Financial Services Marketing

Faculty
Commerce & Business Administration
Department
Marketing
Course Code
MARK 3500
Credits
3.00
Semester Length
15 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
35
Method Of Instruction
Lecture
Seminar
Typically Offered
To be determined
Campus
Online

Overview

Course Description
Marketing in the financial services sector has experienced significant growth and change in recent years, fuelled by new technologies, increased competition, changing consumer attitudes, and product development. Marketers in this field are constantly challenged, and require a broad skill set and a variety of approaches to execute their marketing activities successfully. This course will explore how financial institutions develop an understanding of their target consumers to enable them to design appropriate products and services, and then how they market their products and services effectively. The marketing mix for financial services will be covered, along with the concepts of marketing as they apply to the unique nature of services. Relationship marketing, attracting and retaining customers, marketing tools and techniques, and strategy development will all be emphasized.
Course Content
  1. The concept of services marketing, and services marketing as it applies to financial institutions
  2. Understanding and valuing the financial services customer as a key to organizational success
  3. Designing products and services tailored to the target customers, respecting their risk profile and their needs
  4. Integrating advertising, sales promotions, public relations and personal selling for effective marketing
  5. Understanding regulations, ethics and social responsibilities.
  6. Managing, defining and measuring customer satisfaction.
  7. Understanding the variety of tools and resources available to comprehend, evaluate, and manage customer relations
  8. The process of delivering financial services effectively and efficiently
  9. Managing the financial institution's physical presence
  10. The challenge of stellar website and technology design
  11. People issues:  managing financial institution marketing and sales staff
  12. Service issues and remedial strategies
  13. Customer acquisition and retention strategies:  exceeding customer expectations
  14. Financial services marketing planning:  putting all of the elements together for seamless service
Methods Of Instruction

The course will involve a blend of lectures, discussions, videos, cases, on-line activities, and seminars.  Presentations by students are an integral part of the course.

Means of Assessment
Projects, Cases & Presentations        50%
Midterm examination  20%
Final examiniation  20%
Course participation  10%
Total 100%

STUDENTS MUST COMPLETE ALL COMPONENTS OF THE COURSE TO OBTAIN CREDIT FOR THE COURSE.

Learning Outcomes

At the end of the course, the successful student should be able to:

  1. demonstrate an understanding of the key concepts and the nature of financial services marketing
  2. explain the importance and  the challenges involved in marketing in financial institutions
  3. demonstrate an understanding of consumer lifestyle and lifestage in the development of products and services
  4. design marketing research, customer analysis, loyalty, acquisition and retention, and promotion initiatives for the financial services sector
  5. create a set of relevant metrics for measuring marketing and corporate progress
  6. utilize industry standard software to analyze marketing data and produce reports and presentations
  7. develop strategies and tactics for effective marketing in the financial services industry
Textbook Materials

To be determined

Requisites

Prerequisites

MARK 1120 (Introductory Marketing) and MARK 2150 (Personal Selling)

OR MARK 1120 AND currently active in Post-Degree Diploma in Marketing

OR currently active in one of the following:
Post-Degree Diploma in Financial Planning
Post-Baccalaureate Diploma in Finance

Corequisites

No corequisite courses.

Equivalencies

No equivalent courses.

Requisite for

This course is not required for any other course.

Course Guidelines

Course Guidelines for previous years are viewable by selecting the version desired. If you took this course and do not see a listing for the starting semester / year of the course, consider the previous version as the applicable version.

Course Transfers

Institution Transfer Details Effective Dates
Kwantlen Polytechnic University (KPU) KPU MRKT 2XXX (3) 2008/01/01 to -
Langara College (LANG) LANG MARK 2XXX (3) 2009/05/01 to -
Simon Fraser University (SFU) SFU BUS 2XX (3) 2008/01/01 to -
Thompson Rivers University (TRU) TRU BBUS 3XXX (3) 2010/09/01 to -
Thompson Rivers University (TRU) TRU BBUS 3XX (3) 2008/01/01 to 2010/08/31
University of the Fraser Valley (UFV) UFV BUS 3XX (3) 2008/01/01 to -
University of Victoria (UVIC) UVIC COM 3XX (1.5) 2008/01/01 to -

Course Offerings

Fall 2020

CRN
Days
Dates
Start Date
End Date
Instructor
Status
Location
34923
Tue
08-Sep-2020
- 07-Dec-2020
08-Sep-2020
07-Dec-2020
Cloghesy
Brita
Open
Online
This course will include synchronous on-line activities. Students should plan to be available on-line at scheduled course times. Access to computer with reliable internet, webcam and speakers/mic or headset will be required
Max
Enrolled
Remaining
Waitlist
35
28
7
0
Days
Building
Room
Time
Tue
15:30 - 18:20