Friday 16 January 2015

The difficult thing about Pension Marketing-Odunze Reginald C




Pension is the regular sum of money from the state or a former employer after employee’s retirement from service, having put in for a period of 35 years or having attained the mandatory age of 60 years or as a result of disablement or illness.  Pension may be monthly bimonthly or quarterly.
Pension falls into financial services, other financial services include banks, (loans and credit) mortgages, development houses, discount houses, etc. the list can be endless.
There are about characteristics of services, according to Anyanwu (1993), they are as follow:
They are intangible
They are simultaneously produced and consumed
Distinct channel of distribution
Heterogeneous in nature
Lack of inventory
These characteristics of services according to Anyanwu (1993:181) implies that services varies in relation to the supplier, and I will add that even within a supplier, it varies from branches to the other. Continuing he stated that it is very difficult to standardize services due to the elements involved.
Services cannot be stored and as such it is perishable. The way and manner Mr. A attend and deliver his speech or selling points to a customer may be different from Mr. B.
 The varying nature is what creates difficult coupled with the human nature that varies from individual to individual makes it exceedingly difficult to quantify the service delivery of the pension fund administrator.


Culled from reginaldodunze.blogspot.com

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