Abstract
Nigeria financial market is emerging, the growth in institutions and products require a marketing strategy that will meet the needs of growing population. This study examined marketing of financial services. It discussed financial service products, segmentation of financial products, brands in financial market, financial service marketing environment, marketing of financial service through the internet, distribution channels of financial products, strength, weakness, opportunities and threat of Nigeria financial market, the needs for marketing of financial services, features of financial products and pricing of financial products. The study concludes that marketing of financial services is a determinant of financial inclusion, therefore policies and strategies should be advanced by management and regulators in the financial market.
Highlights
Financial institutions are economic decision units established for providing financial services to its target markets with the main objective of making adequate returns or profits on the funds invested and being socially responsible to the society
Financial industry as a whole, produces a wide range of services but all these services are related directly or indirectly to assets and liabilities, that is, claims on people, organization, institutions, companies and government. financial system performs certain essential functions for the economy, including maintenance of payment system, collection and allocation of the savings of society, and creation of a variety of stores of wealth to suit the preferences of savers
Financial products act as an investment avenue and produce the required financial security to investors based on the risk-return profile of financial products (Adegbola, N.D)
Summary
Financial institutions are economic decision units established for providing financial services to its target markets with the main objective of making adequate returns or profits on the funds invested and being socially responsible to the society. The key concept of financial services is economic based services which relates to a wide range of businesses that manage money including credit unions, banks, credit cards, insurance consumer finance, stock brokers, investment funds, and government bonds (Alfred and Addams, 2000), all of these services have their various markets which include buyers, sellers, government and other firms. They are all referred to as financial customers to variety of financial services, which may include rising of capital, transfer of risk, price discovery, transfer of liquidity export and import transaction and other global transaction among others (Wilson and Williams, 2002). FCMB Investment Banking CSL Stock Brokers Limited Legacy Pension Fund Micro Finance Bank
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