Factors motivating consumers to switch brands of Mobile Financial Service (MFS) in Bangladesh

Abstract

This report on Factors motivating consumers to switch brands of Mobile Financial Service (MFS) in Bangladesh. The main concern of this report was to know how consumer psychology is diverted and how Mobile Financial Service providers influence the consumers to use their services was created for get the BBA program's requirements following a three-month internship at Nagad Ltd. Here, I thoroughly observed the tactics of business sales interns, along with the difficulties I faced and lessons I learned while doing the job. This research provides an overview of MFS's influence on consumers' thinking and their incentive to transfer brands, as well as the marketing strategies, operations, hiring methods, managements and other services the companies provide. Different types of analysis are carried out to determine the companies' contributions to digital banking and MFS industry in Bangladesh and the steps to boost financial inclusion; the first one, a comparison between Mobile Banking and Mobile Financial Service, provides insight into the development of the nation's Mobile Financial Industry. To provide a clear image of the monthly transactions and contributions in industry, some approximated numbers are collected from company insiders. Finally, to determine whether businesses are effectively reaching their potential clientele, it is important to acquire customer feedback regarding the services they receive from these businesses as well as their attitudes toward accepting the services supplied by rivals. A face-to-face survey was done with 100 randomly selected persons. Finally, the study's weaknesses are identified, and some insights were expressed to attract consumer gain.