Research On The Influence Of Pre-purchase Education Of Financial Products On Customer Purchase Intention

With the development of the national economy and the continuous improvement of the residents’ income level,residents have more idle funds to invest and manage in addition to their daily consumption.Moreover,as far as the current domestic inflation rate has always been higher than the growth rate of personal income,the money in hands is being “depreciated” invisibly once they do not carry out any proper financial investments.Therefore,residents who expect to maintain and increase the value of capital have great demand for financial investment and financial management.Financial institutions,on the other hand,also begin to innovate in order to meet the diverse consumer needs.Finally,for the entire financial market,the development of Internet finance has also brought great convenience to consumers to do finacial investments.Although with the increasing demand for financial investment and wealth management for residents,the domestic financial investment market has well developed,savings is still the preferred way to invest and manage.In this case,this paper assumes that one of the most important reasons is that current or potential consumers lack the knowledge and skills related to investment and financial management.Based on this hypothesis,the author hopes to explore whether financial institutions can influence the purchasing intention of consumers through the pre-purchase education of financial products.First of all,through the literature review and expert interview method,as well as the relevant content of customer education,the pre-purchase education of financial products is divided into three dimensions: basic knowledge education,risk awareness education and rights protection education.Moreover,considering the particularities of financial industry and financial products,borrowing the concept that consumer-perceived value can be applied into the dimension division of financial industry(Chan,2010),this paperdivides customer perceived value into perceived economic value and perceived relational value.Therefore,this paper attempts to explore whether pre-purchase education of financial products can have effects on consumers’ purchase intention through perceived economic value and perceived relational value.In terms of data collection,this paper adopts the questionnaire survey method,and uses SPSS.22 and Smart PLS2.0 to analyze the collected data.Conclusions are as follow: First,the three dimensions of pre-purchase education of financial products will have a significant positive impact on consumers’ perceived economic value.Second,both basic knowledge education and rights protection education have a significant positive impact on the final purchase intention of consumers.Third,perceived economic value and perceived relational value can have positive effects on the consumer’s purchase intention.And the impact of perceived economic value will be higher than the relational value.Fourth,the perceived economic value and perceived relational value can play a mediating role in the process of pre-purchase education of financial products affecting the willingness to purchase.Fifth,although online and offline consumers may have different consumption characteristics,the difference between the two channels is not significant in terms of pre-purchase education of financial products,.The possible innovations of this paper are follows: first,the current academic research on customer education mostly uses the entire service industry as the research background,and rarely uses a specific industry,especially the financial industry.Hence,this paper studies the impact of pre-purchase education of financial products on consumers’ purchase intention based on financial industry,enriching the diversity of current customer education research.Second,most scholars consider customer education as a whole,and few scholars study the specific content of customer education.This paper deconstructs the concept of pre-purchase education of financial products,and confirms thatthe pre-purchase education of financial products is divided into three specific dimensions through literature review and expert interviews,Through literature review and expert interviews,.Additionally,corresponding scales are developed to enrich the research on customer education of financial products.