Introduction
The purpose of this term paper is to show why women are an attractive target group for the German financial services industry, and if banks should introduce Lady Banking as a new marketing concept for this target group. Up to now, the majority of the financial service providers have focused on many different target groups, for instance, senior citizens, young people and entrepreneurs. Only few banks, however, like the Stadtsparkasse Augsburg and the Sparkasse Heidelberg, have introduced Lady Banking as well. First, I will describe the social development in Germany in the last decades. Next, the economic significance of the target group women will be emphasized. Subsequently, some differences between women and men concerning their financial behaviour will be presented, and after that, the consequences of the target group women for banks will be shown. Finally, a conclusion will give an overview of the present situation and the future prospects of Lady Banking in the financial services industry.
Inhaltsverzeichnis (Table of Contents)
- Introduction
- Social Development
- Economic Significance
- Differences between Women and Men
- Consequences for Banks
Zielsetzung und Themenschwerpunkte (Objectives and Key Themes)
This term paper aims to explore the potential of women as a target group for the German financial services industry and assess the feasibility of introducing Lady Banking as a new marketing concept. The paper will analyze the social development of women in Germany, their increasing economic significance, and the differences in their financial behavior compared to men. The paper will also explore the consequences of these factors for banks and discuss the potential benefits of tailoring services to meet the specific needs of female customers.
- The changing social landscape of women in Germany
- The significant economic power of women in the German market
- The unique financial behavior of women compared to men
- The implications of these factors for the banking industry
- The potential for Lady Banking to attract and retain female customers
Zusammenfassung der Kapitel (Chapter Summaries)
- Introduction: This chapter introduces the topic of Lady Banking and outlines the paper's objectives. It establishes the context by highlighting the focus of the financial services industry on diverse target groups, while also acknowledging the emerging trend of banks offering specialized services for women.
- Social Development: This chapter explores the social changes that have impacted women in Germany over the past decades. It highlights the rise of women's independence and self-confidence, their increased access to education and employment, and the evolution of family structures. The chapter emphasizes the significant influence of these developments on women's lives and their evolving roles in society.
- Economic Significance: This chapter examines the economic power of women in Germany. It emphasizes their role as primary decision-makers in consumer spending and household budgeting, highlighting their influence on various sectors, including automotive and investment markets. The chapter also acknowledges the gender pay gap and its impact on women's financial resources and long-term financial security.
- Differences between Women and Men: This chapter delves into the distinct financial behaviors of women and men. It highlights women's preferences for secure investments, their emphasis on financial security and autonomy, and their communication styles in financial contexts. The chapter compares women's approach to financial decision-making, which often involves seeking opinions and building relationships, with men's tendency for a more direct, data-driven approach.
- Consequences for Banks: This chapter examines the implications of the social and economic trends discussed in previous chapters for the banking industry. It emphasizes the growing need for banks to cater to the unique needs and preferences of female customers. The chapter explores the potential of a phases-of-life-oriented consultation approach that acknowledges women's diverse life stages and their changing financial needs.
Schlüsselwörter (Keywords)
Lady Banking, women's target group, financial services industry, social development, economic significance, financial behavior, gender differences, consultation, customer needs, marketing, market potential, competition, German financial market.
- Citar trabajo
- Birgit Herrmann (Autor), 2011, Lady Banking. Women as Target Group for Financial Services, Múnich, GRIN Verlag, https://www.grin.com/document/179761
