The bank marketing is a specialized field of the marketing and it has emerged following the extensive development of the general marketing and following the appearance, development, separation, delimitation, deepening and specialization of services marketing. The bank marketing concept evolved following the significant increase in the developed countries of the financial sector and implicitly the banking sector due to the appearance of new competitors, the market overcapacity and the competition intensification.
The bank marketing is "the marketing that applies in the universal banks ’ field (commercial banks as: savings and cooperative banks) and in the specialized banks ’ field (actual credit institutions, investment companies, etc.). Besides the insurance companies and savings institutions for constructions, the banks are the most important offerers on the market of financial services. Today, on the market of bank services, there is a powerful competition, the transparency is more pronounced and the customers have become more critical and less fastidious, being better informed about the monetary and financial issues, but also better advised for this purpose. Therefore, many banks admitted the need to develop and implement professional and efficient bank marketing in the relationship with their own private customers".
In the specialty literature, the bank marketing is also called marketing for services or for immaterial goods. Compared to other services, the banking products are distinguished by the fact that they are complex and abstract . Most of the customers do not easily understand what the financial services consist in, what benefit they bring and how they can be distinguished from one another. [1]
To this we can add the fact that the benefit of a banking service, for example a consultancy for the acquisition of a mortgage loan, for the placement of some shares or a funding for the execution of a construction, is exposed to an external insecurity , more than the other goods. The factors that influence these situations are the following: the evolution of national and world economy and the evolution of banking, monetary and capital markets. The exogenous insecurity and the immateriality generate a very high qualitative insecurity of the banking products for customers. Most of the banking products are mainly integrating , meaning that the customer takes part, more or less actively, in their realization.
For banking services, the specialist Kaas K.P. emphasizes the importance of the customers giving some information about the standard financial data (income and patrimony), about their financial objectives for life planning, about their attitude towards risk , about the intended period of the commitment, etc. in interaction with the bank employees. The immateriality and the abstractization of the banking services lead to the fact that, compared to the offerers of material goods; it is more difficult for a bank to create lasting competition advantages. The innovating products, for example a special savings contract or a chip card, cannot be protected against the competition by patents or property know-how. A bank can create competition advantages by a high quality of the services , customer orientation and customer loyalty development . To that effect, resources are needed which, on short term, are not available to all competitors. Examples to that effect are the customers carefully chosen, formed and motivated to serve the customers in an exceptional manner and also the information systems which allow the bank to optimally adapt its services to customer needs and restrictions . [2]
The contemporary specialty literature shows numerous definitions of the bank marketing, more or less different, on the one hand due to the development level of the banking market and of the economy in the author’s origin country and on the other hand due to the viewpoint in which the concept has been approached and perceived. The English specialists C. Ennew, T. Watkins and M. Wright, in their writing "Marketing Financial Services", considered that the bank marketing concept implies “ the achievement of the bank objectives by establishing the needs and wishes of the target customers and the supply of the needed satisfaction in a more efficient manner than their competitors". Another Belgian specialist Claessens R., in his writing "Marketing of retail banking products" stated that "The banks should identify the future needs and wishes of the customers and should use their own services and distribution channels in order to efficiently develop the integrated marketing concept on long term".
By : Firda Afwa Arifiana (11220011)
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