Factors influencing consumers’ adoption of chatbot assisted marketing activities in the South African banking industry
- Authors: Rusike, Christabel
- Date: 2023-04
- Subjects: Banks and banking -- South Africa , Consumer movements
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10948/62380 , vital:72643
- Description: In a world where technology is evolving at an alarming rate there have been so many advancements and developments in the marketing field and how consumers engage in accessing products and services. In general, a great body of literature on information technology shows evidence that areas such as mobile banking and organisational technology adoption have been explored. However, limited attention has been dedicated to consumer adoption or acceptance stages of technology, particularly chatbots in the South African context. Apart from that, during the peak of the Covid 19 pandemic, consumers had to adjust to mainly doing transactions online as there was a restriction in accessing banking halls. Given this backdrop, the aim of this study is to address this particular research gap through investigating factors influencing consumers’ adoption of chatbot assisted marketing activities in the South African banking industry. The research was inspired and constructed upon three research theories, namely Technology Acceptance Model (TAM), The Diffusion of Innovation Theory (DoIT) and Unified Theory of Acceptance and Use of Technology 2 (UTAUT2). Based on these theories, a hypothesised model was formulated with eight independent variables, namely Perceived Usefulness, Perceived Ease of Use, Facilitating Conditions, Price Value, Hedonic Motivation, Social Influence, Perceived Compatibility and Relative Advantage. The dependent variable was put forward as Chatbot Adoption. Descriptive and explanatory research designs were selected for this study, utilising a quantitative research methodology. In addressing the objectives of the study, secondary data was collected through the internet, magazines, newspapers, articles, journals and books to aid in completing the literature chapters and construction of the measuring instrument. Primary data was also collected through a self-administered questionnaire which was created on QuestionPro and the link was distributed to the respondents. The population under study were consumers of the banking industry products and services in South Africa. The target respondents consisted of consumers who hold valid bank account and have used or experienced online activities within the banking sector. A non-probability vii sampling method through convenience and snowball sampling was adopted to recruit the respondents. Data were obtained from 151 usable survey questionnaires. The data collected from the respondents was coded and captured on a Microsoft excel spreadsheet which was then followed by analysing of data using IBM SPSS version 16. From the analysed results, all the suggested independent variables were retained as the respondents confirm in varying degrees the influence on behaviour that the factors have. The study found that the eight independent factors have practical and statistically significant correlation with consumer adoption of chatbot assisted marketing activities within the South African banking industry. In addition, the inferential ranking of the factors indicates that Relative Advantage, Perceived Usefulness and Price Value fall under one group of significant factors perceived by consumers in their decision to adopt chatbot assisted marketing activities. It can therefore be concluded that it is useful for the banking industry to implement the identified factors and recommendations offered to enhance the use of chatbots in consumers’ online banking activities as the responses obtained are in general favourable. The study thus contributes theoretically and practically to the body of knowledge particularly digital marketing through chatbots in the banking sector. Therefore, the findings can be useful for financial marketing, digital banking and the suggested model can help the marketing and artificial intelligence departments in the banking industry in the decision-making process. , Thesis (Ma) -- Faculty of Faculty of Business and Economic Sciences, 2023
- Full Text:
- Date Issued: 2023-04
- Authors: Rusike, Christabel
- Date: 2023-04
- Subjects: Banks and banking -- South Africa , Consumer movements
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10948/62380 , vital:72643
- Description: In a world where technology is evolving at an alarming rate there have been so many advancements and developments in the marketing field and how consumers engage in accessing products and services. In general, a great body of literature on information technology shows evidence that areas such as mobile banking and organisational technology adoption have been explored. However, limited attention has been dedicated to consumer adoption or acceptance stages of technology, particularly chatbots in the South African context. Apart from that, during the peak of the Covid 19 pandemic, consumers had to adjust to mainly doing transactions online as there was a restriction in accessing banking halls. Given this backdrop, the aim of this study is to address this particular research gap through investigating factors influencing consumers’ adoption of chatbot assisted marketing activities in the South African banking industry. The research was inspired and constructed upon three research theories, namely Technology Acceptance Model (TAM), The Diffusion of Innovation Theory (DoIT) and Unified Theory of Acceptance and Use of Technology 2 (UTAUT2). Based on these theories, a hypothesised model was formulated with eight independent variables, namely Perceived Usefulness, Perceived Ease of Use, Facilitating Conditions, Price Value, Hedonic Motivation, Social Influence, Perceived Compatibility and Relative Advantage. The dependent variable was put forward as Chatbot Adoption. Descriptive and explanatory research designs were selected for this study, utilising a quantitative research methodology. In addressing the objectives of the study, secondary data was collected through the internet, magazines, newspapers, articles, journals and books to aid in completing the literature chapters and construction of the measuring instrument. Primary data was also collected through a self-administered questionnaire which was created on QuestionPro and the link was distributed to the respondents. The population under study were consumers of the banking industry products and services in South Africa. The target respondents consisted of consumers who hold valid bank account and have used or experienced online activities within the banking sector. A non-probability vii sampling method through convenience and snowball sampling was adopted to recruit the respondents. Data were obtained from 151 usable survey questionnaires. The data collected from the respondents was coded and captured on a Microsoft excel spreadsheet which was then followed by analysing of