Financial services marketing: an international guide to principles and practices
Gespeichert in:
Hauptverfasser: | , , |
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Format: | Buch |
Sprache: | English |
Veröffentlicht: |
London ; New York
Routledge
2018
|
Ausgabe: | Third edition |
Schlagworte: | |
Online-Zugang: | Inhaltsverzeichnis |
Beschreibung: | xx, 591 Seiten Illustrationen |
ISBN: | 9781138684522 9781138684515 |
Internformat
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245 | 1 | 0 | |a Financial services marketing |b an international guide to principles and practices |c Christine Ennew, Nigel Waite and Róisín Waite |
250 | |a Third edition | ||
264 | 1 | |a London ; New York |b Routledge |c 2018 | |
300 | |a xx, 591 Seiten |b Illustrationen | ||
336 | |b txt |2 rdacontent | ||
337 | |b n |2 rdamedia | ||
338 | |b nc |2 rdacarrier | ||
505 | 8 | |a Includes bibliographical references and index | |
650 | 4 | |a Financial services industry |x Marketing | |
650 | 0 | 7 | |a Finanzmarketing |0 (DE-588)4426078-7 |2 gnd |9 rswk-swf |
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700 | 1 | |a Waite, Nigel |e Verfasser |0 (DE-588)170709892 |4 aut | |
700 | 1 | |a Waite, Roisin |e Verfasser |4 aut | |
776 | 0 | 8 | |i Erscheint auch als |n Online-Ausgabe |z 978-1-315-54376-5 |
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943 | 1 | |a oai:aleph.bib-bvb.de:BVB01-030025185 |
Datensatz im Suchindex
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adam_text |
Contents
List of figures XV
List of tables xviii
A cknowledgements x j x
Introduction 1
PARTI
Context and strategy 7
1 The role, contribution and context of financial services 9
LI Introduction 9
1.2 Economic development 10
1.3 Government welfare context 13
1.4 Lifetime income smoothing 16
1.5 The management of risk 19
1.6 Poverty and financial exclusion 20
I. 7 Mutual and proprietary supply 22
1.8 Regulation of financial services 26
1.9 A new philosophy and approach to regulation 30
1.9.1 On the role of financial markets 30
1.9.2 Three major regulatory challenges 31
1.9.3 UK regulatory reform — a new regulatory architecture, approach
and philosophy 32
1.9.4 Regidatoryphilosophy 34
1.9.5 European regulatory reforms 36
1.9.6 Potential impact ofB rex it 37
1.9.7 Future challenges 38
1.10 Summary and conclusions 39
Case Study 1: Microinsurance 40
2 The financial services marketplace: structures, products and participants 44
2.1 introduction 44
2.2 Some historical perspectives 44
viii Contents
2.3 The geography of supply 46
2.4 Financial advice 50
2.5 An outline of product variants 51
2.6 Banking and money transmission 52
2.7 Lending and credit 57
2.8 Saving and investing 60
2.8.1 Savings 65
2.9 Life insurance products 70
2.9.1 Life insurance 71
2.9.2 Health insurance 72
2.9.3 Annuities 72
2.10 General insurance 73
2.11 Summary and conclusions 76
Case Study 2: Police Mutual Assurance Society
Limited (Police Mutual) 77
3 Marketing financial services: an overview
3.1 introduction 81
3.2 Defining financial services 81
3.3 The differences between goods and services 82
3.4 The distinctive characteristics of financial service 84
3.4.1 Intangibility 85
3.4.2 Inseparability 88
3.4.3 Perishability 90
3.4.4 Heterogeneity 91
3.4.5 Fiduciary responsibility 93
3.4.6 Contingent consumption 94
3.4.7 Duration of consumption 96
3.5 The marketing challenge 96
3.6 Classifying services 97
3.7 Summary and conclusions 99
Case Study 3: Aktif Bank — Aktif online 100
4 Strategic development and marketing planning
4.1 Introduction 103
4.2 Strategic marketing 105
4.3 Developing a strategic marketing plan 108
4.3.1 Company vision and mission 111
4.3.2 Situation analysis 114
4.3.3 Marketing objectives 115
4.3.4 Marketing strategy 116
4.3.5 Market specific strategy 117
4.3.6 Implementation 117
Contents ix
4.4 Tools for strategy development 118
4.4.1 Growth strategies 118
4.4.2 Selecting the product portfolio 120
4.4.3 Competitive advantage 125
