• Asia Marketing Journal
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• v.12 no.2
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• pp.111-133
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• 2010

Marketing financial services used to be easier. Today, the competition in financial services is fierce. Not only has the competition become more intense, financial services have also changed structurally. In an environment with various customer needs and severe competitions, the marketing in financial services industry is getting more difficult and more important than before. However, there are still not enough studies on financial services marketing in Korea whereas lots of research papers have been published frequently in some international journals. The purpose of this paper is (1)to review the literature on financial services marketing, (2)to investigate current marketing activities based on in-depth interview with financial marketing managers in Korea, and (3)to suggest some implications for future research on the financial services marketing. Financial products are not consumer products. In fact, they are not products at all in the way product marketing is usually described. Nor are they altogether like services. The financial industry operates in a unique way, and its marketing tasks are correspondingly complex. However, the literature review shows that there has been a lack of basic studies which dealt with inherent characteristics of financial services marketing compared to the research on marketing in other industries. Many studies in domestic marketing journals have so far focused only on the general customer behaviors and the special issues in some financial industries. However, for more effective financial services marketing, we have to answer following questions. Is there any difference between financial service marketing and consumer packaged goods marketing? What are the differences between the financial services marketing and other services marketing such as education and health services? Are there different ways of marketing among banks, securities firms, insurance firms, and credit card companies? In other words, we need more detailed research as well as basic studies about the financial services marketing. For example, we need concrete definitions of financial services marketing, bank marketing, securities firm marketing, and etc. It is also required to compare the characteristics of each marketing within the financial services industry. The products sold in each market have different characteristics such as duration and degree of risk-taking. It means that there are sub-categories in financial services marketing. We have to consider them in the future research on the financial services marketing. It is also necessary to study customer decision making process in the financial markets. There have been little research on how customers search and process information, compare alternatives, make final decision, and repeat their choices. Because financial services have some unique characteristics, we need different understandings in the customer behaviors compared to the behaviors in other service markets. And also considering the rapid growth in financial markets and upcoming severe competition between domestic and global financial companies, it is time to start more systematic and detailed research on financial services marketing in Korea. In the second part of this paper, I analyzed the results of in-depth interview with 20 marketing managers of financial services companies in Korea. As a result, I found that the role of marketing departments in Korean financial companies are mainly focused on the short-term activities such as sales support, promotion, and CRM data analysis although the size and history of marketing departments to some extent show a sign of maturity. Most companies established official marketing departments before 2001. Average number of employees in a marketing department is about 58. However, marketing managers in eight companies(40% of the sample) still think that the purpose of marketing is only to support and manage general sales activities. It shows that some companies have sales-oriented concept rather than marketing-oriented concept. I also found three key words which marketing managers think importantly in financial services markets. They are (1)Trust in customer relationship, (2)Brand differentiation, and (3)Rapid response to customer needs. 50% of the sample support that "Trust" is the most important key word in the financial services marketing. It is interesting that 80% of banks and securities companies think that "Trust" is the most important thing, whereas managers in credit card companies consider "Rapid response to customer needs" as the most important key word in their market. In addition, there are different problems recognition of marketing managers depending on the types of financial industries they belong to. For example, in the case of banks and insurance companies, marketing managers consider "a lack of communication with other departments" as the most serious problem. On the other hand, in the case of securities firms, "a lack of utilization of customer data" is the most serious problem. These results imply that there are different important factors for the customer satisfaction depending on the types of financial industries, and managers have to consider them when marketing financial products in more effective ways. For example, It will be necessary for marketing managers to study different important factors which affect customer satisfaction, repeat purchase, degree of risk-taking, and possibility of cross-selling according to the types of financial industries. I also suggested six hypothetical propositions for the future research.

• Journal of Information Technology Services
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• v.13 no.3
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• pp.257-274
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• 2014

Social Network Services (SNSs) have grown to be new and promising tools of marketing. By referring to researches done on e-mail viral marketing, this paper operationizes SNS viral marketing effectiveness to accurately reflect marketing success in SNS environment, and tries to identify its affecting factors. As potential affecting factors, fan size, advertisement type, existence of engagement elicitation and incentive are identified. By sampling real advertisement postings on Facebook, we showed that fan size, advertisement type, and engagement elicitation are factors affecting SNS viral marketing success. This research expanded the conventional model of viral marketing into SNS settings to improve understanding on SNS viral marketing. Motivation is discussed as an important factor, and this research showed that viral campaign can be more successful when it triggers internal motivation to engage, but not the external motivation. This research could also be a guide for practitioners on how to post a successful advertisement in SNSs.

