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Life Style Patterns and Commercial Bank Credit Card Usage Author(s): Joseph T. Plummer Source: Journal of Marketing, Vol. 35, No. 2 (Apr., 1971), pp. 35-41Published by: American Marketing AssociationStable URL: http://www.jstor.org/stable/1249914Accessed: 02-10-2015 03:20 UTC

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Life Style Patterns and

Commercial Bank Credit Card Usage

JOSEPH T. PLUMMER

Are commercial bank card users more involved in com- munity activities? Are male and female users interested in new trends? What role do charge cards play in the user's life style? What are the aspirations of card users? Life style research is utilized in this study to provide new insights into ways of mar- keting and advertising bank charge cards.

OMMERCIAL bank charge cards are being used by more American consumers in their purchasing behavior than ever

before. The two major bank credit cards-Master Charge and Bank Americard-are issued by over 6,000 banks, and each claims slightly more than 20 million holders.1 The number of users of bank credit cards is steadily on the increase and has become an area of consumer behavior that has received recent attention in the marketing literature.

Two studies by Professors Mathews and Slocum found a num- ber of interesting and useful relationships between social class and income and the usage of bank credit cards.2 For instance, they found that "members of the lower social classes tend to use their cards for installment purposes; upper classes for conve- nience."3 Further, their results indicated that all users had a favorable general attitude toward credit; however, installment users tended to use their cards more frequently. Their study also indicated that "the upper classes are generally favorable toward using credit to purchase 'luxury' goods, and the lower class users tended to use their cards for 'durable' and 'necessity' goods."4

To explain these relationships, Mathews and Slocum invoked many of the life style differences and value orientations between social classes that have been found in sociological research. For example, the finding that installment users place a low emphasis on saving and do not defer gratification was drawn from socio- logical studies. These concepts were used to explain the differ- ences found between the lower class' tendency toward installment purchases and the upper class' tendency toward convenience use.

This article provides additional insights into the differences existing between users and nonusers of commercial bank charge cards along "life style" dimensions. However, the evidence in this case is derived from direct study of the life styles of users and nonusers, rather than from inferences drawn from measurements of social class and income segments. Many of the findings concur with and supplement those of Mathews and Slocum, but some provide evidence contrary to their results. This study also suggests some new dimensions for future consideration.

Journal of Marketing, Vol. 35 (April, 1971), pp. 35-41.

1Paul O'Neil, "A Little Gift From Your Friendly Banker," Life (March 27, 1970), pp. 48-58.

2 H. Lee Mathews and John W. Slocum, Jr., "Social Class and Com- mercial Bank Credit Card Usage," JOURNAL OF MARKETING, Vol. 33 (January, 1969), pp. 71-78; and "Social Class and Income as Indi- cators of Consumer Credit Behavior," JOURNAL OF MARKETING, Vol. 34 (April, 1970), pp. 69-74.

3 Same reference as footnote 2, p. 76. 4 Same reference as footnote 2, p. 75.

35

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36 Journal of Marketing, April, 1971

Nature of the Study Data for the present study were derived from

a nationwide survey of activities, interests, and opinions of female homemakers and male heads of households---called "life style research."5 The study was sponsored jointly by the Leo Burnett Company, Inc., and Market Facts, Inc., and con- ducted in the fall of 1968. A sample of 1,000 representative female homemakers and a separate sample of 1,200 male heads of households were utilized from Market Facts' national mail panels. The base of usable questionnaires consisted of 858 women and 987 men; the demographic composition of each sample was very close to U.S. Census figures.

Life style research is designed to indicate the differences between heavy users and light or non- users of a product in terms of their life styles or their activities; i.e., how they spend their time; their interests; what is of importance in their immediate surroundings; their opinions; where they stand on important issues; and their demo- graphics. A wide range of activities, interests, and opinions is covered in life style research through 300 statements that have been developed from pre- vious research.6 These 300 Activity, Interest and Opinion statements (AIO's) measure such activi- ties as club membership, community organizations, hobbies, travel, shopping, work, and entertainment. The kinds of interests and opinions that are rep- resented in the 300 AIO statements are interest in their home, their family, and their community, and opinions on such topics as economics, fashion, politics, business, and mass media. Each of the 300 AIO statements is rated by a respondent on a six- point agreement scale.

