| The purpose of this study was to investigate the social influence theory in a meaningful way and determine whether the theory could be generalized to situations involving individuals' selections of banking institutions. The research examined the individuals' perceptions of social influence from family, friends/peers, and mass media. The research also examined the differences among wealthy and non-wealthy individuals' perceptions of influence from family, friends/peers, and mass media. To answer the research questions, a quantitative, survey research design was employed. Data were generated from 126 wealthy and 129 non-wealthy national participants. The findings indicate that a difference does not exist in how wealthy and non-wealthy individuals perceive influence from family, friends/peers, and mass media when selecting banking institutions. The implications for this study are that it can help to foster market orientation and it can give banks' retail and private wealth lines of business the strategies they need to sustain. |
