Marketing Strategies of financial firms Essay Example | Topics and Well Written Essays - 1000 words

Marketing Strategies of financial firms - Essay ExampleMy paper depart be able to answer the questions of various problems and these will beWilliam J. Stanton states that without the help of marketing technique, firms are unavailing to gain maximum profit as it is the key that provides awareness about your product and services. Marketing strategies real involves opposite phenomenas that helps to promote the product and services in the market. Traditionally, the products are marketed and promoted, but with growth in cartridge holder and technology, there arises a need to market the latest and advance services provided by the financial firms. The employment of electronic commerce (e-commerce) in the financial firms develops latest financial services that need to use promotional and marketing strategies. According to Adam Smith, financial firms do non grow till 1980 but afterwards in the year different firms in America and Canada realize that there is a need to transplant the s ervices provided by these financial firms. At that time the concept of setment banking, advisory and commercial banks emerges alone within the boundary of the United States of America and Canada. As the firm start introducing the ecommerce techniques in the financial firms different financial cards, debit cards and credit cards, emerges. Moreover, due to diversification of different financial firm and the contention within them, there materialize the need of promotional campaign. Therefore, the need for the marketing strategies for financial firms come into date and now due to high competition firms are trying to promote their cheap but whole tone services through different marketing campaigns and programs. Marketing strategies for a financial firm focuses on the 4Ps of marketing. These 4 Ps are the price, promotion, place and product. The insurance companies require capturing the maximum consumer market with the help of price variable as they should introduce low price tag cert ificates to save the future of their customers. Promotion factor for the financial firms did not remain attach with the promotion through visual and audio Ads on television and radio kinda firms are now require to promote their services through the use of internet and other incorporate marketing techniques. The reason for the use is to globalize their services. Africans from last 3 years are trying to invest their money in foreign banks