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Marketing inclusive banking services to financially vulnerable consumers: a service design approach

Isaac Ofori-Okyere (Department of Marketing and Strategy, Takoradi Technical University, Takoradi, Ghana)
Farag Edghiem (Institute of Management, University of Bolton, Bolton, UK)
Seyram Pearl Kumah (Department of Accounting, Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development, South Africa)

Journal of Services Marketing

ISSN: 0887-6045

Article publication date: 9 September 2022

Issue publication date: 15 February 2023




To explore how inclusive banking services are marketed to financially vulnerable consumers (FVCs) in Ghana from the perspective of managers. This study aims to explore this under-researched area and contribute towards a transformative service research in the country.


This study adopted a multiple case study research approach to analyse six banks, including commercial, development, investment and rural and community banks. Specifically, semi-structured interviews and archival documents were used to collect data from the perspectives of bank managers.


The empirical research based on practical and theoretical models shows that Ghanaian banks design an array of financial products and services (FPS), adopt innovative traditional marketing strategies and apply inclusive technologies to reach out to the FVCs.

Research limitations/implications

The authors conducted this study on six banks in Ghana; thus, service researchers are cautioned when generalising the findings and conclusions in other contexts beyond the country of focus.

Practical implications

This study offers practical ideas to guide marketers to better understand how banks market their inclusive banking services to FVCs.

Social implications

This paper provides implications for addressing financial inclusion amongst the “unbanked”, “underserved” and “unserved” collectively known as the FVCs and how Ghanaian banks design FPS to improve service research and well-being outcomes.


This study provides vital information to policymakers in designing FPS aimed at achieving an inclusive financial system to improve the well-being of FVCs in Ghana.



Ofori-Okyere, I., Edghiem, F. and Kumah, S.P. (2023), "Marketing inclusive banking services to financially vulnerable consumers: a service design approach", Journal of Services Marketing, Vol. 37 No. 2, pp. 232-247.



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