CUSTOMERS ATTITUDE TOWARDS CREDIT AND

DEBIT CARD
Abstract

Digital technologies offer many opportunities in the design and implementation of brand
communication and advertising. Augmented reality (AR) and Virtual Reality (VR) are innovative
technologies in marketing communication that focuses on the fact that virtual interaction with a
product ad offers additional value to consumers. AR enables consumers to obtain (almost) real product
experiences by the way of virtual information even before the purchase of a certain product. Aim of
AR applications in relation with advertising is in-depth examination of product characteristics to
enhance product knowledge as well as brand knowledge. Interactive design of advertising provides
observers with an intense examination of a specific advertising message and therefore leads to better
brand knowledge. The study is conducted to empirically investigate the potential of AR and VR
applications in creating a good marketing experience. To that effect an experimental design with
different levels of interactivity is built to measure the impact of interactivity of an ad on different
variables o advertising effectiveness.

INTRODUCTION:

Virtual reality (VR) and augmented reality (AR) have both been getting a lot of media attention
recently and are aiming to hit the mainstream in the very near future. Nonetheless, there is still
some confusion about the difference between the two. They both count as Extended Reality
(XR), which means they are real-and-virtual environments generated by computer graphics. Both
VR and AR use some of the same types of technology and exist to present the user with an
enhanced or enriched experience. However, they differ very much in purpose and delivery
method, and the main difference is really in the immersion spectrum. Where augmented reality
adds virtual components such as digital images and graphics as a new layer of interaction with
the real world, virtual reality creates its own completely computer generated and driven reality.

To enter virtual reality, the user wears an HMD (head-mounted display) to be able to move and
look around the artificial world. The user can interact with this world with simple head movements
or by using a game controller type of device, depending of course on the application and HMD
being used.
Augmented reality is mostly used on mobile devices, using the devices’ camera to see the world
in AR. While seeing the live real-world environment, the viewer can also see computer-
generated graphics layered on top of it. Different AR applications can use GPS, image
registration and computer vision to have these AR graphics fit in and act more naturally with the
real world.
When it comes to VR and marketing, there are four big reasons why VR marketing campaigns
can be extremely successful. For one, wearing an HMD, the user is totally immersed in the
content and giving all his or her attention to the message. Secondly, the intensity of a VR
experience, at least now that it is still very new, is a lot greater than traditional media and creates
strong emotions in its users. Thirdly, as our brains are built to remember events linked to
locations, it means VR experiences will be a lot more memorable for the audience. Finally, early
adapters can most likely benefit from the high media and public interest in VR and enjoy
favourable media exposure. VR in marketing is immersive, impactful and memorable and solves
one of the huge problems marketers have with awareness and engagement. AR adds value to the
user experience as it has the unique ability to give users more information during a purchasing
process, or while visiting an attraction or attending an event. Additional info will start popping
out when aiming the smart phone’s camera at a specific picture for example. When given crucial
insight to the customer at the right time and the right place, it will greatly improve the user
experience.
4.1 VR and AR Marketing Examples in Different Industries

1.1.1 Sports
Starting from the sports industry,It is observed that many fitness centres are offering 360-
degree tours on YouTube to show off their venue to potential customers. This makes it possible
to get to know the gym from home and see if it has the space and everything the customer would
need and want from their gym.

What we’ll also see more is people exercising in VR through simulators and gamification. A
company called VirZOOM is selling exercise bikes with handlebar buttons for game controls, so
you can play VR cycling games while you exercise. In games like car racing and tank battling for
example, the only way to move your “car” or “tank” is by cycling. This kind of modern VR
exercising is great news for marketers, if they’re able to do some digital product placement in the
VR apps, where the user will not be able to miss it.
Food
Some of the biggest challenges for the food industry are spreading knowledge of their
products and ingredients, and for restaurants it would be to attract more regular customers. Food
manufacturers and grocery stores focus a lot on visual content, so it is sure VR and AR will come
in very handy, especially once the graphics reach their maximum potential. To make regular
customers, you need to offer something that makes it beneficial and/or interesting for the
customer to keep coming back. This is usually done with offering discounts, or by organizing
events of some sort. The Dutch Lady is a dairy beverage brand in Vietnam, who created their
own AR app for their young consumers. The app is a game for children, where you interact
with the characters from the “Dutch Lady farm”, and by scanning Dutch Lady milk packs, you
can unlock new characters in the game. The app was a huge success and achieved over 40 000
downloads and a 19% increase in sales.
Automotive industry
Buying a car can be a very big investment, so customers will want to be very convinced of
their choice before purchasing. Sellers job is to make this easy for them, by offering tools and
ways to compare their options. This is why the automotive industry has been all over AR
lately. Volvo promoted its S60 model by creating an AR experience on YouTube, where the
users could drive a virtual car by tilting their smartphone left and right. Volvo said there was
an outstanding traffic increase of 293% to volvocars.com.

