Building Financial Brands Directly

Stewart Pearson

Chapter 14 in Building Brands Directly, 1996, pp 330-347 from Palgrave Macmillan

Abstract: Abstract Financial products are the ultimate in services. The basic banking product is simply the transmission of money between seller and buyer in a marketing transaction. Banks and other retail financial institutions — building societies in the UK, savings and loans in the US — generate a margin on the transmission of money by lending long term at a higher rate of interest than they pay on short-term deposits. Similarly, life assurance and general insurance companies generate a margin between the price individuals are willing to pay to insure against risks, and the value of claims they make. The delivery of financial services involves huge administrative complexity. Billions of transactions are recorded, processed and reported — a task that before computerisation required armies of clerical staff, few of whom ever met customers.

Keywords: Financial Service; Customer Relationship; Brand Personality; Building Society; Financial Company (search for similar items in EconPapers)
Date: 1996
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Persistent link: https://EconPapers.repec.org/RePEc:pal:palchp:978-1-349-13771-8_14

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DOI: 10.1007/978-1-349-13771-8_14

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