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| Author: | Edgett, S. Thwaites, D. |
| Title: | The influence of environmental change on the marketing practices of building societies. |
| Journal: | European Journal of Marketing
1990 : VOL. 24:12, p. 35-47 |
| Index terms: | BUILDING SOCIETIES MARKETING STRATEGY BUSINESS ENVIRONMENT UNITED KINGDOM SERVICE MARKETING |
| Language: | eng |
| Abstract: | The marketing environment for the financial services industry in the UK is experiencing a period of rapid change. Increasing competition, new legislation, changing consumer needs, and developing technology are pressuring financial institutions to cultivate more effective marketing departments. A survey was conducted to explore if and how building societies are adapting to the changing environment. Corporate strategy, methods of achieving objectives, and marketing approaches are examined. Major differences exist among building societies, particularly in comparison between the larger and smaller ones. Reactive style in strategy is common in the smaller societies, and they fail to exercise many of the responsibilities of the marketing function. |
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