• Journal of Distribution Science
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• v.17 no.12
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• pp.33-42
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• 2019

Purpose: This study seeks to identify whether internal marketing factors have a statistically significant positive effect on the flow of services to customers of bank service employees. Specifically, the purpose of this study is to confirm the importance of internal marketing in the employees' services immersion to customers. In addition, the study seeks to identify whether employees' perceived organizational support recognition mediates between internal marketing factors and the employee's immersion in services to customers. Research design, data and methodology: This study distributed 100 questionnaires to employees working at banks to obtain data. Finally, the study conducted a statistical analysis on a questionnaire of 94 employees. For regression, factor analysis, and reliability analysis, the 24 version of the SPSS was used. For the mediation analysis, the SPSS macro developed by Hayes was used. Results: This study seeks to statistically verify which factors of internal marketing have a greater impact on employee immersion in services. Conclusions: Research verification has shown that all elements of internal marketing affect the employee's immersion in services to customers. It was also shown that the employee's recognition of organizational support mediated the relationship between factors of internal marketing and the employee's immersion in services to customers.

• Journal of the Korean Operations Research and Management Science Society
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• v.36 no.4
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• pp.125-141
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• 2011

There have been some research papers on financial services marketing, but there are only few exploratory studies that analyze characteristics of financial consumers in Korea. This study examines, based on FGI and web survey results, which factors consumers consider more important when choosing their financial services. I found that 'product profitability' is the most important factor when consumers choose their financial services, followed by 'relational benefits', 'convenience', 'product diversity', 'company stability', 'branch satisfaction', and 'social responsibility' in order of importance. The study also showed that there are differences in perception of these important factors depending on the types of consumers such as gender, age, size of financial assets, degree of risk-taking, and main financial company they are using. This study hopefully provide implications to marketing managers in financial services that they could decide which factors they have to focus on more when planning marketing strategies. Another objective of this study is to provide useful insights to the future researchers in financial services marketing.

• Journal of Korean Academy of Nursing Administration
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• v.5 no.1
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• pp.63-76
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• 1999

The main objective of this study was to develop a concept of service marketing promotion in nursing that is derived from the concepts of service marketing theory. This research was a descriptive study, at the factor isolation level. The principle of concept derivation suggested by Walker and Avant (1988) and the Hybrid model suggested by Schwarz-Barcott and Kim (1993) were employed as the research method. The data were collected from December, 1997 to April. 1998 at a large general hospital located in Seoul. The procedures of this study were as follows: First. at the theoretical phase: the meaning, attributes, and definition of service marketing promotion were identified through an extensive review of the literature. Second, at the empirical phase: fieldwork was done to identify the promotional activities and events in nursing. Top nurse managers from 4 units (Director of Nursing, Head nurses of inpatient nursing unit, outpatient nursing unit. and home care nursing unit) were interviewed and the content of the interview was analyzed to identify the meaning and attributes of promotion in nursing. Other methods such as brochures and other audio-visual materials which were relevant to nursing promotion were used to supplement the interviews. Finally, the results of the theoretical and empirical analyses were intergrated to develop a concept of service marketing in nursing practice. A final definition of service marketing promotion in nursing was identified as follows. 1. Promotion as a marketing function in nursing service is concerned with communication to target markets on all information related to nursing service in order to satisfy the objectives of both a nursing service organization and the target markets. 2. The goals of nursing service promotion include: 1) increasing visibility of nursing services and delivering the information on nursing services, 2) affirming the value of nursing services, so it can contribute to formulation of reimbursement policy for nursing services. 3) advancing the general image of the nursing profession and nursing services. 4) achieving and attaining a desirable positioning for nurses among health care professionals. and 5) creating and stimulating the demand for nursing services. 3. In order to obtain these goals it is necessary to provide information on nursing services, to persuade target markets. to remind them about nursing services. and to establish a collaborative relationship with related departments. 4. The tools used to carry out the above functions of promotion in nursing are the providing nursing services, public relations and publicity. QA of nursing, advertising, and sales promotion. 5. The target markets of nursing service include the nursing customer markets. the internal markets, the influence markets. the recruitment markets. the supplier markets. and the nursing referral markets. In conclusion, the concept of promotion in other service marketing areas can be applied to the promotion of nursing service marketing. The promotion of nursing service is more than just effective communication in nursing service. it is the effective use of the concepts of service marketing promotion. Promotion of nursing service will contribute to create and expand nursing services.

