Service Marketing in Banking Sector.
SERVICE MARKETING IN BANKING SECTOR AND
RECENT PERCEPTIONS IN MARKETING THOUGHTS OF SERVICES
MARKETING IN BANKING
Marketing approach in banking sector had taken significance after 1950 in western countries and then after 1980 in Turkey. New banking perceptiveness oriented toward market had influenced banks to create new market. Banks had started to perform marketing and planning techniques in banking in order to be able to offer their new services efficiently. Marketing scope in banking sector should be considered under the service marketing framework. Performed marketing strategy is the case which is determination of the place of financial institutions on customers’ mind. Bank marketing does not only include service selling of the bank but also is the function which gets personality and image for bank on its customers’ mind. On the other hand, financial marketing is the function which relates uncongenitalies, differences and non similar applications between financial institutions and judgement standards of their customers.
The reasons for marketing scope to have importance in banking and for banks to interest in marketing subject can be arranged as:
Change in demographic structure: Differentiation of population in the number and composition affect quality and attribute of customer whom benefits from banking services. Intense competition in financial service sector: The competition became intense due to the growing international banking perceptiveness and recently being non limiting for new enterprises in the sector. Increase in liberalization of interest rates has intensified the competition.
Bank’s wish for increasing profit: Banks have to increase their profits to create new markets, to protect and develop their market shares and to survive on the basis of intense competition and demographic chance levels.
The marketing comprehension that are performed by banks since 1950 can be shown as in following five stages:
1. Promotion oriented marketing
RECENT PERCEPTIONS IN MARKETING THOUGHTS OF SERVICES
MARKETING IN BANKING
Marketing approach in banking sector had taken significance after 1950 in western countries and then after 1980 in Turkey. New banking perceptiveness oriented toward market had influenced banks to create new market. Banks had started to perform marketing and planning techniques in banking in order to be able to offer their new services efficiently. Marketing scope in banking sector should be considered under the service marketing framework. Performed marketing strategy is the case which is determination of the place of financial institutions on customers’ mind. Bank marketing does not only include service selling of the bank but also is the function which gets personality and image for bank on its customers’ mind. On the other hand, financial marketing is the function which relates uncongenitalies, differences and non similar applications between financial institutions and judgement standards of their customers.
The reasons for marketing scope to have importance in banking and for banks to interest in marketing subject can be arranged as:
Change in demographic structure: Differentiation of population in the number and composition affect quality and attribute of customer whom benefits from banking services. Intense competition in financial service sector: The competition became intense due to the growing international banking perceptiveness and recently being non limiting for new enterprises in the sector. Increase in liberalization of interest rates has intensified the competition.
Bank’s wish for increasing profit: Banks have to increase their profits to create new markets, to protect and develop their market shares and to survive on the basis of intense competition and demographic chance levels.
The marketing comprehension that are performed by banks since 1950 can be shown as in following five stages:
1. Promotion oriented marketing
References: [1] C. Grönroos., Service Management and Marketing – Managing the Moments of Truth in Service Competition, Lexington Books, USA, 1990. [2] A. Palmer., Principles of Services Marketing, McGraw – Hill Book Company, UK, 1994. [3] İ. Cemalcılar., Pazarlama, AÜ. Yayınları, Eskişehir, 1995. [4] N. Timur., Banka ve Sigorta Pazarlaması, AÜ. AÖF. Yayınları, Eskişehir, 1994. [5] Y. Fidan., “Hizmetlerin Üretim ve Pazarlanması”, Pazarlama Dünyası, Vol. 53, 1995. [6] N. Uray., “Banka Hizmetlerinin Dağıtımında Aracıların Yeri, Pazarlama Dünyası”, Vol. 38, 1993.