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Abstract
The mutual fund industry is the third largest financial institution next to commercial
banks and life insurance. Its innovative design of financial products and distribution channels has led to its rapid growth. Despite the keen competition among different channels, traditional channel members have managed to maintain their market share. New members in this industry, such as banks, have continued to lag behind. This paper examines key service attributes of banks as compared to those of other channel members in the mutual fund industry. Salient perceptions of customers and non-customers are mapped to provide an audit of vulnerabilities. Managerial implications are discussed.
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Abstract
The mutual fund industry is the third largest financial institution next to commercial
banks and life insurance. Its innovative design of financial products and distribution channels has led to its rapid growth. Despite the keen competition among different channels, traditional channel members have managed to maintain their market share. New members in this industry, such as banks, have continued to lag behind. This paper examines key service attributes of banks as compared to those of other channel members in the mutual fund industry. Salient perceptions of customers and non-customers are mapped to provide an audit of vulnerabilities. Managerial implications are discussed.