Marketing of Financial Services
DP10
Marketing of Financial Services
16 APRIL 2004
1. 2. 3. 4. 5. 6.
Time allowed Total number of questions Number of questions to be answered
: Three (3) hours : Five (5) questions : Four (4) questions [25 marks each]
Begin each answer to a new question on a fresh page. Answer all questions in English. A blank page is provided at the end of the question paper for rough work.
ANSWER FOUR (4) QUESTIONS ONLY
1. (a) (b) (c) Explain the meaning of “marketing” in relation to the banking and financial services industry. [5] Explain the elements of marketing mix in relation to the banking and financial services industry. [8] Explain the differences between marketing and selling. [12] (Total:25 marks) [10]
2.
(a) (b) (c)
Explain Abraham Maslow’s Hierarchy of Needs theory.
Explain how you can apply Abraham Maslow’s Hierarchy of Needs to any two products in the banking environment. [8] Explain how financial institutions can apply Abraham Maslow’s Hierarchy of Needs in marketing their products to become the market leader. [7] (Total:25 marks) “Foreign banks are mostly ahead of the domestic banks in formulating marketing strategies.” Do you agree or disagree with the above opinion? Explain your answer. [13]
3.
(a)
(b)
“Despite having fewer branches, foreign banks tend to have a good share of the banking business in most of their locations.” Do you agree or disagree with the above opinion? Explain your answer. [12] (Total:25 marks) [12] [13] (Total:25 marks) [15]
4.
(a) (b)
What makes financial services different from physical goods? Explain Philip Kotler’s Services Marketing Triangle.
5.
(a) (b)
Explain the different types of distribution channels available to financial institutions.
What are the advantages and disadvantages of distributing financial services through a branch network? [10] (Total:25 marks)
2 of 7
DBFS April 2004 – DP10
Institut Bank-Bank Malaysia
OUTLINE ANSWERS
• • Question 1
Marketing of Financial Services
16 APRIL 2004
1. 2. 3. 4. 5. 6.
Time allowed Total number of questions Number of questions to be answered
: Three (3) hours : Five (5) questions : Four (4) questions [25 marks each]
Begin each answer to a new question on a fresh page. Answer all questions in English. A blank page is provided at the end of the question paper for rough work.
ANSWER FOUR (4) QUESTIONS ONLY
1. (a) (b) (c) Explain the meaning of “marketing” in relation to the banking and financial services industry. [5] Explain the elements of marketing mix in relation to the banking and financial services industry. [8] Explain the differences between marketing and selling. [12] (Total:25 marks) [10]
2.
(a) (b) (c)
Explain Abraham Maslow’s Hierarchy of Needs theory.
Explain how you can apply Abraham Maslow’s Hierarchy of Needs to any two products in the banking environment. [8] Explain how financial institutions can apply Abraham Maslow’s Hierarchy of Needs in marketing their products to become the market leader. [7] (Total:25 marks) “Foreign banks are mostly ahead of the domestic banks in formulating marketing strategies.” Do you agree or disagree with the above opinion? Explain your answer. [13]
3.
(a)
(b)
“Despite having fewer branches, foreign banks tend to have a good share of the banking business in most of their locations.” Do you agree or disagree with the above opinion? Explain your answer. [12] (Total:25 marks) [12] [13] (Total:25 marks) [15]
4.
(a) (b)
What makes financial services different from physical goods? Explain Philip Kotler’s Services Marketing Triangle.
5.
(a) (b)
Explain the different types of distribution channels available to financial institutions.
What are the advantages and disadvantages of distributing financial services through a branch network? [10] (Total:25 marks)
2 of 7
DBFS April 2004 – DP10
Institut Bank-Bank Malaysia
OUTLINE ANSWERS
• • Question 1