Understanding what drives the purchase decision in pension and investment products

The aims of this paper are to first seek an understanding of consumer decision-making when purchasing pension and investment products, and second to ascertain how this decision-making affects the consumer's choice of distribution route. The study employed both focus groups and postal questionnaire survey methods based on the framework of a classical decision-making model that investigated problem recognition, information search, evaluation tools used and post-purchase. The findings show that the decision-making process experience differed to a lesser or greater degree depending on the distribution route. The majority of respondents had recognised the need to make a purchase decision long before seeking information. Younger respondents on all incomes believed that they must make some pension provision for themselves as opposed to relying on the government's retirement provision. Many changed channels for information searches, but tended to settle with the Independent Financial Adviser (IFA). The two main evaluation tools for pension and investment were found to be the ‘charges’ and ‘historic fund performance’. The vast majority of respondents reiterated their worry that the outcomes would not be known until retirement. In terms of analysis by the level of ‘financial literacy’, respondents who scored in the upper quartile were more inclined to be on a higher income, less inclined to evaluate on charges and more proactive in discussing the investment strategy of their pension fund. Respondents who scored in the lower quartile had opposite results. One of the implications of these findings is that the younger respondents’ recognition of pension savings favours the government's intention to reverse the existing balance of pension distribution. The other main implication is that the findings will be of help to managers in appreciating the dominance of the IFA channel by providing an explanation of why consumers choose this route, and, additionally, can assist direct marketing managers in identifying customers who will be more likely to use multichannel or single-channel shoppers. It can also help the marketing manager increase the usage of different channels by addressing the factors driving the purchase decision and distribution choice.

Co-production and co-creation using self-service technology: the application of service-dominant logic

Research on how customers engage in the co-creation processes envisaged by the Servicedominant logic paradigm is currently limited and even less work has been published on frameworks for organizations to manage the co-creation process. This conceptual paper examines a particular aspect of co-creation: co-production as a result of the application of self-service technology (SST). We propose a conceptual framework for co-production, which emphasizes the need to understand productivity from the point of view of the customer, and demonstrate how this can be applied in both consumer (b2c) and interorganizational(b2b) contexts. We conclude that service organizations might benefit from clearly identifying co-production with task-performance, and co-creation with the valueattributing aspects of the customer service experience. Both aspects generate a range of design and management challenges for suppliers particularly the need to understand the cocreation process 'outputs' desired by customers and the full costs of moving away from person to person interaction.

Consumers' perceptions of speciality foods and therural mail-order business

Many rural-based farm and food businesses are relatively small but successful companies. They face severe constraints in terms of finance, marketing and distribution. However, marketing food by mail order presents the opportunity for these firms to gain access to national or even international markets. The achievement of commercial success requires that these companies become marketing oriented. Thus, the critical issue for these firms is to identify the needs of existing or potential customers. The objectives of the paper are to establish a profile of the characteristics, behaviour and attitudes of mail order customers.

Dans le Noir? Eating in the dark: sensation and conviviality in a lightless place

Drawing on ethnographic interviews with customers, this paper looks at the experience of dining at Dans le Noir?, a restaurant in London where eating is carried out in complete darkness. As an exemplary gastro-tourist site within the expanding leisure economy at which sensory alterity is sought, we argue that the transformation of the usual unreflexive habits of sensing while dining offer opportunities to encounter difference and reflect upon our culturally located ways of sensing the world. In focusing upon the altered experience of apprehending space, eating and socialising in the absence of light, we contend that this dining experience offers broader suggestions about how we might reconsider the qualities and potentialities of darkness, a condition which has been historically feared and reviled in the west.

Tourist photographers and the promotion of travel: the Polytechnic Touring Association, 1888–1939

The Polytechnic Touring Association (PTA) was a London-based, originally philanthropic turned commercial travel firm whose historical origins coincided with the arrival of the Kodak camera in 1888 – thus, of popular (tourist) photography. This article examines the PTA’s changing relationship with tourist photographers, and how this influenced the company’s understanding of what role photography could play in promoting the tours, in the late nineteenth and early twenty century. This inquiry is advanced on the basis of the observation that, during this time, the PTA’s passage from viewing tourists as citizens to educate, to customers to please, paralleled the move from using photography-based images to mixed media. Such a development was certainly a response to unprecedented market demands; this article argues that it should also be considered in relation to the widening of photographic perceptions engendered by the democratization of the medium, to which the PTA responded, first as educator, then as service provider. In doing so, the article raises several questions about the shifting relationship between “high”, or established, and “low”, or emerging, forms of culture, as mass photography and the mass marketing of tourism developed.

Charabancs and Social Class in 1930s Britain

The renowned writer J. B. Priestley suggested in 1934 that the motor-coach had annihilated the old distinction between rich and poor passengers in Britain. This article considers how true this was by examining the relationship between charabancs, motor coaches and class. It shows that this important vehicle of inter-war working class mobility had a complicated relationship with class, identifying three distinct forms of this method of travel. It positions the charabanc alongside historical responses to unwelcome steamer and railway day-trippers, and examines how resorts provided separate class-based entertainment for these holidaymakers. Using the case study of a new charabancwelcoming pub, the Prospect Inn, it proposes that, in the late 1930s, some pubs were beginning to offer charabanc customers facilities that were almost the match of their middle class equivalent. Motor coaches and charabancs contributed to the process of social convergence in inter-war Britain.