Marketing of Financial Services: A Case Study of Indian Home Loan Market

Abstract

Financial services are introduced to be one of the significant business outputs that pose special challenges to market them. Few of them include intangibility, inseparability, limited differentiation, and fiduciary responsibility. Contribution of financial services towards escalation of varied segments of the economy is immense. Considering this backdrop, the present study at the outset aims atunderstandingdifferent characteristics of financial services and examines diverse challenges encountered in marketing them. An attempt is made to indicate pragmatictechniques in order to overcome the visible challenges. The study is being intensified with a special focus on present home loans scenario in India. The methodology adopted here is based on the secondary sources of information along with a semi-structured primary investigation carried out for the purpose. The same goes through a review ofselected research studiesundergone at various levels. Findings reveal housing shortages that eventually indicates problems faced by the home loan borrowers. The study concludes with an insight on conceptualizing actualneedofa potential customer who is deprived of a shelter. i.e. a sweet home.