FIN370 Chapter 6

Which is NOT a definition of marketing?

• the management process

  responsible for profitably identifying,

  anticipating and satisfying consumer

  requirements

• the integrated process of

  creating and sustaining mutually beneficial

  relationships with customers (new and

  existing) through creating, attracting, retaining

  and ensuring customer loyalty towards the

  banks’ products and services that create value

• the process of dealing with or controlling things or people

• a Social and

  managerial process by which individuals and

  groups obtain what they need and want through

  creating and exchanging products and value

  with others.

Match the following market segmentation of financial services:-

• Education loan

• Student

• Car loan

• High net worth individuals

• investment management services

• Working Adults

Reorder the following effective marketing strategy:-

• Conduct Situation analysis

• Develop customer-focused marketing

• Decide on Marketing Mix

• Implement and control the marketing plan

Marketing of financial services is different from products in terms of intangibility. This is because:-

• A service cannot be seen, touched, or displayed

• it is produced and subsequently sold to consumers

• they cannot be stored and must be produced on demand

• are indirectly involved with the economy and the policy

Marketing of financial services is different from products in terms of inseparability. This is because:-

• A service cannot be seen, touched, or displayed

• are typically sold to customers and then produced

• they cannot be stored and must be produced on demand

• are indirectly involved with the economy and the policy

Marketing of financial services is different from products in terms of perishability. This is because:-

• A service cannot be seen, touched, or displayed

• are typically sold to customers and then produced

• they cannot be stored and must be produced on demand

• are indirectly involved with the economy and the policy

Marketing of financial services is different from products in terms of variability. This is because:-

• A service cannot be seen, touched, or displayed

• is highly dependent on the quality of the personnel conducting the transaction

• they cannot be stored and must be produced on demand

• are indirectly involved with the economy and the policy

Which is NOT one of the main 4Ps in marketing mix?

• Product

• Promotion

• Place

• Price

• People

Choose all the additional 3Ps that some marketers argue are relevant to service

industries.

• People

• Process

• Physical evidence

• Packaging