Part2Environment课件.ppt

MarketingMix,Consumer,Cost,Communication,Convenience,TheFourCs,TheFourPs,BasicTheory:,Review,MarketingMix,Consumer,Cost,Communication,Convenience,TheFourCs,TheFourPs,BasicTheory:,PRICE,Thecustomersperceptionofvalueisanimportantdeterminantofthepricecharged.Customersdrawtheirownmentalpictureofwhataproductisworth.Aproductismorethanaphysicalitem,italsohaspsychologicalconnotationsforthecustomer.Priceisalsoanindicatorofquality,thedangerofusinglowpriceasamarketingtoolisthatthecustomermayfeelthatqualityisbeingcompromised.,PROMOTION,Thepromotionsaspectofthemarketingmixcoversalltypesofmarketingcommunications.Themethodsincludeadvertising,merchandising,directmail,telemarketing,exhibitions,seminars,demonstrations,etc.,PLACE,Placeinthemarketingmix,isnotjustaboutthephysicallocationordistributionpointsforproducts.Itencompassesthemanagementofarangeofprocessesinvolvedinbringingproductstotheendconsumer.,ProductionConcept,ProductConcept,SellingConcept,MarketingConcept,Consumerspreferproductsthatarewidelyavailableandinexpensive,Consumersfavorproductsthatofferthemostquality,performance,orinnovativefeatures,Consumerswillbuyproductsonlyifthecompanyaggressivelypromotes/sellstheseproducts,Focusesonneeds/wantsoftargetmarketsasymmetricinformation(consumersarelesswellinformedthansuppliers);agencycosts(asymmetricinformationcanbeusedtoexploittheconsumer);potentialprincipal-agentproblemsarisingfromissuesrelatedtoconflictsofinterest;imprecisedefinitionsofproductsandcontracts;inabilityofretailconsumerstoassesssafetyandsoundnessoffirms;consumerunder-investmentininformationandresultantfree-riderproblems-consumersassumethatothershaveinvestigatedthesafetyandintegrityofsuppliers;duetothetechnicalitiesofsomeproducts,consumersarenotallequallyequippedtoassessqualityetc.(Llewellyn,1999).,1.Political(Regulatory)Environment(4),Rationaleforfinancialregulations:Itisdifficultforconsumerstoassesstherisksandreturnsoftransactionstheyundertake.Theproblemofasymmetricinformationisespeciallytrueforinvestorsoflong-termcontractswheretheexpectedreturnsmaynotappearformanyyears.Withoutregulationtoprovidesomeassurancetoconsumersaboutthetermsonwhichcontractsareoffered,savingandinvestmentwouldbediscouragedwithdamagingeconomicconsequences.Moreover,healthycompetitionwillbeenhancedbyempoweringconsumersthrougheducationanddisclosureofinformationonchargesandotherkeyfeaturesoffinancialproducts.,RegulatoryAgenciesinChina:,CBRC:ChinaBankingRegulatoryCommissionCIRC:ChinaInsuranceRegulatoryCommissionCSRC:ChinaSecuritiesRegulatoryCommission,1.PoliticalEnvironment(5),PrincipalRegulatoryAgenciesoftheU.S.FinancialSystem,2.EconomicEnvironment(1),Changestotheeconomicenvironmenthaveanimpactonthegeneraldemandforfinancialservices.,2.EconomicEnvironment(2),EconomicDevelopment,ChangesinIncome,ChangesinConsumerSpendingPatterns,KeyEconomicConcernsforMarketers,3.SocialEnvironment(1),Demographicenvironmentarealsolikelytoinfluencethewayinwhichfinancialservicesmarketersoperateinthenearfuture.Demographic:Thestudyofhumanpopulationsintermsofsize,density,location,age,gender,race,occupation,andotherstatistics.,(1)DemographicEnvironment,3.SocialEnvironment(2),GrowingPopulation,(1)DemographicEnvironment:KeyTrendsinChina,ChangingAgeStructurePopulationisgettingolder,GeographicShifts:Movingtothecities,IncreasedEducationIncreasedcollegeattendanceandwhite-collarworkers,ChangingFamilyStructureMarryinglater,fewerchildren,workingwomen,3.SocialEnvironment(3),Iscomposedofinstitutionsandotherforcesthataffectasocietysbasicvalues,perceptions,preferences,andbehaviors.Culturecaninfluencedecisionmaking.,(2)CulturalEnvironment,3.SocialEnvironment(8),Basedoncarefulstudyofculturaldifferences,BankofAmericahasdevelopedtargetedadvertisingmessagesfordifferentculturalsubgroups,hereAsiansandHispanics.,Diversity-BasedAdvertising,4.Technologicalenvironment(1),KeyTechnologicalTrendsThetechnologicalenvironmentischaracterizedbyrapidchange.Newtechnologiescreatenewopportunitiesandmarketsbutmakeoldtechnologiesobsolete.,4.Technologicalenvironment(2),Roleoftechnologyinfinancialservicessector:1.Traditionally:financialinstitutionsusedpaper-basedsystemsforrecordingcustomeraccountdetails.Recently:Becomefullyautomated.Theadventofcomputertechnologyprovidedinstitutionswiththeabilitytoautomatemanyoftheback-officetasksandessentiallybecomemoreefficient.Thismeantthatmoretimecouldbedevotedtosellingproductsinthebranchesratherthanback-officeprocessingofaccountsandtransactions.Notonlydidcomputerizationallowcoststobereduced,butitalsoreducedthedegreeofhumanerrorinherentinthepaper-basedapproach.Itmadeitpossibleforfinancialinstitutionstooffermoreproductsandtoreachmorecustomers.Customerswererewardedwithanincreaseinthespeedoftransactionsandanincreaseinthequalityandconsistencyofadministration.Thisledtoanincreaseinbothefficiencyandeffectiveness.,4.Technologicalenvironment(3),Roleoftechnologyinfinancialservicessector:2.Aswellasprovidingautomationofservices,technologyhasalsoenabledfinancialinstitutionstowidentheiraccesstocustomers,providinggreaterconvenience.i.e.Automatictellermachines(ATMs)werefirstintroducedinanattempttoincreasetherestrictedbranchopeningtimesandenablecustomerstohaveaccesstocashwithdrawalsoutofbankinghours.ItsoonbecameapparentthatATMscouldalsobeusedforawidernumberofservices,suchascashwithdrawals,balanceenquiriesandstatements,thusreducingthedemandonbranchstafftimeandreducingqueueswithinthebranches.ATMspavedthewayforotherformsofremoteaccesssuchastelephonebankingandPCbanking.Indeed,themarketforPCbankingandinternetbankinghasincreasedsignificantlyinthelastfewyears.,4.Technologicalenvironment(4),Roleoftechnologyinfinancialservicessector:3.Aswellasprovidingincreasedaccesstofinancialservices,technologyhasalsocontributedtoincreasingcustomerservice.Customersnowhavearangeofmethodsbywhichtheycanaccesstheirfinancialservicesproviderandconducttransactions.Whilesomecustomersprefertomakeuseofonemethodpredominantly,theymayalsochoosetomakeuseofotherdistributionmethodsforeithercomplexorone-offtransactions.,4.Technologicalenvironment(5),Roleoftechnologyinfinancialservicessector:4.Technologyhasalsoenabledmarketingeffortstobeusedtogreatereffectandefficiencythroughdatabasemanagement.Traditionally,financialinstitutionsarrangedtheiradministrationsystemsaroundproductsandaccounts,notcustomers.Furthermore,inmanycases,customerdetailswerenotrecordedinthesameformatacrossdifferentproducts.Thisemphasisesthetraditionalfocusonproductsandnotcustomers.However,asinstitutionsbecamemorefocusedoncustomers,theyfoundthattheirsystemswerenotadequateenoughtoallowthemtobuildupapictureofthecustomerandthecustomersconsumptionoffinancialservices.Thus,duringtheearly1980smanyfinancialinstitutionswentthroughtheprocessofre-organizingcustomerinformationintodatabasesorcustomerinformationfiles(CIFs).,4.Technologicalenvironment(6),Roleoftechnologyinfinancialservicessector:Therationalebehindaproperlyconstructedcustomerdatabaseisthattheinstitutioncanidentifyindividualcustomers(orgroupsofcustomers)anddescribewhatproductstheybuyandhowtheyusethem.Institutionsare,therefore,inapositiontotrackpatternsofbehaviourandcanidentifyopportunitiestotargetproductstospecificindividuals.,EvolutionoftheFinancialServicesSector,MergingandAcquisitionThefinancialservicessector,evolvedfromtheconvergenceofseveralpreviouslydistinctandveryseparatesectors.Mostnotableamongstthesearethebanking,insuranceandbuildingsocietysectors.NewentrantsDeregulationofthefinancialservicesindustrynotonlyopenedupcompetitionbetweenthedifferentsectorsoftheindustrybutalsoprovidedtheopportunityforanumberofnon-financialinstitutionstoenterthefinancialarea.Inthelastfewyearsanumberofcompanieshavestartedtoofferfinancialservices.,Strategicresponsestothechallengesofthefinancialservicesenvironment(1),Overthelastfewdecades,thefinancialservicessectorhasundergoneunprecedentedchangeswhichhavealteredboththestructureofthesectorandthenatureofcompetitionwithinit.Itisnotsurprisingthat,withinarapidlychangingenvironment,financialinstitutionshavebeenforcedtochangethewayinwhichtheyrespondtothemarketplaceinordertoremaincompetitive:Becominglessfocusedonproductsandmorefocusedoncustomersandrelationships;Lessfocusedontheshorttermandmorefocusedonthelongerterm.,Strategicresponsestothechallengesofthefinancialservicesenvironment(2),1.Focusonretainingcustomers=Recently,financialinstitutionshavestartedtofocusmoreoftheirattentionontheirexistingcustomers.Thecostsofretainingcustomershavebeenfoundtobemorefavorablethanthecostsofacquiringcustomers.Italsobecameapparentthattherangeoffinancialservicesofferedbythemajorityoflargefinancialinstitutionsfittedthebroadneedsofcustomersovertheirlifetimesandshould,therefore,betargetedatthem.,Strategicresponsestothechallengesofthefinancialservicesenvironment(3),2.TrendstowardsgeneralizationPriortoderegulation:banks,buildingsocietiesandinsurancecompaniesoperatedindistinctandspecialistproductareasandinclearlydefinedcompetitiveareas.However,sincethecompetitiveboundarieshavecomedownandthelinesofdemarcationhavebeeneroded,allfinancialinstitutionshavebeguntolookalike.Indeed,financialinstitutionshavebeenforcedtoofferawiderrangeofproductsinordertocompeteeffectively.Thistrendisalsoconsistentwiththefocusoncustomerretention.Iffinancialinstitutionswishtoretaintheircustomersandbuildlong-termsatisfyingrelationshipswiththem,theyneedtobeabletoofferarangeofproductswhichmeetcustomersneedsovertheirlifetime.,Strategicresponsestothechallengesofthefinancialservicesenvironment(4),3.Arms-lengthdistribution(1)Branchestraditionallyhavebeenthemaindeliveryvehicleforbanksandbuildingsocieties.Oneofthereasonsforthiswasthatmanyfinancialproductswerethoughttobecomplexandrequiredaface-to-faceinterviewwiththecustomer.Theotherreasonwasthatpersonalcontactwiththecustomerenabledarelationshiptobedevelopedandcross-sellingtotakeplace.,Strategicresponsestothechallengesofthefinancialservicesenvironment(5),3.Arms-lengthdistribution(2)Morerecently,therehasbeenagrowthinremotedistributionmethods.Oneofthekeydrivershasbeenthedesireoffinancialinstitutionstostreamlinethebranchnetworkandreduceitscost.Anotherreasonisthatfinancialinstitutionswantedtoprovidecustomerswithgreateraccesstothem.Customersactuallyprefertohaveanarms-lengthrelationship(保持距离型关系）withtheirfinancialservicesproviderandaremakinguseofthetelephoneandtheinternettoconducttheirfinancialtransactions.,Strategicresponsestothechallengesofthefinancialservicesenvironment(6),4.ChargingServicesincuracostwhichneedstoberecoveredsomewhere,eitherfromanothercustomerorthroughthepurchaseofanotherproduct.However,freebankingessentiallymeantthatcurrentaccounts,forexample,couldbeoperatedfreeofchargetothecustomerprovidingtheaccountwaskeptincreditordidnotgobeyondanagreedoverdraftlimit.Thecustomerwasimplicitlychargedbynotreceivinginterestoncreditbalances.Thisprovidedanimportantsourceofincomeforthebankswhichwereabletouseinterest-freedepositedfundstofurnishshort-termborrowingwhichwouldbechargedatthecurrentinterestrate.,DiscussionQuestion,Whatistherationaleforregulation?Whyisthereaparticularjustificationforregulationinthefinancialservicessector?Briefylydiscussthechangingroleoftechnologyforfinancialinstitutions;Outlinethetrendsinstrategicresponsesoffinancialinstitutionstowardsanincreasinglycompetitivemarketplace.,Thankyouforlistening,2.EconomicEnvironment(3)Income,Incomeisoneofthekeyfactorsinfluencingdemandforfinancialservices.Disposableincome,inparticular,influenceswhatpeoplespendtheirmoneyon.Inrelationtofinancialservices,ithasanimpactontheamountpeoplesave,theirabilitytoraiseandpaycreditandloansaswellastheirattitudestowardsriskandinvestments.,2.EconomicEnvironment(4)Income,Disposableincome可支配收入Incomereceivedbyhouseholdsissubjecttotaxationintheformofincometax（个人所得税）,localtaxes（地方税）andcontributionstowardspensions（养老保险）andnationalinsurance（国民保险).Disposableincomeisthatwhichisremainingaftertaxesandothersocialcontributionshavebeendeducted.,2.EconomicEnvironment(5)Income,PersonalWealth(个人财富)Ortheamountpeoplesaveisaccumulatedfromsavingpartofincomeorthroughgainsfromexistinginvestments,italsotakesaccountofwealthassociatedwithproperty.Creditandloans(信贷)Manypurchasesarenotpaidforoutofsavings,butarepaidforovertimeusingoneofthevariousformsofcreditavailable.Theamountofcreditorloansraiseddependsononesincomelevel.,2.EconomicEnvironment(6),Changesinincom