Marketing of financial products

Abstract

The project in initial sections investigates the usually followed strategies and the theoretical frameworks at different stages of financial product marketing. In the subsequent sections the afore-discussed frameworks and approaches would be sighted. The following sections then discuss the marketing cycle for insurance and credit cards. The project initially analyses the general marketing strategy and methodology as discussed in Sections III and IV. This is based on secondary research- with references being cited wherever necessary and in-depth interviews with executives of financial institutes. Section- III develops the marketing strategy, the same having been introduced in Section-I. Since the project focuses on liability based product, the proportion of content devoted is biased in favor of the same. Thereof, the focus shifts to specific product markets- Insurance and credit cards, which are discussed in Sections V and VI. These sections present the theoretical frameworks, general approach to marketing, competitive benchmarking- gathered through interviews, surveys and secondary research. These sections also include the groundwork of the project; methodology and the attempted research focus which includes- surveys and interviews conducted. Motif of each of this has been supplemented along. These are attempted to gain the customer perspective as well as that of financial institutions, so as to identify the gaps and patterns, which may be used for improvement of marketing strategies.