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Research School of Management · ANU College of Business and Economics
The objective of this course is to introduce students to the marketing of financial services. All financial institutions, including retail or consumer banks, business and institutional lenders, retirement saving and superannuation fund managers, financial advisers, consumer and business insurers and other consumer and corporate finance services, practice some form of marketing. Marketing is the process of creating, communicating, delivering and sustaining value exchanges with customers or critical stakeholders, and capturing value for the firm. Some firms market themselves better than others, as evidenced in their ability to capture differential value in their brands. This course will highlight the contribution of marketing to the success of the firm and its business model. It demonstrate to students the benefits of using an analytical approach to marketing in the financial services industry, and will show students how to undertake that analysis. An analytical approach helps firms to (1) identify marketing options, (2) calibrate the opportunity costs associated with each option, and (3) choose the best option to achieve the firm's business goals. This course operationalises several marketing concepts such as segmentation, targeting, and positioning. By the end of this course, students will know how to segment customers, what kind of data are required to do so, what are the different ways to segment, which customers to target, how to determine the best positioning of your brand in customers' minds, how to develop new products/services that add value to consumers and firms, how to price financial products, how to efficiently manage multiple brands across multiple segments in order to meet corporate bottom-line goals, how to develop and effectively manage a brand, how to plan and manage distribution and communication channels (including digital channels) and how to align marketing to the organisation’s purpose and social license to operate. The pedagogic philosophy in this course is that of learning by doing. Therefore, students will go beyond learning conceptual marketing material to learning how to do marketing, using real and simulated data from the financial services industry.
Typical assessments may include, but is not restricted to: in-class exercises, written and oral assignments, quizzes, examinations, group project, oral presentation and defence of project, and other assessment deemed appropriate to show attainment of the learning outcomes set for the course . Further details will be made available via the Class
Learning outcomes 1, 2, 3, 4, 5, 6
Students taking this course are expected to commit 130 hours to completing the work. For semester length offerings this will typically include 3 hours per week in class and at least 7 hours a week on average (excluding non-teaching weeks) on course reading, research, writing and assessment work.
Information about the prescribed textbook (if any) will be made available via the Class Summary.