Three types of information were collected in order to determine the differences between product users and nonusers. First, each respondent indi- cated his level of agreement along the six-point scale for each of the 300 AIO statements. Second, each person specified his "average usage" of over 125 products. In the case of bank charge card usage, individuals were asked the following ques- tion: "Thinking of all members of your family, how many times in the average month do all mem- bers of your family use a bank charge card?" Finally, the demographics of the respondents were collected.

From these three sets of data (AIO, demo-

graphics, and product usage), a portrait of the heavy user of a product was constructed via Pear- son Product Moment correlation analysis relating the level of agreement on each of the 300 AIO statements and the demographic characteristics with product usage across the total sample of respondents. Only those AIO and demographic characteristics that indicated a significant linear correlational relationship with product usage were used to construct the portrait. These significant correlations indicated the differences, on a prob- abilistic basis, between heavy users and light or nonusers of a product. (In the case of bank charge cards, the light and heavy users were combined for analysis as each cell alone was quite small for presentation.) The emphasis in the analysis was on "clusters" of statements rather than individual statements, since there was considerable "noise" in the system, and dependence on a single item may have been misleading. What constituted a "cluster" is based partly on judgment of which similar AIO statements appeared together in the analysis and on AIO R-factors described in the analysis by Wells and Tigert.7 In that study a principal components R-factor analysis was con- ducted on the 300 AIO items to discover the major life style dimensions existing in the inventory.

An example of this approach to the analysis would be to examine the following statements that differentiated the female user from the female non- user of bank charge cards:

a. I am an active member of more than one ser- vice organization.

b. I would like to be a fashion model. c. I am a homebody. d. I do volunteer work for a hospital or service

organization on a fairly regular basis. On the basis of judgment, statements a and d

seem to be similar in that they appear to be mea- suring the same phenomenon. Examination of the R-factor-analysis results by Wells and Tigert sup- ports this judgment since they both load signifi- cantly on the factor titled "Community-minded." This "cluster" of several items provides a more reliable basis for analysis than do single items.

5 William D. Wells and Douglas J. Tigert, "Activities, Interests and Opinions," Journal of Advertising Re- search (in press); and William D. Wells, "It's a Wyeth, Not a Warhol, World," Harvard Business Review, Vol. 48 (January-February, 1970), pp. 26-30.

6 Wells and Tigert, same reference as footnote 5; C. C. Wilson, "Homemaker Living Patterns and Marketplace Behavior-A Psychometric Approach," in New Ideas for Successful Marketing, J. S. Wright and J. L. Goldstucker, eds. (Chicago, Illinois: Ameri- can Marketing Association, 1966).

7 Wells and Tigert, same reference as footnote 5.

* ABOUT THE AUTHOR. Joseph T. Plummer is manager of copy and cre- ative research at Leo Burnett Com- pany, Inc., Chicago. He received his PhD in communications from The Ohio State University in 1967. Dr. Plummer has published articles in the Journal of Broadcasting and Educational Broad- cast Review.

Dr. Plummer has been involved in several national studies on the life style of consumers and applications of these findings in the creation of more effective communication.

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Life Style Patterns and Commercial Bank Credit Card Usage 37

TABLE 1 DEMOGRAPHIC CHARACTERISTICS OF

BANK CHARGE CARD USERS AND NONUSERS

Male Sample Female Sample 1967

User Users Nonusers Total User Users Nonusers Total User Indexa (183) (804) (987) Index (150) (708) (858) Index

Under 25 57 4%c,4

8% 7% 109 12% 11%7( 11% 104 25-34 124 26 20 21 121 23 19 19 140 35-44 95 21 22 22 104 24 21 23 130 45-54 110 22 19 20 95 19 20 20 65 55+ 87 26 31 30 63 17* 29 27 70 Less than high school 44 12* 30 27 67 14* 24 21 70 High school graduate 97 38 40 39 103 41 40 40 97 College 147 50* 30 34 118 45* 36 38 127

