Overview of Service Marketing Strategy of the “Non-Bank Financial Institutions”: Problems & Prospects.
Journal Title: IOSR journal of Business and Management - Year 2018, Vol 20, Issue 8
Abstract
Non-Bank Financial Institutions (NBFIs) are playing a significant role in meeting the diverse financial needs of various sectors of our economy. A NBFI (Non Bank Financial Institution) is an organization that does not accept customer cash deposits but provides all financial services except bank accounts. NBFIs can be three types: Insurance Company, Mutual Fund Company & Financial/Investment Company. NBFIs provide ‘service’ to the customer. Service marketing is marketing based on relationship and value. NBFIs follow different types of marketing strategies. But because the services of NBFIs are difficult to understand, general people don’t know much about them. Also illiteracy, low income level, lack of trained people, lack of R&D, Government’s regulation etc are the major constraints of service marketing of NBFIs. NBFIs should increase customer relationship, customization, free counseling &briefing etc. Most of all, service marketing of NBFIs yet in growth stage and has more opportunity to contribute in the economic development of the country.
Authors and Affiliations
Suma Akter, Shakil Ahmed
Keywords
Related Articles
- EP ID EP412355
- DOI 10.9790/487X-2008045258.
- Views 51
- Downloads 0
Human Resource Management Aspect in Leather Industry In Bangladesh
The study aims to focus on resource management aspect in leather industry in Bangladesh.Leather industry in Bangladesh was developed on a large-scale basis from 1970’s. Most of the industries are export oriented and abou...
Service Quality Dimensions in Mobile Telecommunication Sector
Indian mobile telecommunication sector is passing through an interesting phase of data revolution. The entry of the new telecom operator Reliance Jio has brought significant reduction in the tariff structure of voice cal...
Perceived Tension in Post-Complaint Recovery: The CrossFunctional Theoretical Framework
There exists a dearth of frameworks that improve theoretical lenses into understanding post-recovery tension and satisfaction. This article reports on interactional influences within the tribes of employees, and customer...
Relationship between Communication Channels and Strategy Implementation among Parastatals / State Corporations in Kenya
Communication can be termed as the gate pass which describes the responsibilities and tasks that employees need to undertake in order to fulfil a company’s business strategy. It becomes strategic when it assists top mana...
The Relationship between Job Satisfaction, Work-Life Balance and Organizational Commitment on Employee Performance.
The study examines the relationship between work-life balance, job satisfaction and organizational commitment on employee performance among administrative staff in Northern region universities in Malaysia. The study adop...