C/M/108. E-marketing of financial services: relationship approach

This paper reviews the unique features of new communication media and the way it have shifted the balance of bargaining power on the market of financial service products. Through the wide range of theoretical and empirical arguments the paper builds the logical bridge between the new business requirements and the importance of developing relationship marketing perspective. To support this logical chain the paper reviews the advantages of new approach for financial service providers against transaction approach. Further on, the paper discusses the way relationship marketing concept is currently applied by financial service providers, especially in the recently emerged electronic business area. The aim of this paper is to explore the critical success requirements that shall be considered when developing e-relationship marketing strategy. The aim arises from the understanding of the strategic importance of new marketing tools in contemporary marketing environment. It seeks to explore the way new media may be perceived by consumers and what efforts shall be undertaken by marketers in order to develop strengths and reduce weaknesses of new media. This aim would be fulfilled through the secondary research.