Under $4,999 44 11* 25 25 67 16* 24 24 42 $5,000-$7,999 100 19 22 19 58 14 19 24 79 $8,000-$9,999 94 16 17 17 106 17 15 16 90 $10,000-$14,999 128 32* 24 25 157 36* 20 23 148 $15,000 and over 157 22: 12 14 131 17* 12 13 130

Craftsman 82 32" 41 39 94 29 32 31 80 Clerical and Sales 100 16 15 16 121 17 13 14 112 Managerial 104 24 23 23 86 18 21 21 90 Professional 145 16* 10 11 190 19* 9 10 173 Other 109 12 11 11 71 17* 25 24 77

NOTE: *Significant at the .05 level, using "t" test for significance of two sample proportions (two-tailed test).

a (User Index % of segment who are users ). The higher the User Index for a demographic segment the %0 of segment in total sample

more overrepresented is that demographic among users than its representation in the total sample which suggests richness of potential.

The Findings Seventeen percent of the life style sample were

users of bank charge cards. Ten percent used their charge card less than three times in an average month, and 7% used their card three or more times in an average month. This 17% corresponds with a comparable usage figure of 12% in the 1967 life style study. The percentage of bank charge card users is quite small, however, when compared to more established credit cards, such as gasoline cards, which are carried by 62% of the sample.

Table 1 sets forth the demographics of male and female card users and discloses that a surprising proportion did not go beyond high school and earn less than $8,000 a year. This point was also ex- pressed in the previous studies by Mathews and Slocum.8 However, when one examines the card usage of the demographic segments relative to their representation in the total sample, it is evi- dent that card usage is considerably greater among people with higher incomes and better education. This fact is illustrated by the large proportional differences between users and nonusers as shown in the User Index column in Table 1. Thus, in terms of potential markets, the data suggest the richness of potential among higher income, better educated, and more professional demographic seg- ments.

The Male Bank Charge Card Users These individuals lead an active, urbane, and

upper socioeconomic style of life congruent with their higher income, position, and education. This type of person agrees with many statements, more than the nonuser, which seem to typify the popu- lar stereotypes of the successful man on the rise as shown in Table 2.

The picture of the suburban businessman arriv- ing home from the office and having a cocktail, settling down to a nice meal, and then going off to various activities is reinforced by his agreement with the following statements:

"I would rather live in or near a big city than in or near a small town." "I often have a cocktail before dinner." "We often serve wine at dinner." "I do more things socially than most of my friends." "I enjoy going to concerts." "I like ballet." "I like to think I am a bit of a swinger."

And his disagreement relative to nonusers with the following statements:

"I stay home most evenings." "There are day people and there are night peo- ple. I am a day person." "My days seem to follow a definite routine such as eating meals at a :regular time."

All of these statements were found to significantly 8 Same reference as footnote 2, pp. 73 and 71.

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38 Journal of Marketing, April, 1971

TABLE 2 CROSS-TABULATION RESULTS OF AIO AGREEMENT

WITH MALE BANK CHARGE CARD USAGE

Card Users Noncard Users Definite Definite

and General and General # Statement Agreement Agreement 8. I enjoy going to concerts. 25% 17%

10. A woman's place is in the home. 27 41 17. In my job I tell people what to do. 53 21 18. I am a good cook. 36 26 23. My greatest achievements are ahead of me. 56 42 24. I buy many things with a charge

or credit card. 39 22 29. We will probably move once in the

next five years. 46 37 39. Five years from now the family income will

probably be a lot higher than it is now. 71 60 42. Good grooming is a sign of self-respect. 52 71 53. There is too much advertising on TV today. 59 70 70. Women wear too much make-up today. 43 51 74. My job requires a lot of selling ability. 51 37 77. I like to pay cash for everything I buy. 26 67 86. Television is a primary source of our

entertainment. 25 40 94. Investing in the stock market is too risky

for most families. 47 56 109. To buy anything other than a house or car

on credit is unwise. 29 47 117. Young people have too many privileges today. 52 64 112. I love the outdoors. 54 76 126. There is too much emphasis on sex today. 52 64 130. There are day people and there are night

people; I am a day person. 58 69 135. I expect to be a top executive in the next

ten years. 44 27 152. I am or have been president of a society

or club. 51 36 174. I would like to have my boss' job. 42 33 175. A party wouldn't be a party without liquor. 29 17 177. I would rather live in or near a big city

than in or near a small town. 46 34 183. I often bet money at the races. 18 8 184. I like to think I'm a bit of a swinger. 38 26 194. I stay home most evenings. 62 71 198. Advertising can't sell me anything