data using IBM SPSS version 16. From the analysed results, all the suggested independent variables were retained as the respondents confirm in varying degrees the influence on behaviour that the factors have. The study found that the eight independent factors have practical and statistically significant correlation with consumer adoption of chatbot assisted marketing activities within the South African banking industry. In addition, the inferential ranking of the factors indicates that Relative Advantage, Perceived Usefulness and Price Value fall under one group of significant factors perceived by consumers in their decision to adopt chatbot assisted marketing activities. It can therefore be concluded that it is useful for the banking industry to implement the identified factors and recommendations offered to enhance the use of chatbots in consumers’ online banking activities as the responses obtained are in general favourable. The study thus contributes theoretically and practically to the body of knowledge particularly digital marketing through chatbots in the banking sector. Therefore, the findings can be useful for financial marketing, digital banking and the suggested model can help the marketing and artificial intelligence departments in the banking industry in the decision-making process. , Thesis (Ma) -- Faculty of Faculty of Business and Economic Sciences, 2023
- Full Text:
- Date Issued: 2023-04
Transformation in the South African Banking Industry
- Authors: Nokanda, Abongile
- Date: 2022-04
- Subjects: Banks and banking -- South Africa
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10948/58091 , vital:58550
- Description: Transformation is a deliberate plan of action to change historical racial and gender disadvantages. Transformation is also a fundamental necessity in South Africa as it seeks to address the injustices of apartheid while enhancing economic inclusiveness and promoting diversity in the working environment. The progress of transformation remains slow in South Africa, particularly in management and leadership positions in companies within the South African Banking Sector Therefore, it is quite clear that inequality, discrimination and a lack of transformation in South Africa need to be addressed, as the inequality gap has remained the same, even after the abolition of apartheid. However, the Western Cape is a province that is considered to practice and protect apartheid policies that perpetuate racial, gender and spatial disparities. This study, therefore, sought to investigate the transformation of banks in the Western Cape. The study followed a deductive approach and used an online survey as a data collection tool. At the time of study, the population of the study were employees of banks in the Western Cape and who were permanently employed. Additionally, the aim of this research was to investigate the influence of the Employment Equity Act, Skills Gap, Leadership Accountability and Human Resource Development in driving transformation in the banking sector of the Western Cape region in South Africa. The empirical results of the study were obtained from 105 bank employees located in the Western Cape. The Employment Equity Act, Leadership Accountability and Human Resource Development were the strongest independent variables. The Employee Development was an independent variable that emerged from the respondents. The findings of the study indicated that Employment Equity Act, Leadership Accountability, Employee Development and Human Resource Development had a significant, positive relationship with Transformation. The study also revealed the Skills Gap as the only independent variable that had an insignificant impact on Transformation. The recommendations were made to the Western Cape Banks to implement and continue to: drive the implementation of the EE Act; for leaders to be held accountable when it comes to driving transformation; banks to establish and facilitate employee development programs and for human resource to identify, retain and promote talented employees. This will therefore lead to a better performing and transformed banking sector. , Thesis (MA) -- Business and Economic science, 2022
- Full Text:
- Date Issued: 2022-04
- Authors: Nokanda, Abongile
- Date: 2022-04
- Subjects: Banks and banking -- South Africa
- Language: English
- Type: Master's theses , text
- Identifier: http://hdl.handle.net/10948/58091 , vital:58550
- Description: Transformation is a deliberate plan of action to change historical racial and gender disadvantages. Transformation is also a fundamental necessity in South Africa as it seeks to address the injustices of apartheid while enhancing economic inclusiveness and promoting diversity in the working environment. The progress of transformation remains slow in South Africa, particularly in management and leadership positions in companies within the South African Banking Sector Therefore, it is quite clear that inequality, discrimination and a lack of transformation in South Africa need to be addressed, as the inequality gap has remained the same, even after the abolition of apartheid. However, the Western Cape is a province that is considered to practice and protect apartheid policies that perpetuate racial, gender and spatial disparities. This study, therefore, sought to investigate the transformation of banks in the Western Cape. The study followed a deductive approach and used an online survey as a data collection tool. At the time of study, the population of the study were employees of banks in the Western Cape and who were permanently employed. Additionally, the aim of this research was to investigate the influence of the Employment Equity Act, Skills Gap, Leadership Accountability and Human Resource Development in driving transformation in the banking sector of the Western Cape region in South Africa. The empirical results of the study were obtained from 105 bank employees located in the Western Cape. The Employment Equity Act, Leadership Accountability and Human Resource Development were the strongest independent variables. The Employee Development was an independent variable that emerged from the respondents. The findings of the study indicated that Employment Equity Act, Leadership Accountability, Employee Development and Human Resource Development had a significant, positive relationship with Transformation. The study also revealed the Skills Gap as the only independent variable that had an insignificant impact on Transformation. The recommendations were made to the Western Cape Banks to implement and continue to: drive the implementation of the EE Act; for leaders to be held accountable when it comes to driving transformation; banks to establish and facilitate employee development programs and for human resource to identify, retain and promote talented employees. This will therefore lead to a better performing and transformed banking sector. , Thesis (MA) -- Business and Economic science, 2022
- Full Text:
- Date Issued: 2022-04
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