The Role of Marketing in Financial Education Interventions and Research Outcomes

In September 2010, NEFE brought together four of its current and past grant projects' principals to discuss what their projects contribute to expanding the capacity of financial education to be meaningful for both downstream and upstream audiences. Below are the four projects and either their final reports or milestone summaries, based on where they are in their grant project.

Teaching Guide

Social Influence and Consumer Financial Behavior: Going Beyond Financial Facts
Lois Vitt, Ph.D.
Institute for Socio-Financial Studies

Recruiting and Retention Plan
Wave 1 Executive Summary
Wave 1.5 Executive Summary

The Formation of Positive Financial Behaviors among Young Adults and the Effects on Their Life Successes
Soyeon Shim, Ph.D.
Joyce Serido, Ph.D.
Michael Staten, Ph.D.
University of Arizona

Final Report
Marketing Videos
Overcoming the Saving Slump

Increasing the effectiveness of retirement saving programs among female and low income workers: A Marketing Approach
Annamaria Lusardi, Ph.D.
Punam Keller, Ph.D.
Dartmouth College

Phase I Research Report
Conference Call Summary

Helping Consumers Respond Responsibly to the Advertising and Availability of Debt Consolidation Loans
Paul Bloom, Ph.D., Duke University
Lisa Bolton, Ph.D., Pennsylvania State University
Joel Cohen, Ph.D., University of Florida

Specific questions that were discussed:

  1. What should other financial educators and researchers know about when and how marketing can be utilized as an education intervention or a research tool?
  2. Are there caveats about marketing that should be understood?  For example, are there limitations on the types of research or audiences that lend themselves to this approach? Does a marketing professional need to be directly involved?  Others?
  3. Marketing theory and social theory seem to intersect in these projects.  What core principles of each are present in the approaches used? 

Other Resources:

Participant Bios