In today's highly competitive financial services industry, the traditional distinctions between banks and brokerage firms are becoming blurred. For example, while banks still offer "traditional products" such as chequing and savings accounts, certificates of deposits and loans, they now offer mutual funds, insurance and even provide "financial advice," similar to the products and services offered by brokerage firms. Thus, in today's changing marketplace, banks would most likely be evaluated on which properties of the purchase process?

Question

Quizplus · Accepted Answer

Banks are no longer just offering traditional banking products, they are also offering financial products and services similar to those offered by brokerage firms. Therefore, they would need to be evaluated on all properties of the purchase process, including search properties (the ease of finding relevant information about their products and services), experience properties (the quality of interactions with the bank's employees and the overall experience of using their products and services), and credence properties (the trustworthiness and expertise of the bank in providing financial advice and products).

In Today's Highly Competitive Financial Services Industry, the Traditional Distinctions