I don't want. 55 68 200. I often have a cocktail before dinner. 36 20 202. I like ballet. 26 16 209. When I must choose between the two,

I usually dress for fashion, not comfort. 19 10 214. Liquor is a curse on American life. 34 49 217. Movies should be censored. 41 57 218. I read one or more business magazines

regularly. 34 18 230. I am active in two or more service

organizations. 28 17 248. I do more things socially than most

of my friends. 19 10 269. We often serve wine with dinner. 30 16 272. I buy at least three suits a year. 25 11 273. Playboy is one of my favorite magazines. 25 16 275. I spend too much time talking on the

telephone. 31 17 282. It is good to have charge accounts. 33 21 283. Hippies should be drafted. 48 61 286. When I think of bad health, I think of

doctor bills. 31 46 290. My days seem to follow a definite routine. 47 58

NOTE: All differences are significant above the .05 level based on Chi-square tests of significance.

differentiate him from the nonuser at the .01 level. He is a busy, young businessman on the rise

who knows where he is going since he agrees with: "I expect to be a top executive within the next ten

life style patterns reinforce the idea of the "upper "I spend too much time on the telephone." These life style patterns reinforce the idea of the "upper middle and upper class" conceptualized by Mathews

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Life Style Patterns and Commercial Bank Credit Card Usage 39

and Slocum as being people who "concern them- selves with individuality and achievement. Such people are highly trained and are responsible for decisions affecting other persons."9

The male charge card holder is aware of appear- ance and strives to maintain an appearance con- gruent with his work. He says, "I buy at least three suits a year"; "When I must choose between the two, I usually dress for fashion, not for com- fort"; and "I would consider using a hair spray intended for men." This dimension suggests that appearance is central to the man's life style, and from within this life style the purchase of a large amount of clothing such as fashionable suits is not functioning as a "luxury." It is a part of his life style and necessary for the role he is playing when interacting with others, which requires a certain level of appearance. Within other life styles, this particular dimension might function as a "luxury" as discussed in the previous study. Thus, the above finding suggests that to generally conceptualize consumer goods as being either "necessity" or "luxury" without taking into account various styles of life could sometimes be misleading.

A finding from the previous study that appears to receive additional support is that users perceive credit cards as providing a convenience over cash in every transaction. The user says significantly more than the nonuser: "I buy many things with a credit card or a charge card," and tends to dis- agree with the statement, "I like to pay cash for everything I buy."

Nothing thus far supports the findings by Mathews and Slocum that, "the upper classes' quest for distinction . . . is a salient factor affecting their credit-buying philosophy."'1 The life style data suggest that their primary orientation toward credit cards is as a convenience-a satisfactory substitute for cash-and not that the cards permit the purchase of items to aid their quest for dis- tinction which could not be obtained otherwise.

An interesting dimension of the user's life style emerges that was not brought out by Mathews and Slocum and that may be a salient factor in his usage and credit philosophy. Since commercial bank charge cards are a contemporary form of purchas- ing goods, persons with very strong traditional orientations, regardless of their class or financial status, might reject this contemporary, almost ab- stract, form of financial transaction. The male user supports this concept in that he disagrees more than the nonuser with such traditional, conserva- tive values as: "A woman's place is in the home"; "There is too much emphasis on sex today"; "Young people have too many privileges today"; "Movies should be censored"; and "Hippies should

be drafted." This individual is also willing to take certain risks and does not always need ultimate security. This orientation is indicated in his dis- agreement with, "Investing in the stock market is too risky for most families"; "It is important to shop around a lot before buying a car"; and "To buy anything other than a house or car on credit is unwise." Clearly this notion of "traditional, con- servative" versus "contemporary, risk-oriented" as a determinant of charge card usage and philosophy needs further research.

