Course Outline School: Department: Course Title: Business Accounting Marketing Financial Services Course Code: FINA 343 Course Hours/Credits: 56 Prerequisites: MKTG 116, MKTG 117 Co-requisites: Eligible for Prior Learning, Assessment and Recognition: Originated by: Yes Thomas Barker Creation Date: Summer 2014 Revised by: Thomas Barker Revision Date: Summer 2014 Current Semester: Summer 2015 Approved by: Chairperson/Dean Students are expected to review and understand all areas of the course outline. Retain this course outline for future transfer credit applications. A fee may be charged for additional copies. This course outline is available in alternative formats upon request.
Course Description This course provides a foundation for building a successful career as a Financial Services professional. The concepts can be applied by individuals employed by any financial services organization, commissioned agents or independent entrepreneurs operating their own business. Students will be introduced to Services Marketing concepts the basic principles of Marketing and the difference between Marketing and Sales of Financial Services. Principles covered include: identifying target markets, market segmentation, building an effective Marketing Plan, developing an effective Value Proposition, and a practical strategy to competitively selling Financial Services. Program Outcomes Successful completion of this and other courses in the program culminates in the achievement of the Vocational Learning Outcomes (program outcomes) set by the Ministry of Training, Colleges and Universities in the Program Standard. The VLOs express the learning a student must reliably demonstrate before graduation. To ensure a meaningful learning experience and to better understand how this course and program prepare graduates for success, students are encouraged to review the Program Standard by visiting http://www.tcu.gov.on.ca/pepg/audiences/colleges/progstan/. For apprenticeship-based programs, visit http://www.collegeoftrades.ca/training-standards. Course Learning Outcomes The student will reliably demonstrate the ability to: 1. 2. 3. 4. 5. 6. 7. 8. Articulate the importance of Marketing in building and operating a Financial Services business Evaluate the unique challenges inherent in managing and delivering quality financial services. Create a results oriented Marketing Plan. Evaluatee and apply all elements of the marketing mix applicable to delivery of services. Explain methods to improve customer experience and promote customer loyalty. Illustrate how to approach the pricing of financial services. Investigate different ways of promoting a financial services business. Evaluatee different promotional activities, including: print ads, direct mail, seminars/workshops, newsletters, telemarketing, personal selling and electronic commerce. Essential Employability Skills (EES) The student will reliably demonstrate the ability to*: 1. Communicate clearly, concisely and correctly in the written, spoken, and visual form that fulfills the purpose and meets the needs of the audience. 2. Respond to written, spoken, or visual messages in a manner that ensures effective communication. 4. Apply a systematic approach to solve problems. 5. Use a variety of thinking skills to anticipate and solve problems. 7. Analyze, evaluate, and apply relevant information from a variety of sources. 9. Interact with others in groups or teams in ways that contribute to effective working relationships and the achievement of goals. THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 2
*There are 11 Essential Employability Skills outcomes as per the Ministry Program Standard. Of these 11 outcomes, the following will be assessed in this course. Global Citizenship and Equity (GC&E) Outcomes Text and other Instructional/Learning Materials Text Book(s): Essential of Services Marketing, 2nd Edition wirtz, Chew & Lovelock pearson 2012 ISBN 978-981-06-8618-5 Material(s) required for completing this course: You must purchase text book Evaluation Scheme Test 1: Multiple choice questions based on lectures and readings Test 2: Multiple choice and short answers questions Assignment: Group case report and presentation. Marketing / Business Plan including financial implications. Midterm Test: Multiple choice and short answer exam. Final Exam: Comprehensive exam Evaluation Name CLO(s) EES GCE Outcome(s) Outcome(s) Weight/100 Test 1 1 10 Test 2 1, 2 10 Assignment 3 1, 5, 7, 9 20 Midterm Test 1, 2, 3, 4, 5, 6 1, 2, 4, 5, 7 25 Final Exam 1, 2, 3, 4, 5, 1, 2, 4, 5, 7 35 6, 7, 8 Total 100% If students are unable to write a test they should immediately contact their professor or program Chair for advice. In exceptional and well documented circumstances (e.g. unforeseen family problems, serious illness, or death of a close family member), students may be able to write a make-up test. All submitted work may be reviewed for authenticity and originality utilizing Turnitin. Students who do not wish to have their work submitted to Turnitin must, by the end of the second week of class, communicate this in writing to the instructor and make mutually agreeable alternate arrangements. When writing tests, students must be able to produce official College photo identification or they may be refused the right to take the test or test results will be void. Student Accommodation It is College Policy to provide accommodation based on grounds defined in the Ontario Human Rights Code. Accommodation may include modifications to standard practices. Students with disabilities who require academic accommodations must register with the Centre for Students with Disabilities. Students THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 3
