Financial Services Marketing, 2nd Edition

10  Product management

Learning objectives

At the end of this chapter you should be able to:

•  explain the nature of financial services products;

•  explain the operation of key Islamic financial services;

•  outline the issues influencing product policy;

•  provide an overview of issues relating to the management of existing products;

•  develop an understanding of the implications of the product life cycle concept for the marketing mix;

•  outline the issues associated with the development of new products.

10.1 Introduction

The product is fundamental to any marketing activity since it is through the use of product that a customer experiences enjoyment and receives value. Clearly, a product which does not offer what consumers want at a price ...