Consumer involvement in financial services: an
empirical test of two measures
Keywords
Financial services,
Consumer behaviour
Abstract
This study reports an empirical
test of two involvement scales:
Zaichkowsky's personal involve-
ment inventory (PII) and Kapferer
and Laurent's consumer involve-
ment profile (CIP). The purpose of
this study is to identify whether
these two scales are applicable to
financial services. Eight financial
services are investigated: the use
of a cheque book, overdraft
facility, the use of Switch
services, the use of a cash
machine, savings account,
investment services, mortgage
services, and personal loan. The
empirical findings show that the
two scales indicate different
levels of involvement in the eight
financial services. The PII
measure indicates that mortgage,
investment and cash machine use
are high involvement services. The
use of savings account, personal
loan, a chequebook, overdraft
facility, and Switch services are
found to be medium involvement
services. The CIP shows that
investment, mortgage, and
savings accounts are rated as high
involve-ment services. Personal
loans, overdraft facilities, Switch
card, cash machine, and
chequebook usage are in the
middle range of involvement.
Being a multidimen-sional scale,
the CIP provides more data about
involvement. More investigation is
needed in order to understand the
links between consumer
involvement in financial services
and customer behaviour. The
authors conclude with recom-
mendations for further research
into consumer involvement in
financial services and its effect on
bank customer behaviour.
International Journal of Bank
Marketing
19/6 [2001] 232±245
# MCB University Press
[ISSN 0265-2323]
[ 232 ]
Abdullah H. Aldlaigan
Manchester Business School, University of Manchester, Manchester, UK
Francis A. Buttle
Littlewoods Professor of Customer Relationship Management, Manchester
Business School, University of Manchester, Manchester, UK
Introduction
Despite a growing volume of research on
consumers and financial services, our
understanding of consumer behaviour in
this area remains partial. However, an
understanding of the factors that affect
both evaluations of different financial
services and the final purchase decision is
of importance to both academics and
practitioners. One factor which is
thought to be of particular significance is
the level of consumer involvement (Foxall
and Pallister, 1998).
The concept of involvement was
originally investigated in the field
of social psychology by Sherif and Cantril
(1947) who viewed it as the relation between
ego and an object. Later Sherif et al. (1965)
referred to it as the centrality of beliefs
involved with an individual. The concept of
involvement was first employed in
studies of attitude change, and used in social
judgement theory which postulates
that an audience's response to a persuasive
message is determined by two factors acting
together:
1 prior attitude toward the topic; and
2 involvement (Sherif and Hovland, 1961;
Zaltman and Wallendorf, 1983).
From a consumer behaviour perspective,
involvement has been defined as:
a motivational state of mind (arousal) that is
goal directed (Zaltman and Wallendorf, 1983,
p. 550).
This indicates that there is a link between the
level of a person's motivation towards a
particular goal and the level of involvement
of that person.
Houston and Rothschild (1978) realised
the potential of involvement as a
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multidisciplinary construct, and suggested
that there are different types of involvement
and different ways to study it. They placed
emphasis on involvement as it relates to
cognitive response to persuasive messages.
They introduced three types of involvement,
which they call:
1 situational involvement
2 enduring involvement; and
3 response involvement (Houston and
Rothschild, 1978, p. 184).
These types of involvement are
conceptualised as follows:
One is external (S) to the individual, another
is internal (O), and together S and O elicit
a third type of involvement which is
response-oriented (R). Thus the involvement
paradigm is similar to the S-O-R paradigm in
learning theory where S, O, and R represent
stimulus, organism, and response,
respectively (Houston and Rothschild, 1978).
Rothschild (1984) offers one definition of
involvement that is related to our purpose in
this study: involvement is an unobservable
state of motivation, arousal or interest. The
two scales that we are testing in this study
are compatible with Rothschild's definition
of involvement.
This paper attempts to provide more
understanding of consumer involvement
measures in the use of financial services. Our
general research aim in this empirical study
is to explore the nature of involvement in
financial services. We apply Zaichkowsky's
(1985) personal involvement inventory (PII)
and Laurent and Kapferer's (1985) consumer
involvement profile (CIP) to explore the
following broad research question: what is
the nature of consumer involvement in
financial services?
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Abdullah H. Aldlaigan and
Francis A. Buttle
Consumer involvement in
financial services: an
empirical test of two
measures
International Journal of Bank
Marketing
19/6 [2001] 232±245
Literature review
Involvement: operationalisation in
marketing
The literature on involvement shows that
there are three major domains of
involvement, which are considered by
marketing researchers. These domains are:
. advertising domain;
. product class domain; and
. purchasing decision domain
(Zaichkowsky, 1986).
The involvement literature indicates that
these three domains are related to each other
in the sense of their personal relevance.
Personal relevance is claimed to be a focal
theme of involvement research, since
involvement definitions lack consistency
(Zaichkowsky, 1986; Arora, 1982; Greenwald
and Leavitt, 1984).
The involvement construct has many times
been operationalised to measure one or more
of the three domains. Slama and Tashchian
(1985) developed a measure of global
involvement for the purchase situation.
Based on Sherif and Cantril's (1947)
argument that people can develop many
different types of involvement (e.g.
involvement with activities, objects, ideas,
social issues, etc.), they argue that
purchasing, as an activity, is something with
which people could become involved. Mittal
(1988, 1989) uses Zajonc's (1980) thesis for
developing a measure of involvement by
applying an affective choice model. The
consumer is viewed in the affective choice
model as an information processing system.
The idea of the low involvement consumer
who does not process much information
when product choice is unimportant or the
purchase situation is uninvolving is
incorporated into this model.
Zaichkowsky's (1985) personal involvement
inventory (PII) treats involvement as a
uni-dimensional construct. However, a
recent evaluation of the validity and
reliability of this scale in the context of
financial services (Foxall and Pallister, 1998)
suggested that there might be two
dimensions, the dominant one being rational
and the secondary factor being emotional. In
contrast, Laurent and Kapferer's (1985)
consumer involvement profile (CIP) treats
involvement as a multidimensional
construct. The CIP is based on measuring
different hypothetical dimensions, which are
related to enduring involvement. Both scales
focus on individual-object involvement.
The personal involvement inventory (PII)
