Basically Financial information do play a very important role in the marketing strategy formulation but the intensity of the role can vary from company to company. As you have specifically asked about the Financial institutions, therefore, I would be very specific in my argument!
Like other companies, in a financial institution marketing strategy is developed based on the needs assessment of the company. Now there are various departments in a financial institution like bank and if the sales of loan department lowers as compare to consumer banking department, then obviously after the financial assessment, bank will try to formulate a new marketing strategy for loan department. In this way financial information can help in developing the marketing strategies in an organization.
Like other companies, in a financial institution marketing strategy is developed based on the needs assessment of the company. Now there are various departments in a financial institution like bank and if the sales of loan department lowers as compare to consumer banking department, then obviously after the financial assessment, bank will try to formulate a new marketing strategy for loan department. In this way financial information can help in developing the marketing strategies in an organization.
