Misselling of financial goods and services
Marketing of financial products actually determines the sole objective of any company ----PROFIT.
Sales and Marketing have narrow difference but in reality there is a vast one. Successful marketing is always followed by successful sales and not the other way round. Marketing actually promotes the product and proper sales hit actually fulfills -
The desired result- Profit.
My point revolves around this approach of every financial company we come across fortunately or unfortunately. We all are experienced with the telesales executives calling up always at the wrong time, wrong place. But what about the products we have gulped up actually of no use or not at all required. The useless plastic money you own and burdened under the debt of it which otherwise couldn’t have tempted you on the spending spree. Have given a thought about the premium you pay which initially looked lucrative but now that you realize it as a blunderous thing to do and that it does not match your requirement at all. All this actually happened to you or any body among us because of the sales pitch of the financial agents we generally succumb to. Instead of proper guidance they end up selling products of their revenue generation and also due to the sales pressure they face but we actually face the heat. Classic example in this regard can be loans which get approved which actually costs us a lot of invisible interest charges and hidden costs adhered to it. The proper lack of communication on the part of the sellers or the lack of interest to do so actually costs us quite dear. After a lot of hazard even if we end up with a counselor who may actually help us, a lot has been over never mind your quite a handsome amount of hard earned money has indirectly been robbed already.
With due respect to all it needs mention that we need to assess our need by ourselves at first hand before moving to a counselor which can always be better than to succumb to lucrative offer to grab on without actually examining the real purpose of the product or service. Hence we all should atleast look into the offer document of any financial product before doing anything—
It’s always better to look before you leap………………..!!
Thanks
Pamela
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