Marketing Financial Product & Services

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Marketing of
Financial
Products
Credits: 4
Lecture -1
Parveen Sharma
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MoFP for
TKW’s

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Syllabus
 Marketing of Financial Products
 Market Segmentation & Consumer Behavior
 Marketing Communication
 Distribution & Pricing
 Sales Force Management
Evaluation
Written Examination: 70 Marks
Project Work: 20 Marks
Internal Assessment: 10 Marks

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Study References
“Marketing Financial Services” by Hooman Estelami
“The Financial Services Marketing Handbook” by Evelen Ehrlich and Duke Fanelli
“Developing New Financial Products” by Gary H Raddon
“Bank Marketing” By SM Jha, Himalaya Publication
“Managing and Marketing of Financial Services”, Taxmann Publication

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The marketing concept holds that the key to achieving organizational
goals consists in determining the needs and wants of target markets and
delivering the desires satisfaction more effectively and efficiently than
competitors.(by John B Mckitterick)
 Organizational goals
 Need & wants
 Satisfaction
 Effectively and efficiently than competitors
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The Concept of Marketing
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The Gamut of Financial Services
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Financial services are any service or product of a financial nature that
is traded in financial markets. We can also say services related to
financial instruments are financial services.
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Marketing & Financial Products
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Banks/FI’s no longer remain in their tradition service and have become
very dynamic with the rapidly changing macro environment.
Why is this happening?
 Customer expectations & increasing focus on Customer Satisfaction
 Globalization
 Competition & Shrinking profit margins
 Technological Advancements
FI’s are becoming ‘One Stop Financial Service Centre’.

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Changing landscape of Financial Products &
Services
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Changing landscape of Financial Products &
Services
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Justification for MoFP
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 Understanding the customers
 Satisfying the customers
 Excelling competition
 Formulating & Innovating the Mixes
 Social orientation
Just Selling is not Marketing

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Physical Goods Services
1. Tangible Intangible
2. Homogeneous Heterogeneous
3. Product and distribution separated
from consumption
Production, distribution and consumption
re simultaneous process
4. A thing An activity
5. Core value produced in factory Core value produced in buyer-seller
interaction
6. Customers do not participate in the
production process
Customers participate in production
7. Can be kept in stock Cannot be kept in stock
8. Transfer of ownership No transfer of ownership
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Marketing Goods vs Service
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Marketing Objective
General Objectives
Increasing Market Share
Maximizing Profitability
Expanding Business
Formation of Marketing
Strategy
Operational Objective
Branch Efficiency
Increasing Awareness
Customer Relation & Services
S
Marketing & Financial Products

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Understanding MoFP from FI’s
Communications
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Marketing & Financial Products
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It is now clear that…
Financial institutions(FI’s) does proper planning & formulate proper
strategy before moving ahead with their marketing plans to stay ahead in
the competitive business environment.

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Marketing Objective
General Objectives
Increasing Market Share
Maximizing Profitability
Expanding Business
Formation of Marketing
Strategy
Operational Objective
Branch Efficiency
Increasing Awareness
Customer Relation & Services
Marketing & Financial Products

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TKW’s
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? ueriesQ
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Contact me @ +91-9050050288
or
Email to parveen_72@yahoo.in

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Term for the Lecture
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CORE Banking: Centralized Online Real-time Electronic banking

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Thank
You
MoFP for
TKW’s
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