Why we trust What we trust

Abstract: Title: Why we trust What we trust Seminar date: 2020-06-04 Course: BUSN39 Degree project in Global Marketing, 15 credits Authors: Sofi Hagander & Hampus Harrysson Supervisor: Veronika Tarnovskaya Keywords: Brand Trust, Financial Services, Non-traditional Advertising, Consumption Values, Generation X and Y Thesis purpose: Aims to enrich the understanding of how non-traditional advertising in financial services affects consumers' brand trust and if this perception differs between the generational cohorts X and Y. Methodology: This study is based on a philosophy of social constructionism. A qualitative study has been conducted with an abductive scientific approach. Theoretical perspective: Our theoretical framework which lays the foundation of this study is based on literature for brand trust, commitment-trust theory and theory of consumption values. Empirical data: The empirical material consists of one focus group and twelve semi-structured interviews with participants from generation X and Y. The data was presented according to the structure from our theoretical framework in order to facilitate the analysis. Findings/conclusions: Brand trust in financial services seems to be driven by values such as brand heritage, parents recommendations, perceived reliability, technological adaptations etc. which might influence participants in decision-making and in their commitment towards a financial brand. Consequently, these values tend to influence how consumers interpret non-traditional advertising to different extents which might affect their brand trust and loyalty. It was further found that non-traditional advertising tends to influence generation X and Y’s brand trust in varying degrees which depends on to what extent they consider perceived risk, commitment and adaption. Practical implications: This study recommends financial brands that conduct non-traditional advertising to have in mind what generational cohort they want to target. By doing so, they can enhance values that drive brand trust among consumers and simultaneously aim to build successful relationships.