requiring accommodation based on other human rights grounds should talk with their professors as early as possible. Please see the Student Accommodation Policy. Use of Dictionaries Dictionaries may be used in tests and examinations, or in portions of tests and examinations, as long as they are non-electronic (not capable of storing information) and hard copy (reviewed by the invigilator to ensure notes are not incorporated that would affect test or examination integrity). Program or School Policies Course Policies College Policies Students should familiarize themselves with all College Policies that cover academic matters and student conduct. All students and employees have the right to study and work in an environment that is free from discrimination and harassment and promotes respect and equity. Centennial policies ensure all incidents of harassment, discrimination, bullying and violence will be addressed and responded to accordingly. Academic honesty is integral to the learning process and a necessary ingredient of academic integrity. Academic dishonesty includes cheating, plagiarism, and impersonation. All of these occur when the work of others is presented by a student as their own and/or without citing sources of information. Breaches of academic honesty may result in a failing grade on the assignment/course, suspension or expulsion from the college. For more information on these and other policies, please visit www.centennialcollege.ca/aboutcentennial/college-overview/college-policies. Students enrolled in a joint or collaborative program are subject to the partner institution's academic policies. PLAR Process This course is eligible for Prior Learning Assessment and Recognition (PLAR). PLAR is a process by which course credit may be granted for past learning acquired through work or other life experiences. The PLAR process involves completing an assessment (portfolio, test, assignment, etc.) that reliably demonstrates achievement of the course learning outcomes. Contact the academic school to obtain information on the PLAR process and the required assessment. This course outline and its associated weekly topical(s) may not be reproduced, in whole or in part, without the prior permission of Centennial College. THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 4
Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name 1 Course overview, Chapter 1 Identify the organizations and their roles in Lecture, examples, overview of marketing the Canadian Financial Services industry. cases. and Canadian Define the 7 P's of services Marketing. Financial Services. Discussion of 4 pillars concept and evolution to today's model. The extended Services Marketing Mix: 7P's. 2 Positioning Financial Services in Competitive Markets 3 Distributing Services Through Physical & Electronic Channels Read Chapter 3. Read Chapter 5. Evaluate effectiveness of different segmentation and targeting strategies. Explain the advantages of the various distribution channels. Understand the role of intermediaries in Mutual Fund distribution. 4 Pricing Chapter 6. Understand pricing models employed by Banks, Mutual Fund Dealers, Investment Brokers, Insurance Companies and Trust Companies. 5 Promotion & Marketing Communications Chapter 7 Compose a value proposition and "elevator pitch" for your Business. Explain how elements of the mix relate to Financial Services. Explore methods to blueprint and manage service processes. 6 Service Process Design Chapter 8 7 Service Environments Chapter 10 Explain the implications of different service environments. 8 Managing people for Chapter 11 & Case Evaluate characteristics of front line activities service advantage Study and compare the cycle of failure and cycle of 9 Managing Customer loyalty Chapter 12 success. Analyze customer loyalty and asses the value of a loyal customer Lecture & Class Discussion Examples from current news media will provide impetus for class discussion. Lecture and discussion. Test 1 10% Lecture & Discussion Lecture & discussion. Lecture & Discussion Lecture & case discussion Lecture & discussion 10 Customer Chapter 12 Appraise approaches to CRM systems Class discussion Group Assignment topic to be finalized. Pick group teams for presentation. Midterm Exam 25% Group Presentations Group Presentation Test 2 10% Evaluation Date THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 5
Week Topics Readings/Materials Weekly Learning Outcome(s) Instructional Strategies Evaluation Name Relationship Presentations Management 20% 11 Complaints, Service Chapter 12 Determine impact of effective service Lecture & Discussion Group Recovery & recovery and evsluate power of service presentation Guarantees guarantees. 12 Defining & Measuring Service Quality 13 Course review and feedback on presentations. 14 Final Review and Final Exam Chapter 14 Assess customer feedback tools. Describe how productivity improvements impact quality and value. Lecture & Discussion As required. Reinforce key concepts. Lecture & Discussion. Group Presentation Text & Cases Emphasis on key concepts. Lecture & Discussion. Final Exam 35% Evaluation Date THIS COURSE ADHERES TO ALL COLLEGE POLICIES (See College Calendar) 6