Finance and Mortgage Broking: Analyzing Products and Strategies

This assignment delves into the intricacies of finance and mortgage broking, covering a range of essential topics. It begins with an analysis of financial products using comparison websites, highlighting their limitations and benefits. The assignment then differentiates between credit and debit cards, exploring their respective advantages and applications within businesses. A comparative analysis of top banks and their competitive products follows, alongside a discussion on customer segmentation strategies and effective marketing approaches. Furthermore, the assignment addresses the importance of adhering to advertising regulations set by ASIC and implementing ethical practices in consultative selling. Finally, it examines the benefits of cross-selling techniques for financial institutions, emphasizing the alignment of customer characteristics and organizational needs. Desklib offers this and many other solved assignments to aid students in their learning.

Finance and Mortgage
Broking

ACTIVITY 1
Answer:
In order to get the details regarding the financial products using comparison website is
considered to be good option as allow deriving significant insights. The one of the significant
limitation is obtaining of distinct information that can make confuse, time-consuming process,
no surety of data, etc (Buzałek and Czechowska, 2021). The system involves information given
by commercial, investment, financial banks, cooperative society, etc. There are few other
agencies websites as well that gives detail of financial products' benefits, drawbacks, substitutes,
etc.
ACTIVITY 2
Answer:
There is huge difference between credit & debit card which provides distinct benefits and
limit ions. Credit card allow user to use fund to certain extent and pay back with interest to the
financial institution (Rodríguez‐Planas, 2018). It has standard cost, premium, reward, balanced,
secured & charge cards. On the other side, debit card refers to deducting money directing from
consumer account and has electronic benefits, prepaid debt cards, etc. the products and service
use by company involves using both type of product for the purpose of achieving higher
profitability.
ACTIVITY 3
Answer:
The top four banks involve imb bank, National Australian Bank (NAB), Beyond bank,
AMP bank Ltd. Beyond bank offers the home low at lowest interest as compared to the other
organization. The other competitive products offer by companies involves giving higher level of
convenience in repaying back the loan borrowed (Sivesind, 2019). It comprises business
banking, financial planning, personal loans, etc
ACTIVITY 4
Answer:
Segmentation of the customer by financial broker is done on the basis of demographic, m
psycho graphic, behavioral and segmentation. The one of the most attractive segment for making
higher sales is behavioral tactic possessing clients such as higher attitude to invest, risk taking
ability, etc (Ampofo, 2020) the different kinds of marketing and promotional approach involves
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financial website, television advertisement, newspaper, magazine, etc which are highly looked
by investors.
ACTIVITY 5
Answer:
It involves adhering to the rule that there would not be involvement of any misleading
and immaterial information in marketing & promotional activities. ASIC has few powers such as
RG 234 24, 25, etc which shows compliance with the good adverting and promotional activities
(Udoka and Kpataene, 2017). In the organizational policy there is proper adherence to give fair,
relevant, reliable, disclosure of terms & condition, benefits, etc about the product. It can be
applying policies that focus on product, price, etc elements.
ACTIVITY 6
Answer:
For having proper consultative selling organization can pay attention on having
implementation of ethical & regulatory condition (Owusu-Manu and et.al., 2018). There should
be involvement of giving accurate details of product's features, limitations, emphasis on
consumer protecting act, being transparent, ensuring proper utilization of data privacy,
minimizing risk etc. These can contribute in having proper implementation of promotional and
advertising activities.
ACTIVITY 7
Answer:
There are several benefits of cross selling technique which can be obtained by financial
institutions such as enhancing customer experience with organization. It permits to incline the
customer & retention of existing, enabling them to share opinion, etc (Korolev and Wang, 2021).
The general client characteristic involves accurate information, etc. and the organizational needs
are higher sustainability, profitability, etc.
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REFERENCES
Books and Journals
Ampofo, J.A., 2020. The nature of mortgage repayment plans in Ghana. Finance & Accounting
Research Journal. 2(3). pp.91-104.
Buzałek, P. and Czechowska, I.D., 2021. Effect of Capital Conversion in the Form of a Reverse
Mortgage on Benefits for Senior Citizens in Major Cities of Poland. Finanse i Prawo
Finansowe, pp.51-66.
Korolev, M.Y. and Wang, W., 2021. COMPARATIVE STUDY OF MORTGAGE SYSTEM IN
CHINA AND RUSSIA. Человек. Социум. Общество. (1). pp.62-69.
Owusu-Manu, D., and et.al., 2018. Determinants of mortgage price affordability: a study of
Ghana. International Journal of Housing Markets and Analysis.
Rodríguez‐Planas, N., 2018. Mortgage finance and culture. Journal of Regional Science. 58(4).
pp.786-821.
Sivesind, C.M., 2019. Mortgage-backed securities: The revolution in real estate finance. In
Housing and the New Financial Markets (pp. 311-326). Routledge.
Udoka, C.O. and Kpataene, M., 2017. Mortgage financing and housing development in Nigeria.
International Journal of Research-Granthaalayah. 5(5). pp.182-206.
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