Financial Services Marketing
An international guide to principles and practice
- 1st Edition - October 3, 2006
- Latest edition
- Authors: Christine Ennew, Nigel Waite
- Language: English
Financial Services Marketing: an international guide to principles and practice contains the ideal balance of marketing theory and practice to appeal to advanced underg… Read more
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Description
Description
Financial Services Marketing: an international guide to principles and practice contains the ideal balance of marketing theory and practice to appeal to advanced undergraduates and those on professional courses such as the Chartered Institute of Banking. Taking an international and strategic view of an increasingly important and competitive sector, Financial Services Marketing adopts a fresh approach in terms of structure, and is organised around the core marketing activities of marketing for acquisition and marketing for retention. Financial Services Marketing features:
* Strong international focus: case studies and vignettes representing Asia-Pacific, Europe and the US.
* Comprehensive coverage, focusing on both B2B and B2C marketing.
* Expert insights into the latest innovations in the sector, from technological developments, CRM and customer loyalty to issues of social responsibility.
Financial Services Marketing will help both the student and the practitioner to develop a firm grounding in the fundamentals of: financial services strategy, customer acquisition, and customer development. Reflecting the realities of financial services marketing in an increasingly complex sector, it provides the most up-to-date, international and practical guide to the subject available.
* Strong international focus: case studies and vignettes representing Asia-Pacific, Europe and the US.
* Comprehensive coverage, focusing on both B2B and B2C marketing.
* Expert insights into the latest innovations in the sector, from technological developments, CRM and customer loyalty to issues of social responsibility.
Financial Services Marketing will help both the student and the practitioner to develop a firm grounding in the fundamentals of: financial services strategy, customer acquisition, and customer development. Reflecting the realities of financial services marketing in an increasingly complex sector, it provides the most up-to-date, international and practical guide to the subject available.
Key features
Key features
* Comprehensive coverage of the fundamentals of: financial services strategy, customer acquisition, and customer development
* Strong international dimension: Asian-Pacific, European and US examples
* Draws on both academic theory and practitioner experience, ensuring a blend of academic rigour and insight from practice
* Strong international dimension: Asian-Pacific, European and US examples
* Draws on both academic theory and practitioner experience, ensuring a blend of academic rigour and insight from practice
Readership
Readership
Predominantly a student audience but moderately specialist.
Level 2: 2nd/3rd year undergraduates in business/management degrees with services marketing and financial services marketing modules; and broad financial services degrees.
Some appeal to:
masters level modules in management/marketing
students of professional qualifications (e.g. Chartered Institute of Banking, Institute of Financial Services) - potentially a substantial market although many professional bodies have their own material.
Level 2: 2nd/3rd year undergraduates in business/management degrees with services marketing and financial services marketing modules; and broad financial services degrees.
Some appeal to:
masters level modules in management/marketing
students of professional qualifications (e.g. Chartered Institute of Banking, Institute of Financial Services) - potentially a substantial market although many professional bodies have their own material.
Table of contents
Table of contents
Acknowledgements
Foreword
Introduction
PART I: Context and strategy
1 The role, contribution and context of financial services
1.1 Introduction
1.2 Economic development
1.3 Government welfare context
1.4 Lifetime income smoothing
1.5 The management of risk
1.6 Financial exclusion
1.7 Mutual and proprietary supply
1.8 Regulation of financial services
1.9 Summary and conclusions
2 Marketplace structures, products and participants
2.1 Introduction
2.2 Some historical perspectives
2.3 The geography of supply
2.4 An outline of product variants
2.5 Banking and money transmission
2.6 Lending and credit
2.7 Saving and investing
2.8 Life assurance
2.9 General insurance
2.10 Summary and conclusions
3 Introduction to financial services marketing
3.1 Introduction
3.2 Defining financial services
3.3 The differences between goods and services
