Marketing mix of financial services from the customers perspective

Veronika  Braciníková; Kateřina  Matušínská

doi:10.23762/FSO_VOL5NO4_17_3

Published : 2017-12-14

Vol. 5 No. 4 (2017)

Marketing mix of financial services from the customers perspective

Veronika Braciníková

Kateřina Matušínská

DOI: https://doi.org/10.23762/FSO_VOL5NO4_17_3

Abstract

The aim of this paper is to show tactical marketing in the 5C concept, services perception and consumer behaviour in the financial products market. Primary marketing research was based on the number of 412 respondents. The consumers were questioned about their behaviour within the topic of customer value, costs to the customer, convenience, communication and customer approach. When deciding about the selection of financial institutions and financial products as fundamental criteria are said to be costs to the customer – pricing policy, convenience – physical availability of branches and their physical evidence. Further research outputs indicate that customers tend rather to savings products and life insurances than to credit products. The costs incurred for the purchase of financial products are perceived as adequate. Direct distribution channels still play and will play important role in financial services. It seems effective to use BTL communication than massive advertising. Demands on financial institutions front-office employees have increased when regarding a quick solution of customers´ demands and acceptable soft skills. Keywords: marketing, “5C” marketing mix, financial services, primary marketing research.

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marketing, “5C” marketing mix, financial services, primary marketing research

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Braciníková, V. ., & Matušínská , K. . (2017). Marketing mix of financial services from the customers perspective. Forum Scientiae Oeconomia, 5(4), 36–48. https://doi.org/10.23762/FSO_VOL5NO4_17_3

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Veronika Braciníková

bracinikova@opf.slu.cz

Affiliation:

Silesian University in Opava, School of Business Administration in Karvina, Czech Republic Czechia

Bio Statement (e.g., department and rank)

Veronika Braciníková is the ph.D. student of Business economics and Management at the silesian university in opava, school of Business administration in karvina since 2015. During her postgradual study she has lectured some subjects from the marketing area, such as Marketing communication, Marketing of services, Marketing research and Marketing of financial services. she is author of several professional papers published in conference proceedings and co-author of textbook.

Kateřina Matušínská

matusinska@opf.slu.cz

Affiliation:

Silesian University in Opava, School of Business Administration in Karvina, Czech Republic Czechia

Bio Statement (e.g., department and rank)

Kateřina Matušínská obtained her ph.D. degree in Business economics and Management in 2010. since then she has lectured in the field of marketing, marketing communication, marketing of services, marketing of financial services. she is the author or co-author of monographs, textbooks and numerous professional papers published in domestic and foreign scientific journals or conference proceedings. currently she teaches at the silesian university in opava, school of Business administration
in karvina.