The PII scale was developed to measure a
person's involvement with products. The PII
was based on the following definition of
involvement:
A person's perceived relevance of the object
based on inherent needs, values, and interests
(Zaichkowsky, 1985, p. 342).
Items in the PII are related to three assumed
areas that affect a person's involvement
level:
1 Personal: inherent interests, values, or
needs that motivate the person toward the
object.
2 Physical: characteristics of an object that
cause differentiation and increase
interest.
3 Situational: something that temporarily
increases the relevance of, or interest
toward the object.
The consumer involvement profile (CIP)
Laurent and Kapferer (1985) claimed
involvement was a ``multi-dimensional
construct'', not ``a unitary one''. They
developed the consumer involvement profile
(CIP) to measure five dimensions of
involvement. These five dimensions are
defined as:
1 Interest: the personal interest a person
has in a product (its personal meaning or
importance).
2 Pleasure: hedonic and rewarding value of
the product class. The hedonic value of the
product, its emotional appeal, its ability to
provide pleasure and affect.
3 Sign value: the degree to which the
product expresses the person's self.
4 Importance risk: perceived importance of
the negative consequences of a
mispurchase.
5 Risk probability: the perceived subjective
probability of making such mispurchase
(Kapferer and Laurent, 1993).
The original PII and CIP inventories appear
in the Appendix, Tables AI and AII
respectively.
Previous applications of the PII and
CIP to services
The PII was employed in a 15 nations, cross-
cultural, empirical study. Three services
were investigated: the use of cinema,
restaurants, and air travel over a one-year
period.
Arora (1993) has measured consumer
involvement in three services: physician,
barber and insurance. Four dimensions were
employed in Arora's scale. Two of them were
adapted from the CIP: perceived risk and
hedonic; one dimension is borrowed from the
[ 233 ]
Abdullah H. Aldlaigan and
Francis A. Buttle
Consumer involvement in
financial services: an
empirical test of two
measures
International Journal of Bank
Marketing
19/6 [2001] 232±245
[ 234 ]
PII: perceived relevance; the fourth is self
expression, which is similar to the CIP's sign
value construct.
Most recently, Foxall and Pallister
compared Zaichkowsky's PII with Mittal's
purchase decision involvement scale to
assess scale performance, in terms of
dimensionality, validity and reliability. Both
scales were found to perform well in a
financial services context, although an
interesting finding was the dominance of
rational involvement with emotional
involvement being relatively weak.
The study
To achieve the objectives of this study, we
explore the nature of consumer involvement
in financial services by empirically testing
two measures of consumer involvement: the
consumer involvement profile (CIP) (Laurent
and Kapferer, 1985), and Zaichkowsky's (1985)
personal involvement inventory (PII). Some
adjustment of these two scales was made to
make them relevant to the financial services
context.
This empirical study attempts to achieve
the following objectives:
. to identify whether these two scales can be
used to measure consumer involvement in
financial services; and
. to analyse the performance of these two
scales in relation to customers' usage of
financial services.
Methodology
Selection of financial services
We selected the financial services for this
study following a review of the services
provided by two large UK banks. From the
literature of these two banks we selected six
popular financial services:
1 current account;
2 savings and investments;
3 personal loans;
4 mortgage services;
5 insurance services; and
6 travel services.
Pretesting
Two main objectives of the pretesting were:
1 To identify difficulties faced by
respondents when answering the two
questionnaires.
2 To test our selection of the six financial
services and explore their potential as
objects for involvement measurement.
The pretesting was made for the two scales as
follows:
. both scales were adapted to make them
relevant to the financial services context.
Instructions and item wording were
modified appropriately;
. a convenience sample of ten postgraduate
students completed the modified
instruments; and
. interviews were held with only five
respondents who volunteered to provide a
verbal feedback about clarity of the
modified instruments.
Results of the pretesting
Feedback from the pretest mainly focused on
the relevance of the involvement dimensions
to the six financial services. For instance, the
sample made no sense of the questions about
their perception of risk in using a current
account. However, they were clearly able to
express their feeling about the risk of using a
cheque book or a cash machine. There was
also a difficulty in combining savings and
investment into a single service category. It
became clear that savings and investment
should be measured separately as well as
breaking down the current account into
specific services such as a cheque book,
overdraft, Switch (debit card) services, and a
cash machine.
Mortgage and personal loan services were
judged to be clear enough for the group to
answer. The other two services, insurance
and travel services, were found to be unclear
and needed to be treated separately.
Insurance services are provided by banks'
partner companies. These partners offer
different types of insurance in association
with the purchase of other core financial
services. For instance, purchasing travel
with a credit card may enable the consumer
to obtain travel insurance; buying a
mortgage may include a mortgage payment
protection plan. We finally settled on the
eight services described in the following
section.
Final selection of eight financial services
As a result of the feedback from the pilot, the
final selection of the eight financial services
to measure included:
1 a cheque book;
2 an overdraft facility;
3 Switch services;
4 a cash machine;
4 savings account;
6 investment services;
7 mortgage services; and
8 personal loan.
The empty matrix in Table I suggests all
possibilities of relationships between the
chosen eight financial services and
dimensions of involvement when measured
by either the PII or the CIP.
Abdullah H. Aldlaigan and
Francis A. Buttle
Consumer involvement in
financial services: an
empirical test of two
measures
International Journal of Bank
Marketing
19/6 [2001] 232±245
Table I
Assumptions about level of involvement and financial services
PII
Services Interest Needs Values
Cheque book
Switch
Overdraft
Cash machine
Savings account
Investment services
Mortgage
Personal load
The study
It was decided to test the scales in a single
administration. Two major problems
occurred: the length of the questionnaire
with associated repetition of the concepts and
an order effect problem. We tried to reduce
the first problem by instructing respondents
to answer only questions for services they
are using or have used in the past. The order
effect problem was reduced by printing half
of the questionnaires with the PII scale first
and the CIP scale second. The other half were
printed in reverse order.
Instruments
Zaichkowsky's (1985) personal involvement
inventory: we asked respondents to
respond to all 20 items relating to services
which they either use at
present or have used in the past.
Zaichkowsky's scale is a seven-point
semantic differential scale that measures
