FINANCIAL SERVICES MARKETING

The course aims at helping students understand the particularities of financial services (products, prices, distribution, people, processes, physical evidence) and obtain all necessary marketing management knowledge in the field of financial services. The course focuses on the characteristics of financial services, particularly banking services and their influence on key strategic issues of the marketing of financial service. Special Emphasis will be placed on the importance of workers for the effective delivery of services and on issues related to processes (operations), developing new services, two-way communication, distribution and pricing of services, as well as trust, fidelity and customer satisfaction.

Objectives

Upon successful completion of this course , the student should: 1. Be able to understand the basic concepts, general principles and characteristics of financial services marketing, as well as the importance of its implementation in the operation and development of the financial services industry. 2. Be familiar with all the processes and functions of financial / banking services marketing. 3. Have acquired the ability to select and implement appropriate financial marketing tactical actions and strategies, particularly in the banking sector.

Prerequisites

Νοt required

Syllabus

1. Application of the principles of marketing in the financial / banking sector. 2. Characteristics of services. 3. The Marketing environment of Financial / Banking services. Developments in international financial environment. Analysis of Greek financial market. 4. Research and marketing information systems in financial services. 5. The purchasing behavior in financial services. Segmentation, targeting, Positioning. 6. The marketing mix. The components of the marketing mix in banking services. 7. The product in financial services. Kinds of banking products / services. Branding and product strategy. Strategic development of new products. 8. The sales and distribution network of financial / banking products and services. Types of networks and strategic distribution decisions. Branches and alternative service networks. 9. Pricing Policy. Factors affecting the formation of pricing (internal - external factors). Pricing policies. 10. The promotion and communication mix. Role and communication styles. Decision making on the promotion and communication mix. Advertising, direct marketing, sales promotion, personal selling. 11. Additional elements of the financial services marketing mix. The human factor, processes and physical evidence. 12. Customer relations management. Quality and customer - employee satisfaction. 13. Organization of marketing in Banks and their financial subsidiaries.