Entertainment

VR and AR have worked perfectly in the game industry and especially VR has taken gaming
into a completely different level. The gaming experience intensifies as the player becomes more
immersed in the game. Instead of sitting in front of a screen, players are now able to play games
while moving around. This is also being improved as developers and engineers try to create a
dreadmill-type of equipment for players, where they can safely run and walk around while
wearing their headset, without the fear of running into a wall or knocking things over.
A number of movie theatres have experimented AR marketing with apps that work by
scanning movie posters in the theatre lobby or movie ads on magazines. The AR app then
brings up information like a trailer and premiere date, and also serves as a jumping point to
buy tickets or visit the movies’ website.
4.1.6 Beauty & Fashion

In the beauty and fashion industry, the use of AR is becoming quite popular when it comes to
trying out clothes and makeup virtually which finds to be an excellent use of AR, as shopping
for clothes and trying to find the right cosmetics can be extremely frustrating and time-
consuming.

Sephora created its own app called Virtual Artist, where the user can try out different lip
shades and eye makeup by either uploading their picture into the app, or by using the camera
function, where the app recognises a face and is able to serve as a sort of mirror while the user
tries on different products through the app.

Education

VR and AR are already having, and will continue to have, huge benefits when using them for
educational purposes. When turning a lesson into an immersive interactive visual experience
through virtual reality, it will make learning more interesting and entertaining as well as turn it
into a more effective and efficient learning experience.

Using VR for taking students on virtual field trips, to the surface of Mars or the international
space station for example, has been one of the more popular uses in education. There are some
schools that are using VR to teach in virtual classrooms, to solve the problem of not having
enough room for everyone interested in joining the class. AR on the other hand makes a great
tool for checking small details, or when serving as a quick dictionary or translator, or as a
personal guide when touring museums for example.
Augmented reality's ability to create unique, immersive experiences makes the technology an
excellent tool for marketers. Companies like IKEA, TopShop, and Converse use AR to allow
customers to “try” their products before purchasing. These digital trial runs make sampling
significantly easier and faster for shoppers, which can lead to more sales.
Marketing
Even advertisements are made using AR. Many popular brands used AR in public spaces to
delight viewers and grab their attention. In 2014, Pepsi installed outward facing cameras in a
London bus shelter and used a live feed to project UFOs, giant robots, balloons, and a tiger on
the loose inside the shelter. The experience made it look as if those scenes were actually
happening on the street. The creative use of AR paid off for Pepsi. A YouTube video of the
installation topped 6 million views, making it one of the most watched ad campaigns on
YouTube at the time.

OBJECTIVES OF THE STUDY:

 To analyse how marketing using AR/VR maximizes customer engagement.

 To find the customer response to marketing using AR/VR.
 To analyse how AR/VR can be used in B2C sales.
 To examine the fieldsds in which AR/VR marketing would be effective.
  To determine whether AR/VR mobile apps would be able to promote brand and provide shop
in store experience.
 To understand the response of audience towards AR/VR advertisements.

LITERATURE REVIEW:

Some pioneering works about v-commerce used non-immersive graphic interfaces based on computer
screens, displaying representations of web-based 2D virtual stores (Gummesson, 1987; Chen and Tan,
2004). Users interacted with the content through traditional input devices (e.g., mouse, keyboard) in a
non-natural way. Although these interfaces had low immersion, these works identified several factors
that contribute to positive user acceptance of virtual 2D stores, such as product offering, information
richness and perceived service quality (Lin and Lu, 2000; Liu and Arnett, 2000).

