PEMNAMFS Marketing of Financial Services

School of Business Administration in Karvina
Summer 2026
Extent and Intensity
2/1/0. 6 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
Wed 11:25–13:00 AULA
  • Timetable of Seminar Groups:
PEMNAMFS/01: Wed 13:05–13:50 AULA, K. Matušínská
Prerequisites
FAKULTA(OPF) && TYP_STUDIA(N) && FORMA(P)
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 58 student(s).
Current registration and enrolment status: enrolled: 25/58, only registered: 4/58
fields of study / plans the course is directly associated with
Course objectives

The aim of the course is to provide students with a comprehensive understanding of marketing in financial services and to develop their ability to apply key marketing concepts and tools in the financial sector. The course focuses on the STP process, consumer behaviour, financial literacy, the extended 7P marketing mix, innovation and new financial product development, pricing and distribution strategies, offline and online marketing communication, internal marketing and employer branding. Emphasis is also placed on the human factor, service processes, marketing research methods such as mystery shopping and NPS, and the development of effective retention strategies aimed at building long-term customer relationships.

Learning outcomes
Students will understand the role of marketing in financial services and the STP process. They will be able to identify consumer behavior trends and expand their knowledge of financial literacy. They will learn to apply the marketing mix (7P) including contemporary concepts and understand the characteristics of financial services. They will gain an overview of innovations and the development of new financial products and their life cycle. They will be able to analyze pricing and distribution policies in financial institutions with an impact on the material environment. They will understand the principles of offline and online marketing communication in the financial sector. They will grasp the importance of internal marketing and employer branding. They will acquire knowledge about the significance of the human factor and processes in financial services. They will be able to apply marketing research methods, particularly mystery shopping and the Net Promoter Score (NPS).  Students will be able to critically assess and propose appropriate retention programs to build long-term customer relationships.
Syllabus
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
  • BAINES, P S; P WHITEHOUSE; ANTONETTI and ROSENGREN. Fundamentals of Marketing. 2nd. Oxford: Oxford University Press, 2021. ISBN 978-0-19-882925-6. 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
  • Kandampully, J., & Solnet, D. J. (2024). Service Management and Marketing Principles: Competing in the Service Economy. Routledge.
    recommended literature
  • 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
  • Chan, E. Y. (2024). Consumer Behavior in Practice. Strategic Insights for the Modern Marketer. Palgrave Macmillan.
  • 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
Teaching methods
Case study, buzz group method, group discussion and group problem-solving methods, brainstorming, and group argumentation.
Assessment methods

Student requirements: Attendance at seminars (minimum 50% participation).

Assessment methods: Seminar paper and its presentation (40% of the final grade), written examination (60% of the final grade).
Language of instruction
English
The course is also listed under the following terms Winter 2021, Summer 2022, summer 2024, Winter 2024, Summer 2025.
  • Enrolment Statistics (recent)
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