Marketing Financial Products


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Pages : 330; Paperback;
210 X 275 mm approx.

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Textbook Price: Rs. 750;
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Marketing Financial Products Textbook | Courseware

Marketing Financial Products

"Change and growth are throwing up new opportunities and challenges for the Indian financial services sector... This (period of sustained growth) will be driven by continued urban consumer demand, expansion into rural markets, corporate investment in India and overseas, and leveraging of core competencies in international markets."

- K V Kamath, managing director and CEO of ICICI Bank, in the Businessworld BW Banking Special 2006.

Organizations, both existing players and potential entrants, are looking to aggressively compete in the growing banking, financial services, and insurance (BFSI) sector in India. Therefore, there is a lot of action on the marketing front. However, there are very few books that provide a balanced coverage on marketing financial products, either in the international context or in the Indian context. This lacuna is more pronounced in the context of the Indian business environment of the 21st century. This book aims to fill this gap by first addressing the conceptual issues relevant to marketing financial products, and then giving special coverage to each of the major categories of financial products and services in the Indian scenario.

Organization of the Book
The book is organized into three parts. We start with a macro-level picture of marketing financial products, then drill down into the details of different financial products, and finally switch back to the macro-view in terms of trends (in India) and international perspectives.

Part I: In the first part, Marketing Financial Products: The Big Picture, we begin with an introduction to marketing financial products; this sets the context for the remaining chapters in the book. In the second chapter, we discuss consumer behavior, marketing strategy, marketing research, segmentation, targeting, positioning - especially organizational positioning, and the customer service imperative in the BFSI sector. In Chapter 3, we focus on two important determinants of success -- product management and customer relationship management (CRM), from the perspective of a financial product marketer.

Part II: In the second part, Marketing Financial Products: A Closer Look, we take an in-depth look at the marketing aspects for each product category and/or customer segment. Chapters 4, 5, and 6 focus on corporate banking, retail banking, and credit cards respectively. Chapter 7 focuses on non-life insurance and Chapter 8 on life insurance. Marketers in other product categories cannot afford to ignore the competition from small savings and retirement planning products for a share of the consumer spending on financial products. In Chapter 9, we dwell on small savings and retirement planning. Chapter 10 discusses the products and marketing mix for mutual funds, along with the emerging trend of mutual banking. Chapter 11 is dedicated to the marketing of fee-based services -- both corporate and retail services.

Part III: The last part of the book, Trends and International Perspectives, consists of two chapters. Chapter 12 discusses the trends in India, in banking and insurance marketing. Chapter 13 takes a look at the global scenario in financial products marketing, with specific reference to the markets in the United States, the United Kingdom, and China.

Using this Book
As courseware for academic use: As a part of courseware, this book can be used as a basic text for an elective course on marketing financial products and services, in a post-graduate program in management, commerce, or business administration. For a focused one-year program or certificate program on the BFSI sector or on a specific segment of the BFSI sector, this book can be used in the final term.

As a professional reference book: If you are a middle-level/senior manager in the BFSI sector, this book provides you with practical insights on the experiences of various financial product marketers.

- If you are an executive engaged in sales/operations jobs in this sector, this book would be a useful reference to prepare yourself for upward career progression into middle management.

- If you are a marketing professional from other product-based/service-based industries and wish to move laterally into the BFSI sector, this book would be a handy guide to understand the characteristics of financial products and their implications for marketing strategies and tactics.