PEMNAMAF Marketing of Financial Services

School of Business Administration in Karvina
Summer 2022
Extent and Intensity
2/1/0. 4 credit(s). Type of Completion: zk (examination).
Teacher(s)
Ing. Kateřina Matušínská, Ph.D. (lecturer)
Guaranteed by
Ing. Kateřina Matušínská, Ph.D.
Department of Business Economics and Management - School of Business Administration in Karvina
Contact Person: Ing. Kateřina Matušínská, Ph.D.
Timetable
Tue 11:25–13:00 B208
  • Timetable of Seminar Groups:
PEMNAMAF/01: Tue 13:05–13:50 B208, K. Matušínská
Prerequisites (in Czech)
FAKULTA ( OPF ) && TYP_STUDIA ( N ) && FORMA ( P )
The basic course of marketing.
Course Enrolment Limitations
The course is only offered to the students of the study fields the course is directly associated with.

The capacity limit for the course is 30 student(s).
Current registration and enrolment status: enrolled: 31/30, only registered: 0/30
fields of study / plans the course is directly associated with
Course objectives (in Czech)
To acquaint students with specific problems of services marketing in the financial sector. The course explains the specifics of financial services and marketing mix in financial services-7P. Attention is also paid to customer behaviour, segmentation of financial markets, marketing research, marketing strategy creation and issue of building long-term and mutually beneficial relationships with customers - CRM.
Syllabus (in Czech)
  • 1.The role of marketing in financial services
    Definition of financial marketing, financial market, services, characteristics of financial services and services marketing mix – 7Ps. Current trends in the international financial services market. Fintech companies. Automation and the use of robots. Brief description of the crucial financial institutions in the Czech Republic and the comparison with the situation abroad. Financial literacy.
    2.The process STP in financial markets and consumer behaviour
    The process STP - segmentation, targeting and positioning. Segmentation definition. Segmentation criteria. Characteristics of segments. The clients of retail banking and corporate banking. Private banking. Targeting definition. Targeting strategies. Positioning definition. Strategies of positioning. Positional map. Behaviour of customers in financial services.
    3.Marketing mix of services – I. Part
    Product as financial service definition. Financial product strategies, financial product life cycle. Cross-selling and up-selling. Specifics of payment cards marketing. Price in financial services definition. Types of prices in financial area. Pricing strategies focusing mainly on pricing goals and methods. Distribution strategy in financial area definition. Various types and methods of structuring distribution channels (tradition versus new types of branches, technological distribution, virtual banking). Multichannel distribution of financial services. Marketing communication is explained through a marketing communication mix with focus on new (ambient) media.
    4.Marketing mix of service – II. Part
    People in financial services. Internal marketing. The importance of non-verbal communication. Multilevel marketing. Dress code. Processes in financial services. Processes according to complexity and diversity. Consumer demand management. Business process reengineering. Quality of financial processes. The importance of physical evidence in financial services. Actual trends – the use of sensory marketing, merchandising and new IT implementation.
    5.Marketing strategy in financial services and CRM
    Strategic marketing planning. Proactive approaches to customers, win-win relationships, values, partnership and CRM software. Benefits of CRM. Analytical and operational CRM. Difference between transactional marketing and relationship marketing (v-CRM). The processing of financial customers data. The benefits of database marketing for targeted marketing programs determination.
    6.Marketing research in financial services
    The basic concepts of this field are explained, as well as the process (preparatory and implementation phase), methods and techniques of marketing research. The particular attention is paid to significant research method - mystery shopping.

Literature
    required literature
  • KOTLER, P and ARMSTRONG. Principles of Marketing. Global Edition. 17th. Harlow: Pearson Education Limited, 2018. ISBN 978-1-292-22017-8. info
  • WIRTZ, J, CH and LOVELOCK. Essentials of Services Marketing. Global Edition. 3rd. Harlow: Pearson Education Limited., 2017. ISBN 978-1-292-09006-1. info
  • ENNEW, CH. and N. WAITE. Financial Services Marketing: An International Guide to Principles and Practice. 2nd ed. Oxon: Routledge, 2013. ISBN 978-0-415-52168-0. info
    recommended literature
  • SHAIKH, A and KARJALUOTO. Marketing and Mobile Financial Services: A Global Perspective on Digital Banking Consumer Behavior. New York: Routledge, 2019. ISBN 978-0-8153-8694-0. info
  • CAMP, L and THOMSON. No Small Change: Why Financial Services Needs a New Kind of Marketing. West Sussex: Willey & Sons Ltd., 2018. ISBN 978-1-119-37803-7. info
  • EHRLICH, E. and D. FANELLI. The Financial Services Marketing Handbook: Tactics and Techniques That Produce Results. New Jersey: John Wiley & Sons, 2012. ISBN 978-1-118-06571-6. info
Assessment methods (in Czech)
Attendance in seminars (min. 50 %), seminar project (40 %), final written exam (60 %).
Language of instruction
English
Further Comments
Study Materials
The course can also be completed outside the examination period.
The course is also listed under the following terms Summer 2017, Summer 2018, Summer 2019, Summer 2020, Summer 2021.
  • Enrolment Statistics (recent)
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