The Effects of Construal Level and Regulatory Focus on the Attitude toward Financial Products

조절초점과 해석수준이 금융상품 태도에 미치는 영향

  • Chun, Sungyong (Department of Business Adminstration, Dankook University) ;
  • Youn, Hyo Sik (Department of Business Adminstration, Dankook University)
  • 천성용 (단국대학교 상경대학 경영학과) ;
  • 윤효식 (단국대학교 상경대학 경영학과)
  • Received : 2013.11.20
  • Accepted : 2014.01.02
  • Published : 2014.03.31


Financial products entail either gains or losses, and customers' psychological reaction to these gains and losses affect the selection of the financial products. This study explains the financial customers' behavior by introducing consumers' psychological variables such as regulatory focus and construal levels. According to the regulatory focus theory, there are two distinct motivational orientations called promotion focus and prevention focus. And, construal level theory proposes that people use more abstract and higher levels of construal to represent objects that are more distant on psychological distance. We have incorporated these two psychological variables into financial consumer behaviors. In the experiment 1, the results have showed that promotion focused customers prefer fund products to deposit products, whereas prevention focused customers have showed the opposite result. In the experiment 2, both regulatory focus and construal level were considered. Specifically, under the high level message, promotion focused customers have showed higher preference to fund products than the prevention focused customers, and no significant difference for the deposit products. On the contrary, given the low level message, prevention focused customers have showed higher preference to both fund and deposit products than the promotion focused customers. Therefore, it comes to the conclusion that it will be efficient for the financial companies to use high level messages for the promotion focused customers and low level messages for the prevention focused customers. Implications and limitations are discussed to establish more effective marketing strategies based on the results of this study.


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