, R. Van Hove, L.
Page 173 and 174: Nielsen Research (2011, August) Nie
Page 175 and 176: Reimann & Bechara (2009) The somati
Page 177 and 178: Singh (2004) Impersonalisation of e
Page 179 and 180: Trent, J. & Smalley, G. (1992) The
Page 181 and 182: Zelizer, V. (1994). The social mean
Page 183 and 184: its usage. This in turn points out
Page 185 and 186: Adam Smith proposed that money is s
Page 187 and 188: During the 1950s, researchers began
Page 189 and 190: use of borrowed money. The introduc
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Activity Two Tick five traits/chara
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Appendix 3: Moderator Guide When pa
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important. Individual opinions and
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192 Write few sentences describing
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Appendix 5: Projective Tests- Theme
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Appendix 7: Projective Tool (Debit
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