Contact Information Convenor: Dr Julie Francis - Concourse. ANU's ...
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FINAL • College of Business and Economics • Research School of Management
MARKETING FOR FINANCIAL SERVICES MKTG-2003
In Person
Semester 2 2018 6 Units Delivery Modified 16/08/2018
Contact Information
Convenor: Dr Julie Francis
Email: julie.francis@anu.edu.au (mailto:julie.francis@anu.edu.au)
Consultation by appointment
Research School of Management: STUDENT OFFICE
Email: enquiries.rsm@anu.edu.au (mailto:enquiries.rsm@anu.edu.au)
Office: Room 1088, Level 1, LF Crisp Building 26
Website: https://www.rsm.anu.edu.au/ (https://www.rsm.anu.edu.au/)
Phone:
02 6125 6737
02 6125 9839
College of Business and Economics: STUDENT OFFICE
Email: info.cbe@anu.edu.au (mailto:info.cbe@anu.edu.au)
Office: Level 2, Building 26C
Website: https://www.cbe.anu.edu.au/ (https://www.cbe.anu.edu.au/)
Phone:
1300 732 120 Within Australia
+612 6125 3807 International
Description
The objective of this course is to introduce students to the marketing of financial services. All financial
institutions, including consumer banks and corporate finance services, practice some form of marketing. Some
firms market themselves better than others, as evidenced in the competitive value of their brands.
This course will demonstrate to students the benefits of using an analytical approach to marketing in the
financial services industry, and will show students how to undertake that analysis. An analytical approach helps
firms to (1) identify marketing options, (2) calibrate the opportunity costs associated with each option, and (3)
choose the best option to achieve the firm's business goals.
This course operationalizes several marketing concepts such as segmentation, targeting, and positioning. By the
end of this course, students will know how to segment customers, what kind of data are required to do so, what
are the different ways to segment, which customers to target, how to determine the best positioning of your
brand in customers' minds, how to develop new products/services that add value to consumers and firms, how
to price financial products, how to efficiently manage multiple brands across multiple segments in order to meet
corporate bottom-line goals, how to develop a brand, how to migrate a brand when brands are acquired or
merged, and how to co-brand financial services.
The pedagogic philosophy in this course is that of learning by doing. Therefore, students will go beyond learning
conceptual marketing material to learning how to do marketing, using real and simulated data from the financial
services industry.
Requisites
To enrol in this course you must have completed a STAT course Learning Outcomes
Upon successful completion of the requirements for this course, students will be able to:
1) define, explain and illustrate some of the frameworks and approaches that are helpful in marketing financial
services;
2) describe how:
marketing contributes to success in modern financial institutions;
the marketing of services like financial services differs from tangible goods marketing;
3) discuss how:
segmentation is used to understand and manage customer behaviour;
to position value propositions, products and brands in customers' minds;
to develop new products (goods and services) that add value to consumers and firms;
to price financial products;
4) outline how to identify which customers to target; and,
5) outline how to efficiently manage multiple product or brand portfolios across multiple customer segments, and
how to develop an effective marketing strategy in modern financial service organisations.
Schedule
Please refer to course Wattle website for change to seminar scheduling. Due to clashes with many
courses on Monday, the course will run weekly for 12 weeks, with a choice of a 2hr seminar on
Wednesday (12noon-2pm or 2pm-4pm).
Research-Led Teaching
This course draws insights from scholarly research, industry publications, case studies, and market analyses.
Students are able to develop and apply their understanding of the content through assessments that
link research and practice.
Feedback
The lecturer will do their utmost to provide timely, constructive and actionable feedback on students’
performance in assessment tasks. Feedback will be provided via marking rubrics, written comments on
assignments, verbal comments in class, and discussion with groups.
When Topic Notes
Week 1 Introduction to Marketing Financial Services Read Ch. 1 & 2
Week 2 The Nature of Financial Services Group Formation & Discussion of Assignments
Read Ch. 3
Week 3 Strategy Development, Planning, & the Marketplace Read Ch. 4 & 5
Week 4 Understanding the Consumer Read Ch. 6
Online Assignment 1 due Friday 4.00pm
Week 5 Segmenting, Targeting, & Positioning Read Ch. 7
Week 6 Customer Acquisition & the Marketing Mix Read Ch. 9
Individual Assignment due Friday 4.00pm
Week 7 Products & Consumer Needs Read Ch. 10
Week 8 Communication & Promotion Read Ch. 11
Week 9 Price, Convenience, & Distribution Read Ch. 12 & 13When Topic Notes
Week 10 Customer Relationship Management Group Project Progress Review
Read Ch. 14
Week 11 Service Quality, Satisfaction, Value, and Trust Read Ch. 15 & 16
Online Assignment 2 due Friday 4pm
Week 12 Culture, Challenges, & Social Responsibility Read Ch. 17
Group Assignment due Friday 4pm
Materials
Financial Services Marketing: An International Guide to Principles and
Practice 3rd Ed.
