Chapter 12: Using the eclectic paradigm as a theoretical lens to examine the performance outcomes of financial services exporters
It is widely argued that theoretical developments have not kept pace with the rapid globalization of services (çlvarez-Gil et al., 2003; Bianchi, 2011; Contractor et al., 2003), especially financial services (Argouslidis, 2008; Wong et al., 2008). Most research in the export marketing literature, for example, has focused on the determinants of export marketing performance in manufacturing industries (e.g. Evans et al., 2000; Wang et al., 2013). Yet the services marketing literature has long argued that the nature of goods and services are different (Freeman and Sandwell, 2008; Langford and Cosenza, 1998; Styles et al., 2005). Numerous authors have argued that services and their innovations comprise unique attributes which distinguish them from product or manufacturing innovations, such as their intangible nature, inseparability, and enhanced interactivity between client and firm (Bianchi, 2011; Blind and Hipp, 2003; Chapman and Hyland, 2003; Love and Ganotakis, 2013). La et al. (2005) argue that inseparability and intangibility are particularly relevant with regard to services exporting. Inseparability means that production and consumption typically occur simultaneously, as in the case of financial services, implying both that storage and inventory management is effectively impossible, and that a high degree of interaction with the customer is often required. The intangibility dimension relates to the fact that services are (generally) not physical goods, although there may be some form of intellectual property embodied in a physical form, such as a financial or insurance package/trademark (Love and Ganotakis, 2013).
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