4.5 Summary and conclusions 129
Case Study 4: Retail banking in China 129
5 Analysing the marketing environment 134
5.1 Introduction 134
5.2 The marketing environment 135
5.3 The macro-environment 138
5.3.1 The political environment 139
5.3.2 The economic environment 142
5.3.3 The social environment 143
5.3.4 The technological environment 146
5.4 The market environment 153
5.5 The internal environment 156
5.5.1 Resources 156
5.5.2 Competences/capabilities 158
5.5.3 Auditing the internal environment 158
5.6 Evaluating developments in the marketing environment 159
5.7 Conclusions 162
Case Study 5: Private banking in China 163
6 Understanding the financial services consumer 168
6.1 Introduction 168
6.2 Consumer choice and financial services 169
6.2.1 Problem recognition 171
6.2.2 Information search 173
6.2.3 Evaluation of alternatives 174
6.2.4 Purchase decision 175
6.2.5 Post-purchase behaviour 176
6.2.6 Summary 177
6.3 Consumer buying behaviour in financial services 177
6.4 Marketing responses 180
6.5 Researching financial services customers 184
6.5.1 Processes and outputs 184
6.5.2 Research for product and service development 185
6.5.3 Research for brand and communications 187
6.5.4 Stakeholder understanding 189
6.5.5 Market understanding 190
6.5.6 Thought leadership and research for PR 190
6.5.7 Social media monitoring 190
X Contents
6.5.8 Qualitative and quantitative methods, techniques and tools 191
6.5.9 Ethical issues 197
6.6 Conclusions 198
Case Study 6: Behavioural economics and the financial services
consumer 199
7 Segmentation targeting and positioning
7.1 Introduction 210
7.2 The benefits of segmentation and targeting 210
7.3 Successful segmentation 213
7.4 Approaches to segmenting consumer markets 215
7.4.1 Customer characteristics: customer-oriented segmentation 215
7.4.2 Customer needs and behaviours: product-oriented
segmentation 220
7.5 Approaches to segmenting business-to-business markets 221
7.6 Segmentation in a digital world 224
7.7 Targeting strategies 226
7.7.1 Undifferentiated targeting 226
7.7.2 Differentiated targeting 226
7.7.3 Focused segmentation 227
7.7.4 Customised targeting 230
7.8 Positioning products and organisations 230
7.8.1 Perceptual mapping 232
7.9 Repositioning 234
7.10 Summary and conclusions 235
Case Study 7: Entrepreneurial Spark powered by NatWest 236 8 *
8 Internationalisation strategies for financial services
8.1 Introduction 239
8.2 Internationalisation and the characteristics of financial services 240
8.3 The drivers of internationalisation 241
8.3.1 Firm-specific drivers of internationalisation 241
8.3.2 Macro level drivers of internationalisation 244
8.3.3 The extent of internationalisation in financial services
sector 251
8.4 Globalisation strategies 253
8.4.1 International strategies 253
8.4.2 Global strategies 254
8.4.3 Multidomestic strategies 255
8.4.4 Transnational strategies 255
8.5 Strategy selection and implementation 256
8.5.1 Which markets to enter 256
8.5.2 Method of market entry 257
8.5.3 How to market in international markets 259
8.6 Summary and conclusions 259
Case Study 8: Prudential 260
Contents xi
PART II
Customer acquisition 263
9 Customer acquisition and the marketing mix 265
9.1 Introduction 265
9.2 Short-term marketing planning 268
9.3 The role of the financial services marketing mix 270
9.4 The financial services marketing mix: key issues 272
9.4.1 Process 273
9.4.2 Physical evidence 273
9.4.3 People 274
9.5 Customer acquisition and the financial services marketing mix 275
9.6 Digital marketing and customer acquisition 279
9.6.1 Context and convenience 279
9.6.2 Segmentation and targeting 282
9.6.3 Managing the process 282
9.6.4 Migrants, natives and social media 283
9.6.5 Integrating on- and offline 285
9.6.6 Digital organisational structure 286
9.7 Customer acquisition and ethical behaviour 287
9.8 Summary and conclusions 289
Case Study 9: CIC Insurance, Kenya — a marketing mix for
microinsurance 290 10
10 Product and consumer needs 294
10.1 Introduction 294
