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Financial Services Marketing 2e, 2nd Edition

Book Description

This new edition balances the theoretical and the practical for advanced undergraduates, those specialising in financial services at postgraduate level, individuals undertaking professional courses such as those offered by the IFS School of Finance, and employees working within the financial services sector. Ennew & Waite draw from global business cases in both B2B and B2C marketing, taking a unique approach in terms of structure by splitting discussion between marketing for acquisition and marketing for retention.

Table of Contents

  1. Cover
  2. Half Title
  3. Title Page
  4. Copyright Page
  5. Dedication
  6. Contents
  7. List of tables
  8. List of figures
  9. Foreword
  10. Acknowledgements
  11. Introduction
  12. PART I Context and strategy
    1. 1 The role, contribution and context of financial services
      1. 1.1 Introduction
      2. 1.2 Economic development
      3. 1.3 Government welfare context
      4. 1.4 Lifetime income smoothing
      5. 1.5 The management of risk
      6. 1.6 Financial exclusion
      7. 1.7 Mutual and proprietary supply
      8. 1.8 Regulation of financial services
      9. 1.9 A new philosophy and approach to regulation
      10. 1.10 Summary and conclusions
    2. 2 The financial services marketplace: structures, products and participants
      1. 2.1 Introduction
      2. 2.2 Some historical perspectives
      3. 2.3 The geography of supply
      4. 2.4 Financial advice
      5. 2.5 An outline of product variants
      6. 2.6 Banking and money transmission
      7. 2.7 Lending and credit
      8. 2.8 Saving and investing
      9. 2.9 Life insurance products
      10. 2.10 General insurance
      11. 2.11 Summary and conclusions
    3. 3 Marketing financial services: an overview
      1. 3.1 Introduction
      2. 3.2 Defining financial services
      3. 3.3 The differences between goods and services
      4. 3.4 The distinctive characteristics of financial services
      5. 3.5 The marketing challenge
      6. 3.6 Classifying services
      7. 3.7 Summary and conclusions
    4. 4 Strategic development and marketing planning
      1. 4.1 Introduction
      2. 4.2 Strategic marketing
      3. 4.3 Developing a strategic marketing plan
      4. 4.4 Tools for strategy development
      5. 4.5 Summary and conclusions
    5. 5 Analysing the marketing environment
      1. 5.1 Introduction
      2. 5.2 The marketing environment
      3. 5.3 The macro-environment
      4. 5.4 The market environment
      5. 5.5 The internal environment
      6. 5.6 Evaluating developments in the marketing environment
      7. 5.7 Summary and conclusions
    6. 6 Understanding the financial services consumer
      1. 6.1 Introduction
      2. 6.2 Consumer choice and financial services
      3. 6.3 Consumer buying behaviour in financial services
      4. 6.4 Marketing responses
      5. 6.5 Researching financial services customers
      6. 6.6 Summary and conclusions
    7. 7 Segmentation, targeting and positioning
      1. 7.1 Introduction
      2. 7.2 The benefits of segmentation and targeting
      3. 7.3 Successful segmentation
      4. 7.4 Approaches to segmenting consumer markets
      5. 7.5 Approaches to segmenting business-to-business markets
      6. 7.6 Targeting strategies
      7. 7.7 Positioning products and organisations
      8. 7.8 Repositioning
      9. 7.9 Segmentation in a digital world
      10. 7.10 Summary and conclusions
    8. 8 Internationalisation strategies for financial services
      1. 8.1 Introduction
      2. 8.2 Internationalisation and the characteristics of financial services
      3. 8.3 The drivers of internationalisation
      4. 8.4 Globalisation strategies
      5. 8.5 Strategy selection and implementation
      6. 8.6 Summary and conclusions
  13. PART II Customer acquisition
    1. 9 Customer acquisition and the marketing mix
      1. 9.1 Introduction
      2. 9.2 Short-term marketing planning
      3. 9.3 The role of the financial services marketing mix
      4. 9.4 The financial services marketing mix: key issues
      5. 9.5 Customer acquisition and the financial services marketing mix
      6. 9.6 Digital marketing and customer acquisition
      7. 9.7 Summary and conclusions
    2. 10 Product management
      1. 10.1 Introduction
      2. 10.2 The concept of the service product
      3. 10.3 Islamic financial instruments
      4. 10.4 Influences on product management
      5. 10.5 Managing existing product lines
      6. 10.6 New product development
      7. 10.7 Summary and conclusions
    3. 11 Promotion
      1. 11.1 Introduction
      2. 11.2 Principles of communication
      3. 11.3 Planning a promotional campaign
      4. 11.4 Forms of promotion
      5. 11.5 New communications tools
      6. 11.6 Summary and conclusions
    4. 12 Pricing
      1. 12.1 Introduction
      2. 12.2 The role and characteristics of price
      3. 12.3 The challenges of pricing for providers of financial services
      4. 12.4 Methods used for determining price
      5. 12.5 Price differentiation and preferred lives
      6. 12.6 Price determination
      7. 12.7 Pricing strategy and promotional pricing
      8. 12.8 Summary and conclusions
    5. 13 Distribution channels: routes-to-market
      1. 13.1 Introduction
      2. 13.2 Distribution: distinguishing features
      3. 13.3 Distribution methods and models
      4. 13.4 Distribution channels
      5. 13.5 Summary and conclusions
  14. PART III Customer development
    1. 14 Customer relationship management: principles and practice
      1. 14.1 Introduction
      2. 14.2 Drivers of change
      3. 14.3 Customer persistency – acquire the right customers
      4. 14.4 Retaining the right customers
      5. 14.5 Customer retention strategies
      6. 14.6 The customer relationship chain
      7. 14.7 Lifetime customer value
      8. 14.8 Digital marketing and its impact on CRM
      9. 14.9 Relationship marketing in specific contexts
      10. 14.10 Summary and conclusions
    2. 15 Service delivery and service quality
      1. 15.1 Introduction
      2. 15.2 The service—profit chain
      3. 15.3 Defining service quality
      4. 15.4 Models of service quality
      5. 15.5 The gap model of service quality
      6. 15.6 The outcomes of service quality
      7. 15.7 Service failure and recovery
      8. 15.8 Summary and conclusions
    3. 16 Satisfaction, value, trust and fairness in consumer relationships
      1. 16.1 Introduction
      2. 16.2 Customer evaluations: value and satisfaction
      3. 16.3 Managing customer expectations
      4. 16.4 The measurement of satisfaction
      5. 16.5 Consumer trust
      6. 16.6 Treating customers fairly
      7. 16.7 Summary and conclusions
    4. 17 Marketing: culture, challenges and social responsibility
      1. 17.1 Introduction
      2. 17.2 People and culture
      3. 17.3 Product considerations
      4. 17.4 Pricing and value
      5. 17.5 Advertising and promotion
      6. 17.6 Distribution and access
      7. 17.7 Processes
      8. 17.8 Evaluating marketing performance
      9. 17.9 Corporate social responsibility (CSR)
      10. 17.10 Towards a sustainable future
      11. 17.11 Summary and conclusions
  15. Bibliography
  16. Index