ABSTRACT
Product and market context exert a signifi cant infl uence on the nature and practice of marketing. Marketing activities that are effective for fast-moving consumer goods may be wholly inappropriate when marketing fi ne art. What works in Canada may be ineffective in China. Accordingly an understanding of context is essential in order to understand the practice of marketing. Nowhere is this more evident than in the fi nancial services sector. Social, political, economic and institutional factors create a complex context in which fi nancial services organisations (FSOs) and their customers interact, and, of course, these in turn may vary considerably across countries. All too often, discussions of marketing practice fail to recognise the importance of explaining and understanding these contextual infl uences. The purpose of this current chapter is to provide an overview of the context in which fi nancial services are marketed and to explain the economic signifi cance of the sector.
