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

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to an exploratory factor analysis EFA (oblique rotation) then to a confirmatory factor analysis using AMOS. Stage two data analysis in addition to descriptive statistics and validity tests will employ One-Way analysis of variance (ANOVA), and t-tests. 1.7: Benefits Since the 1980s the number of payment options available to consumers have increased, however the effects of payment mode choice on consumer purchase behaviour is not well understood. So, the main academic advantage of the study is that it will add knowledge to this under-researched area in consumer research. By removing the credit (pay later) facility at the point of purchase, the effects of the electronic payment mode can be more accurately ascertained. By identifying the cognitive and emotional associations that consumers have with payment modes the study will add to our understanding of the nature of our visceral and somatic relationship with payment modes and enable a clearer picture of how payment modes affect purchase behaviour. The findings may also direct the actions of community, environment groups, government and business decisions. For example, if the use of electronic payment systems irrespective of the debit-credit factor affects judgement as to how much is spent or what is bought and/or affects money management, this has implications for lifestyles and budgeting/saving. So, awareness and educational programs designed to alert and advise consumers could be useful. Business decision makers may see a benefit in the first instance and initiate more specific investigation into product category/form and pricing effects. If no differences are found, then concerns of social commentators and environmental activists will be allayed. 1.8: Thesis Structure This chapter has presented background information surrounding payment mode use and purchase behaviour. It also explains the study rationale and what theoretical mechanisms underlie its premise. It has also discussed the research problem and the research design being used as well as contributions of the research. 9
Chapter 2 provides a critical review of prior research, highlighting areas where research is lacking or has been poorly conducted. It briefly reviews the literature pertaining to socio- psychological aspects of money and critically reviews extant literature in the area of mode of payment effects. It discusses the explanatory theories relevant to the effect of payment mode on purchase behaviour and concludes with the issues and gaps that comprise the foundation of this research. Chapter 3 offers the conceptual development of propositions examined in this study which addresses the limitations of previous studies outlined in Chapter 2. It argues for the need to ascertain the cognitive and emotional associations that people have with cash and how these associations impact on payment mode choice and behaviour. The chapter identifies pertinent conditions as well as developing and justifying propositions in the context of the research questions. Chapter 4 provides the methodology to examine the propositions developed in Chapter 3 and the logic behind decisions in this research that allows for the exploration of the research proposition. It discusses philosophical assumptions, the rationale for the choice of mixed method research design, justification of sample base, and data gathering techniques The Chapter discusses the data preparation procedures and the range of techniques used in data analysis. Chapter 5 presents and discusses the result of qualitative data analysis using Nvivo. It discusses analysis techniques, identifies and explains the codes and categories, addresses Proposition One and generates items for PPM Scale. Chapter 6 describes the development and structural validation of the psychometric measure. That is, item generation and purifications via EFA and CFA procedures are discussed and validation of scale items determined. Chapter 7 presents and discusses the detailed analyses of the quantitative data collected at the second stage and the statistical results of the study. It discusses the techniques used in data preparation, cleansing and normality test and presents preliminary analysis. Finally, examinations of the proposition developed in Chapter Three are discussed. Some key results from the analyses are summarised in the last section. Chapter 8 Conclusion and Future Research 10
Page 1 and 2: Cash or Card: Consumer Perceptions
Page 3 and 4: Chapter Four: Research Design and M
Page 5 and 6: List of Figures Figure 6.1 Sree Plo
Page 7 and 8: List of Tables Table 6.1. Explorato
Page 9 and 10: Acknowledgement The research idea i
Page 11 and 12: Abstract This study examines the co
Page 13 and 14: the payment mode selected impacts o
Page 15 and 16: Identifying the exact origin of anc
Page 17 and 18: 1.5: Study Locus and Context The av
Page 19: compare participants normal or pref
Page 23 and 24: 2.2: The Emergence of the Money Con
Page 25 and 26: commodity (bullion) and issued the
Page 27 and 28: 2.5: Payment Mode and Purchase Beha
Page 29 and 30: and Belmont (1996) found that resta
Page 31 and 32: Households’ Spending’ run by th
Page 33 and 34: students (n=37) were also asked to
Page 35 and 36: enefit of consumption and the assoc
Page 37 and 38: associated with the purchase of ple
Page 39 and 40: A number of explanations for how pa
Page 41 and 42: 2.6.5: Summary As this review of th
Page 43 and 44: Questions one and two are based on
Page 45 and 46: and label" events and occurrences,
Page 47 and 48: Thaler (1998) asserts that mental a
Page 49 and 50: If this is so then it is the transp
Page 51 and 52: The Chapter contends that the payme
Page 53 and 54: In this chapter, the methodology fo
Page 55 and 56: solid data, the issue of generalisa
Page 57 and 58: the experience. To do this requires
Page 59 and 60: as participants managed to link the
Page 61 and 62: 4.4.2: Participant Selection There
Page 63 and 64: were initially examined via a test-
Page 65 and 66: set, in addition to the payment mod
Page 67 and 68: There are two major validity threat
Page 69 and 70: 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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84 Using a debit card to pay for tr
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` 86 If I had a $20 note in my wall
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88 Chapter Six Development and Vali
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latent variable determines the obse
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oot (sqrt) was applied to normalize
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Exploratory Factor Analysis reveale
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96 Table 6.2: Inter-Item and Item-t
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98 Exhibit 6.5: 49 Item Scale in Pr
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6.4.2: Pre-Test Two - Internal Cons
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The 45 items were examined to facto
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6.4.4: Pre Test Two - Final Factor
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6.4.6: Assessing Construct Validity
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used to measure individual construc
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110 Exhibit 6.9: Pre-Test Items Rem
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Table 6.14: Summary of Final Result
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All dimensions (Table 6.16) show AV
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7.1: Chapter Overview 116 Chapter S
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Four product categories of househol
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Since the use of cash and debit car
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7.4.1.2: Control Group-Test Groups
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7.4.2: Proposition Two Evaluation T
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126 Table 7.8: Indulgence Food Prod
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128 Exhibit 7.2: Proposition Two: E
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130 Table 7.12: Comparisons of Fact
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Proposition Two that- where consume
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Table 7.13: Mean Item Score: Field
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Research Question One: Do the cogni
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token is used, perceptions and beha
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would spend it on something special
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8.4: Methodological Contribution Th
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144 � The priming regarding the s
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it may be prudent for governments,
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Bechara, A., & Damasio, A. (2005).
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Carruthers, B., & Babb, S. (1996).
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Dohrenwend, B. P., Itzhak Levav, P.
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Garcia-Swartz, D., Hahn, W. R., & L
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Hair, J. F., Black, W. C., Babin, B
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Kassarjian, H. H. (1977). Content a
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Loix, E. Pepermans, R. Van Hove, L.
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Nielsen Research (2011, August) Nie
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Reimann & Bechara (2009) The somati
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Singh (2004) Impersonalisation of e
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Trent, J. & Smalley, G. (1992) The
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Zelizer, V. (1994). The social mean
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its usage. This in turn points out
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Adam Smith proposed that money is s
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During the 1950s, researchers began
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use of borrowed money. The introduc
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Appendix 2: Projective Tasks- Workb
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TASK THREE For this activity you wi
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TASK SIX Shopping experience using
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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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