Challenges Facing Financial Institutions in Marketing their Products

The proliferation of assorted bank products, bank products and bank services in the country has led to cut throat competition for increased market share being witnessed among the operators in the banking industry. When competition is keen Bank customers are faced with product choice in the market, it becomes imperative for the bankers to understand the major factors that can attract the attention of customers to their own product, marketing of their key products take center stage. These then form the basis for marketing planning and action hence the study of the challenges facing the financial institutions in marketing their products. The study will assist Barclay bank to examine the effect of various the marketing strategies they apply to increase the customer preference of the product also find out the reason why Barclay Bank customers choose certain product as per the prevailing circumstances. Examine the influence of financial service marketing on customers product choice, the study was guided by the following objectives to Determine the influence of age on bank product choice and Establish the position and segment of financial institutions in marketing their products.