10.2 The concept of the service product 295
10.2.1 What customers want 295
10.2.2 What organ is at ions can provide 297
10.3 Islamic financial instruments 300
10.4 Influences on product management 302
10.5 Managing existing product lines 308
10.5.1 Product attributes 308
10.5.2 Product modification/product development 312
10.6 New product development 313
10.6.1 Major innovations 314
10.6.2 New service lines 316
10.6.3 New product development strategy 317
10.7 Conclusions 319
Case Study 10: What is a bond? 319
xii Contents
11 Communication and promotion
11A Introduction 326
11.2 Principles of communication 327
11.3 Planning a promotional campaign 332
11.3.1 Stages in communications planning 334
11.3.2 Integrated marketing communications 339
11.4 Forms of communication 339
11.4.1 Advertising 339
11.4.2 Personal selling 342
11.4.3 Publicity/public relations 342
11.4.4 Sales promotion 344
11.4.5 Direct marketing 345
11.5 The digital effect 346
11.6 Summary and conclusions 353
Case Study 11: Direct Line insurance 353
12 Price and cost to the consumer
12.1 Introduction 363
12.2 The role and characteristics of price 364
12.3 The challenges ofpricing for providers of financial services 365
12.4 Methods used for determining price 368
12.4.1 Cost-based pricing 369
12.4.2 Competition-based pricing 373
12.4.3 Marketing-oriented pricing 373
12.5 Price differentiation and preferred lives 383
12.6 Price determination 384
12.7 Pricing strategy and promotional pricing 387
12.8 Impact of digital marketing on charges and pricing 390
12.9 Summary and conclusions 390
Case Study 12: Co-op insurance: using technology to deliver lower
premiums to young drivers 391
13 Consumer convenience and distribution
13.1 Introduction 396
13.2 Channels of distribution: distinguishing features 397
13.3 Distribution methods and models 399
13.3.1 Direct versus indirect distribution 399
13.3.2 Whether products are bought or sold 403
13.4 Distribution channels 404
13.5 Summary and conclusions 429
Case Study 13: The Aviva Financial Adviser Academy 430
PART III
Customer management, and the future trajectory for marketing
Contents xiii
14 Customer-relationship management: principles and practice 435
14.1 Introduction 435
14.2 Drivers of change 436
14.3 Customer persistency — acquire the right customers 441
14.4 Retaining the right customers 442
14.5 Customer retention strategies 444
14.6 The customer-relationship chain 446
14.7 Lifetime customer value 447
14.8 Digital marketing and its impact on CRM 450
14.8.1 Context 450
14.8.2 Customer data management and analytics 452
14.8.3 Integrating on- and offline for effective CRM 457
14.8.4 Personalisation 458
14.8.5 Social CRM 459
14.8.6 Digital tools — CRM systems 463
14.8.7 Data privacy and cookies 464
14.9 Relationship marketing in specific contexts 465
14.9.1 Relationship marketing and the role of intermediaries 466
14.9.2 Relationship marketing: some international perspectives 467
14.10 Summary and conclusions 468
Case Study 14: The American Express international loyalty
programme 469
15 Service delivery and service quality 473
15.1 introduction 473
15.2 The service profit chain 474
15.3 Defining service quality 475
15.4 Models of service quality 476
15.4.1 The Nordic perspective on service quality 477
15.4.2 The North American perspective on service quality 477
15.4.3 Integrating the Nordic and the North American
perspectives 483
15.5 The Gap Model of service quality 485
15.6 The outcomes of service quality 490
15.7 Service failure and recovery 492
15.8 Summary and conclusions 495
Case Study 15: Nationwide Building Society — Nationwide/KPMG
Nunwood service tracker 496
16 Satisfaction, value, trust and fairness in customer relationships 502
16.1 Introduction 502
16.2 Consumer evaluations: value and satisfaction 503
16.2.1 Customer value 503
16.2.2 Customer satisfaction 505
xiv Contents
16.3 Managing customer expectations 506
16.4 The measurement of satisfaction 509
16.4.1 Customer satisfaction 509
