Best Practices in Marketing Retail Banking Products: Trends,

1. Main Title Market Research Report Insight Report: Best Practices in Marketing Retail Banking Products ©reportscue

2. Synopsis: The global banking industry is changing the way it markets products and services, with banks in both developed and emerging economies adopting customer segmentation strategies to distinguish their products from those of their competitors. These strategies have increased banks’ client bases, and the number of potential customers. To capitalize on this, banks have expanded their product portfolios, adopted pricing strategies, and expanded into new regions. Banks are also focusing on the technological aspects of offering their products, and are using analytics to understand consumers’ purchasing behaviors and preferences to offer personalized products and an improved customer experience. Promotional campaigns through traditional channels such television, radio, print media and telemarketing have been among key initiatives taken by banks to increase brand awareness. The proliferation of video and mobile technology has also enabled banks to market their products and services online, and through mobile channels and social media. As internet access and smartphone adoption increase, so does consumer demand for convenient banking services through these channels. Banks are therefore developing processes and employing new channels to respond to web-based consumers, create brand awareness, promote new products and services, identify customer needs, and elicit feedback.

3. Report Overview:Telematics has redefined the way motor insurance products are designed and marketed. As a disruptive technology in the insurance industry, insurance telematics offers huge growth potential as well as many challenges for motor insurers. It has brought the pricing of motor insurance to the discretion of customers, redefining the customer experience. Although insurance telematics is mostly used as a niche product to target high-risk drivers such as young motorists, its popularity during 2009-2013 has brought it into the mainstream of motor insurance business. Insurers, as well as government and vehicle manufacturers, are promoting initiatives to make telematics a mass-market product. Insurance telematics is widely seen as the future of motor insurance. Demand for insurance telematics expected to soar over 2013-2018.The insurance telematics market is in a nascent stage. The US, Italy and the UK are the early adopters of insurance telematics products, and Italy is currently the most mature market with a penetration rate of 4% at the end of 2013. The estimated global sale of insurance telematics products increased to 4.5 million as of December 2013, with an estimated market size of US$4 billion in terms of gross written premium. The potential of telematics technology to offer a win-win business relation between insurer and policyholder is driving rapid growth of insurance telematics products in the European and US markets. Global sales of insurance telematics products are projected to grow at a CAGR of 80.20% over 2013-2018, and the subscriber base is expected to reach 85.5 million in 2018

4. Scope : • This report highlights the key operational and technological trends arising in the global retail banking industry due to rising competition and changing consumer behavior. • The report gives an insight into marketing strategies adopted by banks in countries such as the US, Canada, the UK, Germany, Australia, South Korea, Brazil, Russia, India and China. • The report outlines the various factors affecting consumer’s choices of retail banking products in developed and emerging economies.  • The report also discusses the key drivers, issues and challenges faced by the retail banks while implementing product, pricing and marketing strategies in these economies. • The report outlines the various channels that banks use to launch marketing campaigns, promote products and services, and communicate with customers.

5. Key Highlights :• The banking industry is becoming competitive in key developed and emerging economies, with numerous domestic and international banks. To remain competitive and gain market share, banks are striving to offer improved products and pricing benefits that can be distinguished from those of their competitors. • In order to create brand value and awareness of products, banks around the world have formulated a number of marketing and product strategies to highlight their expertise in offering specialized services, their experience as an established brand, and the range of their products and services. • The banks in both developed and emerging economies are extensively using marketing analytical tools to analyze large volumes of both structured and unstructured transaction data to understand customers’ buying behavior. This enables banks to segment customers and target specific groups with customized marketing campaigns and products. Banks segment their clients primarily based on income level, and demographic and psychographic profiles. • Banks in developed economies have focuses on offering improved customer service, attractive reward programs and financial incentives to retain customers and acquire new ones. In emerging economies, price has been the primary reason for low banking penetration. 

6. Table of Contents: 1 Executive Summary 2 Retail Banking Market Dynamics3 Marketing Strategies in Developed Economies4 Marketing Strategies in Emerging Economies5 Best Practices in Retail Banking Marketing6 Appendix

7. List of Figures: 1 Overview of Retail Banking Marketing 2 Teenagers and Young Adults (Aged Below 25 Years) in Developed Economies, 2009–2018 3 Aging Population (65 Years and Over) in Key Developed Economies, 2010–2025 4 Population Gender Percentages in Key Developed Economies, 2013 5 Young and Economically Active Populations in Emerging Economies, 2010–2025 6 Population Gender Percentages in Key Emerging Economies, 2013 7 Active Mobile Broadband Subscriptions in Developing Economies (Million), 2009–2013

8. Reason To Buy :• Gain insights into the retail banking industry in developed and emerging economies.  • Gain analysis of banking industry based on strategies adopted to improve products and product portfolios in key markets.  • Gain insights into key operational and technological trends in retail banking. • Gain an understanding of various channels that banks use to promote products and services, and to communicate with customers. To Get Details: http://www.reportscue.com/insight-report-best-practices-in-ing-retail-banking-products-market