An exploration of the development and effectiveness of word-of-mouth communication in financial services markets

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Word-of-mouth plays a critical role in marketing. Organisations are continually seeking new ways to achieve competitive advantage and word-of-mouth represents such an opportunity. However, previous research is limited, for example using word-of-mouth intentions to test the outcome of a consumer model. The proposed study, however, addresses not only the factors that lead to word-of-mouth but also the consequences of word-of-mouth We suggest perceived value is a core contributor to word-of-mouth and will examine the relationship between word-of-mouth development, value perceptions and purchase. The study has key practical implications for service providers, such as our financial service industry partner.