Triangulating consumers' perceptions of payment systems by using social representations theory: A multi-method approach

Social systems play a pivotal role in shaping customers' views, the adoption process and subsequent product diffusion for novel products. Perceptions of Austrian consumers regarding payment systems were assessed in a cross-sectional analysis applying social representations theory. Social representations help to unravel the sources of individuals' attitudinal or perceptual similarities and differences, which often stem from inter-group differences. In short, they are useful for the investigation of 'deeper structure' aspects of consumer behaviour, as has been shown in previous studies. This may be seen as a further step forward for marketing research, which operates largely on social phenomena. This study addresses the shortage of non-cognitive-based research in marketing by offering a methodological approach that uses triangulation on the basis of associative answers from social groups. A four-step analytic design revealed that consumer groups transpose the abstract concept of payment systems into tangible objects and processes in a similar way; however, their social background impacted which value was attached to established as well as new means of payment. Cash is still seen as the prototypical form of payment; newer forms, such as credit cards or ATM cards, appear already in the periphery of representations, urgently needing well-concerted marketing efforts to become recognized as substitutes for cash. From a managerial view, the research employs social phenomena as a basis for segmenting natural rather than nominal groups in order to better serve consumers' needs in an increasingly connected social reality. © 2013 John Wiley & Sons, Ltd.