Marketing of Financial Services

BANKING DIPLOMA EXAMINATION

Banking Diploma Courses in Bangladesh under The Institute of Bankers, Bangladesh (IBB)

Marketing of Financial Services-JAIBB

Introduction to Marketing 

The Scope of Marketing

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            In twenty first century marketing is not related with the production and distribution of goods and services. The scope of marketing is so much expanded that it has play vital role to improve our standard of life and at the same time help to create health and wealth society. Following areas or items where marketing principles, policies and strategies are applied and on the other hand these are widely used in marketing activities.

1. Goods :

            Physical goods constitute the bulk of most country’s production and marketing effort.

Physical goods can be food, car, television, clothing, housing and so on. Most of the marketing activities are closely related with goods. Without goods transportation, warehousing, grading and standardization activities can not be performed.

2. Services :

            Services play a vital role in the modern economy. As economies advance, developed nations are give more emphasis on production of services. Services include the work of airlines, hotels, care rental firms, barbers and beauticians, maintenance and repair people and service of accountants, lawyers, engineers, doctors, software programmers and management consultants. Many market offering are consist of a mix of goods and services. Such as fast food restaurant, where the customers are consume both good and service at a time. Pure service would be a psychiatrist listening to a patient or legal advice of lawyer.   

3. Experiences :

            Marketers can create, stage and marketed experience. As for example, Walt Disney World’s Magic Kingdom, where he create a visiting fairy kingdom, stages pirate ship, or haunted house and marketed different experiences for the customers. Another example, customers...