Cultural values in financial services advertising: A cross-cultural study of magazine ads in the USA and Korea

Young A. Song, Hongmin Ahn, Youngjun Sung

Research output: Contribution to journalArticle

6 Citations (Scopus)

Abstract

Purpose - This paper aims to examine whether culture impacts the execution of financial services advertising (FSA). Specifically, this study investigates how cultural values are reflected in FSA by comparing magazine ads in the USA and Korea. Design/methodology/approach - This study analyzed the content of a total of 1,889 (USA = 1,486; Korea = 403) FSA in print business/news magazines from 2005 to 2009. Findings - The finding of this study showed significant cultural differences of FSA in terms of collectivism, high and low cultural contexts, human models/celebrity presence and time orientation between the USA and Korea. However, the difference in individualistic cues between the USA and Korea was not significant. Research limitations/implications - Using the integration of multiple cultural frameworks will better explain cultural differences reflected in marketing communication in the financial services (FS) sector. Future research is needed to generalize how such frameworks are reflected in different settings, such as different media or different countries. Practical implications - The findings of this study suggest that FSA reflect cultural values, providing further implications for FS companies targeting the global market. Originality/value - This study extends the understanding of impact of cultural values on advertising by exploring the FS industry.

Original languageEnglish
Pages (from-to)349-360
Number of pages12
JournalJournal of Services Marketing
Volume28
Issue number5
DOIs
Publication statusPublished - 2014 Aug 5

Fingerprint

Financial services
Cultural values
Korea
Cross-cultural studies
Cultural differences
Global market
Celebrity
Marketing communications
Design methodology
News
Time orientation
Financial services industry
Collectivism
Targeting
Cultural context
Service sector

Keywords

  • Advertising
  • Cross-cultural marketing management
  • Cross-cultural studies
  • Financial services

ASJC Scopus subject areas

  • Marketing

Cite this

Cultural values in financial services advertising : A cross-cultural study of magazine ads in the USA and Korea. / Song, Young A.; Ahn, Hongmin; Sung, Youngjun.

In: Journal of Services Marketing, Vol. 28, No. 5, 05.08.2014, p. 349-360.

Research output: Contribution to journalArticle

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