Marketing of financial services June 2024

Description

Marketing of Financial Services

June 2024 Examination

 

 

Q1. How various Commercial Banks play pivotal role in Marketing of Financial Services? Kindly explain the paradigm  (10 Marks)

Ans 1.

Introduction

Commercial banks are fundamental players in the marketing of financial services, acting as bridges between economic resources and market demands. These institutions deploy a myriad of strategies to attract and retain customers, enhancing both their service delivery and competitive stance in a dynamic industry. The pivotal role of commercial banks in the marketing of financial services is increasingly significant due to the digital transformation and globalization affecting the financial sector. This discussion delves into the various marketing strategies used by commercial banks, from personalized banking and technological innovation to strategic partnerships

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Q2. In what sense LIFE INSURANCE can have the Instrumental place in overall Financial Services? If yes, explain key types of Life Insurance      (10 Marks)

Ans 2.

Introduction

Life insurance plays a pivotal role within the broader landscape of financial services, serving as both a fundamental protective mechanism and a financial planning tool. It is instrumental in securing the financial future of individuals and their families by providing monetary benefits in the event of unforeseen circumstances. The integration of life insurance into financial services is not merely about mitigating risks but also about enhancing financial stability and planning for long-

 

Q3a. How  Indian  Govt.  contributing  their  Community  Welfare  role  in  Financial  Services Marketing at Post Office & Other Places? Elaborate Paradigm.  (5 Marks)

Ans 3a.

Introduction

The Indian government plays a significant role in enhancing community welfare through the marketing of financial services at post offices and other public facilities. This approach not only democratizes access to financial services but also integrates socio-economic development objectives into its strategy, ensuring that all segments of society benefit from these services.

Concept and Application

The paradigm of community welfare in financial services marketing by the Indian government is centered on

 

Q3b. In case of Banks or Insurance Company or any other FI rendering of Financial Services what can be observed as most Distinct Characteristics of Financial Services? Elaborate any 4 to 5 Distinct Financial Services.   (5 Marks)

Ans 3b.

Introduction

Financial services rendered by banks, insurance companies, and other financial institutions (FIs) possess unique characteristics that distinguish them from other service sectors. These attributes not only define the nature of the services provided but also influence how they are delivered and perceived by consumers. Understanding these characteristics is essential for both