MMPB 005 Solved Assignment 2023-24


MMPB 005 Solved Assignment 2023-24

Marketing of Financial Services

MMPB 005 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

Assignment Code: ASST/ MMPB 005/2023-24

Marks: 100

Attempt all the questions.

Q1. Define services. Discuss the service characteristics and the implications that they create for marketers of financial services.

Services refer to intangible offerings that provide value to customers through the performance of actions, delivery of experiences, or provision of access to resources. Unlike tangible goods, services are not physical and cannot be stored or owned. They are often characterized by their intangibility, inseparability, variability, and perishability. Let's explore these service characteristics and their implications for marketers of financial services:


Definition: Services lack physical form and cannot be touched or felt before purchase.

Implications for Marketers:

Marketers need to find ways to make the intangible aspects of financial services tangible. This can be achieved through the use of tangible cues such as brochures, online tools, and physical locations (e.g., bank branches).

Emphasizing the expertise of service providers and the positive outcomes of the financial services can help in communicating value to customers.


Definition: Services are often produced and consumed simultaneously. The service provider and the customer are typically present during the service delivery.

Implications for Marketers:

Training and empowering service personnel to provide excellent customer service become crucial. Employees are a direct representation of the service and can influence customer perceptions.

Building strong customer relationships and creating a positive service environment are essential for customer satisfaction and loyalty.


Definition: Services are subject to variation in quality and consistency due to their reliance on human factors and the unique nature of each interaction.

Implications for Marketers:

Standardization of processes and the use of technology can help minimize variability and ensure a consistent level of service quality.

Continuous training and monitoring of service delivery can help address variability issues and maintain service standards.


Definition: Services cannot be stored for future use; they are perishable and must be consumed at the time of production.

Implications for Marketers:

Marketers must manage demand and supply effectively to avoid underutilization or overloading of service capacity.

Strategies such as pricing, promotions, and incentives can be employed to manage demand fluctuations and optimize resource utilization.


Definition: Services are heterogeneous or diverse because they are often tailored to meet the specific needs of individual customers.

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Understanding the diverse needs of customers is crucial. Marketers may need to offer a range of financial products and services to cater to different segments.

Customization and personalization play a significant role in meeting customer expectations and enhancing the overall service experience.

In the context of financial services, these characteristics highlight the importance of building trust, managing customer expectations, and delivering a consistent and reliable experience. Effective communication, employee training, technology integration, and customer relationship management are key elements for marketers in the financial services sector to address the challenges posed by these service characteristics.

Q2. Define the concept of Product and Product Mix for banking services.

Q3. What is Merchant Banking? Discuss the nature and scope of Merchant Banking Functions.

Q4. Discuss the features of different types of Mutual fund schemes.

Q5. Explain how effective marketing will be useful in enhancing insurance business and suggest ways to expand insurance business in rural areas.

MMPB 005 Solved Assignment 2023-24 : All assignments are in PDF format which would be send on email/WhatsApp (9958676204) just after payment.

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