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Word-of-mouth referral sources for buyers of international corporate financial services

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  • Money, R. Bruce

Abstract

Managing word-of-mouth promotion for corporate or commercial services has received little research attention, even less in an international context--surprising given the growth and importance of services in the global economy. This study explores the issue of who does the referring of financial services in the world's two largest economies: the U.S. and Japan. Decision makers in both locations who made the initial financial services purchase for 48 Japanese and American companies were interviewed regarding whom they used as a referral source. A total of 13 different types of sources were identified and grouped into four categories. The dominant type of referral source used was the "insider" (headquarters, partner, investor) for both Japanese and American companies, especially in a foreign market. Otherwise, the Japanese buyers of services used more of a variety of sources than did the Americans in both foreign and domestic locations. General implications for marketers of financial services in the U.S. and Japan are discussed.

Suggested Citation

  • Money, R. Bruce, 2000. "Word-of-mouth referral sources for buyers of international corporate financial services," Journal of World Business, Elsevier, vol. 35(3), pages 314-329.
  • Handle: RePEc:eee:worbus:v:35:y:2000:i:3:p:314-329
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    References listed on IDEAS

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    1. Walsh, James P. & Wang, ErPing & Xin, Katherine R., 1999. "Same bed, different dreams: working relationships in Sino--American joint ventures," Journal of World Business, Elsevier, vol. 34(1), pages 69-93, April.
    2. Yale, Laura J. & Gilly, Mary C., 1995. "Dyadic perceptions in personal source information search," Journal of Business Research, Elsevier, vol. 32(3), pages 225-237, March.
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    Cited by:

    1. Leila Hurmerinta-Peltomäki & Niina Nummela, 2006. "Mixed methods in international business research: A value-added perspective," Management International Review, Springer, vol. 46(4), pages 439-459, August.
    2. Roth, Martin S. & Money, R. Bruce & Madden, Thomas J., 2004. "Purchasing processes and characteristics of industrial service buyers in the U.S. and Japan," Journal of World Business, Elsevier, vol. 39(2), pages 183-198, May.
    3. Mingzhou Yu & Fang Liu & Julie Anne Lee, 2019. "Consumers’ responses to negative publicity: the influence of culture on information search and negative word-of-mouth," Journal of Brand Management, Palgrave Macmillan, vol. 26(2), pages 141-156, March.
    4. Mark Bowden & Stuart McDonald, 2008. "The Impact of Interaction and Social Learning on Aggregate Expectations," Computational Economics, Springer;Society for Computational Economics, vol. 31(3), pages 289-306, April.

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