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  • Service Marketing Internationally

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    Md Akram
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    International marketing of financial services has great scope and opportunities. Some benefits include foreign currency gains for the home country and sharing of new technologies. It can also help strengthen political relations and cooperation between countries. However, there are also barriers like differences in culture, currency, language, customs, and traditions. Financial services include investment advising, insurance, and banking. Challenges of marketing these services internationally include quality improvement, testing new services, maintaining a consistent image, sustaining employee commitment and motivation, adaptation versus standardization, setting prices, and marketing coordination. Companies need to evaluate how well their marketing mix aligns with their overall strategy and vision for international markets. They should identify weaknesses and strengths in terms of

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    International marketing of financial services has great scope and opportunities. Some benefits include foreign currency gains for the home country and sharing of new technologies. It can also help strengthen political relations and cooperation between countries. However, there are also barriers like differences in culture, currency, language, customs, and traditions. Financial services include investment advising, insurance, and banking. Challenges of marketing these services internationally include quality improvement, testing new services, maintaining a consistent image, sustaining employee commitment and motivation, adaptation versus standardization, setting prices, and marketing coordination. Companies need to evaluate how well their marketing mix aligns with their overall strategy and vision for international markets. They should identify weaknesses and strengths in terms of

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    9 views3 pages

    Service Marketing Internationally

    Uploaded by

    Md Akram
    International marketing of financial services has great scope and opportunities. Some benefits include foreign currency gains for the home country and sharing of new technologies. It can also help strengthen political relations and cooperation between countries. However, there are also barriers like differences in culture, currency, language, customs, and traditions. Financial services include investment advising, insurance, and banking. Challenges of marketing these services internationally include quality improvement, testing new services, maintaining a consistent image, sustaining employee commitment and motivation, adaptation versus standardization, setting prices, and marketing coordination. Companies need to evaluate how well their marketing mix aligns with their overall strategy and vision for international markets. They should identify weaknesses and strengths in terms of

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Download as DOC, PDF, TXT or read online from Scribd
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    International marketing of financial services Scope of international marketing of financial services has endless scope and opportunity.

    Benefits foreign currency is important with the point of view of home country Technology sharing in international marketing it allow to use and share latest technology Relation of the politics- international marketing guide to development in political relation among the countries and even grew level of co-operation in result Barriers- numbers of barriers are there in international marketing like differences in culture, currency, language, customs and traditions.

    Theses are intangible performance, processes, and deeds of service. Usually formed and consumed at the same time Financial Services Investment advising, insurance and banking etc And the challenges at international level are as follows for financial services Quality improving and defining New service testing and communication Image maintaining consistent and communicating

    Commitment of employee sustaining and motivating them


    Adaptation versus standardization Setting prices Marketing coordination

    Efforts of human resources and operation

    Services versus goods perish ability intangibility Simultaneous consumption and production heterogeneity Pricing is difficult Intangibility impact of services It can not be stocked It can not be patented It can not be voluntarily communicated or displayed

    Heterogeneity implication Satisfaction of the customer and delivery of the service depends on the staff performance The quality of service is depend on several unmanageable factor

    There is no exact information that the delivered service matched what was promoted and planned Consumption and production implication Participation of the customer in and have an effect on the transaction Influence of the customer to each other Outcome of the service affected by the employee It might be essential of decentralization Production in mass is hard

    Perish ability implication

    Hard to harmonize demand an supply with service Once it is sold can not be returned

    Services Marketing Mix for financial services 7 Ps for Services Strategic appraisal Overall Companies need to know how marketing mix well fixed with the strategy and vision in international marketing. Need to find where is the weakness and strength in terms of 7ps and implementation of service specific, needed of improvement

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