Banking. Banking marketing and its features. Specifics of the banking product and the conditions for its promotion to the market (the most important)

Lecture notes, cheat sheets
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Banking. Banking marketing and its features. Specifics of the banking product and the conditions for its promotion to the market (the most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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Topic 49. Banking marketing and its features. The specifics of the banking product and the conditions for its promotion to the market

Banking marketing is the search for the bank to use the most profitable markets for banking products, taking into account the real needs of the clientele.

The main task of marketing is to focus the manufacturer on the needs of specific consumers (Marketing lecture notes).

Banking marketing is a financial activity, as a result of which cash flow and types of services are directed from the producer to the consumer, otherwise it is an activity to attract financial resources for specific business entities in the right place, at the right time, at a balanced price. In the conditions of creating a market economy, when the bank’s activities become multilateral, it is necessary to take into account the demand for various banking services (the bank’s performance of the necessary actions in the interests of the client). Such services become paid, which turns the bank into a trading organization. These are not only traditional services for lending, non-cash accounts, cash issuance, but also such as factoring, leasing, trust, consulting, information, etc. Various methods are used to attract clientele and develop services. Based on the method of communicating with clients, banking marketing is divided into:

1) Active marketing is manifested in widespread advertising, the use of communications and communications to popularize banking activities (telemarketing, holding conferences, surveying large groups of the population). It is important that bank employees are interested in the development of such services (material interest). 2) Passive marketing - publication in the press of information about the position of the bank, the benefits of certain of its services, etc.

Bank marketing uses the market and real price of resources. (The real price takes into account the fact that banks must transfer part of their resources to the reserve fund of the Central Bank and therefore it is the market price adjusted for the required reserve ratio).

BANK MARKETING SOLVE THE NEXT. TASKS:

1. Establishment of existing and potential markets for banking services;

2. Selecting specific markets and establishing customer needs;

3. Establishment of long- and short-term goals for the development of new types of services;

4. Introduction of new types of services into practice and control of the bank over the implementation of implementation programs.

To study the markets of banking services and their potential consumers, banks use such techniques as 1) Typology involves identifying consumer groups based on socio-economic and demographic factors. 2) Segmentation involves the division of the market into separate sections, which are characterized by the specifics of supply and demand.

Banks can segment the market according to two principles:

▪ by product (credit, operational, investment, trust services market)

▪ by client (real estate owners, corporations, government market, clients of trust departments)

There are several features by which segmentation can be carried out:

▪ Geographical;

▪ demographic segmentation (social, professional and age composition of the population);

▪ psychological (behavioral);

▪ geodemographic (combines demographic and geographic).

Bank Marketing Goals - identification of internal reserves and potential of the bank. Factors influencing the goals: the requirements of shareholders and shareholders, the internal resources of the bank, the general culture of the bank.

Marketing strategy is the choice of the best ways to achieve the bank's goals by means of marketing. The bank has a hierarchical structure of goals:

▪ long-term goals of the bank (maximization of profit, survival, etc.);

▪ medium-term goals (increase in market share, increase in income in terms of

per share, expansion of the clientele);

▪ short-term goals (return on investment capital assets, staff development).

Authors: Shevchuk D.A., Shevchuk V.A.

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