Marketing Financial Services: Global Banks Interest on Expats Population
Marketing Financial Services: Global Banks Interest on Expats Population - Essay Example
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It is been identified that expats tend to use a variety of channels for saving and investing the large proportion of their wealth in the current financial environment. Due to the higher earnings, expats are investing a considerable proportion of their capital in real estates and equities. This is because the expats probably view long-term investment opportunities as a safer option particularly during the time of economic uncertainties (HSBC Bank International Limited, 2010). Similar findings were accumulated by the 2012 Expat Explorer Survey, which reveals that expats have reacted to the global economic downturn by changing their saving and outlay patterns. Moreover, the survey findings also identified that expats currently are interested in long-term investments (HSBC Bank International Limited, 2012). Moreover, it is recognized that expats often need to confront with various problems related to wealth management, banking, and currency management. Hence, expats have become one of the potential customers for global banks for attracting them towards their numerous services, in turn, enjoying the benefits of having large customer base while simultaneously helping expats to effectively deal with these problems. Global banks view expats as their target customers for increasing customer base and revenue. The global banks with their services, such as services related with tax obligation intend to provide valuable guidance to expats to make their life easier in a new country and seek greater profitability out of the services rendered by the banks to expats’ population. As stated earlier, expats have generally high salaries as well as they are confronted with many financial challenges, in such cases, global banks intend to lure the savings of expats towards the banks with their numerous products and services to enhance their overall profitability.
An essay "Marketing Financial Services: Global Banks’ Interest on Expats Population" outlines that it is been identified that expats tend to use a variety of channels for saving and investing the large proportion of their wealth in the current financial environment. …
The paper tells that it is possible two-ways – either through telephone banking services or online services that students can access from anywhere whether in college, school, home or sitting and passing the free time in the canteen. The best part of becoming a customer of Bank AlJazira female customers is that they can remain updated on each and every transaction and that too with total privacy and comfort of operation.
The conclusion from this review states that Morgan Stanley is a well known in the financial sector and is based in the United States but has offices all over the world. The biggest strength of the company is its brand image and a large base of employees. The company also has experience of many years in the financial sector.
With time, the complexities of trade and business have been multiplied. Globalization and technological advancements are two major factors that have encouraged the international trade activities and it has also expanded the scope of trade and business. The leading world economies gradually understood the importance of international trade for bringing growth and development.
The researcher of this essay aims to pay special attention to types of products and strategies for the development of financial service. There are six types of new products that are in a company and marketplace. These include new-to-the-world, new product lines, additions to existing product lines, enhancement as well as revision of existing products, repositioning and cost reductions.
Banks are among the institutions that for a long period have been respected and held in high esteem by many people in the United Kingdom and the world as a whole.
That is why many people all over the world have known no other place of putting their money apart from the banks due to the trust that they have had in them together with trust and security.
MCorp conducted a survey with 67 financial services firms of various sizes, across multiple lines of business, to determine the top branding and marketing priorities for 2005. These priorities depict what customers want and what is important to their financial success and how marketing affects the financial services industry.
1393). To put it bluntly, these firms are just taking advantage of the financial market's information asymmetry to increase their bottom line.
Moreover, interest rate clustering appears to be beneficial to the price setter, but when taken in the aggregate very costly for the customers.
It will then discuss market segmentation and targeting strategies to determine their effectiveness. Finally the aspects of product and promotion from the marketing mix will be assessed including their incorporation into the overall
The financial service sector has been growing at the fastest rate in the UK economy (Ennew & Et. Al, 1995).
Marketing of the financial service is quite a recent phenomenon even in developed nations of the world. The financial services industry
10 pages (2500 words)Assignment
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