16.4.2 Employee satisfaction 512
16.5 Consumer trust 514
16.5.1 The meaning of trust 514
16.5.2 Measuring trust: the Trust Index 516
16.5.3 Trustworthiness 519
16.5.4 How trust is won, retained and lost 521
16.5.5 Trust in a digital world 524
16.6 Treating Customers Fairly 526
16.7 Summary and conclusions 532
Case Study 16: NTUC income: the Orange Revolution 533
17 Marketing: culture, challenges and social responsibility 538
17.1 Introduction 538
17.2 People and culture 540
17.3 Product considerations 541
17.4 Pricing and value 542
17.5 Advertising and promotion 542
17.6 Distribution and access 543
17.7 Processes 547
17.8 Evaluating marketing performance 548
17.9 Corporate social responsibility (CSR) 552
17.10 Towards a sustainable future 554
17.11 Summary and conclusions 561
Case Study 17: Consumer perceptions of CEOs and directors of financial
services companies 562
Bibliography
Index
570
583 |
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author | Ennew, Christine T. 1960- Waite, Nigel Waite, Roisin |
author_GND | (DE-588)170564630 (DE-588)170709892 |
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id | DE-604.BV044627054 |
illustrated | Illustrated |
indexdate | 2024-12-09T15:00:59Z |
institution | BVB |
isbn | 9781138684522 9781138684515 |
language | English |
oai_aleph_id | oai:aleph.bib-bvb.de:BVB01-030025185 |
oclc_num | 1013538921 |
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physical | xx, 591 Seiten Illustrationen |
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spelling | Ennew, Christine T. 1960- Verfasser (DE-588)170564630 aut Financial services marketing an international guide to principles and practices Christine Ennew, Nigel Waite and Róisín Waite Third edition London ; New York Routledge 2018 xx, 591 Seiten Illustrationen txt rdacontent n rdamedia nc rdacarrier Includes bibliographical references and index Financial services industry Marketing Finanzmarketing (DE-588)4426078-7 gnd rswk-swf Finanzmarketing (DE-588)4426078-7 s DE-604 Waite, Nigel Verfasser (DE-588)170709892 aut Waite, Roisin Verfasser aut Erscheint auch als Online-Ausgabe 978-1-315-54376-5 Digitalisierung UB Regensburg - ADAM Catalogue Enrichment application/pdf http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030025185&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA Inhaltsverzeichnis |
spellingShingle | Ennew, Christine T. 1960- Waite, Nigel Waite, Roisin Financial services marketing an international guide to principles and practices Includes bibliographical references and index Financial services industry Marketing Finanzmarketing (DE-588)4426078-7 gnd |
subject_GND | (DE-588)4426078-7 |
title | Financial services marketing an international guide to principles and practices |
title_auth | Financial services marketing an international guide to principles and practices |
title_exact_search | Financial services marketing an international guide to principles and practices |
title_full | Financial services marketing an international guide to principles and practices Christine Ennew, Nigel Waite and Róisín Waite |
title_fullStr | Financial services marketing an international guide to principles and practices Christine Ennew, Nigel Waite and Róisín Waite |
title_full_unstemmed | Financial services marketing an international guide to principles and practices Christine Ennew, Nigel Waite and Róisín Waite |
title_short | Financial services marketing |
title_sort | financial services marketing an international guide to principles and practices |
title_sub | an international guide to principles and practices |
topic | Financial services industry Marketing Finanzmarketing (DE-588)4426078-7 gnd |
topic_facet | Financial services industry Marketing Finanzmarketing |
url | http://bvbr.bib-bvb.de:8991/F?func=service&doc_library=BVB01&local_base=BVB01&doc_number=030025185&sequence=000001&line_number=0001&func_code=DB_RECORDS&service_type=MEDIA |
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