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Marketing financial services to all levels of affluence
Author(s) -
Verbrugge James A.,
Whidbee David A.,
Friedmann Roberto
Publication year - 1995
Publication title -
psychology and marketing
Language(s) - English
Resource type - Journals
SCImago Journal Rank - 1.035
H-Index - 116
eISSN - 1520-6793
pISSN - 0742-6046
DOI - 10.1002/mar.4220120806
Subject(s) - marketing , business , selection (genetic algorithm) , financial services , financial market , finance , public relations , political science , artificial intelligence , computer science
This study examines efforts being made by commercial banks to satisfy their obligations under the Community Reinvestment Act while at the same time responding to changes in their economic and competitive environments. Banks are being directly and indirectly mandated by outside forces to find ways to serve all segments of their markets. What one could consider the banks' choices or prerogatives, such as served markets, selection and pursuit of desired market niches, differentiation strategies, and positioning alternatives, are all being affected by outside regulatory forces. In an effort to identify the marketing‐related factors that differentiate the two groups, this study compares the policies and characteristics of those institutions that are satisfying their regulatory obligations to those institutions that are not satisfying their obligations. © 1995 John Wiley & Sons, Inc.