Marketing Planning of Financial Services

Market planning cuts across departmental and functional boundaries, differing cultural and divisional demarcation lines, but maintains a central point common to all areas: the acceptance that the customer is the sole and final judge, the product expert. Hierarchy must be kept out of market planning; it should gather the experience of many managers and articulate this within a new culture developed from the lowest possible level. Product and market champions need to be given room, encouraged to form teams and produce strategies based on a limited number of market segments and a few chosen target competitors, in order to keep strategic plans as simple as possible.