MKTG2003 Marketing for Financial Services

Later Year Course

Offered By	School of Mgt, Marketing & International Business
Academic Career	Undergraduate
Course Subject	Marketing
Offered in	Second Semester, 2011 and Second Semester, 2012
Unit Value	6 units
Course Description	The objective of this course is to introduce students to the marketing of financial services. All financial institutions, including consumer banks and corporate finance services, practice some form of marketing. Some firms market themselves better than others, as evidenced in the competitive value of their brands. This course will 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 operationalizes 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 a brand, how to migrate a brand when brands are acquired or merged, and how to co-brand financial services. 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.
Learning Outcomes	This course operationalizes 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, and how to efficiently manage multiple brands across multiple customer segments in order to meet corporate bottom-line goals, and how to develop a brand, migrate a brand when brands are acquired or merged, how to co-brand services.
Indicative Assessment	Assessment will consist of written assignments (50%), examination (35%), and tutorial participation and presentations (15%).
Areas of Interest	Commerce, Finance, and Marketing
Requisite Statement	STAT1008 Quantitative Research Methods or STAT1009 Business Statistics
Preliminary Reading	A text that provides a reasonably good conceptual basis for the financial services aspect of the course is, Marketing Financial Services, by Hooman Estelami, Dog Ear Publishing, ISBN:1598581899. For quantitative aspects of the course, the recommended texts are, Marketing Engineering: Computer-Assisted Marketing Analysis and Planning;, Revised Second Edition, Gary Lilien and Arvind Rangaswamy, Trafford Publishing, ISBN: 1-4120-2252-5 OR Principles of Marketing Engineering, Gary L. Lilien, Arvind Rangaswamy, and Arnaud De Bruyn, Trafford Publishing, ISBN: 1-4251-1314-1
Majors/Specialisations	Marketing and Finance
Other Information	For further information please refer to the course website.

The information published on the Study at ANU 2011 website applies to the 2011 academic year only. All information provided on this website replaces the information contained in the Study at ANU 2010 website.