UNIVERSITY OF PROFESSIONAL STUDIES (UPSA)

DEPARTMENT OF MARKETING
COURSE NAME: Marketing of Financial services
COURSE CODE: LEVEL:
LECTURER: Dr. Godwin Ansah
CONTACT: ansah.godwin@gmail.com

COURSE DESCRIPTION:
This course builds on the key principles learned in marketing and places them in the context of the
financial sector. As traditional distinctions among types of financial institutions continue to blur,
competing in this marketplace will require strategic not just tactical marketing. Financial Services
Marketing gives students the opportunity to examine the contribution that marketing can make to the
success of an organization that operates in this industry. The focus is on learning how to solve
marketing problems and applying marketing theory to real life situations. Key topics include: the
revisiting of marketing definition and concepts, environmental factors that impact marketing in the
financial services industry; product development; pricing; distribution channels, promotion, and the
service marketing mix with special emphasis on the people in service delivery and physical evidence.
The course will also look at the impact of technology on marketing in the financial services sector;
strategic planning; branch distribution network system; service delivery and customer care as well as
the need for integrated marketing towards a common goal.
Course outcomes
Upon successful completion of this course the students will have reliably demonstrated the ability to:
1. Review marketing and the marketing concept
2. Analyse the environmental forces that shape the financial services marketplace
3. Determine effective strategies and tactics for managing the marketing function within a
financial institution.
4. Apply the marketing mix strategies to gain competitive advantage
5. Appreciate the need for integrated marketing towards achieving a common organizational
goal.
6. Appreciate the importance of the human factor in the provision of financial services

LECTURE ONE
WHAT IS MARKETING?
Definition of marketing and key elements of definition
The Marketing Concept
An Overview of Services

LECTURE TWO
THE MARKETING ENVIRONMENT

Melamine Case Study
Macro financial environment
o Political
o Economic
o Social
o Technological
o Ecological
Micro financial environment
o Customers
o Marketing intermediaries
o Competitors
o Publics
o Producers and suppliers
o Resources

LECTURE THREE
SERVICES MARKETING MIX
Traditional marketing mix and financial services mix (Extended Marketing Mix (7Ps)
The distinctive characteristics of services and dealing with these unique characteristics
Servicescapes and Physical Evidence

LECTURE FOUR
- OVERVIEW OF FINANCIAL SERVICES
LECTURE FIVE
STRATEGIC MARKETING PLANNING DEVELOPMENT
Marketing planning process
o Establishing corporate mission
o Conducting situational analysis
SWOT analysis
o Determining objectives
o Formulation of marketing strategies and marketing mix decisions
Ansoffs matrix, Porters generic strategies
o Implementing marketing plan
LECTURE SIX
PRODUCT DECISIONS IN THE FINANCIAL SERVICES SECTOR
Concept of the service product (Components of a service product)
Product Strategies (Product mix strategies and Product life cycle strategy)
New product development
New product failures
LECTURE SEVEN
PRICING FINANCIAL SERVICES
Definition and Role of pricing
Pricing and Banks profitability
Pricing strategies
Process of pricing

LECTURE EIGHT
PROMOTION OF FINANCIAL SERVICES
Overview of Communications
Communication process
Planning and designing a promotional campaign
Promotional mix decisions
o Advertising
o Public relations
o Direct marketing
o Publicity
o Sales promotion
o Personal Selling

LECTURE NINE
BUILDING CUSTOMER RELATIONSHIPS

Concept of relationship marketing
Benefits of long-term relationship to customers and firms
Customer lifetime values
Customer profitability segments
o Profitability tiers
Relationship development strategies
o Delivering the core service
o Building relational bonds

LECTURE TEN
DISTRIBUTION IN FINANCIAL SERVICES
Distribution in a financial service industry
Physical channels of distribution for bank services
o Branch networks
Beyond brick and Mortar
o Technology
Managing the selling process
o Recruiting
Personal selling attributes
Selling skills
o Training
o Motivating
o Monitoring results
o Evaluating sales efforts
o Rewarding sales efforts

Guide to final examination and assessments
The final exams shall be a three hour paper with five questions out of which students will be
required to answer two or three questions.

There shall also be a mid-semester group/individual assignment which will account for 30% of
the final score.
Allocation of marks
Class assignments 30%
Final exams 70%
Teaching method
Mainly lectures requiring active student participation.
Teaching materials
Teaching materials shall be mainly lecture notes and handouts.
References
Ennew, C., Watkins, T., and Wright, M., (1995), Marketing Financial Services, Butterworth-
Heineman Ltd. Oxford.
Mettle, D.C., (2007), Marketing of Financial Services: Bankers Work Book Series. Chartered
Institute of Banking, Ghana.
Other relevant materials relating to Marketing, Marketing Financial Services and Services
Marketing
Articles on marketing financial services.