New Strategies for Financial Services Firms The Life-Cycle-Solution Approach
General Material Designation
[Book]
First Statement of Responsibility
by Dennis Kundisch.
.PUBLICATION, DISTRIBUTION, ETC
Place of Publication, Distribution, etc.
Heidelberg Physica-Verlag HD Imprint
Name of Publisher, Distributor, etc.
Physica
Date of Publication, Distribution, etc.
2003
PHYSICAL DESCRIPTION
Specific Material Designation and Extent of Item
(XIV, 206 Seiten 20 Illustrationen)
SERIES
Series Title
Information Age Economy
CONTENTS NOTE
Text of Note
1 Introduction.- 1.1 Motivation.- 1.2 Problem Statement.- 1.3 Delimitation.- 1.4 Outline.- 2 Definitions.- 2.1 Financial Services and Financial Products.- 2.2 Financial Services Providers, Markets and Organizations.- 2.3 Financial Problem, Individualization, and Customer Relationship Management.- 3 Mega Trends in the Financial Services Industry.- 3.1 Regulation.- 3.2 Society Changes.- 3.3 Working Life Conditions.- 3.4 New Quality in Communication.- 3.4.1 Overview.- 3.4.2 Increasing Market Efficiency.- 3.4.2.1 Literature Review.- 3.4.2.2 Search Cost Model.- 3.4.2.3 Model and Its Assumptions.- 3.4.2.4 Sequential Search.- 3.4.2.5 Simultaneous Search.- 3.4.2.6 Combined Approach.- 3.4.2.7 Excursus: Simultaneous Search in the German Financial Services Market - Status Quo.- 3.4.2.8 Extensions of the Basic Search Cost Model.- 3.4.2.9 Limitations of the Analysis.- 3.4.2.10 Conclusion.- 3.5 Summary.- 4 Strategic Options.- 4.1 Cost Leadership: Mergers and Acquisitions.- 4.2 Differentiation: Life-Cycle Solution Provision.- 5 Life-Cycle Solution Provision.- 5.1 Vision.- 5.2 Strategy.- 5.2.1 One-Stop Shop Solution Provider.- 5.2.2 Individualization.- 5.2.3 Strategy of Choice.- 5.2.4 Multi-Channel Approach.- 5.2.5 Life-Cycle Consultation Approach.- 5.2.6 Customer Lifetime Value.- 5.2.7 Pricing: Business Model.- 5.3 Summary.- 6 Concepts for Life-Cycle Solution Provision.- 6.1 Research Framework.- 6.2 Content Model.- 6.2.1 Methods.- 6.2.2 Right Content.- 6.2.3 Right Time and Right Channel.- 6.2.3.1 Classification Sub-Layer.- 6.2.3.2 Channel-Selection-Sub-Layer.- 6.2.3.3 Content-Adaptation-Sub-Layer.- 6.2.3.4 Relevant Attributes.- 6.2.4 Application.- 6.2.4.1 Implementation Vision.- 6.2.4.2 Practical Experience and Implementation at Deutsche Bank.- 6.2.5 Limitations and Prospects for Further Research.- 6.2.6 Conclusion.- 6.3 Product Model.- 6.3.1 Introduction.- 6.3.2 Problem Solution Process in Financial Planning.- 6.3.3 Assumptions.- 6.3.4 Model under Certainty.- 6.3.4.1 The Financial Problem.- 6.3.4.2 Formulation and Solution of Residual Problems.- 6.3.5 Model under Uncertainty.- 6.3.5.1 The Financial Problem.- 6.3.5.2 Formulation and Solution of Residual Problems.- 6.3.6 Model under Risk.- 6.3.6.1 The Financial Problem.- 6.3.6.2 Formulation and Solution of Residual Problems.- 6.3.7 Selection of a Superior Solution.- 6.3.7.1 Superior Solutions under Certainty.- 6.3.7.2 Superior Solutions under Uncertainty.- 6.3.7.3 Superior Solutions under Risk.- 6.3.8 Discussion.- 6.3.9 Limitations and Prospects for Further Research.- 6.3.10 Conclusion.- 6.4 Summary.- 7 Outlook: The Importance of Trust.- 7.1 Introduction.- 7.2 CRM Strategies and Underlying Assumptions.- 7.3 Trust as a Vital Component of Switching Costs.- 7.3.1 Customer Loyalty in the Financial Services Industry.- 7.3.2 PDE-Services and the Infomediary Approach.- 7.3.3 The Concept of Trust.- 7.4 Special Characteristics of Financial Services.- 7.5 Effects on CRM Strategies for Financial Services Providers.- 7.6 Summary.- 8 Summary and Outlook.- 8.1 Conclusion.- 8.2 Prospects for Further Research.- List of Abbreviations.- List of Figures.- List of Tables.- References.