Author: Ennew, C., Waite, N. and Waite, R.
Publisher: Routledge
The text can be obtained online from the publisher’s website as an eBook or in hardcopy. The options and
approximate prices include eBook rental ($48), eBook purchase ($86), paperback ($105), and hardback
($231).
https://www.routledge.com/Financial-Services-Marketing-An-International-Guide-to-Principles-and/Ennew-
Waite-Waite/p/book/9781138684522 (https://www.routledge.com/Financial-Services-Marketing-An-
International-Guide-to-Principles-and/Ennew-Waite-Waite/p/book/9781138684522)
Assessment Overview
Summary
Type Weight Learning Outcome Notes
Online Assignment 1 10% LO 1 and 2 Individual Assessment
Due: Week 4 Friday 4.00pm
Word Limit: 600 words
Submission: Turnitin
Return: Two weeks after submission
Individual Assignment 40% LO 3 and 4 Individual Assessment
Due: Week 6 Friday 4.00pm
Word Limit: 2000 words
Submission: Turnitin
Return: Two weeks after submission
Online Assignment 2 20% LO 1 and 2 Individual Assessment
Due: Week 11 Friday 4.00pm
Word Limit: 1000 words
Submission: Turnitin
Return: Two weeks after submissionType Weight Learning Outcome Notes
Group Project 30% LO 4 and 5 Group Assessment
Due: Week 12 Friday 4.00pm
Word Limit: 3000 words
Submission: Turnitin
Return: After release of final grades
Grading Scale
According to the ANU policy on assessment (https://policies.anu.edu.au/ppl/document/ANUP_004603
(https://policies.anu.edu.au/ppl/document/ANUP_004603)), the standards that apply to High Distinction,
Distinction, Credit and Pass in all coursework courses are as follows:
Grade Range Notes
HD 80- Work of exceptional quality, as demonstrated in the attainment of learning outcomes at or
100% above the relevant qualification level
D 70- Work of superior quality, as demonstrated in the attainment of learning outcomes at or
79% above the relevant qualification level
C 60- Work of good quality, as demonstrated in the attainment of learning outcomes at or above
69% the relevant qualification level
P 50- Work of satisfactory quality, as demonstrated in the attainment of learning outcomes at or
59% above the relevant qualification level
N 0-49% Work in which the attainment of learning outcomes at or above the relevant qualification
level has not been demonstrated
Assessment Items
Online Assignment 1 (10%)
Online Assignment 1 comprises short answer style questions that assess understanding and application of
the content from Weeks 1 to 4 (inclusive). The total word limit for responses is 600 words.
The assignment will run online via Wattle. In Week 4, the task will open on Wednesday at 4.00pm and close
on Friday at 4.00pm. Students may complete the assignment at any point in that timeframe.
Further information regarding the question style, learning resources, assessment criteria, and online
instructions will be posted on Wattle.
Individual Assignment: The Pitch (40%)
The Individual Assignment is linked to the Group Project. In Week 2, students form groups and nominate a
real-life financial service provider for whom they will propose a new financial product(s) and prepare a
marketing plan for that product(s). In the Individual Assignment (due Week 6), each group member
independently generates and pitches a different new product for the client. For the Group Project (due Week
12), groups select one or more of their product ideas to take forward and develops a marketing plan for the
new product(s).
For the Individual Assignment, students submit their new product pitch as a 2000 word document that
includes a one-page business model canvas. Students are also required to post a copy of their business
model canvas on their group wiki.
The individual work is due Friday 4.00pm of Week 6. Further information about the assignment
requirements, learning resources, and assessment criteria will be posted on Wattle.
Online Assignment 2 (20%)
Online Assignment 2 comprises short answer style questions that assess understanding and application ofthe content from Weeks 5 to 11 (inclusive). The total word limit for responses is 1000 words.
The assignment will run online via Wattle. In Week 11, the task will open on Wednesday at 4.00pm and close
on Friday at 4.00pm. Students may complete the assignment at any point in that timeframe.
Further information regarding the question style, learning resources, assessment criteria, and online
instructions will be posted on Wattle.
