Australia was the only developed country to avoid a technical recession
during the 2008 global financial crisis, but ten years later, Australian
banks now must deal with allegations of misconduct which warrants
establishing a royal commission into the financial sector. This
conceptual paper offers a theoretical and managerial exploration of the
implications of the commission's findings on the Australian banks, their
marketing and brand crisis management. This paper reviews the literature
on trust repair, brand reputation and financial services marketing
management to identify relevant research agenda and managerial
implications. A series of propositions are put forward towards academic
researchers -- to theoretically explore these emerging issues as
presented in the research agenda and offer actionable insights and
Managers -- to consider the identified managerial agenda as they deal
with consequences of the commission's findings which includes trust
repair, brand reputation and marketing management. This study had made
an initial effort to chart the course for the scholarly understanding of
the consequences of the Royal Commission on Australian banks marketing.
By this, the academic research community can assist managers in
developing effective marketing strategies. Researchers seeking to work
on the agendas put forward in this paper would be able to gain links
with and possibly attract funding from, banks to conduct their research.
There is a shortage of knowledge around this subject, as it is an
evolving situation within the Australian financial sector. These
conceptual paper raises an agenda to fill the gap in knowledge and
provide empirical insight for academic researchers and practitioners.