The final two life style dimensions emerging from this study are that the male user tends to belong to several organizations, and he con- siders reading a source of information and en- tertainment. He is involved with organizations out- side his job, as indicated by his statements, "I am or have been the president of a society or club," and "I am an active member of more than one service organization." Perhaps indicating where to reach the male charge card holder in magazines, he tells us that "Playboy is one of my favorite magazines," and "I read one or more business magazines regularly."

The Female Bank Charge Card User The female user also leads an active, upper

socioeconomic style of life, belongs to social organi- zations, and is concerned with her appearance. The picture of the suburban housewife seems to fit her. However, several differences are worth examining since they have some bearing on charge card usage. Two of the most pronounced differences are that the female charge card user shows a number of fantasies of potential roles or activities and tends to be less interested in housework than the non- user. Table 3 presents the significant AIO state- ments that differentiate the female card user from the nonuser. From the 25 statements that related to the female charge card user in the 1967 life style study, 19 statements also appeared in the 1968 study and are noted in the table.

The fantasy-orientation of the female user is indicated in dreams of travel, luxury items, and self-aspirations. Such fantasies are shown in her tendency to agree significantly more than the non- user with the following statements:

"I would like to spend a year in London or Paris." "I would like to take a trip around the world." "I would like to own and fly my own airplane." "If I had my way, I would own a convertible." "I would like to be an actress." "I would like to be a fashion model."

Whether this is pure fantasy or not, one can only conjecture. Her life style and socioeconomic status permit thoughts (or fantasies) about many poten- tial options. A different life style and lower status would prevent her from ever considering such

9 Same reference as footnote 2, p. 72. 10 Same reference as footnote 2, p. 75.

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40 Journal of Marketing, April, 1971

TABLE 3 CROSS-TABULATION RESULTS OF AIO AGREEMENT

WITH FEMALE BANK CHARGE CARD USAGE

Card Users Noncard Users Definite Definite

and General and General # Statement Agreement Agreement 8. I enjoy going to concerts.a 41% 32%

14. The next car our family buys will probably be a station wagon. 32 18

19. I usually have my dresses altered to the latest hemline levels.a 52 39

22. There should be a gun in every home. 13 27 24. I buy many things with a credit

or charge card.a 64 28 41. If I had my way, I would own a convertible." 17 7 45. I would like to own and fly my own airplane. 17 10 55. I would like to be a fashion model. 22 10 62. I would like to take a trip around the world." 70 57 73. I enjoy going through an art gallery. 51 42 77. I like to pay cash for everything I buy." 33 64 81. I bowl, play tennis, golf or other active

sports quite often., 28 14 84. I would like to be an actress. 16 6

101. I have more than ten pairs of shoes. 47 37 109. To buy anything other than a house or car

on credit is unwise." 21 36 123. Our family travels quite a lot.' 44 29 125. I belong to one or more clubs. 55 41 127. I must really admit I don't like

household chores. 40 32 141. I like to play bridge. 29 16 146. I like to be considered a leader." 33 22 151. I'd like to spend a year in London or Paris." 40 28 157. I would rather spend a quiet evening

at home than go out to a party. 31 45 165. I would like to know how to sew like

an expert. 68 77 177. I would rather live in or near a big city

than in or near a small town.a 47 28 183. I sometimes bet money at the races. 16 5 184. I like to think I am a bit of a swinger." 24 11 188. I am a homebody.a 44 58 194. I stay home most evenings. 63 73 200. I often have a cocktail before dinner. 21 9 202. I like ballet. 27 18 213. I like danger. 13 3 223. I do volunteer work for a hospital or

service organization on a fairly regular basis.a 27 11 230. I am an active member of more than

one service organization." 26 16 237. I enjoy most forms of housework. 36 47 248. I do more things socially than most

of my friends.a 23 11 258. Clothes should be dried in the fresh air

and sunshine." 26 37 269. Movies should be censored. 55 65 270. I would like a maid to do the housework. 41 27 282. It is good to have charge accounts." 62 41

"Statements appearing in both the 1967 and 1968 studies. NOTE: All differences are significant above the .05 level based on Chi-square tests

of significance.

