Introduction to Marketing of Financial Services

Transcription

1 Intrductin t Marketing f Financial Services Descriptin/Objective: The bjective f this curse is t familiarize the applicants with the basic cncepts f marketing, its scpe and applicatin in the crprate arena specifically in banks. Cncepts f brand equity, marketing management and custmer relatinship management are discussed in detail. Als, infrmatin n develping the marketing mix, distributin f prducts and lgistics management is cvered. Primarily this curse aims t prvide an in-depth appreciatin and understanding f the unique challenges inherent in managing and delivering quality services. Learning Objectives/Outcmes: After the successful cmpletin f this curse, participants will be able t: Have knwledge and understanding f: Marketing, its philsphy and significance The 4 P s Prduct, Price, Place and Prmtin Cncept f Services Marketing Emerging trends and challenges f glbal markets Scial and ethical issues in Marketing Be able t understand the scpe f and develp effective marketing strategies and prgrams fr financial services Be well versed with the cncept f brand equity and brand management Be able t effectively utilize the cncepts f CRM fr marketing success Have wrking knwledge f Marketing Research cncepts, its applicatin and imprtance Have thrugh understanding and knwledge f the fllwing: Citizens and public actin t regulate marketing Business actin twards scially respnsible marketing Principles f public plicy twards marketing PEMRA Rules and plicies Institute f Bankers Pakistan 1

2 Curse Tpics: 1. Intrductin: Marketing - meaning and philsphy Types f Marketing Marketing Prcess Services Marketing Macr Trends and Opprtunities f Pakistan s financial marketing arena 2. Understanding the Market, Identifying Opprtunities, and Develping the Marketing Strategy 2.1 Cnsumer Markets and Cnsumer Buying Behavir Characteristics affecting cnsumer behavir Types f buying decisin behavir The Buyer Decisin Prcess The Buyer Decisin Prcess fr New Banking Prducts 2.2 Business and Crprate Markets and their Buying Behavir Business and Crprate Markets Business and Crprate Buying Behavir Institutinal and Gvernment markets 2.3 Marketing Research and Infrmatin Systems Marketing research meaning and key cncepts Different methds and types f marketing research Applicatin and significance in the financial industry The Marketing Infrmatin System cncepts, uses, analysis, inferences and applicatin Measuring and mnitring Service Quality Media Research Media planning and buying 2.4 The Dmestic Market Cmpetitr Analysis / Cmpetitin scan Key features f the Pakistani Sciety market intelligence 2.5 Develping the Marketing Strategy Identifying the Target Market Develping the Psitining Strategy 2.6 Cmpetitive Strategies: Building Lifetime Custmers Defining custmer value and satisfactin Custmer Relatinship Management cncept and strategies Delivering Custmer Value and Satisfactin Institute f Bankers Pakistan 2

3 3. Develping and Implementing the Marketing Prgram 3.1 Prduct and Services Strategy What is a prduct? Prduct classificatin Individual prduct decisins 3.2 Brand Management Brand management cncepts Brand strategy Managing brand equity 3.3 Services Marketing Nature and Characteristics f Services marketing Cnsumer Behavir twards Services sectr Custmer Expectatin f the Services sectr Custmer Perceptin f the Service industry Strategies fr influencing custmer perceptins Service Leadership 3.4 New Prduct Develpment and Prduct Life Cycle Strategies New Prduct Develpment Strategy Prduct Life Cycle Strategies 3.5 Pricing Prducts and Services Factrs t cnsider when setting prices Pricing fr financial services Fee Incme and Interest incme 3.6 Pricing Prducts and Services; Pricing Strategies New Prduct pricing strategies Prduct-mix pricing strategies Price-adjustment pricing Price changes 3.7 Bank s distributin netwrk and Alternate delivery channels The nature f distributin channels The nature f branch behavir and the Bank Channel design decisins Channel management decisins Physical distributin and lgistics management Online Marketing and Electrnic Cmmerce 3.8 Integrated Marketing Cmmunicatin Strategy The marketing cmmunicatin mix and the cmmunicatin prcess Setting the ttal prmtinal budget mix Institute f Bankers Pakistan 3

4 The changing face f marketing cmmunicatin 3.9 Advertising, Sales Prmtin and Public Relatin in Banks 3.10 Persnal Selling Majr decisins in advertising Sales Prmtin Public Relatins Event management Brand activatin Define Persnal Selling Persnal selling vs. advertising Persnal selling prcess The Rle f Persnal Selling in a. Retail Banking b. Crprate Banking Managing the Sales Frce Ethical issues in persnal selling 3.11 Direct/Indirect Marketing 3.12 Marketing Audit What is Direct/Indirect marketing? Types f Direct and Indirect marketing cmmunicatin Imprtance and need Fur Characteristics Essential cmpnents 3.13 Strategic Marketing and marketing mix 4. The Glbal Market Strategic marketing Cncept f strategic marketing Marketing mix Cmpnents f Banks marketing mix Marketing t Pakistani Natinals in Freign Cuntries Glbal marketing trends challenges and pprtunities 5. Scial and Ethical Issues in Marketing 5.1 Scial Criticism f Marketing Citizen and Public actin t regulate Marketing Business Actin twards Scially Respnsible Marketing Principles fr Public Plicy twards Marketing What is PEMRA? Its rle in the electrnic media regulatin? Pakistan Advertising Sciety (PAS) Institute f Bankers Pakistan 4

5 Public Plicy and Ethical Issues in direct marketing 1. Office f fair practices 2. Cde f advertising practices 3. Cmpetitin rdinance Institute f Bankers Pakistan 5