These 2D web-based virtual stores evolved with the introduction of dynamic 3D product models; these
upgraded websites added a new level of buyer–product interaction (Zhang et al., 2004). With this
technology, users could interact with the product (e.g., rotate, zoom in/out) using 2D input devices.
Several works analyzed the influence of dynamic 3D models on brand attitude, product knowledge
and purchase intention (Li et al., 2003; Daugherty et al., 2008).

These two types of experience are limited to an interaction with a virtual replica of the product outside
of its traditional sale context, the physical store. Thus, they do not feature other fundamental aspects
of user interaction in physical stores, such as navigation, among many others. The experiences also
neglected testing or trying on the products, which is important to consumers.

Retailers started to use VR and AR applications at the end of the 1990s. Early pioneers proposed AR
technology applications as a research topic (Perid and Steiger, 1998; Brody and Gottsman, 1999;
Jones and Biasiotto, 1999), using mobile phones as visual and interaction interfaces with low
immersive capabilities. Early VR studies investigated the use of virtual environments in consumers’
homes; they used computer screen visual interfaces and traditional input devices to simulate physical
shopping experiences by means of low immersive systems (Gold, 1993; Leinfuss, 1996; Donna and
Novak, 1997). In-store VR applications began using screen-based interfaces (Carpenter et al., 1997).
The first use of head-mounted display (HMD) interfaces was in 1995, to undertake supermarket
redesigns with reduced costs (within Second Life).
Research into VR during the 2000s looked at virtual worlds, which allowed navigation in virtual
stores, for example, Second Life© (Linden Labs, San Francisco, CA, United States). When Second
Life was launched in 2003, researchers saw it as a useful tool for undertaking social psychology
experiments as it offers easy access to large samples. Second Life became a technology of real interest
for marketers and advertisers; virtual shopping malls in 3D environments provided interactive and
engrossing social interactions with spokes-avatars in a new form of interactive marketing (Kaplan and
Haenlein, 2009a). Some works have since analyzed the role of Second Life as a new
advertising/communication channel (Barnes, 2011), as a tool for virtual product sales (Jin and
Bolebruch, 2009) and for marketing research (Kaplan and Haenlein, 2009b). The virtual experiences
offered by online virtual worlds offer low graphical realism, low immersive visual interfaces and
unnatural interaction metaphors based on keyboards, a mouse or joysticks. Thus, given the immersive
capabilities offered now by XRs, the conclusions drawn from these studies have weak current validity.

Virtual reality has also been used as a tool by test laboratories to obtain metrics to predict consumer
behavior in physical stores (Burke, 1996, 2002; Campo et al., 1999; Vrechopoulos et al., 2004, 2009;
Breen, 2009; Bigné et al., 2016).

Also during the 2000s, AR applications began to use fishtank interfaces in in-store contexts as virtual
try-on tools (Koontz and Gibson, 2002; Barlow et al., 2004; Zhu and Owen, 2008).

In the 2010s, we have witnessed an increase in the number of studies using VR interfaces, but most of
them still rely on displays with medium- or low-immersion levels, such as fishtank or large stereo-
screen systems.

Pantano and Servidio (2012) used a low immersive stereoscopic powerwall setup (a large screen with
stereoscopic vision to investigate consumer reactions to XR technologies. Papagiannidis et al. (2013)
used a virtual two-floor fashion clothing store which participants explored through a desktop
computer. The participants browsed in the virtual world and undertook assigned tasks using a
keyboard or joystick.

Some studies proposed a 3D web-based virtual supermarket to study consumer reactions to marketing
strategies, such as price and product labeling (Waterlander et al., 2015), emotional responses to retail
environments (Massara et al., 2010) and responses to empty shelf space (Van Herpen et al., 2009). All
these studies used low-immersive desktop visual interfaces with mouse-based interactions.
Van Herpen et al. (2016) compared a choice task using VR to a shopping trip in a brick-and-mortar
supermarket (with a similar choice task) and a choice task using photographs of products. The virtual
supermarket was displayed on a PC and three 42″ LCD screens, which resulted in a 180-degree field-
of-view, and participants navigated through the scenario using keyboard and mouse.

A recent study using an immersive VR interface investigated how customers perceived, and if they
would purchase, misshapen fruit and vegetables (Verhulst et al., 2017). The participants visualized a
virtual supermarket through an immersive HMD and interacted via an Xbox One controller pad. The
authors provided a detailed technical description of both the software contents of the virtual
environment and the hardware used as visualization and interaction interfaces.