Group Project: The Plan (30%)
The Group Project is linked to the Individual Assignment. In Week 2, students form groups and nominate a
real-life financial service provider for whom they will propose a new financial product(s) and prepare a
marketing plan for that product(s). In the Individual Assignment (due Week 6), each group member
independently generates and pitches a different new product for the client. For the Group Project (due Week
12), groups select one or more of their product ideas to take forward and develops a marketing plan for the
new product(s).
For the Group Project, groups submit a 3000 word marketing plan that identifies and justifies their
nominated new product(s), presents an updated one-page business model canvas for the new product(s),
and outlines a marketing plan for the new product(s). Group members will be able to complete a peer
evaluation form that may be used to moderate marks.
The group work is due Friday 4.00pm of Week 12. Further information about the assignment requirements,
learning resources, and assessment criteria will be posted on Wattle.
Detailed Course Information
ADDITIONAL COURSE COSTS:
None.
Submission of Assignments:
All assessed components of the course, other than the final exam, should be submitted via Wattle. A link will be
provided on Wattle that you will be expected to use for this purpose. You must ensure that all files you want
assessed, are on Wattle before the time they are due.
The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment
submissions as a component of the University's approach to managing Academic Integrity. For additional
information regarding Turnitin please visit the ANU Online website.
Students may choose not to submit assessment items through Turnitin. In this instance you will be required to
submit, alongside the assessment item itself, copies of all references included in the assessment item.
Course Expectations
Announcements
Students are expected to check the Wattle site for announcements about this course, e.g. changes to
timetables or notifications of cancellations. Notifications of emergency cancellations of lectures or tutorials
will be posted on the door of the relevant room.
Tutorial and/or Seminar registration
Tutorial and/or Seminar registration is done through the course Wattle page. Detailed information about
sign-up times will be provided on Wattle or during the first lecture by the course convener.
When tutorials/seminars are available for enrolment:
1. Log-on to Wattle, and go to the course site.
2. Click on "Tutorial sign-up here" link
3. On the right of the screen, click "Become Member of ..." for the tutorial/seminar class
you with to enrol in.
4. Confirm your choice.If you need to change your enrolment, click on the tab "Leave group..." and then re-enrol in another group.
You will not be able to enrol in groups that have reached their maximum number.
Please note that your enrolment in ISIS must be finalised for you to have Wattle access.
Extensions and penalties
Extensions and late submission of assessment pieces are covered by the Student Assessment (Coursework)
(https://policies.anu.edu.au/ppl/document/ANUP_004604) Policy and Procedure.
You may be granted extensions for assessment pieces that are not examinations or take-home examinations
by applying for an extension via the RSM Office. Information on the application process can be found
https://www.rsm.anu.edu.au/education-programs/education-programs/notices-for-students/extension-
application-procedure/ (https://www.rsm.anu.edu.au/education-programs/education-programs/notices-for-
students/extension-application-procedure/)
The application must include all supporting documentation and will be assessed by the Research School of
Management’s Deputy Director (Education). You will be notified by your Course Convenor if an extension has
been approved.
Late submission of assessment tasks without an extension are penalised at the rate of 5% of the possible
marks available per working day or part thereof. Late submission of assessment tasks is not accepted 10
working days after the due date, or on or after the date specified in the course outline for the return of the
assessment item.
If a Course Convener determines that late submission of assessment tasks is not accepted for a coursework
course, this information is included in the course outline.
Special consideration for assessments
Special consideration is the process by which an examiner takes extenuating circumstances into
consideration during the marking of an assessment item.
Information on special assessment consideration and the application process can be found at:
http://www.anu.edu.au/students/program-administration/assessments-exams/special-assessment-
consideration (http://www.anu.edu.au/students/program-administration/assessments-exams/special-
assessment-consideration).
The application and include all supporting documentation must be submitted via ISIS before being assessed
by the Course Convener or the Research School of Management’s Deputy Director (Education).
Identify your Assignment with your Student Number only
When submitting your assignment please ensure that it contains your student number in the file name and
on the first page. Please do not put your name anywhere in your assignment.
Resubmission of assignments
You are allowed to resubmit your assignments before the specific deadlines. Any submission done after the
deadline will be considered as a late submission and the above listed penalty conditions will apply.
Returning assignments
All assignments will be marked and where appropriate feedback will be provided either:
in class, or
in person by appointment with the course lecturer, or
via the course Wattle site.
Referencing requirements
See any specific requirements under Assessment Items or as instructed by the Course Convener.
The Harvard, APA or Oxford referencing styles are often used. Links to documentation on proper referencing
methods are available on the course website or from the Academic Skills
website: http://www.anu.edu.au/students/learning-development/academic-integrity/referencing
(http://www.anu.edu.au/students/learning-development/academic-integrity/referencing)Deferred examinations
A deferred examination is the sitting of an examination at a time other than the scheduled time/date.
