Marketing of financial services

Topics: Marketing, Psychology, Advertising Pages: 5 (1063 words) Published: April 17, 2014
Introduction
Financial services are concerned with individuals, organizations and their finances. Manulife, as Insurance services, are inseparability, it cannot be separated from their provider. It is defined as a contract that provides the policyholder with pre-defined benefits in cases of specified losses.

Content
Advertising is a form of communication intended to convince an audience. Almost every one grows up in the world which is flooded with the mass media e.g. television, advertising, films, videos, billboards, magazines, movies, music, newspapers, and internet. At now, there are two advertisements below by Manulife to promote their product. 1. Television

Manulife's television video
Of all marketing weapons, Manulife’s advertising is renowned for its long lasting impact on viewer’s mind, as its exposure is much broader. Advertising is a subset of promotion mix which is one of the 4P’s in the marketing mix i.e. product, price, place and promotion. As a promotional strategy, advertising serve as a major tool in creating product awareness in the mind of a potential consumer to take eventual purchase decision. Advertising, sales promotion and public relations are mass-communication tools available to marketers. Advertising through all mediums influence audiences, but television is one of the strongest medium of advertising and due to its mass reach; it can influence not only the individual’s attitude, behavior, life style, exposure and in the long run, even the culture of the country.

2. To show the extraordinary agent on newspaper

A company cannot make dream to be a well known brand until they invests in their promotional activities, for which consumer market have been dominating through advertisements. As the primary mission of advertiser is to reach prospective customers and influence their awareness, attitudes and buying behavior. They spend a lot of money to keep individual’s interest in their products. They need to understand what makes potential customers behave the way they would like. It also appears that advertising may have the potential to contribute to brand choice among consumers. The major aim of advertising is to impact on buying behavior; however, this impact about brand is changed or strengthened frequently in people’s memories. Memories about the brand consist of those associations that are related to brand name in consumer mind. These brand cognition influence consideration, evaluation, and finally purchases. The principal aim of consumer behavior analysis is to explain why consumers act in particular ways under certain circumstances. It tries to determine the factors that influence consumer behavior, especially the economic, social and psychological aspects. When people choose advertising information and characters as their role models, they may not only identify with them but also intend to have a financial planning for themselves by the extraordinary insurance agent. Advertising and consumer behaviour

Advertiser’s primary objective is to reach Prospective customers and influence their awareness, attitudes and buying behaviour. They spend a lot of money to keep individuals (markets) Interested in their products. To succeed, they need to understand what makes potential customers behave the way they do. The advertisers Goals is to get enough relevant market data to Develop accurate profiles of buyers-to-find the common group (and symbols) for communications This involves the study of consumers behaviour: The mental and emotional processes and the Physical activities of people who purchase and Use goods and services to satisfy particular needs And wants. Proctor et al. (1982) noted that the principal aim of consumer behaviour analysis is to explain why consumers act in particular ways under certain circumstances. It tries to determine the factors that influence consumer behaviour, especially the economic, social and psychological aspects that can indicate the most favored marketing...

References: Manulife website:
http://www.manulife.com.hk
Newspaper source:
https://www.facebook.com/pages/SV-GROUP/233877176644427
Rocket Fuel’s survey:
http://rocketfuel.com/newsroom/blog/rocket-fuels-insurance-brand-awareness-study
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