7.10 Marketing and the wider industry context

Question 1

Factors within context of financial services industry as a whole that have an impact on marketing done by providers:

Answer 1

• Reputation of sector
• Competition and new entrants
• Society’s expectations

Question 2

Sir Richard Lambert was announced as the interim leader of the Banking Standards Review Council (BSRC) which does what?

Answer 2

Raises standards in the banking industry

Question 3

What was the BSRC renamed as?

Answer 3

The Banking Standards Board

Question 4

How does the Banking Standards Board raise standards in the banking industry?

Answer 4

By publishing an annual report detailing bank successes and failures, as a way of sharing good practice

Question 5

Who is the BSB funded by?

Answer 5

The banks

Question 6

Does the BSB have sanctioning powers?

Answer 6

No

Question 7

What does Handelsbanken specialise in?

Answer 7

Personalised banking services to both corporate and individual customers

Question 8

How have large providers responded to expectations of a stakeholder approach?

Answer 8

By devising CSR, citizenship and sustainability policies