ABSTRACT
This chapter addresses the issues surrounding the development of an effective communication strategy in financial services. It provides an overview of the mechanisms by which communications work. The chapter examines the development of promotion campaigns. It discusses the relative merits of different forms of promotion and also discusses the role of new media. The importance of corporate image and organisational branding is dexcribed. The chapter explains some of the more important methods of promotion in greater detail and highlights their strengths and weaknesses. Communications and promotions for financial services are very similar to promoting physical products in many respects. Communications play a key role in ensuring that the chosen position is presented to the target market in a way that is aligned with all other elements of the marketing mix. As an element of the marketing mix, communication and promotion includes tools such as advertising, publicity/public relations, personal selling sales promotion and direct marketing.
