The role of marketing in non-state pension fund financial strategizing

The urgency of nongovernmental pension fund's financial strategy considering is connected with the incompleteness in reforming of the national pension system. Questions of pensionary age increasing and substitution factor reducing determine the importance of successful pension institution functioning. The latter, in its turn, depends on the efficiency of the financial strategy developed by the fund. A number of scientists investigated various aspects of pension system functioning and development: G.R. Comans, E. Whitehouse, S.V. Brovchak, M. Borisenko, E.Sh. Gontmakher, N.Y. Gorjunov, R.M. Nureyev, E.M. Chetyrkin and others. Strategical financial management is discussed in the works of I. Ansoff, J.K. Van Horne, P. Vigor, P.F. Drucker, G. Day, R. Kaplan, D. Norton, M. Porter, A.J. Strickland, F. Taylor, L. Abalkin, V.B. Akulov, M.M. Alekseev, I.A. Blanc, V.V. Kovalev and others. The theoretical basis proves that practical examples need more attention for real activity of the pension sector. Critical analysis and synthesis of information related to the pension market looks perspective if practiced by pension funds. Conclusions are important based on statistics, attendant financial information, financial results of pension funds, published reports, current legislation and perspective of its reforming, and, at last, domestic and foreign sectors comparison. All this is essential for practice and may be useful if considered and realized by managers. The article discusses the role of marketing in matters relating to financial strategizing in a nongovernmental pension fund. In the first part the author shows a theoretical preamble devoted to describing scientific views on marketing and financial strategies and their correlation. This views are based on the scientific information from thematic articles. The following part illustrates the pension sector development scale in the Russian Federation, confirming the importance of marketing activities to attract consumers. In the next section the author compares the largest domestic private non-state pension fund, determines images created by funds. Comparison data are summarized by the author in the scale, and supported by analytical resumes. After the scale there are data of market transactions in the pension sector. The scientific novelty of this article includes using a comparative analysis of the existing non-state pension funds to identify competitive advantages of market participants in generating and realization of a marketing strategy.

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