BANK MARKETING
C1_intro_services_vs_products
Jun 26, 2015
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BANKMARKETING
Sr
HELLOmy name is
Sergiu
Mon
Tue
Wed
Thu
Fri SatSun
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APRIL
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29 30 1 2 3 4 5
MAY
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THE PLAN
March 27th
Lecture 0 MARKETING AND BANKING
Lecture 1 SERVICES VS. PRODUCTS
April 10thLecture 2 QUALITY OF SERVICES
Lecture 3 KNOWING YOUR CUSTOMER
April 24thLecture 4 SEGMENTATION
Lecture 5 UNDERSTANDING COMPETITORS
May 8thLecture 6 BANK SERVICES, INNOVATION AND
PRICING
Lecture 7 MARKETING CHANNELS
May 22nd Lecture 8 COMMUNICATION FOR BANKS
NOTHINGI WILL TELL YOU
ISUNIVERSALLY
TRUE
IF IT SOUNDS WRONG,
ASK
MARKETINGAND
BANKING
LECTURE 0
WHAT DO WE THINK ABOUT WHEN WE THINK
ABOUT
MARKETING
YOU AREWHAT YOUR CUSTOMER THINKS YOU ARE
WHAT DO PEOPLE THINK ABOUT FINANCE AND BANKING?
WHERE DOES MARKETING FIT IN FOR A BANK?
SERVICESVS.
PRODUCTS
LECTURE 1
IMPORTANCE
Uni
ted
Stat
es
Chi
na
Japa
n
Indi
a
Ger
man
y
Rus
sia
Uni
ted
King
dom
Bra
zil
Fra
nce
Ital
y
agriculture industry services
6%
31%
64%
agriculture industry services
CHARACTERISTICS
The McDonald’s website
The Citibank website
NOTHING TO TOUCH?
INTANGIBILITY
Services cannot be inventoried
Services cannot be patented
Services cannot be readily displayed or communicated
Pricing is difficult
CONSEQUENCES
PRODUCTION AND CONSUMPTION ARE
SIMULTAENOUS.
INSEPARABILITY
Customers participate in and affect the transaction
Customers affect each other
Employees affect the service outcome
Decentralization may be essential
Mass production is difficult
CONSEQUENCES
QUALITY CAN VARY DRASTICALLY.
HETEROGENEITY
Service delivery and customer satisfaction depend on employee
actions
Service quality depends on many uncontrollable factors
There is no sure knowledge that the service delivered matches what was
planned and promoted
CONSEQUENCES
PERISHABILITY
It is difficult to synchronize supply and demand
Services cannot be returned and resold
CONSEQUENCES
INTANGIBILITY
INSEPARABILITY
HETEROGENEITY
PERISHABILITY