Marketing in Financial Services

Marketing in Financial Services Name: Institution: Marketing in Financial Services Executive Summary Technological advancement, through the invention of information technology, has greatly improved banking services nowadays. This improvement has come in existence due to pressure and demands from customers towards realization of better and quality service delivery. Hence, most organizations, through their respective managements, have come up with various approaches in ensuring quality services to customers. One of the approaches contained in this document towards determining quality of services by most organization is the SERVQUAL technique. SERVQUAL method is considered as the best method because it provides accurate measures that make it easy for organizations to know and improve on their service quality. It is also important to note that through the use of SERVQUAL as a method of quality service determination, some of the factors such as reliability should be considered as they form strong basis towards better service quality. On the other hand, despite various importance of SERVQUAL method approach, the approach also has some demerits mainly because it is based on the information provided by organization client. Therefore, when false information is provided, inappropriate decision may be made, resulting to poor relation and production. Additionally, organizations should make use of technological advancement in improving their productions and service quality. For instance, they should ensure they use latest machinery and transaction procedures that would facilitate faster and accurate customers banking transaction. This will make organizations to provide better and quality services to their clients, which helps in attracting and maintain customers. Introduction Marketing, which is the process of conveying relevant information concerning products and services that are produced by an organization, is an important process as it creates products and services awareness to organizational customers. In order for product information to be effectively passed to clients, organization must ensure proper external communication, which allows them to provide necessary information to customers. Various methods of advertisement approaches are available for organizations to use in conveying product awareness to their clients. Some of the commonly used include media such as advertising through televisions and radios, through internet services like developing of organization that customers can access organizational information and having customers` care centers where customers can seek any information about products and services produce by an organization. Similarly, organizations must ensure they have in place proper measures of monitoring their performance towards satisfaction of their client demands. Therefore, this paper provides information based on e-SERVQUAL techniques by d...