Abstract

For the youth, word of mouth (WOM) is an influential marketing tool in determining their bank selection decisions. The extent to which WOM influences the youth in selecting their banks depends on the amount of trust they might have in the source of WOM and how experienced said source is with the bank that they are recommending. This study found that WOM sources are of two types: personal and impersonal. Among the personal sources identified in this study, the study found WOM from parents who have accounts in the recommended banks is the most influential. Among the impersonal sources, the study found that online reviews posted in specialized media have the most impact on young people’s bank selection decisions.

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