Exchange relationships in financial services: marketing equities to institutions

Exchange relationships in financial services: marketing equities to institutions London securities houses wish to improve equity securities marketing to institutional fund managers following major changes in the regulatory environments. There is a lacuna in the literature. Senior level respondents on both sides, from New York, London, Hong Kong and Toronto, participated in research to explore the nature of the marketing relationship. Results show that the industry is characterized by extensive technological development and increasing use of quantitative data but is driven by personal relationships. In addition to factors recognized in the literature (reciprocity, trust, comfort, reliability), these relationships are characterized by: long “development” lead time before pay‐off; consistent daily maintenance by seller; durability; personal relationships being the dominant factor; people being more important than the company they work for; independence from time, place, or distance barriers, important for the globalization of financial services; non‐transferability, the bond being between individuals, not organizations; and an independence from tangible evidence (contrary to industry expectations). Highlights managerial implications for the industry and presents guidelines for future research. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Bank Marketing Emerald Publishing

Exchange relationships in financial services: marketing equities to institutions

International Journal of Bank Marketing, Volume 14 (2): 14 – Apr 1, 1996

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Publisher
Emerald Publishing
Copyright
Copyright © 1996 MCB UP Ltd. All rights reserved.
ISSN
0265-2323
DOI
10.1108/02652329610106917
Publisher site
See Article on Publisher Site

Abstract

London securities houses wish to improve equity securities marketing to institutional fund managers following major changes in the regulatory environments. There is a lacuna in the literature. Senior level respondents on both sides, from New York, London, Hong Kong and Toronto, participated in research to explore the nature of the marketing relationship. Results show that the industry is characterized by extensive technological development and increasing use of quantitative data but is driven by personal relationships. In addition to factors recognized in the literature (reciprocity, trust, comfort, reliability), these relationships are characterized by: long “development” lead time before pay‐off; consistent daily maintenance by seller; durability; personal relationships being the dominant factor; people being more important than the company they work for; independence from time, place, or distance barriers, important for the globalization of financial services; non‐transferability, the bond being between individuals, not organizations; and an independence from tangible evidence (contrary to industry expectations). Highlights managerial implications for the industry and presents guidelines for future research.

Journal

International Journal of Bank MarketingEmerald Publishing

Published: Apr 1, 1996

Keywords: Financial markets; Global marketing; Securities markets; Services marketing

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