Wherever possible a student should sit their examination at the prescribed time, and if necessary apply for
special assessment consideration for the marking of the examination.
Information on deferred examinations and the application process can be found at:
http://www.anu.edu.au/students/program-administration/assessments-exams/deferred-examinations
(http://www.anu.edu.au/students/program-administration/assessments-exams/deferred-examinations)
Decisions on applications relating to examinations are made by the Examinations Office. You will be notified
by the Examinations Office if your application has been approved.
After receiving notification that a deferred examination has been granted, it is the responsibility of the
student to confirm the date/time/location for that examination with the Examination Office directly.
Finalisation of Marks and Grades
Your final mark for the course will be based on the raw marks allocated for each of your assessment items.
However, your final mark may not be the same number as produce by that formula, as marks may be
scaled. Any scaling applied will preserve the rank order of raw marks (i.e. if your raw mark exceeds that of
another student, then your scaled mark will exceed the scaled mark of that student), and may be either up or
down.
Use of Assignments as exemplars and grade moderation
An important resource for enhancing educational quality is a stock of student work which can be de-
identified and used as exemplars for future students in ANU courses, and for grade moderation exercises for
teaching staff. If you do not wish your assignment to be used for such purposes please include a note to that
effect on the front page of the assignment.
ANU Policies
ANU has educational policies, procedures and guidelines, which are designed to ensure that staff and students
are aware of the University’s academic standards, and implement them. You can find the University’s education
policies and an explanatory glossary at: http://policies.anu.edu.au/ (http://policies.anu.edu.au/)
Key policies include:
Code of Practice for Student Academic Integrity
Student Assessment (Coursework) Policy and Procedure
Undergraduate Award Rules
Graduate Award Rules
Student Surveys and Evaluations Policy
Assessment Requirements
The ANU is using Turnitin to enhance student citation and referencing techniques, and to assess assignment
submissions as a component of the University's approach to managing Academic Integrity. For additional
information regarding Turnitin please visit the ANU Online (http://online.anu.edu.au/turnitin) website.
Students may choose not to submit assessment items through Turnitin. In this instance you will be required
to submit, alongside the assessment item itself, copies of all references included in the assessment item.
As a further academic integrity control, students may be selected for a 15 minute individual oral examination
of their written assessment submissions.
Any student identified, either during the current semester or in retrospect, as having used ghost writing
services will be investigated under the University’s Academic Misconduct Rule.
Student Feedback
ANU is committed to the demonstration of educational excellence and regularly seeks feedback from
students. One of the key formal ways students have to provide feedback is through Student Experience of
Learning Support (SELS) surveys. The feedback given in these surveys is anonymous and provides theColleges, University Education Committee and Academic Board with opportunities to recognise excellent
teaching, and opportunities for improvement.
For more information on student surveys at ANU and reports on the feedback provided on ANU courses, go
to http://unistats.anu.edu.au/surveys/selt/students/
(http://unistats.anu.edu.au/surveys/selt/students/) and http://unistats.anu.edu.au/surveys/selt/results/learning/
(http://unistats.anu.edu.au/surveys/selt/results/learning/).
Student Support Services
Students experiencing academic or personal problems are welcome to discuss these with any member of the
Faculty or to utilise the ANU’s student support services links to which can be found
at http://students.anu.edu.au/ (http://students.anu.edu.au/), including:
Academic Skills and Learning Centre at https://academicskills.anu.edu.au/
(https://academicskills.anu.edu.au/)
Access and Inclusion at http://disability.anu.edu.au/ (http://disability.anu.edu.au/)
the Counselling Centre at http://counselling.anu.edu.au/ (http://counselling.anu.edu.au/)
Privacy Notice
The ANU has made a number of third party, online, databases available for students to use. Use of each
online database is conditional on student end users first agreeing to the database licensor’s terms of service
and/or privacy policy. Students should read these carefully.
In some cases student end users will be required to register an account with the database licensor and
submit personal information, including their: first name; last name; ANU email address; and other
information.
In cases where student end users are asked to submit ‘content’ to a database, such as an assignment or
short answers, the database licensor may only use the student’s ‘content’ in accordance with the terms of
service – including any (copyright) licence the student grants to the database licensor.
Any personal information or content a student submits may be stored by the licensor, potentially offshore,
and will be used to process the database service in accordance with the licensors terms of service and/or
privacy policy.
If any student chooses not to agree to the database licensor’s terms of service or privacy policy, the student
will not be able to access and use the database. In these circumstances students should contact their
lecturer to enquire about alternative arrangements that are available.You can also read