three constructs:
1 interests;
2 needs; and
3 values.
These constructs are measured by 20 items.
We instructed respondents not to answer
questions about services with which they do
not have any experience (see Appendix,
Table AI).
For the CIP scale (Laurent and Kapferer,
1985; Kapferer and Laurent, 1993) 15
statements were prepared in a five-point
Likert scale format (1 = strongly disagree,
2 = disagree, 3 = neutral, 4 = agree, and
5 = strongly agree). Three statements were
used for each of the five dimensions that
represent the consumer involvement profile
(see Appendix Tables AII and AIII for
examples of the items).
Sampling
A university-based convenience sample of
120 subjects was approached to participate.
CIP
Sign Important Probability
Interest Pleasure value risk of error
A response rate of 51 per cent was achieved.
Four questionnaires were unusable and
discarded. Fifty-seven questionnaires were
generally usable. Since each part of the
questionnaire was independent, we were
able to use any questionnaire with
sufficient data in each of its parts. The
demographic distribution of the 57
responses included 31 males, 25 females and
one missing datum. The respondents' age
was in the range of 31 to 40 years. The
majority of the sample were employees (77
per cent) and 12 per cent doctoral students;
the rest were either other professionals or
self employed. Of the sample, 71 percent had
annual personal income falling in the range
of £5,000 to £19,000.
Results
The PII: data review
The PII data indicate that three services
received high levels of consumer
involvement. Five services fall into the
medium range. Table II illustrates the
ranking of the eight services according to
their level of involvement. Zaichkowsky
(1985) suggests that low involvement is found
in a score ranging from 20 to 69; medium
scores: 70 to 110; and high scores: 111 to 140.
The original PII scale mean, based on 13
products, is 89.55. Zaichkowsky argues that
this overall distribution can be used as a
guide for classifying high and low
involvement in the PII measure. The PII
score is computed as follows: for low
involvement, scores from 1.00  20 to 3.45  20
[20 to 69]; medium involvement, 3.5  20 to
less 5.5  20 [69 to 110]; high involvement
from 5.55  20 to 7.0  20 (111 to 140).
As shown in Table II, mortgage and
investment services with average scores of
117.31 and 116.57, respectively, are the
highest among the eight services. The use of
a cash machine based on these results may
be considered as high involvement as well.
[ 235 ]
Abdullah H. Aldlaigan and
Francis A. Buttle
Consumer involvement in
financial services: an
empirical test of two
measures
International Journal of Bank
Marketing
19/6 [2001] 232±245
[ 236 ]
Table II
A summary of the PII levels of involvement
No. Service Samplea Overall mean
1 Mortgage services 26 117.31
2 Investment services 14 116.57
3 Cash machines 51 112.58
4 Savings accounts 45 109.73
5 Personal loans 21 107.71
6 Cheque book 47 104.96
7 Overdraft facility 25 104.44
8 Switch services 37 100.38
Notes: arepresents subjects who answer all items in each service with no missing data. Some of the subjects
rated more than one service; brange: 20 (low) to 70 (medium) to 140 (high)
The other five services can be labelled
medium. Involvement scores for individual
informants differed widely: all eight
services were rated as high involvement by
at least one respondent. One respondent
rated savings account the highest
involvement service, reporting a maximum
score of 140.
The PII: scale reliability
Notwithstanding the observations of Foxall
and Pallister (1998), for the purposes of the
current study, unidimensionality was
assumed. Cronbach's reliability test of the
scale was performed using data from three
services which were fully completed with no
missing items by 45 or more respondents:
cheque book (47), cash machine (51) and
savings account (45). The scale's reliability
for cheque book is 0.939, cash machine 0.907,
and savings account 0.928. The scores are
very high. Zaichkowsky's original study
shows alphas of 0.97, 0.99 and 0.97 for instant
coffee, colour television and laundry
detergent, respectively (Zaichkowsky, 1985,
p. 346).
Some of the 20 scale items received
relatively low scores across most of the
services. These items include appealing/
unappealing, exciting/unexciting,
fascinating/mundane, interested/
uninterested and interesting/boring. Table
III shows the means of each item for each
service. The means for the appealing/
unappealing item, for example, in the eight
services range from 4.0 to 4.55 which may
indicate that respondents have generally no
opinion on this item or that the item is
irrelevant to financial services. It would
seem that the interest construct in the PII
scale is not highly related to these financial
services. Other items capturing the two other
constructs of the PII (need and value)
PII involvement rangeb
Low High
20 70 140
Std dev. Level Respondents' score range
14.86 High 85 to 136
16.56 High 92 to 138
14.39 High 54 to 137
16.77 Medium 84 to 140
13.12 Medium 83 to 128
18.96 Medium 45 to 134
19.64 Medium 36 to 128
23.87 Medium 45 to 136
received higher means, ranging from 4.74 to
6.79 across all eight services.
Appendix, Table AIV shows the means for
the eight services as measured by the PII.
These findings provide some clues about
which construct and items are more related
to the financial services context. Items
attached to the need and value constructs
appear more relevant than items related to
the interest construct.
The CIP: data review
The consumer involvement profile is a
combination of five hypothetical dimensions
of involvement. Table IV summarises the
involvement scores in the eight financial
services by the mean values for each
dimension of the CIP.
We followed the recommendations of
Kapferer and Laurent (1985/1986) for
analysing the five dimensions of
involvement. In Table IV, the overall scores
for involvement in each service indicate that
investment and mortgage services received
the high scores, 54.19 and 50.74, respectively
out of the scale's maximum score of 75.
Savings, personal loan, overdraft, Switch
services, received scores of 48.77, 45.66, 43.71,
41.25, respectively, which are higher than
cash machine 40.70, and cheque book 38.35. It
seems from Table IV that the major
contributors to the involvement scores
among the eight services in the CIP scale are
risk importance and interest respectively,
given their dimension scores of 90.64 and
83.36. These two dimensions indicate the risk
element and the personal importance of
financial services.
Table V shows the highest and lowest
involvement dimensions for each of the
eight financial services. The table provides
indications of which dimension is
particularly related to each financial
Abdullah H. Aldlaigan and
Francis A. Buttle
Consumer involvement in
financial services: an
empirical test of two
measures
International Journal of Bank
Marketing
19/6 [2001] 232±245
service. Risk importance and interest/
meaning were the highest rated dimensions
for all eight services. Pleasure and sign
values dimensions are relatively
insignificant. Appendix, Table AV shows
the mean values for each item of the CIP for
the eight financial services. Appendix,
Separately they cited savings and cash
machine use as high involvement
services. Notably, no services are low
involvement
2 The CIP and PII capture different
dimensions of involvement:
It seems that three dimensions of
.

