| 'Phis research addressed the problem that marketing dollars may be wasted if communications channels preferred by particular groups of consumers are not used to reach those groups, thus creating suboptimal allocation of marketing budgets, which can result in a loss of potential sales volume. It was believed that undiscovered factors might have contributed to the counterintuitive responses that certain consumers had exhibited in an earlier study with regard to their preferences for direct marketing media. The current study explored one such factor, consumer attitude toward money, a widely studied differentiator of consumer behavior that had not previously been applied to direct marketing media preference. The purpose of this quantitative study was to determine if the direct marketing media preferences of 18- to 34-year-old consumers correlated with their attitudes toward money. Three consumer preferences for delivery of marketing information were examined: (a) postal direct mail. (b) Internet-based communication, such as e-mail and communication via social networking; and (c) no preference for either communication channel. The study examined these preferences in relation to each participant's attitude toward money as defined by the Yamauchi and Templer Money Attitude Scale, which scores consumers on four money attitude factors: power-prestige, retention-time, distrust, and anxiety. Although the data provided by the 172 study participants suggested that attitude toward money does not significantly influence direct-marketing media preference, the study advanced the knowledge of consumer preferences for marketing communications and provided a framework for future studies of consumer channel preference and the drivers of that preference. Recommendations for future research include exploration of consumer preferences for direct marketing media and potential correlations to the stages or length of the purchase process, the nature of the consumer as an existing customer of the firm versus a prospect, the category of the product or service offered, consumer demographics, including a broader spectrum of ages, consumer psychographics, and the nature of the message, for example customer service versus soliciting purchase activity. Additionally, the notion of consumers seeking a multi-channel approach to marketing communications can be explored based on evolving consumer needs during the consideration, purchase and consumption processes. |
