Marketing of financial products Marketing Mix - Product and Product Mix

100 %
0 %
Information about Marketing of financial products Marketing Mix - Product and Product Mix

Published on March 17, 2014

Author: ProfParveen9



Marketing of financial products Marketing Mix - Product and Product Mix

1 Marketing of Financial Products Lecture – 4 Parveen Sharma 1 MoFP for TKW’s

2 Contents Marketing Mix  The concept  Marketing Mix - Product  Defining Product  Product Mix  Product Life Cycle  The Boston Matrix  Product Strategy for FI’s  Product Development Process MoFP for TKW’s 2

3  It is the set of tools that the firm uses to pursue its marketing objectives in the target market  Levers marketers adjusts to satisfy customers  Marketing mix is composed of a large battery of advices which might be employed to induce customers to buy a product. Marketing Mix = Controllable Variables(4P’s) NN Marketing Mix MoFP for TKW’s

4 NN Market Segmentation – The concept MoFP for TKW’s Traditional Marketing Mix Modified Marketing Mix

5 NN Market Segmentation – The concept MoFP for TKW’s Consumer: Life stage solution by Money Back plans Consumer convenience Consumer Cost as Price

6  It is appropriate to reconsider the traditional marketing mix in concept of services. As the challenges encountered by service marketers – like inseparability & perishability necessitate the extension of marketing mix to include People, Process & Physical evidence. The Extended Marketing Mix(7P’s) NN Market Segmentation – The concept MoFP for TKW’s 1. Product 2. Price 3. Place 4. Promotion 5. People 6. Process 7. Physical Evidence

NN The additional P’s in Service Marketing 7  Simultaneity or inseparability of service provider from customer (People)  Inability to hold inventory marking it critical for the service process to flow smoothly to match demand & supply(Process).  The need to make highly intangible service offering appear tangible (Physical Evidence). MoFP for TKW’s

NN 8 MoFP for TKW’s  Kotler opines ‘A product is anything that can be offered to a market for attention, acquisition, use or consumption that might satisfy a want or need’. A Glance at Banking Products Marketing Mix - Product

NN Marketing Mix - Product 9 MoFP for TKW’s Do not just sell Products instead sell solution that customer needs.

NN 10 MoFP for TKW’s Marketing Mix - Product Product Mix  Set of all products offered for sale/investment  It consists of various Product Lines  Dimensions of Product Mix  Width  Depth  Length Product Mapping: to show the position of a companies products against competitors products

NN 11 Marketing Mix - Product A Look at the broad Product Mix of DSP Blackrock AMC MoFP for TKW’s Product Mix Road Block advertisement by Chase

NN 12 MoFP for TKW’s Marketing Mix - Product Product Life Cycle  No product can get a consistent positive response for longtime, hence if FI’s are aware of PLC stage of their products necessary steps can be taken to overcome the adverse condition.  PLC helps marketers in making possible optimal development of marketing resources.  PLC is not applicable to generic banking services like Current A/c, Saving A/c…

NN 13 MoFP for TKW’s Marketing Mix - Product Product Innovation  Product innovation & modification is very crucial to increase the sales of a saturated /matured products. Reliance Any Time Money Card collects Rs. 1,500 crore. The fund house has issued over 3 lakh ATM cards to investors so far(as on Jan 2012). Reliance ATM Money Card was launched in 2006 and modified Nov 2011. Source: Café Mutual

NN 14 MoFP for TKW’s Marketing Mix - Product The Boston Matrix

NN 15 MoFP for TKW’s Marketing Mix - Product Product Strategy for FI’s  Sound Product Mix  Blend of Core & Peripheral services  Identify emerging opportunities  Continuous product innovation & development  Sound product focus and management  Declare your product obsolete much easier than others  Product Association & Tie ups Equal focus on the other P’s, C’s.

NN 16 MoFP for TKW’s Marketing Mix - Product Product Development Process IdeaGeneration Internal - Product Function - Sales Requirement - Other Employees External - Distributor - Competitors - Suppliers - Technological & regulatory developments Screening Ascertaining whether the proposed product is in sink with the organization objective BusinessAnalysis Analyzing chances of success by formal research Quantitative parameters - Demand forecast - Cost projections - Competitive activity Development Turning the product concept in reality Includes: - Filing --Launching

17 MoFP for TKW’s NN ? ueriesQ 17 Contact me @ +91-9050050288 or Email to

18 NN Term for the Lecture 18 MoFP for TKW’s RBI key policy rates Repo Reverse Repo CRR SLR

19 Thank You MoFP for TKW’s 19

Add a comment

Related presentations

Brands are more invested today than ever before on curating and distributing paid,...

Marketers need to be creating and publishing original content across many differen...

As content marketing continues to increase in popularity in every industry, more m...

Il Direct Email Marketing (DEM) è una tipologia di marketing diretto che usa la po...

This presentation contains all 120 rules from Part 1 of the 2nd edition of "Email ...

Olá, somos o Paulo Bernardes e o Pedro Silvestre, temos uma ambição em comum de me...

Related pages

Marketing strategy | Marketing mix: product, price, place ...

The marketing mix is the set of controllable, tactical marketing tools that a company uses to produce a desired response from its target market.
Read more

The Marketing Mix: Product - Consumer Behavior: The ...

The Marketing Mix: Product. Products come ... product mix describes the ... Salt offers few varieties of its product. Products may be ...
Read more

Ch. 5: The Marketing Mix and Product - People at Creighton ...

The Marketing Mix and Product. ... A Part of the Marketing Mix. Product is actually a ... A group of products within a product mix that are closely ...
Read more


... Video Channel | Glossary | Marketing Quizzes ... PRODUCT MIX, PRODUCT LINES AND PRODUCT ... a profit from each of the products in the product mix.
Read more

Marketing Mix - NetMBA Business Knowledge Center

Marketing > Marketing Mix. ... marketing mix included product ... the early days of the marketing concept when physical products represented a ...
Read more

The Marketing Mix - QuickMBA: Accounting, Business Law ...

The marketing mix decisions of product ... are known as the marketing mix or the 4 P's of marketing. ... | Entrepreneurship | Finance ...
Read more

Understanding the Marketing Mix Concept – 4Ps

... a successful product offering. The marketing mix is most ... as many specific products to market as possible. Marketing mix ... Finance; Human ...
Read more

Marketing mix (product, place, price, promotion ...

The marketing mix is one of the most famous marketing terms. The marketing mix is the tactical or operational part of a marketing plan. The marketing mix ...
Read more