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Forces at Work The Market for Personal Financial Services

Forces at Work The Market for Personal Financial Services The market for personal financial services within the UK hasundergone significant change over the last decade. Forces for changewhich have influenced market evolution include the economic climate,rising asset values, increasing wealth, privatisation, deregulation anda range of Government incentives. Appreciation of the organisationsability to cope in this new environment may be heightened by undertakinga systematic evaluation of resource strengths and weaknesses andrelating these to the opportunities and threats posed by theenvironment. Financial institutions may be compared by preparing anindividual SWOT analysis. The new decade will see winners and loserswith the most successful organisations developing a clear businessmission and a well articulated strategy which controls costs andprovides competitive advantages. Winners will focus on customer needsand clearly differentiate their products through noticeably higherlevels of service quality. Marketing will play an important part intheir success. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png International Journal of Bank Marketing Emerald Publishing

Forces at Work The Market for Personal Financial Services

International Journal of Bank Marketing , Volume 9 (6): 6 – Jun 1, 1991

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References (2)

Publisher
Emerald Publishing
Copyright
Copyright © Emerald Group Publishing Limited
ISSN
0265-2323
DOI
10.1108/EUM0000000001468
Publisher site
See Article on Publisher Site

Abstract

The market for personal financial services within the UK hasundergone significant change over the last decade. Forces for changewhich have influenced market evolution include the economic climate,rising asset values, increasing wealth, privatisation, deregulation anda range of Government incentives. Appreciation of the organisationsability to cope in this new environment may be heightened by undertakinga systematic evaluation of resource strengths and weaknesses andrelating these to the opportunities and threats posed by theenvironment. Financial institutions may be compared by preparing anindividual SWOT analysis. The new decade will see winners and loserswith the most successful organisations developing a clear businessmission and a well articulated strategy which controls costs andprovides competitive advantages. Winners will focus on customer needsand clearly differentiate their products through noticeably higherlevels of service quality. Marketing will play an important part intheir success.

Journal

International Journal of Bank MarketingEmerald Publishing

Published: Jun 1, 1991

There are no references for this article.