1.Identify and review some of the strategies which the company uses to Essay

1.Identify and review some of the strategies which the company uses to deal with the difficulties presented by the specific features of financial services marketing - Essay Example The researcher is taking American International Group Inc. which is a U.S.A. based company for reviewing their products and strategies. In this paper the researcher is trying to identify the strategies which they use to deal with the difficulties presented by the features of marketing of financial services. The researcher will use the website of AIG and some journals for analyze the strategies of the company. American International group which is a financial services company constitutes of different business units. These are AIG Bank, AIG Direct, SunAmerica financial group, Chartis insurance, United Guaranty Corporation and International Lease Finance Corporation. The main revenue of the company is from the Chartis insurance which is major name in the global insurance sector. SunAmerica financial group is the other which generates maximum revenue for the AIG group. From this statistics it can be said that the company is mainly focusing on the life insurance, general insurance, wealth management, asset management programs. It can also be said statistics that the major percentage of revenue comes from the casualty and specialty line of business. In any type of industry the companies should design and offer the product or services according to the customer needs. Financial services industry is a volatile industry. During the economic downturn the companies generally don’t profit much from the financial services. The reputation of the companies plays a big role in that situation. If the financial services companies provide the products according to the needs of the customers and build customer loyalty then they will have a competitive edge than their competitors. For having a good percentage of market shares as well as retaining the customers in time of financial downturn a loyal customer base is necessary for the financial services company (The Economist, 2008, p.5-7). The services