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Marketing

I found the group activities that were part of the course to be quite stimulating. I will admit that the ‘Functional Presentation’ part of the course provided a greater challenge for me than did the mainly theoretical part of course; however, both sections challenged me to find new ways of learning. I found out that most of the time, businesses in today’s world operate in an environment where customers not only have much more information regarding the available financial services, but they also have greater demands. Financial services have to be offered in environments that meet with the customers’ expectations. In the present banking environment, for instance, the way in which financial services are packaged can win a deal or lose it. In the past, how a service was packaged was deemed to be irrelevant; what mattered was the product or service being offered. In the present environment, however, nothing could be further from the truth. The marketing of financial services has come to be regarded as one of the most significant aspects of developing a financial institution. It is an investment that brings great proceeds when well managed. However, there are still many financial corporations that regard it as being something to be looked into when all the other more ‘solid’ objectives have been considered. Service marketing is usually confused with the function of advertising or selling. In reality, marketing takes many factors into account. Some of these include employer branding, corporate culture, reputation, corporate social responsibility, market research, ethics, distribution, price points, product development, new business prospects and communication with customers,. For service marketing to be successful, the main strengths of the firm have to be clearly articulated. In one of the groups I was a part of, which were formed to determine the factors that can result in the success of financial services marketing, we came up with some of the questions that are necessary for every team member to realise what will draw customers. Some of these questions included: What services set our financial services corporation apart from our business rivals? What are the services that make our company exceptional or unique? Which are the ‘behind the scenes’ abilities, or intellectual assets that make the success of our company hard to copy? Which technologies does our firm have that give it an edge over its business rivals? As a group, we came up with a strong brand for out service offerings. The brand included strong expressive messages that could capture the attention of potential customers. We decided to advertise this brand through smart campaigns and creative copywriting. Our company’s strategy was one that stimulated curiosity and enhanced our business’ image. We choose to market it through various communication mediums such as online exposure, business to consumer models, as well as business to business or business to consumer communication. To ensure that we benefitted from the talents of the best graphic designers for our digital campaigns, we, as a group, interviewed various experts within the student community. One big advantage of having an online business presence is that a company can receive feedback from all over the world. Gaining the attention of curious overseas entrepreneurs greatly inspired our group to try even more ...Show more

Summary

Reflective Self-Analysis on Marketing I took a course in financial service marketing last semester that greatly contributed towards my assisting me to apply myself towards my goals. This course helped me to learn how to work as part of a team because there were exercises that called for students to work towards realising particular objectives as a group…
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