Attitude Towards Credit Card And Financial Awareness - Dissertation Example

Research has indicated that there are three potential influences that will impact the credit card behavioural patterns of Chinese university students: financial awareness, attitude and social demographics. Chinese society is borne of long-standing cultural values related to the Confucian era, in which hedonistic self-gratification is present, where collectivist values are nurtured and respected, and where social in-group affiliation and reputation protection are considered important constructs of the Chinese lifestyle.

Hence, there is ample evidence using the theory of conspicuous consumption that Chinese university students might be adopting or increasing their frequency of credit card utilisation to gain important social opinion. Because the market is not in a stage of growth, but has become stagnated, business leaders need to know how to best target consumer segments and gain more profitability opportunities. The findings from the study provided a foundation for recommendations on how to improve business strategy develop for more effective strategic plans to gain university student interest and engagement with credit cards.

Further implications from the study include how to build more effective marketing by credit card providers and how to potentially enhance education at the university to provide more financial responsibility and.By focusing on what actually drives existing sentiment about credit cards and the specific socio-psychological factors impact behaviors, utilizing qualitative research methodology, it will give a more concrete lesson about what factors influence and motivate credit card adoption and utilization patterns.

This research project fulfilled all of its objectives, identifying the potential relevance of financial awareness, attitude and social demographics on the credit card behavior of university students. Though not all assertions and contentions provided in the literature review were supported, there were many factors related to university student credit card behaviors that create opportunities for new business model development that can better improve the competitive and revenue positions of credit card companies and banking institutions that offer credit card services.

This project provided a new series of understandings about the relevance of social demographics, the tangible irrelevance of financial awareness and the strong relevance of attitude that could serve as a standard for marketing research practice and credit card policy development that could be better geared for exploiting market opportunities with male and female university students. Businesses that offer credit services should be aware of the identified predictors of certain credit card behaviors in the university student market segment in China in order to provide more relevant offerings and insulate the business from potential risks.