West Ham Cockney Boys


    Financial "Products"

    SemiOldIron
    SemiOldIron
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    Post  SemiOldIron on Sun 28 Jul 2013, 11:35 am

    Maybe it's just me, but I really get pissed off by banks, insurance companies and financial institutions referring to what they offer as "products". A product is something - something real - that you produce, like a tin of beans or a lawn mower or a pair of trousers. What these people offer are financial arrangements or agreements, and some have proper names like "policies" or "mortgages" or " pension schemes" which don't seem to get used now, everything is a "product".

    Seems to me  that these people want us to think that they are actually making something useful, rather than just gambling with other peoples money.

    Is it just me?? Am I the only one shouting at the telly or the radio " IT'S NOT A FUPPIN 'PRODUCT YOU TWAT!!" ??Telling
    Jiggs
    Jiggs
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    Post  Jiggs on Sun 28 Jul 2013, 11:31 pm

    Not just you Semi.  I was glad when their PPI "product" went tits up for them though. Laughing


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    Campo
    Campo
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    Post  Campo on Mon 29 Jul 2013, 10:31 am

    Gets on my tits too, I work in IT, we provide a service not a product
    Stooby Doo 2002
    Stooby Doo 2002
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    Post  Stooby Doo 2002 on Sat 03 Aug 2013, 5:47 pm

    Something I learned in my degree which could clarify this is that whilst it is true that a product is something which has been made by man or machine in the manufacturing process there are other uses for the word........In marketing we learned that actually a product is ANYTHING which can be offered to the market to satisfy a want or need. This would explain the financial retailers using PPI as a product in the marketing process. If you think about it the banks provide the service not the policy itself as a result the PPI is a by product of the service the banks offer. It's only after the marketing process when you go into retailing that products are then thought of as a physical entity.

    In the financial world the contracts that have been created and drawn up are essentially a product because they have been thought about, written, legally checked and have been put on the market for people to buy.....It's not the PPI itself I have a problem with as I think during an economic downturn a lot of people probably wished they had PPI when companies started going bust, but as usual it's the banks which take the piss by mis-selling what is a handy tool for those people that feel they want a bit of added protection!

    At the end of the day a product can be a physical entity or a non physical entity, photographs that people sell are essentially products and so are mp3s all of which aren't physicaly there you just download them yet are still products......Microsoft windows is a physical product if you have it on disc, yet download it and it becomes a non physical product.....Therefore it need not have a presence (Of which at least with PPI you can have a document) to be classed as a product.

    But I appreciate the rant!
    Stevenage Dave
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    Post  Stevenage Dave on Mon 05 Aug 2013, 10:44 pm

    It's like when the railways started calling us customers instead of passengers; we gave them our custom by buying a ticket, but they can't guarantee providing us with passage anywhere...
    Suzanne Claret
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    Post  Suzanne Claret on Wed 07 Aug 2013, 3:48 pm

    I'm supposed to refer to the students as clients.

    Sod that nope

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