Table AV provides statistical support for involvement are irrelevant in the

Table V.
The CIP: scale reliability
We selected the same three services, cheque
book, cash machine, savings account, to
test the reliability of the revised CIP scale
(Table VI).
Cronbach's alpha for the scales used in this
study is higher than 0.5 except for the
personal interest dimension which is very
low (0.11). In a similar study, Arora's (1993,
p. 54) four-dimension CIP scale achieved
similar reliabilities: risk importance 0.57,
self-expression or sign value 0.72, pleasure
0.83, personal relevance or interest 0.83.
These reliabilities are lower than those for
the PII scale.
Discussion and further research
There are three major findings from this
research.
1 Financial services vary in levels of
personal involvement:
. Financial services are not uniform in
their levels of involvement. The CIP
and PII both identified two of the eight
services ± mortgage and investment
products ± as high in involvement.
context of financial services: sign
value and pleasure (CIP) and interest
(PII).
. Is it possible to identify which scale is
better? Certainly, the two scales
performed differently. The PII showed
the better reliability. However, the CIP
yielded more information since it
measured five dimensions of
involvement and highlighted the
relative importance of some
dimensions over others.
. A simple Pearson correlation was
performed between the total scores of
the CIP and PII for each of the eight
financial services. As an indication of
convergent validity high correlation
between these two scales would suggest
that they measure the same construct.
As shown in Table VII the only
significant correlation between CIP
and PII was for Switch services and
cash machine use. The low correlations
for other financial services suggest
that these two scales may not capture
the same latent dimensions of
consumer involvement. This indicates
the need for more exploratory research
to measure consumer involvement in
financial services.

Table III
Item analysis of Zaichkowsky's PII scale
Appealing/unappealing Exciting/unexciting Fascinating/mundane Interested/uninterested Interesting/boring
Sample Sample Sample Sample Sample
Service per item M SD per item M SD per item M SD per item M SD per item M SD
1 Mortgage 29 4.55 1.48 28 3.93 1.39 28 3.96 1.45 28 5.45 1.38 29 4.24 1.53
2 Investment 14 4.36 2.37 14 4.64 1.86 14 4.86 1.70 14 5.14 1.56 14 4.71 1.68
3 Cash
machine 51 4.31 1.42 51 3.86 1.39 51 3.96 1.48 51 4.98 1.38 51 3.88 1.21
4 Savings
account 38 4.32 1.30 45 4.07 1.54 45 3.96 1.45 45 5.11 1.51 45 4.20 1.70
5 Personal
loan 22 4.41 1.18 22 4.14 1.13 22 3.59 1.14 22 4.59 1.10 22 4.09 1.23
6 Overdraft
facilities 27 4.37 1.45 28 3.61 1.07 28 3.50 1.14 28 4.89 1.34 28 3.93 1.39
7 Switch
services 38 4.32 1.30 38 3.95 1.23 38 3.87 1.21 38 4.45 1.29 38 4.03 1.26
8 Cheque
book 53 4.00 1.40 53 3.45 1.26 53 3.34 1.47 52 4.96 1.34 51 3.63 1.26

Notes: This table shows data for five items, which received low or no opinion rating by respondents in most of the eight financial services. The
sample per item presented in this table is the valid number of responses for each item as rated independently. M = mean; SD = standard deviation

[ 237 ]
Abdullah H. Aldlaigan and Table IV
Francis A. Buttle
Consumer involvement in A summary of the CIP involvement scores
financial services: an Involvement score rangea
empirical test of two
measures Risk Probability
International Journal of Bank Sample Interest Pleasure Sign value importance of error Total by Total score
Marketing Service size 24 to 120 24 to 120 24 to 120 24 to 120 24 to 120 service rangeb
19/6 [2001] 232±245
Investment 15 11.20 9.72 9.50 12.79 10.98 54.19 15 to 75
Mortgage 25 10.87 7.82 8.18 12.88 10.99 50.74 15 to 75
Savings 44 11.16 9.65 8.36 10.54 9.06 48.77 15 to 75
Personal loan 23 10.19 4.57 8.05 12.66 10.19 45.66 15 to 75
Overdraft 28 9.89 5.22 8.64 12.00 7.96 43.71 15 to 75
Switch 35 9.99 7.73 7.23 9.55 6.75 41.25 15 to 75
Cash machine 49 10.75 8.05 6.41 10.06 5.43 40.70 15 to 75
Cheque book 49 9.31 7.25 5.80 10.16 5.83 38.35 15 to 75
Financial services
dimensional
involvement scores 83.36 60.01 62.17 90.64 67.19

Notes: aInvolvement score range for each involvement dimension in the eight services is minimum = 24
maximum = 120 (computed as follows: minimum score 1 x 3 items x 8 financial services = 24; maximum
score = 5 x 3 items x 8 financial services = 120); bInvolvement score range for each service is minimum = 15 and
maximum = 75 (computed as: 1 x 15 items for the minimum score = 15; 5 x 15 items for the maximum
score = 75)

