Marketing Essay Example | Topics and Well Written Essays - 1500 words - 6

Marketing - Essay ExampleThe financial services vault of heaven would include banking, life assurance and pensions, investment worry and asset servicing apart from general insurance, incorporated finance, and broking services sectors. The factors that affect the financial services industry are the government regulation and deregulation from time to time, global competition, changing customer preference behavior. Availability of skilled mental faculty is essential. Marketing financial services, disregardless whether it is face-to-face or through direct selling channels, comes with a high cost. If human element is eliminated, the electronic set up costs is high.Marketing of services is a bigger challenge than marketing of wares. confused reasons account for this and hence strategic marketing plans form to be devised for this. The most important differentiation is that products have well defined parameters and the customer can base his decision to some extent on that. service on the other hand are intangible. In services marketing, it depends to a large extent on the customer. Two different people would react differently to a given situation. Marketing a product is on the premise that there is a market of millions. Hence, all related services like delivery, consequence and after sales service can be built accordingly. As far as marketing financial services is concerned, each individual is a market in himself. Customer relationship management is essential here. Transactional analysis is important because it helps to derive customer knowledge to offer and improve the services. The service staff can also be trained based on this information.In marketing financial services, versatile factors have to be taken into account. Financial services come with a high element of encounter attached to it. Marketing of products and general services require the four Ps (product, price, place and promotion) however in marketing of financial services two