3.4 The distinctive characteristics of financial services
3.5 The marketing challenge
3.6 Classifying services
3.7 Summary and conclusions
4 Analysing the marketing environment
4.1 Introduction
4.2 The marketing environment
4.3 The macro-environment
4.4 The market environment
4.5 The internal environment
4.6 Evaluating developments in the marketing environment
4.7 Conclusions
5 Strategic development and marketing planning
5.1 Introduction
5.2 Strategic marketing
5.3 Developing a strategic marketing plan
5.4 Tools for strategy development
5.5 Summary and conclusions
6 Internationalisation strategies for financial services
6.1 Introduction
6.2 Internationalisation and the characteristics of financial services
6.3 The drivers of internationalisation
6.4 Globalisation strategies
6.5 Strategy selection and implementation
6.6 Summary and conclusions
7 Understanding the financial services consumer
7.1 Introduction
7.2 Consumer choice and financial service
7.3 Consumer buying behaviour in financial services
7.4 Industry responses
7.5 Summary and conclusions
8 Segmentation targeting and positioning
8.1 Introduction
8.2 The benefits of segmentation
8.3 Successful segmentation
8.4 Approaches to segmenting consumer markets
8.5 Approaches to segmenting business-to-business markets
8.6 Targeting strategies
8.7 Positioning products and companies
8.8 Repositioning
8.9 Summary and conclusions
PART II: Customer acquisition
9 Customer acquisition strategies and the marketing mix
9.1 Introduction
9.2 Short-term marketing planning
9.3 The role of the financial services marketing mix
9.4 The financial services marketing mix: key issues
9.5 Customer acquisition and the financial services marketing mix
9.6 Summary and conclusions
10 Product-service design and delivery
10.1 Introduction
10.2 The concept of the service product
10.3 Islamic financial instruments
10.4 Influences on product management
10.5 Managing existing product lines
10.6 New product development
10.7 Summary and conclusions
11 Communication and promotion
11.1 Introduction
11.2 Principles of communication
11.3 Planning a promotional campaign
11.4 Forms of promotion
11.5 Summary and conclusions
12 Pricing and value management
12.1 Introduction
12.2 The role and characteristics of price
12.3 Value and the challenges of pricing financial services
12.4 Methods for determining price
12.5 Price differentiation and discrimination
12.6 Price determination
12.7 Pricing strategy and promotional pricing
12.8 Summary and conclusions
13 Distribution channels: routes-to-market
13.1 Introduction
13.2 Distribution: distinguishing features
13.3 Distribution methods and models
13.4 Distribution channels
13.5 Summary and conclusions
PART III: Customer development
14 Customer relationship management strategies
14.1 Introduction
14.2 Drivers of Change
14.3 Customer persistency – acquire the right customers
14.4 Retaining the right customers
14.5 Customer retention strategies
14.6 The customer relationship chain
14.7 Lifetime customer value
14.8 Relationship marketing in specific contexts
14.9 Customer data management
14.10 Summary and conclusions
15 Service delivery and service quality
15.1 Introduction
15.2 The service profit-chain
15.3 Defining service quality
15.4 Models of service quality
15.5 The gap model of service delivery
15.6 The outcomes of service quality
15.7 Service failure and recovery
15.8 Summary and conclusions
16 Customer satisfaction, customer value and treating customers fairly
16.1 Introduction
16.2 Understanding customer satisfaction
16.3 Customer value
16.4 Defining customer satisfaction
16.5 Methodologies for obtaining satisfaction data
16.6 Making appropriate using of satisfaction information
16.7 Treating customers fairly
16.8 The satisfaction-advocacy relationship
17 Putting customer development into practice
17.1 Introduction
17.2 People and culture
17.3 Product considerations
17.4 Pricing and value
17.5 Advertising and promotion
17.6 Distribution and access
17.7 Processes
17.8 Evaluating marketing performance
17.9 Corporate social responsibility
17.10 Towards a sustainable future
17.11 Summary and conclusions
Bibliography
Foreword
Introduction
PART I: Context and strategy
1 The role, contribution and context of financial services
1.1 Introduction
1.2 Economic development
1.3 Government welfare context
1.4 Lifetime income smoothing
1.5 The management of risk
1.6 Financial exclusion
1.7 Mutual and proprietary supply
1.8 Regulation of financial services
1.9 Summary and conclusions
2 Marketplace structures, products and participants
2.1 Introduction
2.2 Some historical perspectives
2.3 The geography of supply
2.4 An outline of product variants
2.5 Banking and money transmission
2.6 Lending and credit
2.7 Saving and investing
2.8 Life assurance
2.9 General insurance
2.10 Summary and conclusions
