Marketing Financial Services

Second edition

by Jillian Farquhar and Arthur Meidan

Learning outcomes

1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 12

Chapter 1: Marketing and financial services: an overview

At the end of this chapter, the reader will be able to:
  • Understand how marketing theory underpins the marketing of financial services
  • Appreciate how recent thinking in marketing and services marketing applies to financial services
  • Be able to identify key issues for marketers of financial services

Chapter 2: The financial services environment

At the end of this chapter, the reader will be able to:
  • Comprehend the key external influences in the marketing of financial services
  • Appreciate the importance of environmental scanning in the marketing of financial services
  • Integrate a stakeholder perspective into environmental scanning

Chapter 3: The financial services customer

At the end of this chapter, the reader will be able to:
  • Understand the importance of integration of consumer behaviour into marketing strategies
  • Evaluate customer behaviour theories, both business to customer (B2C) and business to business (B2B), with reference to financial services
  • Appreciate how important theories of customer satisfaction, dissatisfaction, inertia, loyalty, switching, word of mouth, risk and trust affect financial services marketing
  • Develop arguments for strategies built around customer behaviour (demand-side) in the marketing of financial services

Chapter 4: Segmenting and targeting the financial services marketplace

At the end of this chapter, the reader will be able to:
  • Distinguish between different approaches to segmentation in consumer and business markets
  • Appreciate the contributions of multisegment marketing to targeting strategies
  • Develop rationales for outline segmentation strategies and subsequent targeting
  • Understand and articulate the key aspects of the positioning of financial services

Chapter 5: Information regarding marketing financial services

At the end of this chapter, the reader will be able to:
  • Appreciate different types and sources of data that underpin decision-making in the marketing of financial services
  • Describe the processes in customer relationship management
  • Provide an outline of the main considerations of managing customer information for marketing decisions

Chapter 6: Relationship marketing in financial services

At the end of this chapter, the reader will be able to:
  • Appreciate the role of relationships in financial services marketing
  • Embed relationship marketing within the strategies for economies of scale and scope
  • Understand the key marketing actions that contribute to the creation of customer loyalty

Chapter 7: Building and sustaining the financial services brand

At the end of this chapter, the reader will be able to:
  • Appreciate how branding theory applies to the marketing of financial services
  • Contribute to developing branding strategies in financial services
  • Describe the key branding issues that apply to financial services, such as corporate branding and corporate communications

Chapter 8: Creating value: the financial services product

At the end of this chapter, the reader will be able to:
  • Understand the nature of the financial services product and the difficulties of achieving differentiation
  • Suggest how value is created in financial services products
  • Comprehend the key issues of product development in financial services
  • Appreciate service bundling, the role of service quality, service failure, service recovery and affinity marketing as part of managing the service offering

Chapter 9: Pricing and value in financial services

At the end of this chapter, the reader will be able to:
  • Comprehend key pricing considerations in the marketing of financial services
  • Evaluate pricing strategies, including cross-selling, product bundling, relationship pricing and customer value
  • Critically consider pricing strategies in financial services for different segments
  • Appreciate the role of value in the marketing of financial services

Chapter 10: Distributing financial services

At the end of this chapter, the reader will be able to:
  • Understand the relationship between the channel of distribution and the financial services offering
  • Appreciate the range and drivers of channels in the distribution of financial services
  • Propose strategies for managing multiple channels in financial services distribution
  • Articulate the key principles for successful multichannel marketing to retail and business markets
  • Appreciate the marketing impact of remote channels on banking and customer satisfaction

Chapter 11: Communicating in the marketing of financial services

At the end of this chapter, the reader will be able to:
  • Appreciate the interaction between the sender and recipient of marketing messages
  • Define marketing communications objectives
  • Provide an overview of major communication strategies in the marketing of financial services
  • Appraise the key strengths of marketing communication channels in terms of strategic objectives, particularly new communications channels

Chapter 12: Marketing strategies in financial services

At the end of this chapter, the reader will be able to:
  • Provide an overview of the principal components of marketing strategy and planning
  • Outline key aspects of financial services marketing strategy and planning
  • Review arguments for evaluating marketing practices and strategies
  • Discuss marketing approaches for financial institutions (FIs) post-credit crunch