Table V independently showed some

CIP involvement range by financial service indications of the nature of consumer
involvement in financial services it
Service Highest dimensions Lowest dimensions
could be useful to develop a revised
Mortgage Risk importance Pleasure scale to provide more insight into this
Investment Risk importance Sign value important area. This could improve
Personal loan Risk importance Pleasure our understanding of bank customer
Overdraft facility Risk importance Pleasure behaviour. For example, switching
Savings account Interest/meaning Sign value behaviours might be linked to levels of
Switch Interest/meaning Sign value involvement. Our study indicates that
Cash machine Interest/meaning Probability of error bank customers view investment
Use of a cheque book Risk importance Sign value and probability of error services as high risk. Clearly, high
involvement services such as these
need to be well managed by banks to
Table VI
reduce levels of perceived risk and
Reliability of CIP
reduce the propensity for customers to
Alpha for this Original scale's switch.
Dimensions study alpha
Further qualitative investigation of the
Interest/ psychological variables associated with
meaning 0.11 0.80 customers' usage of financial services could
Risk importance 0.57 0.82 generate a better measure of consumer
Probability of involvement. Further exploration of other
error 0.77 0.72 involvement measures or constructs such as
Pleasure/ Mittal's (1988, 1989) purchasing decision scale
hedonic value 0.78 0.88 (initially examined by Foxall and Pallister
Sign value 0.88 0.90 (1998) or Houston and Rothschild's (1977)
concept of situational involvement may
3 A new customised scale could be of value: provide additional insight into customer
. The study indicates that financial involvement). The latter could prove
services may require a customised valuable for understanding customers'
measure of consumer involvement. purchase and use of financial services in
Although established theory could be a different contexts.
useful point of departure for learning With the increasing development of the
about customer involvement, some disintermediated (Internet, telephone)
variables and dimensions in the CIP banking customers' usage of, and decisions
and PII appear to be irrelevant to this about, financial services may be affected by
sector. Although these two scales concerns over issues such as privacy,
[ 238 ]
Abdullah H. Aldlaigan and
Francis A. Buttle
Consumer involvement in
financial services: an
empirical test of two
measures
International Journal of Bank
Marketing
19/6 [2001] 232±245
Table VII
Correlation between CIP and PII total scores for the eight financial services
Investment Mortgage
(PII*CIP) 0.437 0.158
Significance (2-tailed) 0.135 0.452
N 13 25
Note: significance level was measured at 5 per cent
assurance, security, technology failure, risk
of technological errors, fraud or other factors
out of customers' control. These are likely to
impact on levels of perceived risk and,
therefore, involvement.
Conclusion
The purpose of this exploratory study was to
test the merit of two scales, the PII and CIP,
for measuring consumer involvement in the
financial services context. Eight financial
services were tested. There are three main
findings:
1 not all services are equal in involvement;
2 the scales measure different latent
dimensions of involvement;
3 there is a need to develop a customised
instrument to measure involvement in
this context.
This could be of benefit for understanding the
dynamics of customer-bank interaction in
relation to financial services. The rapid
development of financial services based on
different customers' needs highlights the
importance of investigating this area. Also,
the increasing use of banking technology
could impact on involvement profiles.
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Savings Personal Switch Cash Cheque
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0.300 0.459 0.796 0.015 0.000 0.214
44 21 25 37 50 48
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T.K. (Ed.), Advances In Consumer Research,
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Ego-involvement: Social Attitudes and
Identifications, John Wiley and Sons, New
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Judgment: Assimilation and Contrast Effects
in Communication and Attitude Change, Yale
University Press, New Haven, CT.
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Attitude and Attitude Change: the Social
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Abdullah H. Aldlaigan and Zaichkowsky, J.L. (1986), ``Conceptualizing Goldsmith, R.E. and Emmert, J. (1991),
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Engel, J.F. and Blackwell, R.D. (1982), Consumer second look'', Advances in Consumer
Behavior, Holt-Saunders, Japan. Research, Vol. 8, pp. 31-4.

Appendix

Table AI
The original PII scale
Object: (.................................................................)
1 Important ___: ___: ___: ___: ___: ___: ___: ___: Unimportant*
2 Of no concern to me ___: ___: ___: ___: ___: ___: ___: ___: Of concern to me
3 Irrelevant ___: ___: ___: ___: ___: ___: ___: ___: Relevant
4 Means a lot to me ___: ___: ___: ___: ___: ___: ___: ___: Means nothing to me*
5 Useless ___: ___: ___: ___: ___: ___: ___: ___: Useful
6 Valuable ___: ___: ___: ___: ___: ___: ___: ___: Worthless*
7 Trivial ___: ___: ___: ___: ___: ___: ___: ___: Fundamental
8 Beneficial ___: ___: ___: ___: ___: ___: ___: ___: Not beneficial*
9 Matters to me ___: ___: ___: ___: ___: ___: ___: ___: Does not matter*
10 Uninterested ___: ___: ___: ___: ___: ___: ___: ___: Interested
11 Significant ___: ___: ___: ___: ___: ___: ___: ___: Insignificant
12 Vital ___: ___: ___: ___: ___: ___: ___: ___: Superfluous*
13 Boring ___: ___: ___: ___: ___: ___: ___: ___: Interesting
14 Unexciting ___: ___: ___: ___: ___: ___: ___: ___: Exciting
15 Appealing ___: ___: ___: ___: ___: ___: ___: ___: Unappealing*
16 Mundane ___: ___: ___: ___: ___: ___: ___: ___: Fascinating
17 Essential ___: ___: ___: ___: ___: ___: ___: ___: Nonessential*
18 Undesirable ___: ___: ___: ___: ___: ___: ___: ___: Desirable
19 Wanted ___: ___: ___: ___: ___: ___: ___: ___: Unwanted*
20 Not needed ___: ___: ___: ___: ___: ___: ___: ___: Needed
Note: *Reverse order

