Marketing Financial Products


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Marketing Financial Products Textbook | Courseware

Fee-Based Services - Chapter 11

Fee-based services can be broadly classified into corporate and retail fee-based services. Organizations avail of such services for meeting both their short-term and long-term financial requirements. The common fee-based services offered to corporate clients are: cash management services, letter of credit, bank guarantees, bill discounting, factoring/ forfaiting, forex services, merchant banking, registrar services, underwriting services, custodial services, lease and hire purchase, and credit rating. Retail fee-based services are availed of at large by the retail customers for payments, money transfers, personal wealth management, online trading, etc. While pricing of corporate fee-based services are relationship oriented and relatively flexible, retail fee-based services have standardized pricing. Though fee-based services are not promoted using the traditional promotion mix in a major way, their distribution is similar to that of banking products. For corporate fee-based services, marketers use branches extensively, whereas their retail counterparts use advanced technology channels such as the Internet. For wealth management services in the retail segment, relationship-based personal selling is combined with the technology-oriented channels of distribution.

The active involvement of people is necessary for rendering fee-based services as the people factor decides the quality of service delivery. Many of the service providers recruit candidates from reputed colleges and institutions, and train them to handle the customer requirements.

The process factor in service delivery can be analyzed in terms of the flow of activities, the number of steps involved in each activity, and customer involvement. Providers of fee-based services take all these factors into account for achieving high levels of service quality.

Chapter 11 : Overview

Importance of Fee-based Services
Corporate Fee-based Services
Cash Management Services
Letter of Credit and Bank Guarantee
Bill Discounting, Factoring, and Forfaiting
Foreign Exchange Services
Merchant Banking
Registrar, Underwriting, and Custodial Services
Credit Rating

Retail Fee-based Services
Money Transfer and Payment Services

Wealth Management and Online Trading
Other Value Added Services

Factors Influencing Pricing
Pricing of Different Fee-based Services

Distribution and Promotion
Distribution of Fee-based Services
Promotion of Fee-based Services