thoughts. Her daily life appears full since she is involved in many activities outside the home. This active daily life is reflected in her agreement with the following statements: "I bowl, play tennis, golf or participate in other active sports quite often"; "I like to play bridge"; "I enjoy going through an art gallery"; and "I enjoy going to concerts." This variety of activities indicates a woman who not only possesses energy but also has some very specific cultural interests. One other side

of her active life outside her home is her interest in organizations. She says, "I am an active mem- ber of more than one service organization," and "I do volunteer work for a hospital or service organization on a fairly regular basis." It also appears from the agreement levels that these latter activities are something she has a certain commit- ment to rather than just "one more activity."

When examining the total profile of the female charge card holder, one receives the impression of

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Life Style Patterns and Commercial Bank Credit Card Usage 41

a woman who views her role of housewife as that of managing and purchasing as opposed to the more traditional view of a housewife's duties; i.e., cleaning, cooking, and caring for children. This role seems congruent with the usage of charge cards because she tends to control many aspects of purchasing, as contrasted with the concept of an allowance for only necessities given the house- wife by the husband. Adding to this view of her role, we see that in contrast to the nonuser of charge cards, she places less value on the more traditional skills of the housewife. She tends to disagree with "I would like to know how to sew like an expert"; "I enjoy most forms of house- work"; and "I am a homebody." She tends to agree more than the nonuser with "I would like a maid to do the housework" (which reflects a "managerial" point of view), and "I must admit I really don't like household chores." It appears, therefore, that this woman has a more contempo- rary view of the role of a housewife congruent with her life style, income, and better education when compared to the nonuser of charge cards.

Like her male counterpart, the female charge card holder also reflects a risk-orientation and a calculation of the future which might have some bearing on credit card usage. If a person is con- cerned with only the present and overextending himself, and not with the process of active acqui- sition, then he does not generally own a credit card. Both life styles appear to be an outcome of a stage in the life cycle of many affluent families in today's society, and the use of a credit card appears to fit into this pursuit of the "good life." This dimension was not brought out in the previous studies by Mathews and Slocum. Viewed from within this life style, the credit card, as a function in their lives, does not appear to allow individuals to ac- quire goods and services they might ordinarily have to do without, but rather allows them to acquire these items in a more convenient, contem- porary manner.

Summary This study of the male and female user of com-

mercial bank charge cards permits an analysis of their life styles beyond basic demographic and purchase data and has reinforced certain findings

of the previous studies by Mathews and Slocum. It has also gone beyond the previous studies to suggest some additional considerations about this "product." The basic demographic and usage data indicate a surprisingly widespread use of commer- cial bank charge cards across many demographic segments of the population. From the standpoint of potential market segments, however, the higher income, better-educated, middle-aged, and profes- sional segments are more prominent on the user index scale.

In addition to defining these demographic seg- ments more clearly, this study depicts certain as- pects of credit card users' life styles. In particular, it notes their contemporary thinking, risk-orienta- tion, and service organization affiliations that may or may not be characteristic of the majority of these demographic segments. The life style por- trait of the users indicates an active, upper socio- economic, urban-suburban life style with many in- terests outside the home. Both the male and female user indicate a convenience-orientation toward credit cards as a satisfactory cash substitute.

The previous studies' conceptualization of the upper-middle and upper classes as "achievement- oriented" and as "decision makers" appears to be supported and made more explicit in the present study of users' life styles.

This study has also revealed a hypothesis that did not emerge from the previous studies. It indi- cated that users of commercial bank charge cards, in contrast to nonusers, exhibit a "contemporary state of mind" and a rejection of conservative, traditional concepts. This is possibly a major detriment to usage beyond specific demographics or class variables. An adjunct to this hypothesis is the concept that the definition of a "luxury pur- chase" must be viewed from within various life styles and roles rather than broadly categorized for all groups.

Therefore, traditional concepts of money (i.e., financial transactions should be made in cash) and a conservative orientation toward one's life style may be major barriers to usage of bank cards which marketing and communications should se- riously consider. These dimensions should be uti- lized along with social class and income data as a basis for marketing planning.

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