Introduction to Marketing of Financial Services


1. Introduction:

o Marketing - meaning and philosophy

o Types of Marketing

o Marketing Process

o Services Marketing

o Macro Trends and Opportunities of Pakistan’s financial marketing arena

2. Understanding the Market, Identifying Opportunities, and Developing the Marketing Strategy

2.1 Consumer Markets and Consumer Buying Behavior

o Characteristics affecting consumer behavior

o Types of buying decision behavior

o The Buyer Decision Process

o The Buyer Decision Process for New Banking Products

2.2 Business and Corporate Markets and their Buying Behavior

o Business and Corporate Markets

o Business and Corporate Buying Behavior

o Institutional and Government markets

2.3 Marketing Research and Information Systems

o Marketing research – meaning and key concepts

o Different methods and types of marketing research

o Application and significance in the financial industry

o The Marketing Information System – concepts, uses, analysis, inferences and application

o Measuring and monitoring Service Quality

o Media Research

o Media planning and buying

2.4 The Domestic Market

o Competitor Analysis / Competition scan

o Key features of the Pakistani Society – market intelligence

2.5 Developing the Marketing Strategy

o Identifying the Target Market

o Developing the Positioning Strategy

2.6 Competitive Strategies: Building Lifetime Customers

o Defining customer value and satisfaction

o Customer Relationship Management – concept and strategies

Delivering Customer Value and Satisfaction

3. Developing and Implementing the Marketing Program

3.1 Product and Services Strategy

o What is a product?

o Product classification

o Individual product decisions

3.2 Brand Management

o Brand management concepts

o Brand strategy

o Managing brand equity

3.3 Services Marketing

o Nature and Characteristics of Services marketing

o Consumer Behavior towards Services sector

o Customer Expectation of the Services sector

o Customer Perception of the Service industry

o Strategies for influencing customer perceptions

o Service Leadership

3.4 New Product Development and Product Life Cycle Strategies

o New Product Development Strategy

o Product Life Cycle Strategies

3.5 Pricing Products and Services

o Factors to consider when setting prices

o Pricing for financial services

o Fee Income and Interest income

3.6 Pricing Products and Services; Pricing Strategies

o New Product pricing strategies

o Product-mix pricing strategies

o Price-adjustment pricing

o Price changes

3.7 Bank’s distribution network and Alternate delivery channels

o The nature of distribution channels

o The nature of branch behavior and the Bank

o Channel design decisions

o Channel management decisions

o Physical distribution and logistics management

o Online Marketing and Electronic Commerce

3.8 Integrated Marketing Communication Strategy

o The marketing communication mix and the communication process

o Setting the total promotional budget mix

o The changing face of marketing communication

3.9 Advertising, Sales Promotion and Public Relation in Banks

o Major decisions in advertising

o Sales Promotion

o Public Relations

o Event management

o Brand activation

3.10 Personal Selling

o Define Personal Selling

o Personal selling vs. advertising

o Personal selling process

o The Role of Personal Selling in

a. Retail Banking

b. Corporate Banking

o Managing the Sales Force

o Ethical issues in personal selling

3.11 Direct/Indirect Marketing

o What is Direct/Indirect marketing?

o Types of Direct and Indirect marketing communication

3.12 Marketing Audit

o Importance and need

o Four Characteristics

o Essential components

3.13 Strategic Marketing and marketing mix

o Strategic marketing

o Concept of strategic marketing

o Marketing mix

o Components of Banks marketing mix

4. The Global Market

o Marketing to Pakistani Nationals in Foreign Countries

o Global marketing trends – challenges and opportunities

5. Social and Ethical Issues in Marketing

5.1 Social Criticism of Marketing

o Citizen and Public action to regulate Marketing

o Business Action towards Socially Responsible Marketing

o Principles for Public Policy towards Marketing

o What is PEMRA? Its role in the electronic media regulation?

o Pakistan Advertising Society (PAS)

o Public Policy and Ethical Issues in direct marketing

1. Office of fair practices

2. Code of advertising practices

3. Competition ordinance

 


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