1st Edition

The Routledge Companion to Financial Services Marketing

Edited By Tina Harrison, Hooman Estelami Copyright 2015
    608 Pages 44 B/W Illustrations
    by Routledge

    606 Pages 44 B/W Illustrations
    by Routledge

    Interest in Financial Services Marketing has grown hugely over the last few decades, particularly since the financial crisis, which scarred the industry and its relationship with customers. It reflects the importance of the financial services industry to the economies of every nation and the realisation that the consumption and marketing of financial services differs from that of tangible goods and indeed many other intangible services.

    This book is therefore a timely and much needed comprehensive compendium that reflects the development and maturation of the research domain, and pulls together, in a single volume, the current state of thinking and debate. The events associated with the financial crisis have highlighted that there is a need for banks and other financial institutions to understand how to rebuild trust and confidence, improve relationships and derive value from the marketing process.

    Edited by an international team of experts, this book will provide the latest thinking on how to manage such challenges and will be vital reading for students and lecturers in financial services marketing, policy makers and practitioners.

    Introduction: Financial services marketing in a post-crisis era (Tina Harrison and Hooman Estelami) Part 1: The Dynamic Financial Services Marketing Environment 1. Impact of Regulation on Competition in Commercial and Investment Banking (Anoop Rai, George J. Papaioannou and A. Sinan Cebenoyan) 2. Challenger Banks' - Are they for real? The impact of new entrants on financial services competition (Steve Worthington) Part 2: The Financial Services Consumer and Financial Decision-Making 3. Social and Psychological Influences on Financial Literacy (Bruce Huhmann) 4. Understanding How Consumers Make Financial Choices: A cross-disciplinary learning experience (Hazel Bateman, Jordan Louviere and Susan Thorp) 5. Household Decisions on Financial Services: The role of the wife (Salvador Ruiz de Maya and Eva Tomaseti-Solano) 6. What Drives the Purchase Decision in Pensions and Long-term Investment Products in the UK? (Orla Gough and Roberta Adami) 7. Financial and Non-financial Attributes of Pension Fund Structures: A customer perspective from the Netherlands (Nikos Kalogeras, Arvid O. I. Hoffmann and Dominik Mahr) 8. Mutual Fund Investors' Knowledge Calibration and Behavioral Biases (Sanjay Kumar Mishra and Manoj Kumar) Part 3: Managing Financial Services Relationships and the Customer Experience 9. Financial Services Customer Relationships: Meanings, motivations and manifestations (Annie Pei-I Yu and Tina Harrison) 10. Trust and Trustworthiness in Retail Financial Services: An analytical framework and empirical evidence (Christine Ennew and Harjit Singh Sekhon) 11. Should I Stay or Should I Go? The case of loyalty in the UK retail banking industry (Dahlia El-Manstrly) 12. Financial Services Quality: People, processes and performance (Kent Eriksson) Part 4: Developing and Managing the Financial Services Offering 13. Financial Services and Innovation: A customer-centric approach (Stefan Michel) 14. A Brave New World: Branding in financial services (Jillian Dawes Farquhar and Julie Robson) 15. The Many Deaths of a Financial Services Offering (David R. Harness and Tina Harness) Part 5: Financial Services Pricing Strategies 16. Consumer Perceptions of Financial Services Prices (Hooman Estelami) 17. Price Management in Financial Services (George J. Avlonitis and Kostis Indounas) 18. Price Bundling: A smart pricing strategy for banking (Wei Ke, Georg Wuebker and Jens Baumgarten) Part 6: Communicating and Promoting Financial Services 19. The Neglected Art (and science) of Financial Services Advertising (Karen Robson and Leyland Pitt) 20. An AMO Model for Communicating and Promoting Financial Services (Alex Wang) Part 7: Distribution and Delivery of Financial Services 21. The Role of Technology in Financial Services Distribution and Delivery (Fernando Jaramillo) 22. Mobile Banking, a Business Models Approach (Anthony Gandy) 23. E-Servicescapes in Online Banking: Towards an integrated conceptual model of the stimuli contributing to the online banking experience (Kathryn Waite and Jennifer Rowley) Part 8: Corporate Financial Services Marketing 24. Relationships and the Business-to-Business Marketing of Financial Services (Peter Moles) 25. Competition and Cooperation in Partnership Arrangements in Financial Services (Sandeep Singh and Joon Yong Seo) Part 9: Alternative Banking Models 26. Islamic Banking (Hussain Rammal) 27. Islamic Perspectives on Risk and Insurance Marketing (Jonathan A. J. Wilson and Zuriah Abdul Rahman) 28. Microfinance - Supporting Micro and Small Enterprises (Atul Mishra, Paul Iqwe, Jonathan Lean and Phil Megicks) Part 10: Marketing Malpractice and Financial Fiascos 29. The Scale and Scope of Financial Mis-selling (John K. Ashton) 30. A Framework for Understanding and Restoring Trust in Universal Banks (Robert F. Hurley, Xue Gong and Adeela Waqar) 31. Nine 'Tricks' in Financial Services Marketing (Vesa Puttonen) Part 11: Moral and Ethical Issues in Financial Marketing 32. Corporate Social Responsibility (CSR) in Banking: What we know, what we don't know, and what we should know (Lynette McDonald) 33. Marketing Challenges and Strategies for Socially Responsible Investment Initiatives (Jonas Nilsson) 34. The Ethics of the Selling Process in Financial Services (Jay Mulki) 35. Reaching out to Socially Disadvantaged Groups: Financial services and the poor (Paul Sergius Koku) 36. Financial Exclusion (James Devlin)


    Tina Harrison is Senior Lecturer at the University of Edinburgh, UK and editor of the Journal of Financial Services Marketing

    Hooman Estelami is Professor of Marketing at Fordham University, USA


    'Dramatic changes in technology, regulations and consumer behavior are transforming the financial services industry around the world. This book provides an excellent and comprehensive perspective from several experts on how marketing practices need to change in this dynamic industry.' - Sunil Gupta, Professor,  Harvard University, USA

    'This book makes a most valuable contribution to research and professionals operating in the financial services industry. In particular, it focusses on the unique nature of the industry, and the diverse range of traditional and emergent issues it is currently facing. In this respect, the book is highly topical and fully reflects the dynamic nature of these issues and the associated challenges.' - Barry Howcroft, Professor, Loughborough University, UK

    'While most financial institutions focus their energy on adhering to the new regulatory environment, this book brings the attention of practitioners and academics back to its origins, namely how to create outstanding customer value in a fast changing environment by providing services for financial security, stability and flexibility. It offers a comprehensive perspective on how to regain trustful relationships with customers and stay competitive against the upcoming new players in the market.' - Peter Maas, Professor, University of St.Gallen, Switzerland

    'This essential guide to financial services marketing provides a comprehensive, expert and critical picture of a vital area of economic life. Researchers and practitioners alike will find it indispensable.' - Karen Rowlingson, Professor, University of Birmingham, UK