[ 240 ]
Abdullah H. Aldlaigan and
Francis A. Buttle
Consumer involvement in
financial services: an
empirical test of two
measures
International Journal of Bank
Marketing
19/6 [2001] 232±245
Table AII
The CIP original items
Product perceived importance (interest)
1 What . . . . . . . . . . I buy is extremely important to me
2 I am really very interested in . . . . . . . . . .
3 I could not care less about . . . . . . . . . . (or: . . . . . . . . . . is something which leaves me quite cold)
Hedonic value (pleasure)
1 I really enjoy buying . . . . . . . . . .
2 Whenever I buy . . . . . . . . . . , it is like giving myself a present
3 To me, . . . . . . . . . . is quite a pleasure (or: I quite enjoy . . . . . . . . . . )
Perceived sign value
1 You can tell a lot about a person from the . . . . . . . . . . he or she buys
2 The . . . . . . . . . . a person buys, says something about who they are
3 The . . . . . . . . . . reflects the sort of person I am
Perceived risk importance (negative consequences of a mispurchase)
1 It does not matter if one makes a mistake by buying . . . . . . . . . .
2 It is very irritating to buy . . . . . . . . . . which is not right
3 I should be annoyed with myself, if it turned out I had made the wrong choice when buying . . . . . . . . . .
Subjective probability of a mispurchase (probability of error)
1 When I am in front of the . . . . . . . . . . section, I always feel rather unsure about what to pick
2 When you buy . . . . . . . . . . , you can never be quite sure it was the right choice or not
3 Choosing a . . . . . . . . . . is rather difficult
4 When you buy . . . . . . . . . . , you can never be quite certain about your choice
Note: Measurement: a five-point Likert scale: 1 = strongly disagree to 5 = strongly agree

Table AIII
Defining the CIP dimensions and items. Dimensions definitions and measurement items
Dimension's No. of items Keywords
Definition of dimension code used in this study Measures no.
Personal interest and meaning:
``The interest a person has in a banking PIM 3 Extremely important PIM1
service category, its meaning Interested in PIM2
or importance'' Care less PIM3
Perceived hedonic value:
``Banking service's ability to provide or PHV 3 Enjoy PHV1
be a mediator of pleasure and enjoyment Reward or present to myself PHV2
to the consumer'' Quite a pleasure PHV3
Perceived sign value:
``The degree to which the banking PSV 3 You can tell a lot about a person PSV1
services express the person's self Reflects the sort of person PSV2
to others'' Says something about who you are PSV3
Perceived risk importance:
``The perceived importance of PRI 3 It does not matter too much to make mistakes PRI1
negative consequences of Irritating to . . . . . . . . . . PRI2
a mispurchase'' Be annoyed with myself PRI3
Perceived probability of error:
``The subjective probability of PPE 3 Unsure about PPE1
mispurchase of the Difficult to choose PPE2
banking serivces'' Never be quite certain PPE3
Notes: IM = interest/meaning; SV = sign value; HV = hedonic value (pleasure); PPE = perceived probability of error; PRI = perceived risk importance;
Measurement: a five-point Likert scale: 1 = strongly disagree to 5 = strongly agree.
Items for each facet are borrowed from Kapferer and Laurent (1993, p. 349)

[ 241 ]
Abdullah H. Aldlaigan and Table AIV
Francis A. Buttle Descriptive statistics for the PII scale
Consumer involvement in
financial services: an Overdraft Switch services Cash machine Cheque book
empirical test of two
measures PII items N Mean PII items N Mean PII items N Mean PII items N Mean
International Journal of Bank Importance 28 6.2143 Beneficial 39 5.7949 Importance 52 6.6346 Useful 54 6.2963
Marketing
19/6 [2001] 232±245 Useful 28 6.1786 Importance 39 5.7436 Useful 52 6.5000 Important 54 6.2222
Relevant 28 5.8929 Useful 39 5.7436 Needed 52 6.3462 Needed 54 6.0556
Valuable 28 5.8929 Wanted 39 5.7179 Beneficial 52 6.3269 Beneficial 54 6.0370
Concern 28 5.7143 Valuable 39 5.5897 Concern 52 6.3077 Relevant 53 5.9623
Beneficial 28 5.7143 Concern 39 5.5128 Essential 52 6.2500 Valuable 54 5.8148
Needed 28 5.5714 Relevant 39 5.4615 Relevant 52 6.1923 Matters to me 54 5.7407
Matters to me 28 5.5000 Needed 39 5.4615 Valuable 52 6.1923 Essential 54 5.7037
Essential 27 5.4444 Desirable 38 5.3947 Wanted 52 6.1923 Wanted 54 5.7037
Meaning 28 5.4286 Matters to me 39 5.1538 Matters to me 52 5.9423 Concern 53 5.6415
Significant 27 5.3333 Essential 39 5.1026 Meaning 52 5.9231 Fundamental 54 5.5741
Wanted 28 5.2857 Vital 39 5.0513 Desirable 52 5.9038 Vital 54 5.5000
Vital 28 5.2500 Trivial 39 4.9231 Vital 52 5.6731 Significant 52 5.3462
Trivial 28 5.0357 Meaning 39 4.7436 Trivial 52 5.6346 Desirable 54 5.3148
Desirable 28 5.0357 Significant 39 4.7436 Significant 52 5.5577 Means a lot 54 5.1481
to me
Interested 28 4.8929 Interested 39 4.4359 Interested 52 4.9615 Interested 53 4.9434
Appealing 27 4.3704 Appealing 39 4.3077 Appealing 52 4.3077 Appealing 54 4.0000
Boring 28 3.9286 Boring 39 4.0256 Fascinating 52 3.9615 Interesting 52 3.6346
Exciting 28 3.6071 Exciting 39 3.9487 Boring 52 3.8846 Exciting 54 3.4630
Fascinating 28 3.5000 Fascinating 39 3.8718 Exciting 52 3.8654 Fascinating 54 3.3519
Saving services Investment services Personal loan Mortgage services
PII items N Mean PII items N Mean PII items N Mean PII items N Mean
Importance 46 6.3261 Importance 15 6.6000 Useful 22 6.2273 Importance 30 6.8000
Relevant 46 5.9783 Relevant 15 6.5333 Importance 23 6.2174 Concern 30 6.6000
Useful 46 5.9783 Useful 15 6.4667 Needed 23 6.0870 Beneficial 30 6.4667
Beneficial 46 5.9783 Concern 15 6.4000 Relevant 23 6.0435 Relevant 29 6.4138
Concern 46 5.9348 Valuable 15 6.3333 Valuable 23 5.9130 Useful 30 6.4000
Needed 46 5.9130 Beneficial 15 6.3333 Concern 23 5.8696 Essential 30 6.3667
Essential 46 5.8696 Vital 15 6.2000 Beneficial 23 5.8261 Needed 30 6.3667
Wanted 46 5.8478 Wanted 15 6.2000 Essential 23 5.7826 Wanted 30 6.3333
Valuable 46 5.8261 Meaning 15 6.1333 Wanted 23 5.7826 Valuable 30 6.2333
Significant 46 5.8043 Matters to me 15 6.1333 Vital 23 5.7391 Trivial 29 6.2069
Vital 46 5.8043 Trivial 15 6.0667 Significiant 23 5.6522 Matters to me 30 6.1667
Desirable 46 5.7391 Significiant 15 6.0667 Matters to me 23 5.6087 Vital 30 6.1333
Matters to me 46 5.6957 Desirable 15 6.0000 Desirable 23 5.5652 Meaning 30 6.1000
Meaning 46 5.6087 Needed 15 6.0000 Trivial 23 5.4783 Significant 30 6.1000
Trivial 46 5.6087 Essential 15 5.9333 Meaning 23 5.3478 Desirable 30 6.1000
Interested 45 5.1111 Interested 15 5.1333 Interested 23 4.5652 Interested 30 5.4000
Appealing 46 4.5870 Fascinating 15 5.0000 Appealing 23 4.4783 Appealing 30 4.4333
Boring 46 4.1957 Boring 15 4.8000 Exciting 23 4.0000 Boring 30 4.1333
Exciting 46 4.0000 Exciting 15 4.6667 Boring 23 3.9565 Fascinating 29 3.8621
Fascinating 46 3.9348 Appealing 15 4.4667 Fascinating 23 3.4783 Exciting 30 3.8333