3 Introduction to financial services marketing
3.1 Introduction
3.2 Defining financial services
3.3 The differences between goods and services
3.4 The distinctive characteristics of financial services
3.5 The marketing challenge
3.6 Classifying services
3.7 Summary and conclusions
4 Analysing the marketing environment
4.1 Introduction
4.2 The marketing environment
4.3 The macro-environment
4.4 The market environment
4.5 The internal environment
4.6 Evaluating developments in the marketing environment
4.7 Conclusions
5 Strategic development and marketing planning
5.1 Introduction
5.2 Strategic marketing
5.3 Developing a strategic marketing plan
5.4 Tools for strategy development
5.5 Summary and conclusions
6 Internationalisation strategies for financial services
6.1 Introduction
6.2 Internationalisation and the characteristics of financial services
6.3 The drivers of internationalisation
6.4 Globalisation strategies
6.5 Strategy selection and implementation
6.6 Summary and conclusions
7 Understanding the financial services consumer
7.1 Introduction
7.2 Consumer choice and financial service
7.3 Consumer buying behaviour in financial services
7.4 Industry responses
7.5 Summary and conclusions
8 Segmentation targeting and positioning
8.1 Introduction
8.2 The benefits of segmentation
8.3 Successful segmentation
8.4 Approaches to segmenting consumer markets
8.5 Approaches to segmenting business-to-business markets
8.6 Targeting strategies
8.7 Positioning products and companies
8.8 Repositioning
8.9 Summary and conclusions
PART II: Customer acquisition
9 Customer acquisition strategies and the marketing mix
9.1 Introduction
9.2 Short-term marketing planning
9.3 The role of the financial services marketing mix
9.4 The financial services marketing mix: key issues
9.5 Customer acquisition and the financial services marketing mix
9.6 Summary and conclusions
10 Product-service design and delivery
10.1 Introduction
10.2 The concept of the service product
10.3 Islamic financial instruments
10.4 Influences on product management
10.5 Managing existing product lines
10.6 New product development
10.7 Summary and conclusions
11 Communication and promotion
11.1 Introduction
11.2 Principles of communication
11.3 Planning a promotional campaign
11.4 Forms of promotion
11.5 Summary and conclusions
12 Pricing and value management
12.1 Introduction
12.2 The role and characteristics of price
12.3 Value and the challenges of pricing financial services
12.4 Methods for determining price
12.5 Price differentiation and discrimination
12.6 Price determination
12.7 Pricing strategy and promotional pricing
12.8 Summary and conclusions
13 Distribution channels: routes-to-market
13.1 Introduction
13.2 Distribution: distinguishing features
13.3 Distribution methods and models
13.4 Distribution channels
13.5 Summary and conclusions
PART III: Customer development
14 Customer relationship management strategies
14.1 Introduction
14.2 Drivers of Change
14.3 Customer persistency – acquire the right customers
14.4 Retaining the right customers
14.5 Customer retention strategies
14.6 The customer relationship chain
14.7 Lifetime customer value
14.8 Relationship marketing in specific contexts
14.9 Customer data management
14.10 Summary and conclusions
15 Service delivery and service quality
15.1 Introduction
15.2 The service profit-chain
15.3 Defining service quality
15.4 Models of service quality
15.5 The gap model of service delivery
15.6 The outcomes of service quality
15.7 Service failure and recovery
15.8 Summary and conclusions
16 Customer satisfaction, customer value and treating customers fairly
16.1 Introduction
16.2 Understanding customer satisfaction
16.3 Customer value
16.4 Defining customer satisfaction
16.5 Methodologies for obtaining satisfaction data
16.6 Making appropriate using of satisfaction information
16.7 Treating customers fairly
16.8 The satisfaction-advocacy relationship
17 Putting customer development into practice
17.1 Introduction
17.2 People and culture
17.3 Product considerations
17.4 Pricing and value
17.5 Advertising and promotion
17.6 Distribution and access
17.7 Processes
17.8 Evaluating marketing performance
17.9 Corporate social responsibility
17.10 Towards a sustainable future
17.11 Summary and conclusions
Bibliography
Product details
Product details
- Edition: 1
- Latest edition
- Published: November 13, 2006
- Language: English
About the authors
About the authors
CE
Christine Ennew
Affiliations and expertise
Dean, Faculty of Law and Social Sciences, and Professor of Marketing, Nottingham University Business SchoolNW
Nigel Waite
Affiliations and expertise
Director of Financial Services Research Forum, Nottingham University Business School, where he is also Special Professor of Marketing.View book on ScienceDirect
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