Banking Management System
The rapid development of competition in the banking services market improves the quality of customer service and the provision of new services, and accelerates the transition from the traditional way of doing business to a client-oriented or marketing-oriented business. The process of converting banking sales markets into buyer's markets and focusing on the needs of consumers leads Russian banking institutions to the need to change the ideology and organization of banking management, including the marketing management system.
As the basic for building a marketing management system for banking services, consider the "4P" approach.
In accordance with this approach, the success factors in marketing can be divided into four groups: place, product, price, promotion. The names of all groups of factors in English begin with the letter "P", which leads to the name of the model - "4P".
1. Place ( Place ) - the system and distribution environment that the bank chooses to bring its services to the consumer. The most important work at this stage is segmentation of the market, finding free, most promising market niches for the development of banking activities.
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2. Product ( Product ) is an assortment of banking services that is as complete and convenient as possible from the point of view of meeting the needs of customers. At this stage, it is necessary to pay increased attention to the continuous development of banking services, both in terms of their quantity and quality position.
3. Price ( Price ) is the general pricing policy of the bank, as well as the prices of individual services of the bank. Currently, more is being said about the psychological component in pricing.
4. Promotion ( Promotion ) is the combination of both advertising media and means of promoting the bank's services, creating an optimal image of the bank.
From the positions of the & quot; 4P & quot; to achieve success in the market, the bank needs a certain range of services to be presented on the target market segment at the optimal price with the necessary level of advertising support.
Currently, the & quot; 4P & quot; often add new groups of parameters, such as:
- People ( people ) are people, employees of the bank who are directly involved in the development and implementation of banking services to consumers, as well as all other employees supporting the bank's marketing work>
- the environment ( physical premises ) - the environment, the environment that is created for the customer, is an important link in the overall product offered to the consumer.
Model & quot; 4P & quot; consists of three levels and can be applied by any manufacturer, including the bank. First level - buyers, customers. Increasing their number is the goal of any bank and marketing in general. The bank exists when its products and services find their customers, who are willing to pay money for them. Second level - a combination of resources and costs, performance indicators and business activity of the bank. For analysis at each level, it is necessary to build models and, through various economic, mathematical and statistical methods, direct the development of the bank and exercise control. Third level are external factors that a bank can not change and control, to which it must adapt in the course of its activity.
The process of marketing management in a commercial bank consists of several areas. Allocate four stages of the marketing management process, each of which includes several elements.
Stage 1. Analysis of market opportunities:
- systems of marketing research;
- marketing information;
- marketing environment;
- the retail market;
- the wholesale market.
Stage 2. Selection of target markets:
- study of demand;
- Segmentation of the market;
- selection of target segments;
- product positioning on the market.
Stage 3. Development of a marketing mix:
- product development;
- methods of distribution of goods;
- stimulating the sale of goods.
Stage 4. Implementation of marketing activities:
- development of marketing strategy;
- marketing control.
So, today marketing becomes one of the most important concepts of bank management. It is used to improve the effectiveness of the management system, allows you to make long-term and short-term development programs, develop banking products, respond more quickly to changes in the banking services market, and creates competitive advantages.
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