Bigné et al. (2018) compared subjects’ eye gaze patterns during the viewing of a 360-degree video and
a 3D display. A more recent exploratory study compared, using a quantitative methodology, the effect
of interactivity on emotion during a 360-degree video ad with the effect during a traditional ad
(Castellanos et al., 2018).

DATA COLLECTION:

Data collection is performed in the questionnaire method and 50 people responded.

AR can be seen as a substitute for real life product experiences

Intrepretation:
From the pie chart it can be seen that 65.6 % of the responded strongly agreed to the
statement ‘AR can be seen as a substitute for real life product experiences’, and only 9.4% strongly
agreed with the statement and 21.9% disagreed to the statement.So altogether 75% responded in a
positive manner and the remaining in the negative manner.

AR/VR advertisements are beneficial to the brand?

Intrepretation:

Purpose of using credit card

Intrepretation:

About 57.7% respondents use credit card for money transaction and 26.9% respondants uses credit
card for online shopping and remaining for bill payment.
Debit card/credit card is the most convenient way of paying:

Intrepretation:

About 35.8% respondents use credit card/debit card strongly agree that it is convenient way of
paying. Majority agree that credit card/debit card agree that it is convenient way of paying.

Debit card/credit card is the most preferred way to pay your Utility Bills

Intrepretation:
About 26.5% respondents use credit card/debit card strongly agree that it is convenient way of pay
utility bills. About 50% respondents use credit card/debit card agree that it is convenient way of
pay utility bills. Majority agree that credit card/debit card agree that it is convenient way of pay
utility bills.

While travelling, Debit card/credit card is the preferred way of payment

Intrepretation:

About 24.5% respondents use credit card/debit card strongly agree that it is convenient way of
paying during travelling. About 30.2% respondents use credit card/debit card agree that it is
convenient way of pay utility bills. Majority agree that credit card/debit card agree that it is
convenient way of pay utility bills.

Use of credit/debit card is the safest mode of transaction

Intrepretation:

Only 11.5% respondents use credit card/debit card strongly agree that it is safest mode of
transaction. About 42.3% respondents has no correct opinion that credit card/debit card that it is
safest mode of transaction.

Misuse of Credit Cards is the reason you don’t opt for credit card

Intrepretation:

Only 22.6% respondents says misuse of credit card is the reason for not opting the credit card.
Credit Card are expensive as many other charges are charged on it

Intrepretation:

About 34% respondents agree that Credit Card are expensive as many other charges are charged
on it. Majority agrees to this aspect.

Debit Card is considered as more reliable and secured

Intrepretation:

About 44.2% respondents agree that debit card is more reliable than credit card.Most of the
respondants agree to it.
Debit card/credit card will penetrate in society more in future:

Intrepretation:

About 47.2% respondents agree that Debit card/credit card will penetrate in society more in
future.The majority of the respondents opinion is that.The influence of the debit/credit card is more
in the future.

More credit card/Debit card transaction in country over cash transaction will help
solve the problem of corruption in the economy
Intrepretation:

About 37.7% respondents agree that more credit card/Debit card transaction in country over cash
transaction will help solve the problem of corruption in the economyThe majority of the
respondents opinion is that.

Credit card/Debit card transaction in country over cash transaction will help
to curb black money circulation in economy

Intrepretation:

About 39.6% respondents agree that more Credit card/Debit card transaction in country over cash
transaction will help to curb black money circulation in economy.

FINDING AND SUGGESTIONS

Suggestions Banks should increase the target segment by introducing different cards for different
purposes and also for different segments as the result shows that choice of credit card depends
upon the gender, income and profession. They should go for more promotional campaign for
giving more information to customers as the result of the survey shows usage of credit cards at
various places is very less which means that customers are less aware of various uses of credit
cards. They should add some more features with credit card which will help the user to save more
time and also reduce workload.
CONCLUSION

It can be concluded that choice of credit card depends upon income, gender and profession of the
respondent. Customer satisfaction depends upon income, frequency of usage in a month and
amount of usage per month. The main purpose of using credit/debit card is money transcation.
About 73% of respondent agree that debit/credit card is the most convenient way of paying. About
77% debit card/credit card is the most preferred way to pay your Utility Bills. While travelling,
Debit card/credit card is the most preferred way of payment. Majority agrees that use of
credit/debit card is the safest mode of transaction.