Marketing of Innovative Financial Products By Private Pakistani Banks

Abstract

The research study focused on the analysis of innovative financial products and their features introduced by the commercial banks . For detailed study and analysis , a sample of five banks was selected with regard to the rate of interest , security charges , repayment plan, cost of processing , security and any other collateral required , and procedures and paperwork involved , and the after sales service. A sample of 100 existing and prospective clients was selected and the questionnaire (9 items) was distributed . The response was 1 00%. The analysis of the responses received showed that Union Bank , followed by Bank AL-Fa lah , was leading others in offering more attractive features of their products . Therefore they generated higher level of sales and clientele . Other Banks in the field can learn a few good lessons of strategic marketing from these leaders .