Financial Services Marketing

Curriculum Guideline

Effective Date:
Course
Discontinued
No
Course Code
MARK 3500
Descriptive
Financial Services Marketing
Department
Marketing
Faculty
Commerce & Business Administration
Credits
3.00
Start Date
End Term
201730
PLAR
Yes
Semester Length
15 Weeks X 4 Hours per Week = 60 Hours
Max Class Size
35
Contact Hours
Lecture: 2 Hours Seminar: 2 Hours Total: 4 Hours
Method Of Instruction
Lecture
Seminar
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.

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
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
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.

Textbook Materials

To be determined

Prerequisites

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