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The implications of the FTC's clear and conspicuous standards for the communication of credit card information to young consumers
Ist Teil von
Journal of financial services marketing, 2011-12, Vol.16 (3-4), p.195-209
Ort / Verlag
London: Palgrave Macmillan UK
Erscheinungsjahr
2011
Link zum Volltext
Quelle
Alma/SFX Local Collection
Beschreibungen/Notizen
College students are an important target market for credit card companies and are substantial users of this form of credit, even though they may not have the appropriate knowledge to make informed decisions regarding credit cards. Specific to financial services marketing, the focus of this study is to ascertain whether college-age students recall and understand disclosed information in credit card commercials. This study analyzes the effectiveness of three disclosure standards advocated by the Federal Trade Commission (FTC) which are intended to ensure that consumers (such as college students) are appropriately informed. Specifically, this study focuses on: (1) modality, (2) audience consideration and (3) distraction level present during the disclosure presentation. Tests of the impact of these standards on consumer recall and comprehension of disclosed information have been mixed and the extant research has failed to test all of the standards in combination. An important contribution that this research makes is the reconciliation of differences found in previous research, while revealing the effects that implementing multiple FTC standards has on college students’ recall and comprehension, perceptions of recall and comprehension, and attitudes and behavioral intentions.