5.2.2. Goals, objectives and basic principles of banking marketing
The goals and objectives of banking marketing directly stem from the overall goals and objectives of the activities of a particular bank, due to its role and competitive position in the financial services market, the impact of environmental factors, its resource potential, mission, etc.>
Under the mission of an organization, including a bank, its significance is understood for customers, shareholders, the economy of the state, citizens and society as a whole, i.e. justification of its existence and the results of economic and social activities. The mission of the bank is the starting point for the formation of its goals and objectives, the development of strategies and plans. The objectives of the bank's activities reflect specific areas of its work. According to the definition of the bank's mission, they are divided into economic (market) and social. The main objectives of the bank's activities (target system) in the market are shown in Fig. 5.3.
Fig. 5.3. The system of market objectives of the bank
In accordance with and based on the goals and objectives of the bank, marketing goals and objectives are built.
The first major goal of the bank is to achieve the maximum level of satisfaction of customers' demand both in terms of its quantitative parameters (volume and structure) and quality (quality standards of products (services), individual service level, etc.).
The second main marketing goal of a commercial bank is the conquest of a certain market share of banking products (services). It is the indicator of the market share that indicates the competitive position, therefore it is an integral indicator of the success or failure of the bank's market activity.
The growth in market share is also provided by improving the structure of the client base with a constant number of customers due to increased profitability of operations as a result of the complexity of their provision and improving the quality of service for existing customers.
The third significant marketing goal of a commercial bank is the formation and maintenance of the desired image. The marketing component for the implementation of the goal is the creation and maintenance of an effective communication system that allows the bank to constantly interact with these individuals and organizations in order to form the image of the bank's brand as a reliable and attentive customer-oriented partner.
Like the general goals of the bank, marketing goals should be expressed in concrete indicators, measurable, realistic, have a timeliness and consistency of achievement, and also compatible with the marketing goals of structural units (offices, branches, representative offices, etc.) .
To realize these basic marketing goals, the bank needs to solve the following tasks:
o Creation and constant replenishment (improvement) of the database of target customers, competitors, business partners, competitiveness of products (services) provided on the market, structured by adherence of consumers to the bank, volumes and features of the demand, consumer behavior, etc. .
o organization and conduct of marketing research of consumer behavior, the process of demand formation for banking products (services), its forecasting for the planned perspective, consumer requirements for assortment and quality of banking products, their level of satisfaction with the quality of service, consumer evaluations of the bank's brand image, etc. .
o develop based on the results of ongoing studies of the prospective range of products (services) in accordance with the future parameters of demand of target consumers, as well as carrying out activities but increasing their level of satisfaction with the quality of service;
o Development and implementation of the pricing policy of the bank, focused on individual customer service, especially profitable and committed to the bank;
o development and implementation of activities for the distribution of products (services) of the bank, including individual and remote customer service using advanced technologies, means and methods of sales (mobile, Internet banking, etc.);
o Development and implementation of measures to implement the Bank's communication policy in terms of information support for the activities aimed at preserving existing and attracting new customers, improving the quality of their services, creating demand for new products (services), creating and developing the bank's image, etc.
o control over the effectiveness of the bank's activities on the market, including control over the level of satisfaction of target customers with all aspects of interaction with the bank;
o Development of proposals for improving the market activity of the bank for the management of this institution.
In accordance with these basic marketing goals and objectives of the bank, the basic principles of banking marketing are:
o the orientation of all the activities of the bank, including the work of all its units, to meet the demand of target consumers;
o ensuring the timely identification of customer problems and prompt response to changing their demand;
o orientation in the planning, development and sale of products and services of the bank, the formation of price, sales and communication strategies for long-term interaction with each client;
o the transition from the practice of passive adaptation of the bank's management activities to market conditions and the active formation of the demand of each target consumer for new products and services;
o focus on informational and consulting support for existing and potential clients of the bank in the process of making decisions on the choice and use of its products and services;
o the obligation to use the latest information technologies to ensure direct contacts with each client, providing him with full and reliable information, and consulting assistance to effectively meet the demand for products and services of the bank.
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