[ 242 ]
Abdullah H. Aldlaigan and Table AV
Francis A. Buttle CIP item analysis for the eight financial services
Consumer involvement in
financial services: an CIP item N Mean
empirical test of two
measures Overdraft
International Journal of Bank RI1: It does not matter too much if one makes a mistake when going overdrawn 31 4.1935
Marketing RI2: It is very irritating to go overdrawn and latter discover it was unnecessary 31 4.1613
19/6 [2001] 232±245
IM3: I could not care less about using an overdraft facility 31 3.8065
RI3: I should be annoyed with myself, if I used my overdraft facility incorrectly 30 3.7000
IM1: An overdraft facility is extremely important to me 31 3.5484
SV2: Using an overdraft facility says something about who you are 31 2.8387
SV1: You can tell about a person from his/her use of an overdraft facility 31 2.7742
PE2: It is rather difficult to decide whether to go overdrawn or not 31 2.7097
PE3: You can never be quite certain of your choice when you go overdrawn 30 2.7000
SV3: Using an overdraft facility reflects the sort of person I am 31 2.6774
PE1: When I am about to go overdrawn, I always feel rather unsure about my decision 31 2.5806
IM2: I am really very interested in using an overdraft facility 31 2.5484
HV3: To me, it is quite a pleasure to have an overdraft 31 1.9355
HV1: I really enjoy using an overdraft facility 31 1.6774
HV2: Whenever I go overdrawn, it is like giving myself a present 31 1.4839

Switch services
RI1: It does not matter too much if one makes a mistake when choosing to pay by 38 3.6579
Switch
IM1: The ability to pay by Switch is extremely important to me 39 3.5641
IM3: I could not care less about paying by Switch 39 3.4103
IM2: I am really very interested in being able to pay by Switch 39 3.2308
RI3: I should be annoyed with myself, if my choice to pay by Switch turned out to be the 38 3.2105
wrong one
HV3: To me, it is quite a pleasure to pay by Switch 39 3.0513
RI2: It is very irritating to pay by Switch, and latter discover it was inappropriate 38 2.8947
HV1: I really enjoy paying by Switch 39 2.7692
SV1: You can tell a lot about a person who pays by Switch 39 2.3846
PE3: You can never be quite certain about your choice when paying by Switch 39 2.3590
SV2: Paying by Switch says something about who you are 39 2.3590
SV3: Paying by Switch reflects the sort of person I am 39 2.2051
PE1: When I have a choice of using Switch, I always feel rather unsure about using it 39 2.0000
PE2: Choosing to pay by Switch is rather difficult 39 2.0000
HV2: Whenever I pay by Switch, it is like giving myself a present 39 1.8718

Cash machine
IM1: The facilities of a cash machine are extremely important to me 52 4.3462
RI1: It does not matter too much if I make a mistake when using a cash machine 54 3.9444
IM3: I could not care less about using the cash machine 54 3.2778
HV3: To me, it is quite a pleasure to use a cash machine 54 3.2593
RI3: I should be annoyed with myself, if it turned out I had made the wrong choice when 54 3.2037
using a cash machine
IM2: I am really interested in using a cash machine 54 3.1481
RI2: It is very irritating to use a cash machine, and latter discover it was inappropriate 54 2.9444
HV1: I really enjoy using a cash machine 54 2.8333
SV2: Using a cash machine says something about who you are 54 2.1667
SV1: You can tell a lot about a person who uses a cash machine 54 2.1481
PE3: You can never be quite certain about your choice when using a cash machine 54 2.1111
SV3: Using a cash machine reflects the sort of person I am 54 2.1111
HV2: Whenever I use a cash machine, it is like giving myself a present 54 1.9444
PE2: Deciding to use a cash machine is rather difficult 54 1.7963
PE1: When I am about to use a cash machine, I always feel rather unsure about what 54 1.5370
facility to choose
(Continued)

