Marketing of financial services JUNE 2025

Description

Marketing of Financial Services

Jun 2025 Examination

 

 

Q1. In the dynamic landscape of banking and financial institutions, the delivery of financial services encompasses multifaceted attributes that define their operational framework. Given the regulatory, risk management, and client- centric considerations, how do banks or financial entities structure and differentiate their service offerings? Discuss the intrinsic characteristics that govern financial services, ensuring alignment with market demands and institutional objectives? (10 Marks)

Ans 1.

Introduction

The delivery of financial services has evolved dramatically in recent years due to digital innovation, changing customer expectations, and evolving regulatory frameworks. Banks and financial institutions are no longer just custodians of money; they now serve as financial advisors, risk managers, and enablers of personal and business growth. To remain competitive and compliant, they must structure their services around key attributes like trust, transparency, security, and personalization. Financial services also carry an intangible nature that demands high levels of

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Q2. How can a bank classify its insurance services to cater to different demographic segments, including High Net-Worth Individuals (HNIs), middle-income groups, and various age brackets ranging from youth to senior citizens? Explain how commercial banks segment and structure their insurance plans to meet the diverse needs of their clients ? (10 Marks)

Ans 2.

Introduction

In today’s competitive financial ecosystem, banks act not only as traditional lenders but also as comprehensive financial service providers. One key component of their portfolio is the distribution of insurance services through bancassurance models. With India’s diverse demographic base and varying financial goals, a one-size-fits-all approach to insurance does not suffice. Commercial banks must classify and customize their insurance offerings according to factors such as income levels, lifestyle choices, age groups, and risk preferences. From High Net-Worth Individuals (HNIs) requiring wealth protection to middle-income families looking for term

 

Q3A. When a research agency aims to analyze the financial services marketing landscape within a specific geographical region, certain foundational factors play a crucial role. What key elements should be evaluated to gain a comprehensive understanding of the market dynamics, consumer behavior, and regulatory environment? Discuss the fundamental aspects that shape financial services marketing in a given location? (5 Marks)

Ans 3a.

Introduction

Analyzing the financial services marketing landscape within a specific geographical region requires a comprehensive evaluation of various interrelated elements that influence market outcomes. These include demographic trends, regional economic conditions, consumer behavior, digital adoption, and the regulatory ecosystem. Each of these factors shapes how financial products are

 

Q3B. As a seasoned professional approaches the transition from an active career to retirement, the final five years (ages 55 to 60) become critical for financial and lifestyle planning. What are the key factors that should be strategically assessed during this phase to ensure a stable and well-prepared retirement? Discuss the essential considerations that shape this crucial period ?   (5 Marks)

Ans 3b.

Introduction

The final five years before retirement are pivotal for ensuring a smooth transition from an active professional life to a financially secure and fulfilling post-retirement phase. Individuals aged 55 to 60 must reassess their financial standing, health needs, lifestyle goals, and risk tolerance. This period demands meticulous planning to manage income continuity, asset preservation, and expenses after regular employment ends. By strategically focusing on key retirement readiness elements, professionals can protect their long-term well-being and maintain the quality of life they