Every credit organization is interested in attracting more customers, so elaborates bank marketing.Specialists involved in this activity, should investigate the various aspects of market relations in order to make timely changes to the bank's policy.Furthermore, it should start from the desires and requirements of the consumer group.
In fact, bank marketing - a complex of measures, including a step by step action plan, the analysis of financial market conditions, the implementation of a specific program and its further progress.Since the main goal of any commercial bank is making a profit and its maximization, the specialist in the field of marketing is to create conditions that meet the interests of both sides: the credit institutions and customers.
Bank marketing involves the following functions:
- Formation of information base.
- Studying and selection of specific methods and techniques of marketing.
- Development of measures to promote the banking services market.
- a qualitative advertising campaign.
Marketing of banking services based on the development of specific programs to promote a product.Drawing up a strategy includes the study of market needs and opportunities of the credit institution to provide the desired service.Of course, it is necessary to conduct the predictive assessment of the issue of the profitability of the project, which will give grounds for confirming feasibility of its implementation.
considered the most common concepts of leadership, focus and differentiation.If the bank is based on the marketing strategy of leadership in reducing costs, all future activities of the bank is aimed at maximum reduction in the level of costs.Typically, it is used in case of high competition, that is when lenders offer the same type of services in similar conditions.Indeed, in such circumstances, significantly increased demands from customers.Often, the strategy used by large banks to implement large-scale programs of nature.
If the strategy called focusing or concentrating, the bank chooses a separate segment of the market, which is being developed under a particular product.It is expected that expert directs all its attention on the satisfaction of consumer desires a narrow band.As a rule, credit institutions are engaged in search of the segment that is not yet interested in the competition, because then greatly increases the chances of success.A striking example of the concentration of the strategy is the work of the specialized banks.
A third type of strategic approach of the credit institution in opposite of the previous marketing activity and is based on attracting a wide range of client groups.That is a specialist engaged in developing banking product with the same properties and distinctive features that would be equally attractive for all categories of consumers, such as the introduction of a new type of lending.
In our country, bank marketing is evolving and gradual introduction.However, it is worth noting that the development of any program to promote services requires significant investment.That is why many lenders are hesitant to use bank marketing.Public financing can alleviate the situation, but as long as the budget of this is not enough.I would like to mention the problem of the shortage of skilled workers, specializing in marketing.Yet the promotion is, because the banking system is improving every year.