[ 243 ]
Abdullah H. Aldlaigan and Table AV
Francis A. Buttle
Consumer involvement in CIP item N Mean
financial services: an
empirical test of two Cheque book
measures RI1: It does not matter too much if I make a mistake when using my cheque book 58 4.2931
International Journal of Bank IM1: A cheque book is extremely important to me 61 3.8525
Marketing
19/6 [2001] 232±245 RI3: I should be annoyed with myself, if it turned out I had used the wrong form of 58 3.1379
payment when paying by a cheque
IM3: I could not care less about using a cheque book 61 3.0820
HV3: To me, it is quite a pleasure to pay by cheque 60 2.7833
RI2: It is very irritating to use a cheque book, and latter discover it was inappropriate 58 2.7414
HV1: I really enjoy using a cheque book 60 2.4667
IM2: I am very interested in using a cheque book 61 2.3279
PE3: You can never be quite certain about choosing to pay by a cheque 60 2.0833
PE2: Deciding to pay by a cheque is rather difficult 60 2.0333
SV3: Using a cheque book reflects the sort of person I am 61 2.0000
SV1: You can tell a lot about a person who pays by a cheque 60 1.9833
SV2: Using a cheque book says something about who you are 60 1.9500
PE1: When I am deciding to pay by a cheque, I always feel rather unsure of the result 61 1.7705
HV2: When using a cheque book, it is like giving myself a present 59 1.5932

Savings account
IM1: A savings account is extremely important to me 51 3.8039
IM3: I could not care less about holding a savings account 51 3.7843
HV3: To me, it is quite a pleasure to hold a savings account 51 3.7059
RI3: I should be annoyed with myself, if it turned out I had made a wrong choice 50 3.6800
regarding a savings account
RI1: It does not matter too much if I make a mistake when using my savings account 50 3.6600
IM2: I am really very interested in holding a savings account 51 3.5490
HV1: I really enjoy holding a savings account 51 3.4118
PE2: It is rather difficult to choose a savings account 51 3.3529
RI2: It is very irritating to use a savings account, and latter discover it was inappropriate 51 3.3137
SV2: Holding a savings account says something about who you are 51 2.9412
PE3: You can never be quite certain of choosing a savings account 50 2.9200
SV3: Holding a savings account reflects the sort of person I am 51 2.7451
SV1: You can tell a lot about a person who holds a savings account 50 2.7000
PE1: You always feel rather unsure about choosing a savings account 51 2.6667
HV2: Whenever I use a savings account, it is like giving myself a present 51 2.4314

Investment services
RI1: It does not matter too much if I make a mistake when I invest 15 4.3333
RI2: It is very irritating to decide on investment services and latter discover it was 15 4.2667
inappropriate
RI3: I should be annoyed with myself, if it turned out I had chosen the wrong investment 15 4.1333
services
PE2: It is rather difficult to choose an investment service 15 3.8000
IM3: I could not care less about using investment services 15 3.7333
IM1: Investing is extremely important to me 15 3.6667
PE3: When investing, you can never be quite certain about your choice 14 3.6429
IM2: I am really interested in investing 15 3.6000
HV3: To me, it is quite a pleasure to invest 15 3.5333
PE1: When you are about to invest, you always feel rather unsure about your choice 15 3.5333
HV1: I really enjoy investing 15 3.3333
SV3: Using investment services reflects the sort of person I am 15 3.2667
SV2: Investing says something about who you are 15 3.0667
SV1: You can tell a lot about a person who uses investment services 15 3.0000
HV2: Whenever I invest, it is like giving myself a present 15 2.8000
(Continued)

[ 244 ]
Abdullah H. Aldlaigan and Table AV
Francis A. Buttle
Consumer involvement in CIP item N Mean
financial services: an
empirical test of two Personal loan
measures RI3: I would be annoyed with myself, if I committed to a personal loan incorrectly 26 4.2692
International Journal of Bank RI2: It is very irritating to decide on a personal loan and latter discover it was 26 4.1538
Marketing
19/6 [2001] 232±245 inappropriate
RI1: It does not matter too much if I make a mistake when deciding on a personal loan 26 3.9615
IM1: A personal loan is extremely important to me 26 3.6538
PE2: It is rather difficult to decide on a personal loan 26 3.5385
IM3: I could not care less about having a personal loan 26 3.3846
PE1: When I am about to decide on a personal loan, I always feel rather unsure about my 26 3.3077
decision
PE3: You can never be quite certain of your choice of having a personal loan 26 3.1538
IM2: I am really very interested in having a personal loan 26 3.0385
SV1: You can tell a lot about a person who has a personal loan 26 2.6538
SV2: Having a personal loan says something about who you are 26 2.5769
SV3: Having a personal loan reflects the sort of person I am 26 2.5385
HV2: Whenever I have a personal loan, it ls like giving myself a present 26 2.2308
HV3: To me, it is quite a pleasure to have a personal loan 26 2.2308
HV1: I really enjoy having a personal loan 26 2.1923

Mortgage services
RI1: It does not matter too much if I make a mistake when I am buying a mortgage 31 4.5484
RI3: I should be annoyed with myself, if I bought the wrong mortgage 31 4.2581
IM1: A mortage is extremely important to me 31 4.1613
RI2: It is very irritating to buy a mortgage and latter discover it was inappropriate 31 4.0968
IM3: I could not care less about buying a mortgage 31 4.0645
PE2: It is rather difficult to decide on a mortgage 30 3.8667
PE1: When I am searching for a mortgage, I always feel rather unsure about what 31 3.7419
mortgage to choose
PE3: You can never be quite certain about your choice when buying a mortgage 31 3.5806
SV3: Having a mortgage reflects the sort of person I am 31 2.8387
IM2: I am really interested in buying a mortgage 30 2.7667
SV2: Buying a mortgage says something about who you are 31 2.7419
SV1: You can tell a lot about a person who has a mortgage 30 2.7333
HV3: To me, buying a mortgage is quite a pleasure 31 2.5161
HV1: I really enjoy buying a mortgage 31 2.2581
HV2: Buying a mortgage is like giving myself a reward 31 2.0323
Notes: Mean values for the CIP items are used for each of the eight financial services. These items are sorted,
based on the highest mean value to indicate the highest involvement items for each financial service
IM = interest/meaning; SV = sign value; HV = hedonic value (pleasure); PPE = perceived probability of error;
PRI = perceived risk importance

[ 245 ]