• Asia-pacific Journal of Multimedia Services Convergent with Art, Humanities, and Sociology
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• v.8 no.10
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• pp.71-79
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• 2018

The Internet of Things is a technology that makes it possible for objects made up of hardware and software to exchange information with one another via the Internet, thereby facilitating the servitization of the objects. An IoT service, which is composed of an IoT device and a web service, has recently been applied to the marketing field and is being used as a means to meet customer needs. However, applying appropriate marketing elements to IoT services is not easy. Therefore, analysis tools are needed to properly apply marketing elements to IoT services. This study aims to construct an analysis model for marketing evaluation of IoT services. In this study, the technical elements and marketing elements of IoT were derived through a literature review, and the analysis model for marketing evaluation of IoT services was established by exploring the relationship between the elements based on a service blueprint. We also applied real cases to verify the analytical model. This study is expected to contribute to the development of tools for evaluating IoT services.

• The Journal of Information Systems
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• v.16 no.4
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• pp.269-286
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• 2007

Business Incubators(BI) guide starting-up firms through their growth process and as such constitute a strong instrument to promote innovation and entrepreneurship. This study classified the incubating services into communication, physical facilities, human resources, marketing, financial, legal, technology, and networking services. The research problem was tested with data from 103 BI centers and 561 starting-up firms in BI. The results from the survey are as follows: First, incubating services to important for the BI's performance are networking, communication, human resources, physical facilities, and marketing services. Second, the incubating services to satisfy on the firms in the BI are financial, human resources, marketing, communication, networking, and physical facilities services. Third, there are the differences between BI center and the firms in the BI by each incubating service except communication service. Finally, the results of MSEM(Multi-group Structured Equation Modeling) indicate the communication and networking services are more strongly affected to the performance at the BI centers. Vice versa, the marketing and financial services are more strongly affected to the satisfaction at the firms in the BI centers. Starting-up firms in business incubators showed strong desire to receive better support in such fields as marketing and financial services. BI needs to recognize such demand and provide improved services in such areas. Starting-up firms did not recognize the utility and importance of services in networking with other firms and supporting human resources. BI needs to promote services in such areas. Concerning communication services and physical facility support service, both BI and starting-up firms showed satisfactory levels of services.

• The Research Journal of the Costume Culture
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• v.29 no.5
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• pp.706-718
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• 2021

The purpose of this study is to identify the relationship between experience marketing using makeup services and theme park users' satisfaction, loyalty, and revisit intention. This is because it can identify the usefulness of makeup services and provide implications for effective field marketing strategies. In order to achieve the purpose, 668 users of the theme park were surveyed after convenience screening as research participants. The main theme was the makeup service for visitors to Lotte world, Everland, and Hapcheon Ghost theme park. this study reviewed previous studies and applied them to the makeup service. Based on this, the research model and the hypothesis were established, and as part of the empirical research, the hypothesis was verified through analysis methods such as frequency analysis, reliability verification, factor analysis, and structural equation modeling. The summary of the research results based on empirical analysis is as follows. First, as a result of analyzing experience marketing using makeup services has a positive impact on the satisfaction of customers using theme parks. Second, experience marketing using makeup services has a positive effect on customer loyalty. Third, experience marketing using makeup services has a positive effect on intention to return. Fourth, satisfaction and loyalty were found to affect the intention to return. Based on this research, we hope that the makeup service as experiential marketing can be effectively applied in various fields, and that the research can be used as basic data to make the makeup service into the representative cultural contents marketing.

• Journal of Information Technology Services
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• v.7 no.1
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• pp.45-62
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• 2008

This review examines the rapid growth of qualitative and quantitative of telecommunication industry for past couple of years from customer's viewpoint. Most of the telecommunication products were positioned in the market by the businesses and government's support, but the entity of telecommunication products were never interpreted from the user's viewpoint. Even though, various kinds of telecommunication services have been actively discussed by businesses, government, and IT professionals, it has not been sufficiently discussed by the marketing academia where they need to focus a lot on customer's utility. For the purpose of providing an insight of the telecommunication service marketing strategy, this study looked over old and new directions of growth, failure and evolution of services by focusing on two main pillar of communication business, which is high-speed internet and mobile phone service. Additionally, the research explains and mentions the limit and trend of the telecommunication service marketing, and the future research task that needs to be solved.

• Journal of Korean Library and Information Science Society
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• v.23
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• pp.147-182
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• 1995

Marketing technique is used as effective management tool in library. The small size of the user group in special libraries provides good condition for marketing. Special libraries can accomplish the goals and objectives with using marketing technique. The purpose of this study is to examine key concepts and activity procedures of marketing, and marketing mix 4'P, and to suggest the information services which can be used in developing marketing strategies of special libraries. The conclusions are summarized as follows. 1. The key concepts and activity procedure of marketing for libraries consist of market segmentation, positioning, consumer analysis, marketing program and marketing audit. 2. The marketing mix 4P's that can be used in special libraries are examined. 3. The information services which can be used in marketing strategies are suggested.